Class Actions Filed Against German Car Manufacturers Over Emissions
Decision Shows Frailty of Oral Agreements A recent per curiam decision by the Court of Appeals of Wisconsin (District Four) shows that commercial enterprises should, wherever possible, avoid oral agreements with individuals since, among other things, oral testimony as to the creation of the agreement can barred if the opposing party dies while the case…
WI Law Requires Disclosures “Defects” for Residential Real Estate Sale
Since 1992, Wisconsin law [Wis. Stat. Chapter 709] has generally required residential property owners to disclose “defects” in the property prior to any transfer or sale. The disclosure is made in the form of a written report supplied to the prospective buyer within 10 days of the buyer’s acceptance of the sales contract. While the…
The High Cost of Roofing Defects
While a strong, stable foundation is crucial to the integrity of any building, the roofing system is also of paramount importance. With significant increases seen during the past few years in Wisconsin construction prices, some roofing contractors have been tempted to cut a few corners. The results can be costly for owners and lessees. Defects…
Negligent Misrepresentation by a CPA
It goes without saying that, when a business operation hires a CPA to provide professional services, the accountant owes a duty of care to the client and can be held liable to the client if the services are negligently rendered. But does the CPA owe a duty of care to others who are not the…
“As-Is” Real Estate Sale May Not Protect Misrepresentation Claim
Deceptive Sales Practices Wisconsin’s primary misrepresentation statute, Wis. Stat. § 100.18(1) prohibits companies and individuals from making misrepresentations in the sale of homes, products, and services. To recover under the statute, a person or firm must generally show three things: That the company or individual made a misrepresentation to the public with the intent of…
Class Actions Filed Against Prominent German Car Manufacturers Over Emissions
Class Action Against Volkswagen On February 22, 2016, a proposed class action lawsuit was filed in a California federal district court against Volkswagen AG (“VW”), alleging, among other things, that VW improperly modified or compromised its American diesel vehicles in order to pass government emissions tests. According to one report filed by the Wall Street…
Why Shareholder Buyout Agreements Are Essential
Like so many marriages, many Wisconsin corporations are often formed in haste by idealistic optimists. They proceed with the corporate charter, the corporate bylaws, the initial election of corporate officers, the securing of appropriate facilities, and the like. What could ever go wrong? The answer, of course, is “Plenty.” One of the founding members of…
How to Protect Your Interests against Hostile Takeovers
Due to the hard work of corporate management and solid effort by employees, a publicly held company sometimes creates a level of inherent value that is not yet reflected in the price of the company’s shares on the open market. In such situations, the company can become the target of outsiders who seek to gain…
7 Tips for Improving the Effectiveness of Your Annual Shareholder Meeting
Corporate officers and directors sometimes view the annual shareholder meeting as the bane of their existence. Indeed, because so many annual meetings are so poorly planned, they can be costly not only in terms of the resources expended, but in the amount of productive time lost. It, of course, need not be that way. With…