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GLA ALA 2010 ANNUAL EMPLOYMENT LAW FORUM
Press Release |
2010/01/20 02:34
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LOS ANGELES- 200 members of the Los Angeles legal community are expected to attend the Employment Law Forum, a nonprofit legal education event in Los Angeles.
The Greater Los Angeles Chapter of the Association of Legal Administrators (GLA ALA) will host its Annual Employment Law Forum Saturday, January 23 from 8 a.m. to 4:15 p.m. at the Autry National Center of the American West in Griffith Park, located at 4700 Western Heritage Way in Los Angeles.
The event will offer an annual update on new 2010 employment laws with speaker Laura Petroff, managing partner of Winston & Strawn’s Los Angeles office.
Marsha Petrie Sue, MBA, CSP will present the lunch keynote “The Reactor Factor: How to Respond Positively to Negative Situations at Work.”
Three breakout sessions following lunch will feature the speakers Marsh Petrie Sue on the topic of how to Decontaminate Toxic People, Fred Griffin, partner of Burke Williams & Sorenson, on the topic of Navigating California Leaves and John LeCrone, partner at Davis Wright Tremaine, on the topic of Social Media in the Workplace.
An exhibit hall with over 40 business partners who support the legal industry will be in attendance.
Price to attend for ALA members is $50 for the morning session or $75 for the all day seminar and for non-ALA members is $75 for the morning session and $100 for the all day seminar.
For more information, contact GLA ALA President-Elect Mary McDonnell at mmcdonnell@entertainmentpartners.com. For media requests, contact Jess Block, media relations, at JessBlockPR@gmail.com or at 909.706.8525.
ABOUT GLA ALA: The Greater Los Angeles Chapter of the Association of Legal Administrators (GLA ALA) is a 385-person nonprofit membership organization that provides educational opportunities, community service, and exchange of information to improve the quality and professionalism of management in legal services organizations. For more information, visit www.glaala.org. Photos from the GLA ALA Employment Law Forum will be available after the event.
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Manhattan Law Firm Relocates HQ After 50 Years
Press Release |
2009/05/21 16:01
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Herzfeld & Rubin P.C. is relocating its headquarters to 125 Broad St. in New York's Financial District, after a 50-year stint at 40 Wall St.
Mack-Cali, which owns roughly 40 percent of the 40-story office tower, signed the global law firm to a 20-year, 56,322-square-foot lease. The new deal brings the REIT's 525,000-square-foot portion of the 1.3 million-square-foot high-rise to full occupancy. Mark Shapses, Joseph Messina and Jason Schwartzenberg with Studley represented Herzfeld & Rubin. The law firm joins prominent tenants such as Sullivan & Cromwell LLP and the American Civil Liberties Union (ACLU), both of which own their space. Herzfeld & Rubin's 64,736-square-foot lease at 40 Wall St., which encompasses floors 50 through 56, is up at the end of this year. The new space offers comparable size, but on less than two floors. The new deal brings a nearly four-year search to an end. "We were hired in 2005 to find a more cost-effective, efficient occupancy solution for the firm, and periodically went out into the market looking for space," said Shapses. "The market went through extraordinary price and availability changes in that period. The right situation with the right economics hadn’t surfaced until now." Schwartzenberg noted that the space hadn't even hit the market yet. "We knew it would soon be vacated so we moved quickly to secure it." Mack-Cali will cover 100 percent of the modifications Herzfeld & Rubin requires. The concession package also includes free rent and furnishings. |
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Wolf Haldenstein Files Class Action Suit
Press Release |
2009/02/03 17:39
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Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court, Southern District of New York, against defendants Beacon Associates Management Corp. ("Beacon Associates"), Joel Danziger, Esq. ("Danziger"), Harris Markhoff, Esq. ("Markhoff"), Ivy Asset Management Corp. ("Ivy Asset Management"), the Bank of New York Mellon Corporation ("BONY"), Friedberg Smith & Co., P.C. ("Friedberg Smith") and John Does 1-100 (collectively, the "Defendants"), on behalf of all persons, other than Defendants, who invested in Beacon Associates LLC I (the "Fund") from August 9, 2004 until the present (the "Class Period"), and derivatively on behalf of the nominal defendant, Beacon Associates LLC I, to recover damages caused by Defendants' violations of the federal securities laws and common law claims, including breach of fiduciary duties.
The case name is styled Cacoulidis v. Beacon Associates Management Corp., et al., 09 civ. 00777. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at www.whafh.com.
