The Law Offices of Brian J. Herman, lawyers in Hudson, NY, New York

Insider Trading

(Bounties for Persons Reporting Insider Trading)More...

OSHA Requirements and Standards

The Occupational Safety and Health Administration (OSHA) is responsible under the Occupational Safety and Health Act of 1970 for promoting a safe workplace by setting standards and conducting inspections. The Act applies to almost all employers.More...

Compliance with the ADEA/OWBPA

After the United States Supreme Court decided Ohio v. Betts in 1989, Congress amended the ADEA by passing The Older Workers Benefit Protection Act of 1990 3 (OWBPA). The OWBPA further clarifies Congress's original intent relative to age-based discrimination in the area of employee benefits. Under the OWBPA, an employee may reduce benefits for older workers only when the cost of providing reduced benefits is the same as it is for younger workers. An employer cannot prevent an older employee's pension from accumulating or accruing if the employee works past normal retirement age. The practice of forcing older workers to take early retirement is also addressed. More...

Corporate Criminal Penalties

Organizations may be held liable for criminal conduct just as individuals may be convicted of criminal conduct. The Organizational Sentencing Guidelines of the United States Sentencing Commission (Guidelines) apply to all federal felony and Class A misdemeanor offenses. Under the Guidelines, an organization can be fined, sentenced to probation for up to five years, subjected to statutory forfeiture, ordered to make restitution, and issue public apologies to victims. The term "organization" refers to "a person other than an individual." This includes publicly and privately held corporations, partnerships, associations, joint-stock companies, labor unions, trusts, pension funds, unincorporated organizations, non-profit entities, governments, and political subdivisions of governments. According to the Deputy Counsel for the United States Sentencing Commission, the most common criminal offense committed by an organization is fraud. Other common offenses include environmental pollution, money laundering, and food and drug violations. The Guidelines have two basic purposes: just punishment and deterrence. More...

Unlawful Distributions

The Revised Model Business Corporation Act defines a "distribution" as a direct or indirect transfer of money or other property (excluding the corporation's own stock) or the taking on of debt by the corporation for the shareholders' benefit with respect to stock shares. A distribution can be an acquisition of stock shares such as in a redemption, a declaration or payment of a stock dividend, a transfer of promissory notes, or a transfer during a liquidation. State statutes that address the subject are not uniform, and many states did not adopt the definition of "distribution" found in the Revised Model Business Corporation Act. Additionally, a company's articles of incorporation may dictate what constitutes a "distribution." More...