Articles Tagged with Settlement

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Edward T. Kang, EsquireIn the July 27, 2017 edition of The Legal Intelligencer, KHF Managing Member Edward T. Kang writes on Being Careful What You Say in Settlement Discussions.

Be Careful What You Say in Settlement Discussions

By Edward T. Kang

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On September 23, 2014, in Potok v. Rebh, the Philadelphia Court of Common Pleas held that the corporate officers of Floorgraphics, an advertising company, were held liable for appropriating $12 million from a settlement deal from the sale of their company in 2009 to News America Marketing.

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The State University of New York has reached a deal with unions and Northern Brooklyn community groups regarding the future of its Long Island College Hospital.

In February of 2013, SUNY’s board of trustees voted to close the hospital and were seeking sell the property to (likely one of four) developers who are competing in a bid process.  Various groups from the community blocked the closure with a web of legal actions brought by a coalition of local community groups, unions and elected officials, who were calling for a totally new, transparent Request for Proposals (bidding) process that “respond to the health care needs of the community.”  Meanwhile, SUNY claimed that the losses—estimated at as much as $13MM per month—that resulted from the hospital’s continued operation threaten the structure of the state’s entire public college system. Continue reading →

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It seems the U.S. Securities and Exchange Commission is one of the busiest federal agencies lately, as it brought down the hammer once again, this time obtaining a $2.5 million penalty from Scottrade, Inc. by way of settlement……

SEC Alert: Scottrade $2.5MM Settlement

It seems the U.S. Securities and Exchange Commission is one of the busiest federal agencies lately, as it brought down the hammer once again, this time obtaining a $2.5 million penalty from Scottrade, Inc. by way of settlement.  From March of 2006 until 2012, an affiliate of Scottrade, Inc. failed to provide the SEC with accurate “blue sheets,” which essentially log the details of all trading activity both within a firm and with its customers.  Blue sheet data is necessary for the SEC to identify and analyze trades in the course of investigations and other work, as they contain the details of each equity or options trade that is routed through clearing broker-dealers.  (They are called “blue sheets” because the form was blue, but in the ‘80s, the process became electronic.  Still, the term “blue sheet” is commonly used.) Continue reading →

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