Publications
Those whom the law entrusts with the management of other peoples'assets, whether they are executors of decedents' estates or trustees ofrevocable or testamentary trusts, are fiduciaries, and, as such, arecharged with certain legal duties and responsibilities. The details varysomewhat from state to state, but virtually all fiduciaries are held tocertain fundamental standards. The duty of […]
Last year, the Equal Employment Opportunity Commission issued a detailed enforcement guidance on employers’ obligations to employees with psychiatric disabilities. The guidance discusses what constitutes a psychiatric disability under Title I of the Americans with Disabilities Act (ADA), whether an employer may ask about an individual’s psychiatric disability, and what types of reasonable accommodations may […]
Mandatory arbitration of employment disputes is becoming increasingly popular with employers of all sizes and across many industries. This IN FOCUS examines the trend, identifying the benefits and risks as well as some of the important considerations in implementing such a policy. While mandatory arbitration agreements have the potential to create tremendous cost savings for […]
One of the most gratifying aspects of owning a family business is to leave a legacy to the next generation. Unfortunately, without planning, the legacy can turn into a liability. Part I of this article will review some of the things to think about when planning for business succession. Part II (in the next Advisory) […]
Affirmative action, and its role in the future, continues to be the topic of court cases and current political discussions. However, while the controversy continues throughout the country, one thing remains perfectly clear-the OFCCP remains committed to its enforcement procedures. Federal contractors should be reminded of the importance of affirmative action compliance by a recent […]
Most business managers and closely held business owners enter into a variety of contracts in the ordinary conduct of their day-to-day business. Lawyers are not consulted, formal agreements are not prepared and often people do not even recognize that they are entering into a contractual relationship. In practice this usually works quite well. Occasionally, however, […]
Who needs an affirmative action plan? A written affirmative action plan is required if an employer is a federal contractor or subcontractor with 50 or more employees and: a. has a government contract of $50,000 or more; or b. has government bills of lading that in any 12-month period total or can reasonably be expected […]
The United States Supreme Court has indicated that good human resources practices can help employers defend against legal claims brought by their employees. Yet, in these days of fast-paced business operations and constantly changing employment laws, it is often difficult for a small business without full-time Human Resources assistance to adequately assess its employment practices. […]
If you have not already done so, underground storage tanks must be upgraded, replaced or properly closed by December 22, 1998 in order to meet the requirements of federal regulations that take effect that day. The U.S. Environmental Protection Agency (“EPA”) set the deadline 10 years ago to give tank owners plenty of time to […]
Public Act 98-134, which recently became effective, concerns the reporting of certain significant environmental hazards by owners of contaminated property. The Act requires, in certain situations, that a technical environmental professional – an individual who collects soil, water, vapor or air samples for purposes of investigating and remediating sources of pollution – and the owner […]
The newly enacted provisions concerning significant contamination reporting join section 22a-450 of the General Statutes of the State of Connecticut, which creates a broad requirement to report to the DEP spills or releases of a wide variety of substances. Enacted in 1969, section 22a-450 has never been the subject of implementing regulations or guidance. Confusion […]
In August 1996, the Second Circuit issued a decision in Harsco Corp. v. Segui that has potentially significant ramifications for parties involved in the purchase or sale of the stock or assets of a company. The decision addresses the effect of a “no other representations” clause contained in a purchase and sale agreement. A typical […]
Where one company acquires another, either by purchase or in a tax-free reorganization, the acquiring company must generally treat the excess of the acquisition price over the value of the target’s tangible assets as “goodwill” on its financial statements. Such goodwill is amortized on the company’s books for as long as 40 years, with a […]
If an employer violates discrimination statutes when discharging an employee, can the employee be barred from relief if after the discharge the employer discovers evidence of wrongdoing that would have led to termination on lawful, legitimate grounds? This question recently was addressed by the United States Supreme Court. In the case McKennon v. Nashville Banner, […]
