Corporate General Services
Stites & Harbison provides advice on corporate and commercial matters to a number of the region's leading businesses. The firm's lawyers understand the importance of knowing their client's business. The firm advises its clients on business structure, labor, employment and employee benefit matters. Stites & Harbison's lawyers have dealt with venture capital, private placements, initial public offerings, recapitalization and various forms of debt and equity issues. Working closely with accountants and other professional advisors, the firm offers its clients the benefits of its experience with business entities of varying sizes, market segments and stages of growth. The firm's lawyers have considerable experience with private entrepreneurs and growth-oriented companies during their transition from small, closely-held enterprises to large, publicly-held ones. As a result, Stites & Harbison understands how to assist clients in raising any additional capital required for growth and acquisition strategies.
Our corporate attorneys have experience handling sophisticated transactions for leading businesses in a variety of industries. This experience includes:
- Mergers and Acquisitions
- Trade Association Law
- Securities
- Corporate Governance and Disclosure
Key Employee Compensation Alternatives
Many companies struggle with how to best compensate and incentivize their key employees. Salary and short-term bonuses alone may not be sufficient. Many key employees seek to be rewarded for their long-term efforts and to share in any increase in value of the company. Andy Jacobs takes a look at the most common means adopted by companies in this Stites & Harbison Client Alert.
Retirement Plans: How to Guard Against Fiduciary Liability
In recent years, we have seen more and more ERISA class action claims against retirement plan sponsors and committees for breach of fiduciary duty. In the past, such claims were generally only made against very large plans but we are starting to see claims against smaller plans. The primary allegation is often that the fiduciaries failed to seek the lowest fees available or put another way the fiduciaries were “asleep at the wheel.” By one report, 463 lawsuits have been filed over the last eight years claiming fiduciaries failed to obtain the lowest available fees. Lexington office attorney Andy Jacobs takes a look at the issues in this Stites & Harbison Client Alert.
Easy Come, Easy Go: Delaware Court Upends Elon Musk’s $56 Billion Equity Incentive Plan
An extraordinary performance-based stock option plan (the “Grant”) awarded by Tesla, Inc. (“Tesla”) to Elon Musk (“Musk”) was invalidated by the Delaware Court of Chancery last week, despite the fact that over 70% of Tesla’s disinterested stockholders approved it at a 2018 special meeting. Attorney Brian Cromer takes a look at the decision in this Stites & Harbison Client Alert.
Kentucky Chamber Elects Brian A. Cromer to Executive Committee
LOUISVILLE, Ky.—The Kentucky Chamber of Commerce has elected Stites & Harbison, PLLC attorney Brian Cromer to its Executive Committee. Cromer will serve a two-year term on the 14-member Executive Committee, which represents a cross-section of key business and industry leaders from across Kentucky. He continues to serve as a member of the Kentucky Chamber’s Board of Directors.
The Corporate Transparency Act: Is Your Business Prepared For Sweeping New Federal Reporting Requirements?
On January 1, 2021, with bipartisan support, Congress enacted the Corporate Transparency Act (“CTA”) as part of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) when it overrode former President Trump’s veto of the NDAA. As part of an effort to combat money laundering, the financing of terrorism, and other illicit activities, the CTA requires business entities formed or registered in the United States that fall within the definition of a “reporting company” to disclose beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”) of the Department of Treasury. While the purpose of the legislation may be commendable, it casts an extremely wide net and imposes new compliance burdens on businesses beginning in 2024.
Bluegrass Area Chapter of American Red Cross Elects Brady W. Dunnigan to Board
LEXINGTON, Ky.—The Bluegrass Area Chapter of the American Red Cross has elected Stites & Harbison, PLLC attorney Brady W. Dunnigan to its Board of Directors. He will serve an initial two-year term.
Beware of Part-Time Employee 401(k) Plan Eligibility in 2024
Andy Jacobs takes a look at 401(k) plan eligibility by part-time employees in this Stites & Harbison Client Alert.
U.S. Supreme Court Rules that Registering to Do Business in a State May Constitute Consent to Jurisdiction
Rachel Owsley and Daniel Boswell take a look at what registering to do business in a state may mean in regards to jurisdiction in this Stites & Harbison Client Alert.
Expansion of Retirement Plan Self-Correction Program
Attorney Andy Jacobs explains the Secure 2.0 Act of 2022 and the expanded ability of plan sponsors to self-correct retirement plan errors without IRS approval in this Stites & Harbison Client Alert.
Tom Halbleib Named Stites & Harbison's Louisville Office Executive Member
LOUISVILLE, Ky.—Stites & Harbison, PLLC has named attorney W. Thomas Halbleib, Jr., as its Louisville Office Executive Member.