Below is a recap of recent posts to the Stradley Ronon Business Vantage Point blog. Articles on timely topics impacting ownership, operation and financing of businesses across industries written by our trusted advisers are posted regularly on the site. If you haven’t yet subscribed, please click here to ensure you don’t miss any upcoming articles.
IN THE DECEMBER ISSUE:
Drawing the Line: When Operating Agreements Govern the Relationships Between New York LLCs and Their Members
Whether a New York limited liability company is a party to and bound by its own operating agreement has been examined in a recent decision by the New York Supreme Court, Appellate Division, First Judicial Department. The opinion distinguished New York’s Limited Liability Company Act from the Revised Uniform Limited Liability Company Act (RULLCA), ultimately delineating a bright-line rule: An LLC organized under the laws of the State of New York that has not executed its own operating agreement is not a party to, and therefore cannot be bound by, such operating agreement. Read More...
Implications of Proposed House v. NCAA Settlement: The State of Play in Paying College Athletes
A federal judge recently granted preliminary approval to a multibillion-dollar settlement of three athlete-compensation antitrust cases against the National Collegiate Athletic Association (NCAA), Atlantic Coast Conference, Big Ten Conference, Big 12 Conference, Pac-12 Conference and Southeastern Conference. The proposed settlement, filed with the U.S. District Court for the Northern District of California, brings a closer resolution to the three class-action lawsuits. If finalized, student-athletes would be prohibited from bringing legal action against the NCAA for potential antitrust violations, and they must abandon their pending lawsuits in the following cases:
House v. NCAA,
Hubbard v. NCAA and
Carter v. NCAA..
Read More...
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