Matthew H. Feinberg, Author at Professional Liability Matters

September 18, 2024 Legal Malpractice

Law Firm Facing Malpractice Lawsuit Arising Out of Alleged Bad Advice in White Collar Crypto Defense

FACTS OF THE UNDERLYING ACTION

On September 6, 2024, an action was commenced in New York State Supreme Court, New York County, on behalf of Steven Nerayoff, an attorney and alleged crypto founder, who, when working for the Ethereum blockchain, allegedly “invented the ‘Utility Token’ and a structured method for selling these new digital assets to the public in what became known as the ‘Initial Coin Offering’ (‘ICO’) and created the first ‘Security Token’ or ‘Tokenization’ and Security Token Offering (‘STO’).” Complaint ¶3. Nerayoff’s …

July 31, 2024 Legal Malpractice

Client Wins Dismissal after Legal Malpractice Claims Proven Insufficient

Stellar defense work by Goldberg Segalla partner Christopher F. Lyon and associate Matthew H. Feinberg secured in New York Supreme Court the dismissal of a claim brought against our client in a legal malpractice action.

The case was filed by a plaintiff who sued her former attorneys for allegedly failing to add in a timely manner a volunteer ambulance company to a lawsuit she initiated following a car accident. The plaintiff was treated for injuries at the scene and during that treatment, EMS — in …

Pennsylvania state of United States flag waving cloudy sky background

July 3, 2024 Miscellaneous Professionals

PA Supreme Court Ruling Provides Consumers Both Treble and Punitive Damages Under UTPCPL

The Pennsylvania Supreme Court recently gave consumers a huge win by allowing them to recover both treble damages and punitive damages under Pennsylvania’s Unfair Trade Practices and Consumer Protection Law (UTPCPL).

In Dwyer v. Ameriprise Fin., Inc., 313 A.3d 969 (2024), the Pennsylvania Supreme Court addressed whether the award of treble damages under the UTPCPL was duplicative of an award of punitive damages so that a plaintiff could only recover one or the other. Finding the purpose of treble damages differed from the goal of …

January 22, 2024 Risk Management

Brokers Better Be Ready for Bitcoin ETFs

KEY TAKEAWAYS:

The U.S. Securities and Exchange Commission (SEC) has approved the first spot Bitcoin ETFs, also known as an exchange-traded product (ETP).
With the SEC now permitting spot Bitcoin ETFs, brokers must become deeply familiar with the various cryptocurrencies to minimize the risks.
Clients will rely upon brokers to guide them through these uncharted waters, and being prepared is key.

The theory of an Exchange-Traded Fund (ETF) is not novel. An ETF is a bundle of securities you sell or buy through a brokerage firm …

December 22, 2023 Ethics

Goldberg Segalla Explores Ethics of Attorneys Accepting Cryptocurrency in Law360 Article

Are attorneys ethically permitted to receive advanced fees in cryptocurrency?

Goldberg Segalla attorneys Matthew H. Feinberg and Jeffrey Cunningham of the firm’s Management and Professional Liability practice group address this question in an article for Law360.

Matt and Jeff analyzed ethics opinions on cryptocurrency from the American Bar Association, Nebraska’s Lawyer’s Advisory Committee, New York City Bar Association, Virginia Bar Association, North Carolina State Bar Association, D.C. Bar Association, and Maryland Bar Association.

Based on their analysis, the attorneys conclude that accepting cryptocurrency in …

June 1, 2023 Accountants

FASB Seeking Comments on Proposed Amendments Regarding Digital Assets

The Financial Accounting Standards Board (FASB) is seeking comments by Tuesday, June 6 on its newly proposed Accounting Standards Update (ASU).

With the world of digital assets moving at lightning speed, the FASB’s proposed amendments are part of its ongoing efforts to update accounting standards for, and disclosure of, certain digital assets.

WHAT IS THE FASB?

The FASB, established in 1973, is an independent, private-sector, not-for-profit organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally …