Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Discounts on Closely Held Corporate Shares
In last month's issue, we discussed the necessity, in divorce cases as well as in various business-related proceedings, of applying a discount to the value of shares in closely held corporations because of these assets' lack of liquidity. We looked at the leading New York case on the issue, Friedman v. Beway Realty Corp., 87 NY2d 161 (1995), in which the Court of Appeals instructed a lower court to determine the appropriate discount for unmarketability of the petitioner's shares and a recalculate their fair value when applying that discount “to the proportionate net asset value” of the petitioner's stockholdings.
However, not all of our courts have applied the discount in the same manner. The Appellate Division, Second Department, has interpreted Friedman in a more restrictive way than was suggested by the Court of Appeals. Is the Second Department's interpretation the correct one?
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.