Employee Owes Fiduciary Duty to Employer and Cannot Misappropriate a Corporate Opportunity June 5, 2019 The Illinois Appellate Court has reiterated what the Illinois Supreme Court said a few years ago: Employees of a corporation owe...
The Board Made a Wrong Decision – Can (Should) it be Held Liable? May 16, 2019 The board of directors made the decision to acquire a company for $100 million. The negotiations and the due diligence...
When Silence Is Not Golden, A Cautionary Tale For Brokers May 9, 2019 Under the “Carmack Amendment,” a motor carrier (i.e. an entity providing transportation of cargo) is generally strictly liable for damages...
“For the times they are a-changing’.” Illinois Supreme Court rules that the Implied Warranty of Habitability does not apply to subcontractors. April 5, 2019 For over 30 years, since Minton v. Richards Group of Chicago, 116 Ill.App.3d 852 (1st Dist. 1983), subcontractors in Illinois...
“If You Give a Mouse a Cookie …” : Informational Rights of Minority Shareholders of Close Corporations and LLC Members in Illinois February 20, 2019 Nearly all shareholder and membership disputes begin with a minority shareholder or member suspecting mismanagement by the majority shareholders or...
The Bottom Line on the Impact of Minimum Wage Hikes on the Restaurant Industry October 31, 2018 Minimum wages are rising across the country, with well over a dozen states, plus many cities increasing minimum wages over...
Predictive Scheduling Legislation: What You Need to Know to Avoid Costly Surprises October 3, 2018 In approximately a dozen states and a number of smaller municipalities across the U.S., initiatives have been introduced that would...
Recent Changes in Illinois Law Will Place Additional Burdens on Employers September 26, 2018 In 2018, Governor Bruce Rauner signed into law a number of changes that are already in effect or will go...
Have You Looked At Your Buy-Sell Agreement Lately? Business Succession Planning September 5, 2018 John, Alexandria, Mary, Martin, and Yvette, formed the Jammy Sleepwear Company over thirty-five (35) years ago. They were equal partners...
How Do You Value a Business for Buy-Sell Purposes? January 30, 2018 Owners of closely held businesses should have a buy-sell agreement if there are multiple owners. The buy-sell agreement, often incorporated...
