Feb 21, 2023 | Blog, Shareholder Investigations
Norfolk Southern Stock Investors Who Have Held NSC Stock Since At Least February 2, 2023 Encouraged to Contact Kehoe Law Firm, P.C. – Breach of Fiduciary Duties Investigation
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Norfolk Southern Corporation (“Norfolk Southern”) (NYSE: NSC) breached their fiduciary duties to Norfolk Southern and its shareholders.
The investigation concerns whether members of Norfolk Southern’s board of directors or senior management failed to manage Norfolk Southern in an acceptable manner, in breach of their fiduciary duties to Norfolk Southern, and whether Norfolk Southern and its shareholders have suffered damages as a result.
On February 3, 2023, a Norfolk Southern train derailed around East Palestine, Ohio, near the border with Pennsylvania, leaking toxins such as vinyl chloride, butyl acrylate, benzene residue, and other combustible liquids.
Norfolk Southern now faces numerous lawsuits and investigations from regulators and individuals stemming from the derailment.
NORFOLK SOUTHERN INVESTORS WHO HAVE HELD THEIR NSC STOCK SINCE AT LEAST FEBRUARY 2, 2023 ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR SECURITIES.
SHAREHOLDERS OF NORFOLK SOUTHERN WHO HAVE HELD THEIR STOCK SINCE AT LEAST FEBRUARY 2, 2023 ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jan 24, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers FG New America Acquisition Corp. (“FG New America”) (NYSE: FGNA), now known as OppFi Inc. (“OppFi”) (NYSE: OPFI), breached their fiduciary duties to FG New America’s shareholders.
The investigation concerns whether FG New America’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether FG New America’s shareholders suffered damages as a result.
On July 16, 2021, FG New America shareholders of record as of June 21, 2021 approved a merger between FG New America and OppFi.
In March 2022, the California Department of Financial Protection and Innovation sued OppFi for regulatory violations and exceeding interest rate caps, and both the CEO and the CFO resigned within a few days thereof.
On December 9, 2022, OppFi announced that its Audit Committee determined that all financial statements for 2021 “should no longer be relied upon due to a misapplication of accounting guidance in connection with the Company’s calculations of diluted earnings per share for such periods.”
OppFi’s stock price has declined significantly since the merger.
INVESTORS OF OPPFI STOCK WHO HELD FG NEW AMERICA SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR KATAPULT/FINSERV SECURITIES.
OPPFI SHAREHOLDERS WHO HELD FG NEW AMERICA STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Oct 10, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Fox Corporation (“Fox”) (NASDAQ: FOX, FOXA) breached their fiduciary duties to Fox and its shareholders.
FOX INVESTORS THAT HAVE HELD THEIR STOCK (FOX, FOXA) SINCE BEFORE FEBRUARY 2021 AND WHO WISH TO DISCUSS POTENTIAL LEGAL CLAIMS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C.
The investigation concerns whether members of Fox’s board of directors or senior management failed to manage Fox in an acceptable manner, in breach of their fiduciary duties, and whether Fox and its shareholders have suffered damages as a result.
On February 4, 2021, Smartmatic USA Corporation (“Smartmatic”) filed a defamation lawsuit against Fox, alleging that Smartmatic suffered severe harm after numerous Fox News on-air personalities made misrepresentations about Smartmatic’s business in the wake of the November 2020 presidential election.
INVESTORS OF FOX STOCK SINCE BEFORE FEBRUARY 2021 ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Apr 20, 2022 | Blog
The Financial Consequences of Medical Billing, Coercive Credit Reporting, and Privacy Intrusions Due to Inaccurate Medical Bills
The Consumer Financial Protection Bureau (“CFPB”) has issued a report that examines the financial consequences of medical billing and collections endured by individuals and families across the country.
According to the CFPB:
People report that they receive medical bills that are inaccurate or not owed, and they describe the subsequent and significant difficulties identifying, verifying, or eliminating the bills.
People also report learning of an outstanding medical bill only after experiencing a drop in their credit score and being told that only paying the bill would remove the negative collections information from their credit report.
When they did receive prior notice of medical bills in collections, people reported that debt collectors included detailed medical information that resulted in privacy breaches of sensitive medical information. Many people reported paying medical bills to avoid adverse financial and privacy consequences, even when they did not believe the bill to be valid.
When allegedly unpaid or unresolved medical bills get referred to collections and reported to the credit reporting system, people face reduced access to credit, increased risk of bankruptcy, and difficulty securing employment and housing. These negative consequences can occur even when the underlying bill is erroneous, not owed, or unverified.
