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The NFL's Compliance Fumbles
Last month, the NFL told Baltimore Ravens running back Ray Rice he couldn't play professional football anymore, after a horrific video surfaced of Rice punching his then-fianc' (now wife) in an Atlantic City hotel elevator in February 2014. Previously, NFL commissioner Roger Goodell had given Rice a very light two-game suspension without pay, while talk shows and commenters debated the punishment and what it said about domestic abuse and the standards of conduct required for NFL players. Meanwhile, Rice entered a pretrial intervention program with the goal of dismissing the third-degree aggravated assault charges against him.
The NFL is a $9 billion organization, and its players not only represent the league and its respective teams, but also serve as role models in communities across the United States. As the Nike commercials suggest, fans who buy jerseys of their favorite players, after all, want them to stand for winning, sportsmanship and excellence on the field ' not domestic abuse, drugs or any other criminal activity. In other words, bad player conduct poses reputational risk for the league and impacts financial performance. Many NFL players are ambassadors to the brand and only build on the league's image of professionalism and sportsmanship ' Denver's Peyton Manning and Houston's J.J. Watt come to mind.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.