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Stark & Stark Shareholder Obtains $3,000,000 Settlement in Shareholder Oppression Case On Tuesday August 17, 2010, Scott I. Unger, Shareholder in Stark & Stark’s Litigation Group, successfully negotiated a multi-million dollar settlement in a complex shareholder oppression case in Monmouth County, New Jersey. The $3,000,000 settlement (including counsel fees) was approved by the Honorable Thomas W. Cavanagh, Jr. P.J.Ch., Monmouth County. Mr. Unger represented a minority shareholder of two family owned companies: Bilkays Express Co., a regional trucking and commercial real estate company located in Elizabeth, New Jersey, and The Bobby Corporation, a company which owns and leases commercial properties throughout New Jersey and New York. It was alleged that the Defendants breached fiduciary duties by operating the companies in a manner which benefitted themselves at the detriment of the Plaintiff. Moreover, it was alleged that the Defendants failed to share a substantial offer to purchase two of the companies’ commercial real estate ....
Stark & Stark Shareholder Comments on FedEx Investigation Scott I. Unger, Shareholder in Stark & Stark’s Litigation Group, was quoted in the August 25, 2010 New York Post article, FedEx: Cuomo suit 'pie in the sky. The article discusses New York Attorney General Andrew Cuomo’s recent review of the insurance policies FedEx sells to customers. FedEx claims Mr. Cuomo doesn’t have the authority to pursue the investigation because they are under the jurisdiction of the federal government, not the state of New York. However, Mr. Unger states that there are several ways in which the Attorney General could prove that he does in fact have the authority to pursue the investigation. ....
Stark & Stark Shareholder Comments on J.P. Morgan Suit Against Former Adviser Thomas B. Lewis, Chair of Stark & Stark’s Employment Group, was quoted in the August 17, 2010 article, J.P. Morgan sues former adviser. The article discusses J.P. Morgan Chase & Co’s recent decision to sue a former financial adviser who defected to Morgan Stanley Smith Barney. Since leaving, Michael Lupia has already transferred $30 million of client assets. Mr. Lewis states that while Morgan Stanley is a signatory to Protocol for Broker Recruiting (which allows advisers to take basic client contact information when they change firms without fear of being sued) because JPMorgan is not, they are free to sue advisers and firms in these situations. ....
Superior Court of New Jersey Affirms Trial Court's Ruling in Eminent Domain Case On July 15, 2010, the Appellate Division of the Superior Court of New Jersey affirmed a trial court's ruling that a billboard owned by Lamar Advertising of Penn ("Lamar") is personal property for purposes of eminent domain. Lamar entered into a lease with the property owner and built a billboard on the property. When the New Jersey Turnpike acquired the property, an issue arose over whether the billboard was real or personal property. The court ultimately ruled that for purposes of eminent domain, the billboard is personal property. You can read the decision here. ....
Stark & Stark Obtains $1,200,000 Settlement in Condominium Construction Defect Case Including Mold, Window and Roof Defects A condominium located in Bergen County, New Jersey has accepted a total settlement of $1.2 million for various transition-related construction defects. Mark M. Wiechnik, David J. Byrne and Thomas J. Pryor of Stark & Stark obtained the settlement on behalf of the third-party plaintiff condominium association, which experienced roof leaks, window problems and other construction related issues, shortly after the unit owners were elected to the Board of Directors of the Association. The case began as a negligence and mold exposure personal injury action against the Association and the Developer by a unit owner in the building who experienced water intrusion into her unit. The unit owner sued the Association and the Developer for failing to repair the roof in a timely fashion both before and after transition of control of the Association. The plaintiff had argued that the Association failed to repair the roof in a timely fashion, which caused additional damage ....
J.P. Morgan Sues Former Adviser Thomas B. Lewis, Chair of Stark & Stark Employment Litigation Group, was quoted in the July 7, 2010 Reuters.com article, J.P. Morgan sues former adviser. Mr. Lewis comments on the recent case filed by J.P. Morgan Chase & Co in response to a former advisor who left J.P. and took $30 million of client assets with him to Morgan Stanley Smith Barney. Mr. Lewis states that becuase J.P. Morgan is not a signatory to the Protocol for Broker Recruiting, they are fee to sue advisers as well as other firms. You can read the full article online here. (PDF) ....
Stark & Stark Shareholder Featured in South Jersey Building News Gary S. Forshner, Shareholder in Stark & Stark's Real Estate, Zoning & Land Use Group, was featured in the June 2010 edition of the South Jersey Building News, published by the Builders League of South Jersey. The piece discusses some hot topics affecting the real estate today, and highlights Mr. Forshner's active involvement in the real estate industry. You can access the full article online here. (PDF) ....
Albert Stark - Writer, Mentor, Cheerleader The Sunday Trenton Times recently published an article featuring our Shareholder Albert Stark. It was the satisfaction he derived from becoming involved in people's lives that drew him into personal injury law. He had set out to practice urban planning and land development law but changed his mind after sudden and dramatic setbacks. You can read the article in its entirety here. ....
