crypto

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 …

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Seth Laver Provides Guidance on Properly Closing a File with Attorney Protective

Goldberg Segalla’s Seth L. Laver, in an article written for Attorney Protective, provides insight to attorneys on proper case-closing procedures.

“Best practices mandate that all professionals, notably attorneys, engage in a series of important tasks when closing a file,” said Seth, a partner in the firm’s Management and Professional Liability practice and vice-chair of its Accountants Professional Liability practice.

“Poor practices at the end of an assignment,” he added, “can lead to conflicts issues, document retention woes, client confusion or worse.”

An effective …

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Christopher F. Lyon Delves into Risks of ChatGPT in Legal Field for NYLitigator

Christopher F. Lyon, partner in Goldberg Segalla’s Management and Professional Liability practice group, explored the growing risks and repercussions of ChatGPT use by lawyers in NYLitigator, NYSBA’s Commercial & Federal Litigation Section publication.

Chris said staying updated on emerging technologies is often beneficial in the legal field, citing the success of early adopters of online legal research. However, he cautioned that early adoption also comes with risk as one must navigate the limitations and capabilities of any new technology and not assign it …

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Insurance Brokerage Wins Summary Judgment in Lawsuit Triggered by Cyberattack

A lawsuit that included allegations ranging from gross negligence to false and deceptive advertising over nearly three decades, brought against a major international insurance brokerage represented by Goldberg Segalla, has been dismissed by a New York court.

The case stemmed from a cyberattack and social-engineering scheme that resulted in the loss of nearly $3 million sustained by the plaintiffs — a high net-worth couple and the charitable foundation they ran — who after they were targeted realized they had virtually no insurance to cover their …

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Law Firm Cleared in Case that Alleged Scheme to Defraud

A New York law firm sued in connection with a business deal gone awry, and accused of aiding in a scheme to defraud, saw the case against it dismissed thanks to a strategic and fervent defense waged by Goldberg Segalla partner Danielle N. Malaty.

Heard in the Northern District of Illinois, the case stemmed from a complaint by a plaintiff who claimed the target defendant — a wealthy investor — led an alleged racketeering scheme to defraud him and breach fiduciary duties.

The plaintiff …

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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 …

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Client Cleared of Malpractice, Wins Summary-Judgment Ruling

A Pennsylvania attorney sued in connection with a workers’ compensation matter was cleared of legal malpractice and the suit against him was dismissed after a court agreed with the arguments put forth by Goldberg Segalla partner Seth L. Laver.

The case stemmed from the alleged injuries suffered by a hotel banquet worker who claimed his decade-plus career resulted in cumulative trauma to his back. The claimant eventually underwent surgery from which he sustained a serious infection, leading to a lengthy hospital stay.

Central to …

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Christopher F. Lyon Co-Authors Article Exploring E&O Risks of Remote Professional Services in The Brief

Christopher F. Lyon – a partner in the firm’s Management and Professional Liability practice group – co-authored an article in ABA’s The Brief on the transition to remote work pre- and post-pandemic, and the new E&O risks associated with remote work in professional services. 

The article examines the shift to remote work for professionals including lawyers, insurance brokers, and financial-service providers.  

While the swift and growing transition, paired with advances in technology, provides increased flexibility and a cut in costs on expenses such as travel …

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Pre-Employment Testing for Marijuana?

In May 2019, Section 8-107 of title 8 of the NYC admin code was amended to make it unlawful for an employer and others to test for marijuana or THC as a condition of employment.  This law becomes effective May 10, 2020.  The NYC Commission on Human Rights is promulgating rules for the implementation of this law. There was a public hearing on Jan. 9, 2020 concerning potential exceptions to the general prohibition on pre-employment testing to which written testimony by interested parties was submitted.  There …

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