Companies seek liability protection for top execs
A growing number of companies in Indiana and elsewhere are hoping to offer new legal protection for top executives following a 2022 change in Delaware’s corporation law.
Susan Orr, Indianapolis Business Journal
Articles
Old National places CFO on leave following criminal charges
Evansville-based Old National Bank disclosed Monday that it has placed its chief financial officer, Brendon Falconer, on leave. Falconer was charged last week with two counts of felony child molestation.
Former Indianapolis-area insurance broker agrees to guilty plea in $4M Ponzi case
Former insurance broker Brian Simms of Lebanon, who was accused of misappropriating nearly $4 million in client funds in a “Ponzi-like” scheme, has agreed to plead guilty to one count of wire fraud.
Cummins faces shareholder and customer lawsuits after $2B settlement
Cummins Inc. is facing multiple lawsuits from shareholders and Dodge Ram truck owners after the company agreed to pay $2 billion late last year to settle allegations that it unlawfully altered hundreds of thousands of pickup truck engines.
Experts say 2023’s sluggish venture activity could last well into 2024
A combination of higher interest rates, the ongoing tech industry downturn and general market uncertainty put a damper on venture investment activity last year, both in Indiana and nationwide—and observers say they don’t expect the situation to improve much this year.
Cease-and-desist order issued against Carmel financial firm, CEO
The Indiana Secretary of State’s office has issued a cease-and-desist order against Carmel-based retirement planning firm ReJoyce Financial LLC and its CEO Alexander Joyce, alleging that Joyce used nearly $2.6 million in client funds for his personal gain.
Judge orders asset freeze for shopping-center owner accused in SEC fraud case
A federal judge has issued a temporary restraining order and asset freeze against Arizona-based real estate company ArciTerra Cos. LLC and its founder, Indiana native Jonathan Moynahan Larmore, who are facing federal fraud allegations.
Cummins agrees to pay nearly $1.7B to settle federal Clean Air Act investigation
Cummins Inc. will pay $1.675 billion to settle allegations that the engine-maker violated the Clean Air Act, the company announced Friday.
Purdue wins $32.5M in patent-infringement lawsuit
A Texas jury this week awarded Purdue University $32.5 million in damages in its patent infringement lawsuit against an international microelectronics company.
Former Indy-area financial planner to plead guilty in $4.7M fraud case
A former financial planner at Carmel-based Valeo Financial Advisors has agreed to plead guilty to two criminal charges related to the misappropriation of $4.69 million in client funds.
Deadline looms on estate-tax option
A December 2025 deadline might seem far away — but for those who qualify for the estate-tax provision of the Tax Cuts and Jobs Act, now’s the time to decide whether and how to reduce the size of their estates.
Investors say they are owed money from life settlements
The Indiana Secretary of State’s Securities Division is investigating multiple complaints it has received against Roger Dobrovodsky and/or his business entities.
Former Celadon execs to pay $50K to settle accounting fraud case
Former Celadon Group Inc. executives Eric Meek and Bobby Peavler have each agreed to pay a $50,000 civil penalty to settle accounting fraud complaints filed against them by the Securities and Exchange Commission more than three years ago.
Stifel sues rival financial firm over mass exodus from Indianapolis office
St. Louis-based Stifel, Nicolaus & Co. Inc is suing a newly formed Indianapolis firm, Sapient Capital LLC, following what Stifel describes as Sapient’s “orchestrated raid” of Stifel’s 96th Street office.
Republic Airways takes legal action against former flight students
Against the backdrop of a red-hot job market, Indianapolis-based Republic Airways Inc. and its flight school have taken legal action against a dozen former students who the airline says failed to honor their commitment to fly for Republic after graduation.
‘Veritable menu of options’: IU McKinney student’s report attracts housing advocates’ attention
Most school projects are produced for an audience of one: the professor who assigned the work. But Jacob Purcell, a 2L at Indiana University Robert H. McKinney School of Law, has just published a rental housing report that’s intended for a much wider audience.
Kokomo convenience store seeking judicial review after USDA imposes suspension from SNAP payments
A Kokomo convenience store owner is asking for judicial review of a U.S. Department of Agriculture decision to temporarily prohibit the store from accepting Supplemental Nutrition Assistance Program payments from customers.
Franciscan Health prevails in challenge to summary judgment after patient files improperly accessed
The Court of Appeals of Indiana has affirmed a Marion Superior Court’s decision to grant summary judgment to Franciscan Health – Indianapolis in a dispute involving the plaintiffs’ medical records.
Center of it all: For many Indy law firms, downtown is still where it’s at
Whether they are downsizing their office in the post-pandemic era, holding steady or even expanding their space, downtown law firms say they have good reasons for wanting to remain in the heart of the city.
Evicted tenant wins reversal for due process violation
A Housing Authority of South Bend tenant was deprived of her right to due process when she was not allowed to present her pro se defense during her eviction hearing, the Court of Appeals of Indiana has ruled.