Law Firm News

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Law Firm News

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Rosenn Jenkins & Greenwald

Atty. Colbert to present "Estate Planning and End of Life Issues for the Elderly and Disabled" for Lorman Education Services
Brenda D. Colbert, Esq., an associate attorney at Rosenn Jenkins & Greenwald, LLP, will be presenting at an upcoming Lorman educational seminar on August, 15, 2006. The seminar is entitled, "Estate Planning and End-of-Life Issues for the Elderly and Disabled in Pennsylvania" and will take place at the Holiday Inn in Wilkes-Barre. Attorney Colbert is an associate in the Estates and Tax Department of the firm.

08-15-2006

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Rosenberg, Freedman & Goldstein LLP

Publication by Firm Attorney Susan Levin: Analysis of Changes to Fdederal Medicaid Laws under the Deficit Reduction Act of 2005
The firm is proud to report that Attorney Susan H. Levin is a contributing author of a white paper on changes to federal Medicaid laws under the Deficit Reduction Act of 2005. The White Paper was published on June 20, 2006 as a special edition of the NAELA JOURNAL, the official journal of the National Academy of Elder Law Attorneys.

08-15-2006

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Rosenberg, Freedman & Goldstein LLP

A Summary of the Massachusetts Health Care Reform Law, Ch. 58 of the Acts of 2006: An Act Providing Access to Affordable, Quality, Accountable Heath Care
On April 12, 2006, Governor Mitt Romney signed into law landmark legislation that would reform the reform administration of health care in Massachusetts and provide nearly universal health care coverage to state residents. This legislation mandates the purchase of individual health insurance and provides government subsidies to ensure affordability. The Health Care Reform Law will require the participation by both individuals and employers. Implementation will begin in phases starting October 1, 2006 with full implementation expected by July 1, 2007.

Individual's Responsibility
Beginning in July 2007, all residents 18 years of age or older must obtain health coverage. This mandate will be enforced through the state income tax system. Subject to limited exemptions, residents will be required to report on their state income tax returns whether they have maintained health insurance that qualifies as “creditable coverage” over the prior year. In 2007, the penalty for non-compliance will be loss of the personal exemption. In 2008 and after, the penalty will be half the cost of the lowest available yearly premium.

Employer Responsibility
In addition to individual responsibility, employers will be mandated to contribute to the cost of health insurance. Employers with more than 10 employees must provide a “fair and reasonable” contribution toward health insurance coverage or otherwise pay a “Fair Share” contribution to the state of up to $295 annually per employee, prorated for part-time employees. Employers in this category will also be charged a surcharge if their employees use a certain amount of free care each year.

MassHealth Expansion
MassHealth coverage is also expanded under the Health Care Reform Law. Children in families earning up to 300% of the Federal Poverty Level (about $60,000 for a family of four), will be eligible, effective July 1, 2006. In addition the enrollment cap on MassHealth Essential (unemployed), CommonHealth (people with disabilities) and HIV programs will be increased. Also restored are dental, dentures, eyeglasses benefits previously cut in 2002 for adults on MassHealth.

Commonwealth Health Insurance Connector
The Health Care Reform Law creates the Commonwealth Health Insurance Connector to “connect” individuals to insurance products by offering affordable quality insurance products. The Connector, governed by a board of eleven members, is structured to work as an independent authority. Both individuals and small businesses (50 or fewer employees) can purchase products through the connector. Employers with more than 10 employees will be required to offer a Section 125 “cafeteria plan” that permits workers to purchase health care with pre-tax dollars. Lower cost products for individuals ages 19 through 26 will be offered through the connector.

The statute provides for open enrollment for purchase of small group market insurance plans through the Connector from March 1, 2007 through May 31, 2007. The Connector will begin offering these Plans to small groups on April 1, 2007. The purchase of subsidized insurance under the Commonwealth Care Health Insurance Program (discussed below) will begin on October 1, 2006.

Subsidized Health Insurance
Subsidized health care insurance will be provided through the Commonwealth Care Health Insurance Program which will subsidize coverage to low income uninsured individuals and their families living below 300% of the federal poverty level. There will be no deductibles and people living below 100% of the federal poverty level will not be responsible for premiums. Premiums will be based on a sliding scale for individuals and families living above 100% of the federal poverty level and below 300%. To be eligible for the subsidy individuals must meet the following criterion: (1) have been a Massachusetts resident for the last six months; (2) not be eligible for MassHealth, Medicare, or the Child Health Insurance Program (CHIP); (3) family member’s employer must not have provided health insurance coverage in the last six months for which the individual is eligible and of which the employer covers at least 20% of the annual premium cost of a family health insurance plan or at least 33% of an individual health insurance plan (which may be waived in certain circumstances); (4) and must not have declined employer coverage in favor of a financial incentive. Commonwealth Care Health Insurance Program plans will be offered by managed care organizations (Neighborhood Health Plan, Boston Medical Center Health Net, Network Health, and Fallon Community Health Plan), which have provided Medicaid managed care insurance under contract for MassHealth enrollees.