More Key Findings from the CFPB Report
People do not recognize or owe alleged medical bills, but they continue to be contacted by debt collectors. Debt collectors are required to take reasonable steps to verify debts. In some complaints, however, individuals stated that they did not recognize the company sending them collection notices or that the notices did not contain sufficient information to identify and verify the alleged debt. People also submitted complaints about being contacted by debt collectors for bills that had already been paid in full, covered by insurance, or resolved through charity care.
People suspect unpaid medical bills are being surreptitiously and unlawfully placed on their credit reports. Many people submitting complaints about medical bills state that they only realized the bills were in collections when they checked their credit report or when they were applying for credit. This coercive use of the credit reporting system by debt collectors is an illegal but common debt collection tactic, especially for error-prone debts, such as medical bills.
People experience their credit reports being used as weapons to force payments. People reported that once medical bills were placed in collections and furnished to credit reporting agencies, credit scores stopped reflecting their ability to repay debts. Their lower credit scores became weapons debt collectors could use against them to force payment. In some instances, individuals reported becoming so frustrated trying to resolve allegedly unpaid bills that they gave in and paid the debt collector. They just wanted to make the collection efforts stop and to increase their credit scores.
People report that collection notices contained large amounts of highly sensitive medical information. Individuals described feeling that collection notices included more personal medical information than authorized or permissible under the Health Insurance Portability and Accountability Act (“HIPAA”). The notifications they received often included detailed bills, which listed procedures, tests, and medications.
The consumer experiences in the report, according to the CFPB, strongly suggest that many medical bills reported on credit reports are disputed, inaccurate, or not owed.
According to the CFPB, this finding supports previous CFPB research that found medical bills are less predictive of future repayment than other bills or credit obligations. Specifically, medical bills do less to help lenders determine the likelihood that a credit applicant will repay a new credit extension, like a personal loan.
For more information about the CFPB’s report and for details about efforts by the CFPB to mitigate the impact allegedly owed medical bills can have on a person’s ability to participate in the financial marketplace, please CLICK HERE.
Source: Consumerfinance.gov
Apr 13, 2022 | Blog, Shareholder & Investor Protection
Investors of Electric Last Mile Solutions who held Forum Merger III stock shares are encouraged to CLICK HERE to contact Kehoe Law Firm, P.C. and provide details of their securities holdings.
On June 24, 2021, Forum Merger III shareholders of record as of May 20, 2021 approved a merger between Forum Merger III and ELMS.
On February 1, 2022, after the market closed, ELMS announced that certain Electric Last Mile Solutions executives had resigned following an investigation conducted by a Special Committee of the Board of Directors of ELMS.
Additionally, Electric Last Mile Solutions acknowledged that its previously issued consolidated financial statements should be restated and, therefore, should no longer be relied upon.
On March 11, 2022, ELMS announced that the SEC is investigating matters discussed in previous Electric Last Mile Solutions filings, including disagreements with an accounting firm and compliance with NASDAQ’s listing rules.
ELMS SHAREHOLDERS WHO HELD FORUM MERGER III STOCK ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Apr 3, 2022 | Blog, Overtime & Wages
Wages Include Overtime Pay in California
In California, wages are considered compensation for an employee’s personal services, whether paid by check or cash, or the fair cash value of noncash payments such as meals and lodging.
Payments are considered wages even if the employee is a casual worker, a day or contract laborer, part-time or temporary worker, or paid by the day, hour, or any other method or measurement.
In California, wages include, but are not limited to:
- Salaries, hourly pay, piece rate, or payments by the job.
- Commissions and bonuses.
- Overtime and vacation pay.
- The reasonable cash value of compensation other than cash.
Required Pay for Overtime for Nonexempt Employees in California
In California, the general overtime provisions are that a nonexempt employee 18 years of age or older, or any minor employee 16 or 17 years of age who is not required by law to attend school and is not otherwise prohibited by law from engaging in the subject work, shall not be employed more than eight hours in any workday or more than 40 hours in any workweek unless he or she receives one and one-half times his or her regular rate of pay for all hours worked over eight hours in any workday and over 40 hours in the workweek (or double time as specified below).
Eight hours of labor constitutes a day’s work, and employment beyond eight hours in any workday or more than six days in any workweek requires the employee to be compensated for the overtime at not less than:
One and one-half times the employee’s regular rate of pay for all hours worked in excess of eight hours up to and including 12 hours in any workday, and for the first eight hours worked on the seventh consecutive day of work in a workweek; and
Double the employee’s regular rate of pay for all hours worked in excess of 12 hours in any workday and for all hours worked in excess of eight on the seventh consecutive day of work in a workweek.
