Skip to content

News & Media

Newsfeed

Illinois Distributor’s Statute: Navigating the Litigation “Off Ramp” for Non-Manufacturer Defendants After Cassidy v. China Vitamins LLC

In Cassidy v. China Vitamins LLC, 2017 IL App (1st) 160933 (“China Vitamins”), the First District Appellate Court made it a lot harder for non-manufacturers to free themselves from litigation through the Illinois Distributor’s statute (sometimes referred to as the “innocent seller’s statute” or “seller’s exception”). Under China Vitamins’ new interpretation of the…

Supreme Court Confirms that Assets Held in an Inherited Individual Retirement Account Are Not Exempt From a Debtor’s Bankruptcy Estate

On June 12, 2014, the Supreme Court ruled that inherited IRAs, unlike traditional IRAs, do not receive protection in bankruptcy. Depending on the size of the IRA and the age of the intended beneficiary(ies) and estate planning considerations, IRA holders may wish to consider creating a trust for each intended beneficiary, and designating…

Outside Business Activity*, Practical Compliance and Risk Management for the Securities Industry

The Financial Industry Regulatory Authority (“FINRA”)1 has adopted and proposed important changes to the current regulatory scheme and obligations relating to notice and supervision of outside business activities and private securities transactions. For a number of years, the National Association of Securities Dealers, Inc. (“NASD”) rules 3030, 3040 and 3050 were the principal…

Lawrence Kamin maintains this website to provide general information about its services and legal expertise. While we try to keep the information timely and accurate, we make no guarantees. We make every effort to correct errors brought to our attention. Full Disclaimer
† Select attorneys have received this recognition