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July 20, 2012
Publication - Insurance Coverage, Technology, Privacy & Data Security - Insurance
First Circuit Court of Appeals Holds Bank’s Online Security Measures “Commercially Unreasonable” in Landmark Decision - Global Insurance Group Alert - In a landmark decision, the 1st Circuit Court of Appeals held in PATCO Construction Company, Inc. v. People's United Bank, No. 11-2031 (1st Cir. July 3, 2012) that People's United Bank (d/b/a Ocean Bank) was required to reimburse its customer, PATCO Construction Co., for approximately $580,000 that had been stolen from PATCO's bank account...
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July 20, 2012
News - Family Law
Cozen O’Connor Member Discusses Colorado Theater Shooting on Fox News
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July 19, 2012
Press Release - Real Estate, Real Estate Litigation
Cozen O’Connor Adds Howard Grossman to Real Estate Practice
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July 19, 2012
Publication - Environmental Litigation & Enforcement, Environmental Regulatory & Due Diligence
D.C. Circuit Upholds EPA Greenhouse Gas Regulations - Energy, Environmental and Utilities Alert - On June 26, 2012, the U.S. Court of Appeals for the D.C. Circuit upheld a suite of U.S. Environmental Protection Agency (EPA) actions related to the regulation of greenhouse gas (GHG) emissions under the federal Clean Air Act (CAA).
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July 16, 2012
Publication
SEC Addresses Extraordinary Volatility in Stock Market - Securities Offerings and Regulation Alert! - On June 1, 2012, the Securities and Exchange Commission (SEC) announced two new initiatives to address extraordinary volatility both in individual stocks and the stock market as a
whole. The initiatives were submitted by the Financial Industry Regulatory Authority (FINRA) after the stock market drastically dropped in a matter of minutes and the existing rules failed to
stop the plunge.
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July 15, 2012
News - Zoning, Land Use & Development
Ken Fisher quoted in Crain’s New York Business
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July 12, 2012
Publication
Keeping Up With Escalation Clauses - New York Law Journal - Escalation provisions are complex in form and very dry reading, however, the failure to carefully read and understand such provisions can be very costly. In the article, Menachem Kastner uses the Murray Hill Mews Owners v. Rio Restaurant Associates case to demonstrate the importance of the statement above, noting that, "In the end, the time expended to understand these clauses will be well worth it."
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July 10, 2012
News
In an article titled, ''New Risks in Pitching Ideas to Prospects,'' Joseph Dever, a member of Cozen O'Connor's Commercial Litigation Department, discusses the Financial Industry Regulatory Authority’s suitability rule, particularly its interpretation among brokers.
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July 06, 2012
News - Tax
Cozen O’Connor, PLS Introduce PA Tax Recap
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July 05, 2012
Publication - Subrogation & Recovery - Insurance
General Motors is recalling nearly all Chevy Cruze models built in the United States since the vehicle’s introduction two years ago. The company knows of 30 fires caused by the problem, but no injuries have been reported, spokesman Alan Adler said. Flames engulfed and destroyed cars in two cases reported to federal safety officials.
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July 05, 2012
Publication - Utility & Energy
Pennsylvania Amends Municipality Authorities Act to Restrict Authority Expenditures - Energy, Environmental and Utilities Alert - On June 27, 2012, Pennsylvania Governor Tom Corbett signed into law Senate Bill 375, which had been approved by a vote of 47-0 in the Senate on June 13 and by a vote of 196-0 in the House on June 19. The bill places certain restrictions on municipal water and sewer authorities’ ability to expend resources on activities not related to their core purpose.
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July 03, 2012
Press Release
Cozen O’Connor Named Finalist in PA Litigation Department of the Year, Featured in The Legal Intelligencer
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July 02, 2012
Publication - Employment Litigation, Labor & Employment
Third Circuit Establishes New Test for "Joint Employers" - Labor and Employment Alert - A determination that a company is a “joint employer” can dramatically increase its potential exposure to liability under the Fair Labor Standards Act, because joint employers can be held responsible for each other’s violations of the law.
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July 02, 2012
Publication - Insurance Coverage - Insurance
New Ninth Circuit Decision Purportedly Imposes Duty on California Insurers to Negotiate a Settlement within Policy Limits - Global Insurance Alert! - The recent Du v. Allstate Ins. Co. opinion is the 9th Circuit’s Erie guess of the proper interpretation of a long-standing issue
of California bad faith law: whether an insurer has a duty to attempt to settle within policy limits even if there is no policy limits demand, and, if so, when that duty attaches. The 9th
Circuit ruled that an insurer does have the duty to attempt to settle a claim within policy limits when it is “reasonably clear”
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July 02, 2012
Publication - Business
The JOBS ACT: SEC Guidance on the Changes to the Registration and Deregistration Requirements under the Exchange Act - Securities Alert - H.R. 3606, also known as the Jumpstart Our Business Startups Act (JOBS Act), was signed into law on April 5, 2012.
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July 01, 2012
News
Last year, after Rory Van Loo left the Consumer Financial Protection Bureau implementation team to become assistant director of the Harvard Negotiation & Mediation Clinical Program, he asked his former colleagues how HLS students might assist the new agency.
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July 01, 2012
Publication - China Practice, Corporate, Government Relations - Cozen O'Connor Public Strategies, Intellectual Property, Public & Project Finance
This issue of the Business Law Observer covers several areas of business activity, anticipating problems, and how to deal with them before they become insurmountable, including: Venture Capital, Intellectual Property, Governmental Risks, China Practice and Public and Project Finance.
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June 30, 2012
News - White Collar Defense & Investigations
Stephen Miller, a member in Cozen O’Connor’s Criminal Defense and Government Investigations Group, discussed the frustration of Bernard Madoff’s victims regarding the lack of information about the workings of the decades-long Ponzi scheme in an article titled, ''Peter Madoff Admts Aiding Brother’s Ponzi Scheme.''
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June 30, 2012
Publication - Insurance Coverage, Professional Liability
Bank Errors - BEST’S REVIEW - As of early April, the Federal Deposit Insurance Corp. had filed 27 lawsuits against directors and officers of failed banks. In several of these actions, the FDIC also named spouses of some executives, outside professionals and D&O insurers.
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June 29, 2012
Publication - Insurance Coverage, Professional Liability Insurance Coverage - Insurance
Exhaustion Implications for Multi-Policy Settlements - Global Insurance Alert - In JP Morgan Chase & Co. v. Indian Harbor Ins. Co., 2012 N.Y. App. Div. LEXIS 4627 (N.Y. App. Div. June 12, 2012), the Appellate Division of the New York Supreme Court, applying Illinois law, affirmed the lower court’s grant of summary judgment in favor of certain upper-level excess insurers, agreeing that the insured failed to prove that certain underlying policies had been properly exhausted.
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