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Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Resources Connection Inc. Reports Second Quarter Results for Fiscal 2014
Resources Connection Inc. News Release (01/02/14)
Resources Connection Inc. reported $146 million in revenue in the second quarter of fiscal 2014, up 3.4% from $141 million during the same period last year. The company also reported net income of $7.1 million, up 20% from $5.9 million in the year-ago period. On a quarter-to-quarter basis, the company’s U.S. revenues rose 6.6%.
U.S. Factories Begin to Hit Growth Stride
Wall Street Journal (01/02/14) Brenda Cronin
Manufacturing is building up momentum going into the new year. The Institute for Supply Management’s factory index reading for December was 57.0, an easing from November’s 57.3. Readings above 50 signal expansion.
Manufacturing has expanded for the past seven months, according to ISM surveys, after slowing last spring. Readings for the first half of 2013 averaged 51.5, just over the expansion threshold. In the second half, that pace picked up to 56.3.
Welcome New ASA Members
The ASA board of directors and staff welcome the following new members, which joined since Dec. 16.
Aspect Solutions Inc.
Sacramento, CA
Dycos Staffing Inc.
Greenville, SC
Staff Seekers Inc.
Tustin, CA
Legal Association Publishes Client-Oriented ASA Article
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Health Law’s Uneasy Launch
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Tackling FMLA Abuse–Recent Decision Offers Textbook Guidance
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Louisiana Court Holds That PTO Days Are Considered Wages Under State Law
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