National Law Review (04/10/14) Adam L. Bartrom
Valero must rescind its social media policy and notify employees that they may discuss the terms and conditions of their employment on social media platforms, according to a settlement with the Steelworkers that was approved by the U.S. National Labor Relations Board. The policy infringed upon the employees’ Section 7 rights. Social media policies have been a top priority for the board, which frequently has ruled in favor of employees.
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.
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