Free Care Pool
Providers are currently reimbursed for uncompensated care from the Free Care Pool. The Free Care Pool will be transitioned to a new Safety Net Care Fund as more uninsured gain coverage and uncompensated care drops. The Safety Net Care Fund will also include Medicaid funds. Hospitals and community health centers will be supported through a grant program for safety net services.

Insurance Market Reforms
The Health Care Reform Law includes several insurance market reforms. Insurers are encouraged to create plans with lower premiums that still provide comprehensive benefits. Current mandated health benefits, including mental health care, are protected. Non-group individual health insurance market will be merged into the small group market. This change is projected to cut individual premiums by roughly 25%. New, lower-premium plans will be created for individuals age 19 through 26 years old. Health plans will be required to offer family coverage to young adults for two years after they lose their dependent status or up to age 25, whichever comes first.

ERISA
The Employee Retirement Income Security Act of 1974 is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans. Because the Health Care Reform Law relates to an employee benefit plan, the new law may be challenged on the grounds that some of its provisions are preempted by ERISA. Stay tuned.

Conclusion
The new law represents a bold effort to bring health insurance coverage to all Massachusetts residents and families. Many questions remain to be answered about the implementation of this program over the next two years.

08-15-2006

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Motley & Rice, L.L.C.

Notice of Filing Securities Class Action against Witness Systems, Inc., David B. Gould, Nicholas Discombe, William Evans, Joel G. Katz, Thomas J. Crotty, and Loren Wimpfheimer
"Motley Rice LLC announces that it has filed a securities fraud class action complaint in the United States District Court for the Northern District of Georgia against Witness Systems, Inc. (""Witness Systems"" or the ""Company""), David B. Gould, Nicholas Discombe, William Evans, Joel G. Katz, Thomas J. Crotty, and Loren Wimpfheimer. The case was filed on behalf of a proposed class of persons who purchased or otherwise acquired Witness Systems stock between April 23, 2004, and August 11, 2006, inclusive (the ""Class Period"") and were allegedly damaged thereby. A copy of the complaint can be obtained from the office of the Clerk of the United States District Court, Northern District of Georgia, 75 Spring Street, S.W., Atlanta, Georgia 30303 or from Motley Rice by e-mailing or calling Sheila Feerick at investorsupport@motleyrice.com or 843-216-9046.

If you are a member of the proposed class, you may request that the court appoint you as lead plaintiff no later than sixty (60) days from today. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of his or her choice, or may remain an absent class member. There are certain legal requirements to serve as lead plaintiff, which Motley Rice would be happy to discuss with you.

The complaint alleges that the Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the ""Exchange Act"") and Rule 10b-5 promulgated thereunder by failing to disclose to the investing public that the defendants had engaged in the backdating of stock options grants to certain officers of the Company and by failing to account properly for expenses arising from the backdating. The complaint further alleges that defendants thus violated Generally Accepted Accounting Principles and filed false and misleading reports with the Securities and Exchange Commission. The complaint also contends that one or more of the defendants engaged in substantial and suspicious insider trading while in possession of material, non-public knowledge of the alleged backdating scheme.

On July 27, 2006, defendant Evans, the Company's Chief Financial Officer, disclosed that the Company was reviewing its stock options grants. On August 8, 2006, the Company announced that its Board of Directors had formed a special committee to investigate the stock option practices because the Company had identified some ""discrepancies."" The Company delayed the filing of its Form 10-Q for the period ending June 30, 2006, pending the outcome of the investigation. The Company admitted that it ""believes it will need to record additional non-cash charges for stock-based compensation expense in prior periods . . . [which] will total approximately $10 million."" As a result of the internal investigation, the Board stated that the Company's previously issued financial statements from February 2000 through June 30, 2006, should no longer be relied upon. Just three days later, on August 11, 2006, the Company disclosed that it intended to restate its prior financials and revealed that NASDAQ informed it on August 11 that the Company may be subject to delisting as a result of the matters disclosed thus far.

