Legal Insights | Summer 2016 | Nicola, Gudbranson & Cooper LLC
Legal Insights is a newsletter of timely and practical legal information that we hope you can use in your professional and personal pursuits. Please contact your attorney at Nicola, Gudbranson & Cooper if you have any questions or comments or if you would like to suggest topics of interest for future issues.
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New rule on overtime compensation
New rule on overtime compensation scheduled to take effect December 1

The U.S. Department of Labor has changed the pay threshold for exempt employees, essentially doubling the minimum annual salary requirement to $913 per week, or $47,476 annually.

Employees who earn more than the new salary threshold are still subject to the duties test to determine eligibility for overtime. Significantly, the new rule does not make any change to the duties test, as Matthew T. Fitzsimmons explains this and its other provisions.

Read the full article.
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Steps companies can take now to prepare for the new overtime rule

Chances are many if not most businesses will be affected by the U.S. Department of Labor's overtime final rule. The government estimates that 19% of white-collar, salaried employees who are currently exempt from overtime will either gain overtime protections or get a raise to the new threshold of $913 per week.

Companies shouldn't wait until the last minute to determine if they are in compliance with the new rule. Jim Juliano explores choices for simple steps employers can take to make the transition easier when the rule takes effect December 1.

Read the full article.
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New legislation defines the fiduciary duties of officers of Ohio corporations and LLCs

There has been significant press lately about the U.S. Department of Labor's new fiduciary rule, which will hold all financial advisors who provide investment advice to a "fiduciary standard"—in other words, to require advisors to put their clients' best interests above all else.

But not many people are aware that the Ohio General Assembly recently passed a law that codifies the fiduciary standards for officers of Ohio corporations and limited liability companies, according to Bruce L. Waterhouse Jr.

Read the full article.
article divider Fiduciary duties of officers of Ohio corporations and LLCs
article divider Employer-side employment litigation is a significant portion of Nicola, Gudbranson & Cooper's overall practice. We have numerous lawyers with the expertise to defend large corporations as well as small- to medium-size businesses in all aspects of employment litigation.

Whether it be state and federal discrimination claims, or accusations such as sexual harassment, workplace bullying or wrongful discharge, NGC has skilled attorneys available for these and other employment litigation needs.

Read about our employer-side litigation practice.
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Firm News
article divider Matthew T. Fitzsimmons has been elected to the board of MidTown Cleveland Inc., a nonprofit economic development corporation that serves a two-square mile area between downtown Cleveland and University Circle. It is supported by area businesses and individuals and works with various elected officials involving development projects in MidTown.
Firm News
Fitzsimmons and Chris Yingling successfully defended a private equity client that had been sued for fraud and tortious interference with contract in U. S. District Court. The case was in connection with a supplier contract that plaintiffs allegedly had with a portfolio company of the client. The judge granted a motion to dismiss all claims against the client. Read the memorandum of opinion and order.
Firm News
Michael E. Cicero has been sworn in as police prosecutor for the city of Richmond Heights. Cicero, who has served as acting prosecutor for Richmond Heights, is also prosecutor for Mayfield Village and the villages of Gates Mills and Hunting Valley. This spring, he was a featured lecturer at a carry concealed handgun class sponsored by the Mayfield Village Police Department.
Firm News
Mike Bertsch has been re-appointed to the board of trustees of the Shaker Heights Public Library for a full seven-year term. The board has complete authority and overall responsibility for policy decisions regarding library programs and services, property, staff and budget.
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Nicola, Gudbranson & Cooper LLC
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Cleveland, Ohio 44115

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Legal Insights
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Copyright 2016 by Nicola, Gudbranson & Cooper LLC

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