In August 1996, a Connecticut superior court issued a decision that added the product line exception to the general rule that a purchaser of a business that acquires all or substantially all of the assets of the seller does not become liable for the seller’s liabilities unless the purchaser specifically assumes the liabilities. In Sullivan […]
It has been evident for some time now that the existence of an internal corporate compliance program is valuable to any company that might face criminal investigation by the federal government. A recent decision by the Delaware Chancery Court underscores the importance of such programs and reveals that they may be equally useful in defending […]
Rule 144 Holding Periods Reduced by One Year In February 1997 the Securities and Exchange Commission approved shortening the holding period for restricted securities pursuant to Rule 144 from two years to one and the holding period under Rule 144(k) from three years to two. This development, which becomes effective on April 29, 1997, will […]
Since the passage of the Family and Medical Leave Act (FMLA), employers have rightly been confused about the relationship between the FMLA and COBRA continuation rights. COBRA notice, required by law in the case of a “qualifying event,” is intended to apprise employees of their right to continue participation in an employer’s group health plan, […]
The Compensation Review Board recently held that it is permissible for an injured worker to be treated concurrently by his or her regular physician and a specialist. In Bestiko v. McDonald’s Restaurant and Kemper, the injured claimant sought treatment for his back injury from his general practitioner, Dr. Hofbauer. Dr. Hofbauer immediately referred the claimant […]
If an employee bas been out of work with a workers’ compensation injury for five months, returns to work for less than a month and then requests twelve weeks of family and medical leave to care for a sick parent, how should the employer respond? Possible Response One: Yes. An employer might assume that the […]
Any employer that has ever tried to settle an employment discrimination claim has struggled to determine whether payroll taxes need to be withheld, sometimes holding out a “no-tax” treatment as leverage to get an employee to accept a lower fee settlement figure. Until about one year ago, this could be a risky proposition because employment […]
Effective January 1, 1995, employers must file with the Department of Labor the name, address, and social security numbers of all newly-hired employees.
The Commission announced the adoption of significant changes to its rules regarding Section 16 of the Securities Exchange Act of 1934. The revised rules, which are effective August 15, 1996, are designed to reflect a new, simplified approach to transactions between an issuer and its directors and officers. The new rules implement the Commission’s position […]
The new Section 16 rules announced by the Commission also affect the reporting system pursuant to which officers and directors file Forms 3, 4 and 5 with the SEC and applicable stock exchange. Although the Commission chose not to do away with Form 5, there were several noteworthy changes made in the interest of simplification […]
On May 30, 1996 the Securities and Exchange Commission issued a release pursuant to which it eliminated 49 rules and forms that its Task Force on Disclosure Simplification determined were duplicative or unnecessary. The Task Force was organized in August 1995 to consider ways to streamline filing and reporting requirements where consistent with the SEC’s […]
Congress recently enacted into law the Private Securities Litigation Reform Act (the “Act”). These provisions can be found in subsection 27A of section 102 of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Act’s main purpose is to reduce what many in Congress felt was the large […]
The repeal of the Connecticut succession tax, begun in 1997, continues apace. If you are a Connecticut resident, all transfers by your estate to a surviving spouse or a charity are free of the succession tax. If you survive until January 1, 2001, you can also pass your entire estate to your children and grandchildren […]
The Securities and Exchange Commission has issued several recent releases and Congress is considering legislation that would, if enacted, significantly change securities regulations. These proposed changes, which in the case of SEC proposals are subject to public comment and further internal review, and in the case of proposed legislation, to final approval by Congress, may […]
The United States Supreme Court has indicated that good human resources practices may help employers defend against legal claims brought by their employees. Wiggin & Dana offers a complete line of consulting services to help our clients evaluate and improve the way they handle the broad range of human resources issues that arise in their […]
On June 22nd the United States Supreme Court issued four decisions of great interest to employers. Three of the decisions addressed the question of whether an individual is disabled within the meaning of the Americans with Disabilities Act when mitigating measures, such as medication and eye glasses, allow the individual to function normally. Sutton v. […]