BLOGS

AVOIDING OVERTIME AND FAIR LABOR STANDARDS ACT CLASS ACTION SUITS

THE BEST DEFENSE IS A GOOD DEFENSE Although the number of wage and hour class-action lawsuit filings decreased last year, the settlement valuation has more than tripled over the last two years. As a federal law, in FLSA (Fair Labor Standards Act) it applies to all companies in all states, including Illinois.  Plaintiff attorneys view FLSA lawsuits as promising and lucrative ...
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CHANGES TO THE ILLINOIS LIABILITY COMPANY ACT

The Illinois General Assembly has made sweeping changes to the Illinois Limited Liability Company Act (“LLC Act”), all of which are encompassed within a lengthy and detailed 112-page bill. These changes were effective July y 1, 2017, and apply to all Illinois limited liability companies, even those limited liability companies that already have an operating agree...
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HOW DOES THE BUSINESS JUDGEMENT RULE PROTECT YOU AS AN OFFICER OR DIRECTOR?

Does the President’s decision have to be right? What happens if you take a risk and the Company fails? Are you liable to your Shareholders?  In your role as an officer or director, it is important you understand how the business judgment rule works and how it can benefit you if you face any legal trouble in the future. The business judgment rule is a legal principle that makes office...
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10 TIPS TO NEGOTIATING YOUR COMMERCIAL LEASE AGREEMENT

Finding a location can be one of the most stressful times for a business owner. Especially now that vacancy rates are so low. According to industry publications, industrial vacancies reduced further in the 3rd quarter of 2018 despite the number of newly completed locations following the construction boom of 2017.  Additionally, office vacancies decreased in the 2nd and 3...
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