Recent Publications
Many business people and professionals, including physicians, have seen liquidated damages provisions in both business and employment agreements. Effectively, the liquidated damages provisions in such agreements may provide that in the event one party to the agreement breaches the contract, that breaching party agrees that the other party will have suffered damages in a fixed (liquidated) amount.
As per New York’s Stop Hacks and Improve Electric Data Security (“SHIELD”) Act, which was signed into law on July 25, 2019, significant amendments have been made to the existing New York State Information Security Breach and Notification Act (“NY Breach and Notification Act”). This law governs notification and reporting obligations in the event of a breach involving “private information”, including those in the health care sector. The new rules governing breach notifications went into effect October 23, 2019, while the data security requirements go into effect March 21, 2020.
Thorough pre-litigation preparation is essential to any lawsuit, but it is particularly so in a case contesting conduct of those who manage corporations and limited-liability companies. Such entities can be closely held, meaning their stock or membership interests are not freely traded and are held by relatively few individuals. In a perfect world, those in charge have the expertise and integrity to manage operations and finances.
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