The latest development in a lawsuit against Visa, Mastercard and other major credit card issuers regarding their credit card fees involves Staples. In May of 2024, we reported that the Court of Appeals for the Second Circuit approved a $5.5 billion settlement in the case of In re Payment Card Interchange Fee and Merchant Discount … Read more
In any lawsuit alleging negligence, an important element of the claim is to show that the defendant did or should have reasonably foreseen the harm that resulted from their conduct. If the harm wasn’t foreseeable, then the defendant cannot be liable for damages. A question that arose in a recent New York case was who … Read more
Many transactions require parties to provide financial statements for review. This can include businesses seeking loans or investors, cooperative or condominium sponsors, companies who owe performance royalties and other parties. However, all financial statements are not created equal. One primary difference is the level of review and verification of the underlying financial data undertaken by … Read more
On August 24, 2023, we published a blog post on a proposed bill before the New York State Assembly that would ban non-competition agreements in New York. Since then, the bill passed the vote before the Assembly, but Governor Hochul vetoed the bill on December 22, 2023. While the status of a New York state … Read more
If you have a business that accepts Visa and Mastercard, you may be able to get a refund of some of the fees you paid in the past. The In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, or more colloquially known as “Swipeopoly”, was an action brought by a class of merchant … Read more
Many people live their lives online open to public consumption. One of the downsides of that is how it could affect their employment. Some individuals have lost job opportunities due to the content of social media posts, even those made many years prior. While it may seem unfair to employees, employers may be concerned about … Read more
The failure of several banks in the last year caused many to question whether their money was protected if their bank went under. FDIC insurance is available up to a certain limit and not just for individual accounts. Almost all funded trusts have bank accounts that are insured by the FDIC. However, the amount of … Read more
Non-competition agreements are fairly common in certain types of jobs and industries. Because they restrict an employee’s future employment prospects, typically, these contracts are limited in that they only apply for a specific length of time and/or a reasonable distance from the previous employer’s business location. However, in recent years, some states are going so … Read more
Generally, under New York law, real estate transactions must be in writing and signed by the parties to be enforceable. General Obligations Law § 5-703(3) states that a contract to transfer real property is void unless the contract or some note, or memorandum thereof is in writing and signed by the “party to be charged therewith.”. … Read more
Financial transactions happen every day all around the world. Interestingly, whether you’re buying a bottle of water or entering into a multi-million-dollar contract, many of the same basic rules apply. Among those rules are ones that govern what happens if you accidentally overpaid someone. It’s important to know what your obligations are when you pay … Read more