In California, there are, however, a number of exemptions from the overtime law. An “exemption” means that the overtime law does not apply to a particular classification of employees. There are also a number of exceptions to the general overtime law stated above. An “exception” means that overtime is paid to a certain classification of employees on a basis that differs from that stated above. In other words, an exception is a special rule.
What is the “regular rate of pay,” and how does it relate to overtime?
Overtime is based on the regular rate of pay, which is the compensation you normally earn for the work you perform. The regular rate of pay includes a number of different kinds of remuneration, such as hourly earnings, salary, piecework earnings, and commissions. In no case may the regular rate of pay be less than the applicable minimum wage.
CLICK HERE for more information about computing the regular rate and for examples of how to calculate the regular rate of pay.
If an employee works unauthorized overtime is the employer obligated to pay for it?
Yes! California law requires that employers pay overtime, whether authorized or not, at the rate of one and one-half times the employee’s regular rate of pay for all hours worked in excess of eight up to and including 12 hours in any workday, and for the first eight hours of work on the seventh consecutive day of work in a workweek, and double the employee’s regular rate of pay for all hours worked in excess of 12 in any workday and for all hours worked in excess of eight on the seventh consecutive day of work in a workweek.
An employer can discipline an employee if he or she violates the employer’s policy of working overtime without the required authorization. California’s wage and hour laws, however, require that the employee be compensated for any hours he or she is “suffered or permitted to work, whether or not required to do so.” California case law holds that “suffer or permit” means work the employer knew or should have known about.
Is a bonus included in the regular rate of pay for purposes of calculating overtime?
Yes, if it is a non-discretionary bonus. A non-discretionary bonus is included in determining the regular rate of pay for computing overtime when the bonus is compensation for hours worked, production or proficiency, or as an incentive to remain employed by the same employer. Incentive bonuses include flat sum bonuses.
Are any amounts excluded from the regular rate of pay?
Yes, there are certain types of payments that are excluded from the regular rate of pay. Examples of some of the more common exclusions are sums paid as gifts for special occasions, expense reimbursements, payments made for occasional periods when no work is performed due to vacation, holiday, illness, failure of the employer to provide sufficient work, premium pay for Saturday, Sunday, or holiday work (where such premium rate is not less than one and one-half times the rate established in good faith for like work performed in non-overtime hours on other days), and discretionary bonuses.
Are salaried employees entitled to overtime?
A salaried employee must be paid overtime unless they meet the test for exempt status as defined by federal and state laws, or unless they are specifically exempted from overtime by the provisions of the California Labor Code or one of the Industrial Welfare Commission Wage Orders regulating wages, hours and working conditions.
Can an employer require an employee to work overtime?
Yes. Generally, an employer may dictate the employee’s work schedule and hours. Additionally, under most circumstances the employer may discipline an employee, up to and including termination, if the employee refuses to work scheduled overtime. However, an employer cannot discipline an employee for refusing to work on the 7th day in a workweek and is subject to a penalty for causing or inducing an employee not to take a day of rest. An employee who is fully apprised of the entitlement to rest may independently chooses not to take a day of rest.
When must I be paid for the overtime hours I work?
Overtime wages must be paid no later than the payday for the next regular payroll period after which the overtime wages were earned. (Labor Code Section 204) Only the payment of overtime wages may be delayed to the payday of the next following payroll period as the straight time wages must still be paid within the time set forth in the applicable Labor Code section in the pay period in which they were earned; or, in the case of employees who are paid on a weekly, biweekly, or semimonthly basis, not more than seven calendar days following the close of the payroll period.
Can an employee waive his or her right to overtime compensation?
No! California law requires that an employee be paid all overtime compensation notwithstanding any agreement to work for a lesser wage. Consequently, such an agreement or “waiver” will not prevent an employee from recovering the difference between the wages paid the employee and the overtime compensation he or she is entitled to receive. (Labor Code Section 1194).
Source: California Department of Industrial Relations (accessed 04.03.2022); Employment Development Department, State of California (accessed 04.03.2022).
Employees in California Who Believe They Have Been Victims of Employer Wage and Hour Violations
EMPLOYEES IN CALIFORNIA WHO BELIEVE THEY HAVE BEEN HARMED BY EMPLOYER WAGE AND HOUR VIOLATIONS ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C. BY COMPLETING THE FORM ABOVE ON THE RIGHT OR SENDING AN EMAIL TO [email protected] TO REQUEST A FREE, NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