A Case Study on the Importance of Forum Selection in Mass Tort Litigation Craig S. Hilliard and Martin P. Schrama, Shareholders in Stark & Stark’s Litigation Group, authored the article, A Case Study on the Importance of Forum Selection in Mass Tort Litigation, for the May 17, 2010 New Jersey Law Journal Complex Litigation & E-Discovery supplement. The article discusses the importance of choice of forum in mass tort litigation. Mr. Hilliard and Mr. Schrama stress the importance of considering a prospective forum’s discovery standards and practices,. They state that discovery rules and practices can dictate the type and quality of evidence that will be discovered and used in that case, and therefore, the choice of forum is especially critical in mass tort actions, where a plaintiff’s counsel sometimes has the choice to file in a state court mass tort (or other) proceeding or in a federal court multi-district litigation (“MDL”). You can read the full article online here. (PDF) ....
Stark & Stark Attorney To Present SCORE Seminar on Legal Considerations for Small Businesses Cary S. Kvitka, member of Stark & Stark’s Business & Corporate and Franchise Groups, will present a seminar entitled, Legal Considerations for Small Businesses, for the Greater Princeton Area SCORE. The seminar will be held Tuesday May 25, 2010 from 6:45 – 8:45 PM at the South Brunswick Public Library. The seminar will discuss the legal implications, benefits and detriments of buying an existing business, buying a franchise, and starting a business from scratch. Mr. Kvitka will also focus on some issues that commonly arise with new businesses, including intellectual property issues and how to negotiate commercial leases. You can register for the seminar online here, or for more information please call 609-393-0505. ....
Stark & Stark Shareholders Present Legal Update on Important and Precedent-Setting Legal Decisions and how they Impact Condominiums, HOAs and Co-Ops Shareholders and Co-Chairs of Stark & Stark's Community Association Group, David J. Byrne and A. Christopher Florio, and Stark & Stark Construction Litigation Group Chair, Donald B. Brenner, presented materials updating everyone on recent and important legal decisions. The seminar was entitled "Legal and Legislative Update: Important Decisions, New Laws, and how they Impact Your HOA, Condo. and/or Co-Op". The presentation was part of the New Jersey Cooperator Expo which was held in Secaucus, New Jersey on May 5, 2010. Mr. Byrne discussed the United States Fair Housing Act and a recent decision regarding its application to 'companion animals'. Mr. Florio discussed two recent cases involving the fiduciary duties of board members and the business judgment rule. Mr. Brenner discussed two key Appellate Division decisions published in 2009, both of which relate to the 'economic loss doctrine' and homeowners’ claims ....
Stark & Stark Shareholder Comments on Smith Barney Raiding Case Thomas B. Lewis, Chair of Stark & Stark’s Employment Group, was quoted in the May 5, 2010 Dow Jones article, Finra Panel Throws Out Smith Barney Raiding Case. The article discusses the recent decision by the Financial Industry Regulatory Authority arbitration panel to throw out a case in which Smith Barney alleged raiding by a group of top-producing brokers and a boutique wealth management firm. Mr. Lewis states that the order stating that Smith Barney will have to pay for hearing fees sends a message to both parties that the claims never should have been brought. “Hearing fees are traditionally split between the parties,” he says. You can read the full article online here. ....
Stark & Stark Shareholder Interviewed on Ask the Experts Gary S. Forshner, Shareholder in Stark & Stark’s Real Estate, Zoning & Land Use Group was a featured panelist on WMTR’s Ask the Experts radio show, hosted by Jessie Frees, as they discuss the 2010 New Jersey Builders Association’s Atlantic Builders Convention. Mr. Forshner was joined by Eileen Monesson, Atlantic Builders Convention Committee Chair; and John Hooper, a South Jersey builder and Chairman of the New Jersey Builder's Association's Green Building Committee. The panelists discussed the show highlights, special events and educational seminars offered at the convention. Mr. Forshner commented on the recent regulatory and legal changes impacting the real estate industry throughout the state of New Jersey. You can listen to the full interview online here. ....
So You Thought You Had A Lease? Jeffrey S. Posta, Shareholder in Stark & Stark's Bankruptcy & Creditor's Rights Group, authored the article, So You Thought You Had A Lease? for the April 2010 Lease Enforcement Attorney Network Newsletter. In the article, Mr. Posta states that there is uncertainty in the law about whether a transaction is a sale or a true lease, and stresses that this distinction is especially important when and if the owner/lessee of an asset files for bankruptcy. Mr. Posta advises lessors desiring true lease treatment to carefully document their transactions in order to protect their interests. You can read the full article online here. ....
Buying Assets From a Troubled Company Rachel Lilienthal Stark, Shareholder in Stark & Stark's Business & Corporate and Banking & Financial Services Group authored the article, Buying Assets From a Troubled Company, for the April 2010 edition of Mercer Business Magazine. The article discusses the opportunites available to acquire assets from companies that are not able to maintain their businesses, either because they have lost customers or because they are not able to get financing. Ms. Stark addresses the question of how to benefit from those opportunities without taking on unnecessary risks. You can read the full article online here. (PDF) ....