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The Bumpy Road: Tort Reform in New Jersey
In the late 1990s, the New Jersey Legislature sought to curb what was viewed as excessive and often frivolous litigation in New Jersey. Over a series of several years, legislation was enacted to reduce the perceived prevalence of, first, medical malpractice and, then, automobile accident lawsuits.
In 1995, the legislature passed the Affidavit of Merit Statute (AOM), N.J.S.A. 2A:53A-26 et seq. The first real challenge to an interpretation of this new AOM Statute did not occur until 1998, the same year in which the legislature passed the 1998 Automobile Insurance Cost Reduction Act (AICRA), N.J.S.A. 39:6A-1.1 to 35. The latter legislation significantly enhanced the requirements for personal injury plaintiffs to breach the limitation-on-lawsuit threshold, or verbal threshold, in order to recover for personal injury/non-economic damages. This statute had the desired effect of substantially limiting the number of lawsuits filed. Therefore, while not necessarily decreasing the costs of insurance (those costs held steady), it increased competition and created greater choice in the marketplace by developing an atmosphere that permitted both new insurers to enter the marketplace and old insurers who had left to return to the marketplace.
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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.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.