Benefit Corporation gives entrepreneurs and investors an additional choice when determining which corporate form is most suitable to achieve their objectives.  Benefit Corporation is a new class of corporation that:

1. has a corporate purpose of creating a material positive impact on society and the environment;
2. redefines fiduciary duty to require consideration of the interests of employees, community, and the environment; and
3. reports on its overall social and environmental performance using independent, credible, and transparent third-party standards.

Maryland, Vermont, and New Jersey have already passed Benefit Corporation legislation.  Legislation is moving forward with strong bi-partisan support in Virginia, North Carolina, Pennsylvania, New York, Michigan, and Hawaii.

On Thursday, June 2, the Alameda County Bar Association will host a discussion about this national movement and efforts in California with Donald Simon, a partner at Wendel Rosen and one of the co-chairs of the legal working group which drafted California’s Benefit Corporation legislation (AB 361 – Huffman).

To learn more about Benefit Corporations go to http://www.bcorporation.net/publicpolicy

SPEAKER
Donald Simon, a green business practice partner at Wendel, Rosen, Black & Dean LLP, primarily focuses on matters related to construction law, green building and environmental policy.  He has broad experience representing public and private clients on issues of contract litigation, regulatory, and general business.  Donald co-founded the firm’s Green Business Practice Group and led the firm’s internal sustainability efforts and green business certification.  Wendel Rosen is a certified B Corporation.

For more information about the event, please contact the Alameda County Bar Association at (510) 302-2201.

What are your thoughts on bringing this new corporate form to California? 

The airwaives, that is. Wendel Rosen is proud to announce that we’re launching a new radio program, “The Wendel Forum.”   This will be a weekly spot during The Green Morning line up Saturday mornings at 11:26 a.m. on Green 960 AM radio. You may also listen to it live online at thegreenmorning.org.  Green Business Practice Partner Richard “Dick” Lyons will serve as our host. We hope you’ll tune in and then join us here for feedback and discussion!

That loud, horrible sound you may have heard this morning was New England Patriot fans gnashing their collective teeth. This morning the Second Circuit reinstated the NFL’s four game suspension of Patriot quarterback Tom Brady.

Scene of the Crime

Way back in January 2015, Brady was implicated in a plot to underinflate the footballs the Patriots used during the first half of their playoff game against the Colts. The weather was inclement and under inflation makes it easier to grip the footballs.  Deflate-gate sparked a scientific brou ha-ha, pitting scientists who happen to live in New England against scientists in the rest of the known universe.

The Evidence

There is no question that the Patriot equipment managers intentionally underinflated the Patriot’s footballs, but the evidence against Brady was largely circumstantial:

• The Patriot equipment managers exchanged emails and texts about Brady’s preference for underinflated footballs;
• As a veteran, all-pro quarterback Brady knew the balls were underinflated even if there was no “smoking gun” communication, in which Brady expressly requested that they be underinflated.
• The day NFL announced the deflate gate investigation, Brady had a 25 minute call with one of the Patriot equipment mangers, and subsequently had a lengthy personal meeting.
• When the NFL asked to check his phone for communications with the Patriot equipment managers, Brady destroyed his phone.

Round I   NFL 1-Brady 0

In May 2015, the NFL issued a detailed report and suspended Brady four games and docked the Patriots their 2016 first round draft pick. Brady appealed the suspension and has not served his suspension while his appeal worked its way through the slow wheels of justice.

Round II NFL 2-Brady 0

Brady’s initial appeal was heard by NFL Commissioner Roger Goodell, who, not surprisingly, upheld the suspension.

Round III NFL 0-Brady 1

Brady then appealed the suspension to the U.S. District Court for the Southern District of New York. In September 2015, that Court vacated the suspension, finding that the NFL Commissioner had “deprived Brady of fundamental fairness” and had exceeded his authority by suspending Brady.

Round IV NFL 1-Brady 0

But today the Second Circuit held that “the Commissioner properly exercised his broad discretion under the collective bargaining agreement and that his procedural rulings were properly grounded in that agreement and did not deprive Brady of fundamental fairness.”

Round V-?

My bookie, Murray, says the under/over is 48 hours on how long it takes Brady/the Patriots to announce they are “taking this matter all the way to the Supreme Court.” I’m taking the under.