Reminder- Deadline for New York Employers is February 1, 2012

Meira Ferziger January 22, 2012
This is a reminder that effective April 2011, the New York Wage Theft Prevention Act (“WTPA”) requires employers to annually issue to all New York employees a written notice of the employee’s work conditions, even if the employee has a written agreement in place and there has been no change in the  employee’s work conditions. The deadline for issuing...

SEC Amends Definition of “Accredited Investors”

Craig Tzvi Gherman & Jan S. Wimpfheimer December 29, 2011
Last week the U.S. Securities and Exchange Commission (the “SEC”) amended its rules to exclude the value of a person’s home from net worth calculations used to determine whether such individual qualifies as an “accredited investor”.  The amendment is not “new law” but rather simply conforms the SEC rules with the Reform and Consumer Protection...

SEC Limits its Non-Public Review Policy for Non-U.S. Issuers

Craig Tzvi Gherman December 14, 2011
On December 8, 2011, the Division of Corporation Finance of the U.S. Securities and Exchange Commission significantly limited its policy of allowing non-U.S. issuers to submit initial drafts of registration statements (initial public offering or other first-time registration statements) on a “draft” confidential basis. The policy had previously...

SEC Moves Forward and Approves Tougher Listing Standards for Reverse Merger Companies

Craig Tzvi Gherman November 29, 2011
Earlier in November, the Securities and Exchange Commission approved new rules (the “New Reverse Merger Rules”) that make it more difficult for companies that have effected a “reverse merger” (also known as a “reverse takeover”) to go public and meet the required listing standards of the three major U.S. exchanges – the NYSE, NYSE Amex and...

Reebok Pays $25 Million For Deception

William Galkin November 27, 2011
FTC Action On September 29, 2011, the Federal Trade Commission (FTC) issued an Order for Reebok International (RBK) to pay $25 million in refunds to consumers of its EasyTone and RunTone shoes (Reebok Toning Shoes),  and permanently enjoined Reebok  from making claims that such products are effective in strengthening muscles or that wearing such products...

Employment Law Update for New Jersey Employers November 2011

Meira Ferziger November 17, 2011
The New Jersey Department of Labor has ordered all employers with employees located in the State of New Jersey to distribute and post a notice summarizing various employment laws that apply to New Jersey employees. This requirement is effective immediately for any new hire and must be implemented by no later than December 7, 2011 for existing employees....


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