The price of Witness Systems common stock has fallen from its July 27, 2006, closing price of $18.19 per share to as low as $12.76 per share. The stock closed at $12.91 per share on August 11, 2006.

08-15-2006

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McLane, Graf, Raulerson & Middleton Professional Association

McLane Director Named to Board of Opera New Hampshire
Jennifer L. Parent, a director in the litigation department of the law firm of McLane, Graf, Raulerson & Middleton, Professional Association has recently been elected as a director of Opera New Hampshire, performing at the Palace Theater in Manchester.

Operas scheduled this season include The Merry Widow by Franz Lehar in October 2006 and Manon Lescaut in May 2007.

Jennifer will serve a three-year term.

08-15-2006

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McCarthy Tetrault, L.L.P.

The Honourable James M. Farley, Q.C. joins McCarthy Tétrault
The Honourable James M. Farley, Q.C., today joined McCarthy Tétrault as Senior Counsel following an illustrious 17-year career as the supervising judge of the commercial list of the Ontario Superior Court of Justice. Mr. Farley will be working with our business law, bankruptcy and restructuring and litigation groups on a firm-wide basis, including work on our north/south initiatives.

""Jim Farley has been at the forefront of every major commercial insolvency since 1991, including Air Canada, Eatons, and Stelco,"" said Iain Scott, Chair and CEO of McCarthy Tétrault. ""His stature will raise the profile and capability of our practice by providing counsel, mentoring and advice to our insolvency, litigation and business law lawyers. He will also be available to provide our clients with strategic business, litigation and insolvency-related advice.""

A Rhodes Scholar (B.A. 1964; M.A. 1968), Mr. Farley completed his law degree at the University of Toronto in 1966 and was called to the Ontario bar in 1968, after which he began practising as a corporate / commercial solicitor.

He is a member of the International Insolvency Institute, Insolvency Institute of Canada, Insol International, American Law Institute, American College of Bankruptcy, American Bankruptcy Institute, International Bar Association and International Law Association. He has participated in the American Law Institute NAFTA transnational insolvency project, the INSOL / UNCITRAL judicial colloquia and the World Bank insolvency practices project. He also has delivered papers on various topics including insolvency, corporate law, commercial courts, ADR, WTO and law practice management in many countries, including Canada, the USA, England, China, Germany, France, Brazil, New Zealand, Argentina and Australia.

08-15-2006

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Jeffer Mangels Butler & Marmaro LLP

Tax Attorney Marilyn Barrett Starts 'New Chapter' at JMBM
Jeffer, Mangels, Butler & Marmaro LLP (JMBM), one of California’s foremost full-service law firms, today announced that Marilyn Barrett has joined the Firm as Partner, bringing with her an extensive tax and transactional background.

""Marilyn adds depth to our corporate and tax practices,"" said Burton Mitchell, chair of JMBM’s Taxation, Trusts & Estates Group. “Her expertise in tax matters involving corporate mergers, acquisitions and reorganization as well as deferred compensation complements the Firm's other practice areas and expands the resources and services we can provide to our clients.""

Barrett has more than 25 years of experience handling all aspects of taxation including corporate, partnership, tax planning and controversy, entertainment, real estate, trusts and corporate matters. Her tax controversy work includes federal and state audits, administrative protests/petitions for redetermination and tax court litigation. She is also a Certified Public Accountant.

""I was attracted to JMBM because of the opportunity to work with dynamic tax and corporate teams as well as to provide more comprehensive services to my current clients,"" Barrett said. ""JMBM is an entrepreneurial firm known for providing its attorneys and clients with excellent service.""

Barrett holds a Bachelors of Science in accounting from the University of Kansas, and she received her Juris Doctorate from the University of California Los Angeles, where she served as Associate Editor of the UCLA Law Review. She is admitted to the bar in California, and she is admitted to practice before the U.S. Tax Court. Barrett chaired the taxation section of the California Bar Association from 1996-97, and she chaired the same section for the Los Angeles Bar Association from 1997-98.

An accomplished author, Barrett's Just Sign Here, Honey: Womens’ 10 Biggest Legal Mistakes & How To Avoid Them, was published by Capital Books in 2003. That was an updated version of her earlier book, The Ten Biggest Legal Mistakes Women Can Avoid. She has also written dozens of articles on various legal and tax issues.

JMBM has one of the largest tax, estate planning and trust administration practices in California. The Firm's tax attorneys assist clients and their businesses in a broad range of transactional tax matters, including entity formation, acquisitions and dispositions and international taxation.

08-15-2006

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