The following excerpt is reprinted with the permission of and with credit to North Carolina Lawyers Weekly. By David Donovan Smoke has long been used for sending signals, but the North Carolina Supreme Court has sent some clear signals to stock owners while resolving a spat over smokes. On Dec. 7 a narrowly divided court […]
By Jonathan Jenkins and Andrew Steffensen Overview If you are a lawyer who represents a taxpayer who recently realized a short-term or long-term capital gain, your client may be looking for ways to avoid recognizing that capital gain and the associated tax bill. Thanks to a new tax incentive program, a taxpayer who has realized […]
The Business Law and International Law Sections will hold their annual meetings and joint CLE program on Feb. 14 and 15 in Pinehurst. This year’s program includes sessions about securities law, emerging technologies, indemnification of company owners and principals, GDPR, dispute resolution issues in international practice, and a host of others, including the Friday morning favorite, […]
By J. Dain Dulaney, Jr. Imagine this day for a moment: you are the CEO and announce to your investors and employees that the company is issuing additional equity ownership and that their equity ownership percentage is being diluted. Chaos ensues. You have panicked existing investors. Employees are up in arms. All because a new […]
By Benjamin W. Baldwin The North Carolina Court of Appeals recently addressed a claim asserting a shareholder’s right to a judicial dissolution of a business corporation in Brady v. Van Vlaanderen, 2018 WL 3977437 (N.C. Ct. App. August 21. 2018). In Brady, the plaintiff was a shareholder in a family business, United Tool & Stamping Company […]
By Adam Altman The North Carolina Loan Broker Act was enacted in 1979 “to protect the public from unscrupulous loan brokering practices.” Brief of Amicus Curiae Roy Cooper, Attorney General of North Carolina at 4, Printing Services of Greensboro, Inc. v. American Capital Group, Inc. 361 N.C. 347, 643 S.E.2d 586 (2007). The North Carolina […]
By Peter H. Webb Transfer restrictions in operating agreements serve an important function in assuring that the members of limited liability companies (“LLCs”) are able to control the admission and withdrawal of their fellow members. Members view these controls as fundamental to the business relationship, as they do not want to be forced into business […]
By Jennifer Weaver Negotiating on behalf of minority members of an LLC requires careful attention to their unique position. The minority (“Minority”) may include those who have no voting rights at all or limited rights to participate in voting, or those who have a vote but not enough to control. Although the Minority may not […]
By Anderson Ellis Have you ever used a search engine to look for something, only to find that every subsequent website is advertising that item on sale? Have you ever mentioned some far-flung vacation locale to a friend, only to receive an unsolicited advertisement on your smartphone about cheap flights to that place? These targeted […]