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Tag: LEGAL

NewAge, seller of health and wellness products, files for bankruptcy in Delaware
Health

NewAge, seller of health and wellness products, files for bankruptcy in Delaware

Register now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - NewAge Inc (NBEV.O), a direct-to-consumer seller of health and wellness products, filed for bankruptcy on Tuesday and said it plans to sell itself, after disclosing material weaknesses in its financial reporting.The Midvale, Utah-based company and three affiliates sought Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware.Tuesday's filing came three weeks after the company received a default notice on a loan agreement.Register now for FREE unlimited access to Reuters.comRegisterNewAge said it had $310.9 million of assets and $149.4 million of debts as of the end of 2021.In a regulatory filing, NewAge said it received a $28 million bid from an entity known as DIP Financing LLC to b...
Wilson Sonsini Adds Seth Flaum in New York to Expand Technology Transactions Department
Technology

Wilson Sonsini Adds Seth Flaum in New York to Expand Technology Transactions Department

Addition Reflects the Continued Growth of the New York Office and High Demand for Transactional Experience Among Life Sciences Clients Contact:Wayne KesslerBaretz+Brunelle732.239.9710 Mobilewkessler@baretzbrunelle.com PALO ALTO, CA (August 25, 2022) – Wilson Sonsini Goodrich & Rosati, the premier provider of legal services to technology, life sciences, and growth enterprises worldwide, announced today that Seth Flaum has joined the firm’s technology transactions department as a partner in the New York office, where he will focus on representing life sciences clients. He brings more than 25 years of broad transactional experience, representing companies in complex strategic transactions and various corpora...
Firefighters’ options exercise requires ‘corrective action’ – Law & Regulation
Fitness

Firefighters’ options exercise requires ‘corrective action’ – Law & Regulation

The remedial action covers “special members” — a category created when retained firefighters were made eligible to join the New Firefighters’ Pension Scheme in 2006.The implementation of the EU Part-Time Workers Regulations determined that these members, employed between July 1 2000 and April 5 2006, were entitled to pension benefits broadly similar to those enjoyed by members of the FPS, with retrospective access to the NFPS granted in 2014.On April 1 2014, a first options exercise was supposed to be carried out, intended to allow existing and former retained firefighters the opportunity to join the NFPS as “special members” and pay “appropriate contributions” in respect of their service during the relevant period.However, take-up of the options exercise was not unive...
Current Technology Export Control in China
Technology

Current Technology Export Control in China

When preparing to import a technology from a Chinese exporter, foreign importers will concern about whether the technology can be transferred in entirety smoothly. In such an import, the centerpiece is whether the technology to be transferred can be legally exported under current PRC laws and regulations, and what procedures should be performed at what times if the export is permitted. Understanding the above is also essential for foreign importers to control the pace of the whole technology export process. And this article will sort out the current situation of technology export control in China below. Part I Control of Exported Technologies Any export of Chinese technologies should be in compliance with the technology export provisions set forth in the Export Control Law of the Peopl...
Trump signals he will testify in New York probe into business practices
Business

Trump signals he will testify in New York probe into business practices

Former U.S. President Donald Trump arrives at Trump Tower the day after FBI agents raided his Mar-a-Lago Palm Beach home, in New York City, U.S., August 9, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comRegisterAug 9 (Reuters) - Former U.S. President Donald Trump indicated he would testify on Wednesday in a New York investigation by the state's attorney general into his family's business practices, with the possible testimony coming amid a flurry of legal woes for him.New York State Attorney General Letitia James is conducting a civil investigation examining whether the Trump Organization inflated real estate values. Trump and two of his adult children, Donald Trump Jr. and Ivanka Trump, have agreed to testify.Trump has denied wrongdoing and called...
Medical marijuana in the Sunshine State: what employers doing business in Florida need to know
Business

Medical marijuana in the Sunshine State: what employers doing business in Florida need to know

August 4, 2022 - For nearly half a century, "marijuana" has been classified as a Schedule I controlled substance pursuant to the Controlled Substances Act (CSA). Although cannabis remains illegal at the federal level, a total of 41 states as well as the District of Columbia and Puerto Rico, have successfully legislated medical marijuana programs, 19 states have adopted recreational cannabis programs and 23 states have decriminalized cannabis entirely.Among those, Florida enacted the "Medical Use of Marijuana Act" in 2017, which is codified in Florida's statutes, specifically governing the state public health system, and it implements rules for making medicinal marijuana available to qualified state citizens. As of 2022, nearly 3% of Florida's population is recorded on the state's medica...