The Complaint asserts that during the Class Period, unbeknownst to investors, Defendant Beacon Associates, the Managing Member of the Fund, concentrated more than half of the Fund's investment capital with entities managed by Bernard Madoff ("Madoff") or Madoff-related entities. Investors who entrusted their savings to Beacon Associates suffered millions in damages as a result of Madoff's fraudulent scheme.
This Complaint alleges that Defendants failed to perform the necessary due diligence that they were being compensated to perform as investment advisors, managers and fiduciaries, and proximately caused millions of dollars in losses. Defendants either knew or should have known that the Fund's assets were employed as part of a massive Ponzi scheme orchestrated by Madoff. Defendants ignored numerous red flags, including the abnormally high and stable positive investment results reportedly achieved by Madoff regardless of market conditions; inconsistencies between Bernard L. Madoff Investment Securities, LLC's ("BMIS") publicly available financial information concerning its assets and the purported amounts that Madoff managed for clients; and the fact that BMIS was audited by a small, obscure accounting firm.
Additionally, Defendants Beacon Associates, Danziger and Markhoff issued an Offering Memorandum that was false and misleading because it falsely stated that the Fund's assets would be invested in a number of investment vehicles, including a "Large Cap Strategy adopted by Beacon Associates itself, when in reality, unbeknownst to investors, the vast majority of the assets in the Fund were invested in Madoff-controlled entities. The Offering Memorandum also falsely stated that Beacon Associates would monitor the Fund's performance as well as the performance of each third party manager of the Fund's assets, to ensure that they adhered to their stated investment objectives. Plaintiffs allege that Defendants Beacon Associates, Danziger, Markhoff, and Ivy Asset Management, with no or inadequate due diligence or oversight, abdicated their responsibilities and entrusted the Fund's assets to Madoff-run investment vehicles. Plaintiffs further allege that Defendant Friedberg Smith failed to conduct a proper audit of the Fund's financial statements. Finally, Plaintiffs allege aiding and abetting claims against Ivy Asset Management and BONY.
Plaintiffs have alleged claims on behalf of the Class for violations of Sections 10(b) and 20(a) of the Exchange Act, Rule 10b-5, as well as common law fraud, negligent misrepresentation, breach of fiduciary duty, gross negligence and mismanagement, unjust enrichment, and aiding and abetting claims. Plaintiffs are also suing derivatively on behalf of the Fund for breach of fiduciary duty, gross negligence and mismanagement, unjust enrichment, and aiding and abetting.
If you invested in Beacon Associates LLC I during the Class Period, you may request that the Court appoint you as lead plaintiff by April 3, 2009.
A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiffs. Your ability to share in any recovery, however, is not affected by your decision on whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 70 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. Please visit the Wolf Haldenstein website ( http://www.whafh.com) for more information about the firm. |
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IRS updates and expands EPCRS procedures
Press Release |
2008/08/24 15:37
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The IRS has released the long-awaited revenue procedure, updating and expanding the Employee Plans Compliance Resolution System (EPCRS), the system of voluntary correction programs for retirement plans. The EPCRS has been expanded to cover additional plan failures and includes streamlined application procedures under the Voluntary Correction Program (VCP) for numerous categories of plan failures. “Employers and plan administrators want to comply with the tax laws and regulations to protect plan participants,” said Michael Julianelle, director of the IRS’s Employee Plans division. “EPCRS helps employers and plan administrators take a proactive role in identifying and fixing mistakes. It also encourages implementation of practices and procedures that ensure retirement plans comply with laws and regulations.” The updated EPCRS revenue procedure generally will be effective January 1, 2009. However, plan sponsors will be permitted to apply the provisions of the updated revenue procedure beginning September 2, 2008. Time to self-correct expanded
The Self-Correction Program (SCP) permits a plan sponsor to correct insignificant operational failures in plans such as qualified plans, 403(b) plans, SEPs or SIMPLE IRA plans without having to notify the IRS and without paying any fee or sanction. The updated procedure expands the SCP in situations where employers discover failures in their plans and have begun the correction process. The time by which a plan sponsor substantially corrects a significant operational failure and is therefore entitled to use the SCP has been liberalized. Sample correction methods for improperly excluded employees for both employer and employee contributions have been added to Appendix A. In addition, sample correction methods for the failure to implement an employee’s elective deferral election and to provide matching contributions have been added to Appendix B.
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