$15 Million Breach of Contract Lawsuit Filed Against Nancy Grace

Television personality Nancy Grace has been named in a breach of contract lawsuit filed by a former colleague.

The lawsuit was filed by Patricia Caruso last month in the Supreme Court of New York. According to the complaint, Caruso and Grace started developing a television series in early 2008. Caruso claims that Grace committed to cooperate in the development of the series, called “Grace’s Cases,” and promised not to proceed unless Caruso was retained and credited as an executive producer.

The lawsuit claims CBS mad Grace an offer to shoot a pilot for the show in May 2009, after months of network pitching under Caruso’s direction. According to the lawsuit, CBS sold the series, now called “Swift Justice With Nancy Grace,” in October 2009. In the Spring of 2010, however, the lawsuit alleges Grace signed on to host the series without Caruso as executive producer.

Caruso is seeking $15 million in damages, in addition to court costs.

If you are involved in a business dispute, please contact a Des Moines Business Lawyer of LaMarca Law Group, P.C., by calling (877) 327-2600.

Cosmed Group, Inc settles dispute

Cosmed Group, Inc settled a patent dispute against Napasol AG. Cosmed Group filed a suit against Napasol for infringement of its patent rights.

Cosmed Group, a leader in steam pasteurizing was awarded a United States Patent in 2004 for their natural vacuum and steamer. In exchange for the settle, Napasol will license the Cosmed products.

An official from Cosmed has said that he the company is ready to put the dispute behind them and they are happy that they are receiving acknowledgment for their patented items.

If you have questions regarding a business issue, you need experienced representation on your side. Contact the Des Moines business lawyers of LaMarca Law Group, P.C. by calling (877) 327-2600.

Windstream Corp completes acquisition of local service provider

Windstream Corporation has reportedly completed the acquisition of a local exchange operator that provides wire line services in Iowa. The small business is located in Iowa, Missouri and Minnesota.

Windstream announced the $1.2 billion acquisition of Iowa Telecom in November 2009 and the entered a tentative settlement. Some Iowa shareholders filed class action suits to challenge this deal. Windstream is one of the leading rural telecom carriers in the U.S. with nearly 3 million fixed access lines. The corporation is buying smaller carriers to boost its revenues and customer base.

If you or your company are looking for legal assistance in business litigation or transaction, contact the Des moines business transaction lawyers of LaMarca Law Group, P.C. by calling (877) 327-2600 today.

How can attorneys provide due diligence in business transactions?

When businesses engage in transactions with consumers or other businesses, they often first perform due diligence. During due diligence, businesses investigate various aspects of the transaction and the transaction partner.

Because due diligence involves many legal issues, due diligence is often performed by attorneys and other outside experts. These experts have the legal and financial knowledge necessary for investigating complicated transactions.

If your business needs legal help with due diligence, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

When can investors sue a company?

When individuals or companies invest in another business, they may expect their invested business to maximize the value of their investment. For public companies, the CEO and board of directors have a fiduciary duty to maximize shareholder value.

Private companies, however, have less of an obligation to maximize investor value. That being said, private companies may be sued for misusing investor funds. For instance, they may be sued for spending investor funds on expenses that are not related to the business.

If you or anyone you know has questions about the rights of investors, contact the Iowa business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

What is D&O insurance coverage?

Many businesses, especially corporations, acquire insurance coverage for their directors and officers. This insurance coverage is typically known as director and officer coverage.

In most cases, this insurance protects directors and officers from the risk of personal liability for the services they provide to the business. This insurance will provide coverage in one of the following two ways:

  • it will compensate the business for any indemnification or advanced expenses for officers and executives
  • it will compensate the officers or executives directly

Because indemnification and D&O insurance coverage deal with a number of legal contingencies, many businesses consult outside attorneys to help them in these matters. If your business has such questions, contact the Iowa indemnification attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

The risks of borrowing from family members to start a business

Many individuals who choose to start a business have trouble finding startup capital. Many significant investors will not risk investing in a startup, and most banks and other lending institutions will be unwilling to make significant loans to new businesses.

For that reason, many individuals turn to family members for loans and investment capital. In either case, individuals and their family members may want to create a formal contract. Such a formal contract will outline the terms of the agreement and account for any reasonable contingencies.

If you or anyone you know has questions about writing up a formal contract to start a business, contact the Des Moines business formation attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

The risks of receiving loans and investment from family members and friends

Many people who want to start their own businesses have trouble securing capital from investors and creditors. Without any other options, they turn to family members and friends.

One advantage of loans from family members and friends is that they may have very low to no interest payments, meaning that the business owner will only owe the principal amount. However, there are many legal risks of receiving loans and investments from family members.

In some cases, the arrangements could turn sour and require a legal resolution. To avoid such a disagreement, family members should draw out formal legal contracts with the assist of an attorney. Moreover, they should also consider the tax implications of such loans and investments.

If you or anyone you know has questions about loans or investments from family members, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

How is compensation determined in a partnership?

When a group of people chooses to form a partnership, they often need to consider a number of issues. One of the most important issues is compensation.

In some cases, the partners will each receive an equal amount of compensation. However, partners may choose to receive different compensations. One of the reasons for receiving different amounts is that each partner may bring different assets into the business.

For instance, one partner may entrust the business with a building and request greater compensation for his asset. On the other hand, one partner may bring more professional expertise to the partnership, and for that reason, request a greater compensation.

If your partnership has questions about compensation issues, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

Cedar Rapids to receive $38 million government economic development grant

Cedar Rapids, Iowa will receive $38 million in U.S. Economic Development Administration grants. The grants are intended to assist in the economic recovery of Cedar Rapids, which suffered significant damage caused by 2008 flooding.

The majority of the grant will fund a new downtown events center, while $3 million will fund construction of a Regional Commerce Center and Small Business Incubator. The grant will likely create new job opportunities for many Iowans.

If your company has questions about the legal implications of securing government funding, contact the Iowa business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.

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