Category Archives: Press

Stubbs Alderton & Markiles, LLP Continues to Expand First Class Business Litigation Practice Group

Leading Trial Litigator Joshua Stambaugh Joins Firm

Josh StambaughLos Angeles, CA (July 23, 2015) Stubbs Alderton & Markiles, LLP, Southern California’s leading business law firm, has announced that litigator Joshua Stambaugh has joined the firm as a Business Litigation partner in its Sherman Oaks office. The addition of Mr. Stambaugh continues to bolster the growth of the Business Litigation practice, bringing the group to 8 seasoned attorneys.

Joshua has extensive experience assisting businesses of all size, from Fortune 500 companies to internet start-ups, in virtually every area of commercial litigation, including: business litigation; interference claims; breach of contract; antitrust; unfair competition; misappropriation of trade secrets; fraudulent advertising; and class actions brought pursuant to consumer protection statutes. He has been ranked every year since 2009 as a Rising Star by Super Lawyers.

He has a proven track record of aggressively litigating matters of all sizes and finding sensible solutions for companies that are based upon both immediate and long term business needs. Joshua is particularly adept at handling discrete business disputes with the same vigor and efficiency of larger bet-the-company litigations, and within appropriate budgetary confines. He has extensive trial experience, and is able to handle commercial litigation matters at every stage of litigation, from pleading motions through oral argument on appeal.

Michael A. Sherman, the chair of the Firm’s Business Litigation group said: “Joshua is a first chair trial lawyer with proven courtroom capabilities.  We are delighted to have been able to attract such a star to our team, further demonstrating the Firm’s commitment to growing our litigation practice.”

Please visit www.stubbsalderton.com for complete attorney bios.

About the Stubbs Alderton & Markiles Business Litigation Practice

The Firm’s litigators have significant depth and breadth of resources and a detailed knowledge of clients’ industries and business concerns.  In providing the best possible representation, our litigators appreciate that on occasion disputes may need to be tried to a judge, jury or arbitrator, and that in other instances the client is best served with an early resolution that is designed to preserve business relationships and minimize expense and litigation distraction.

Our litigators have a proven track record for analyzing complex legal and business challenges.  Our attorneys are experienced, innovative and aggressive in their pursuit of strategic outcomes.

We deliver efficiency and value to every client we serve through a well-defined budget and clear communication about their case.

To view the press release on PRWeb, click here.

About Stubbs Alderton & Markiles, LLP

Stubbs Alderton & Markiles, LLP is a business law firm with robust corporate, public securities, mergers and acquisitions, intellectual property and business litigation practice groups focusing on the representation of venture backed emerging growth companies, middle market public companies, large technology and Internet companies, entertainment, video games and digital media companies, investors, venture capital funds, investment bankers and underwriters. The firm’s clients represent the full spectrum of Southern California business with a concentration in the technology, entertainment, video games, apparel, consumer electronics and medical device sectors. The firm’s mission is to provide technically excellent legal services in a consistent, highly-responsive and service-oriented manner with an entrepreneurial and practical business perspective. These principles are the hallmarks of the firm.  For more information, please visit www.stubbsalderton.com

 

Contact:

Heidi Hubbeling
Stubbs Alderton & Markiles, LLP
(310) 746-9803
hhubbeling@stubbsalderton.com

SAM Managing Partner Scott Alderton Honored with Heart Centered Tech Award

 

Scott_Alderton_cropStubbs Alderton & Markiles’ Managing Partner Scott Alderton was presented with the Heart Centered Tech LA Award at the Annual LA Venture Association (LAVA) Meeting on Thursday, July 15th. The award was handed off to Scott from Rich Abronson, last month’s HCTLA Award recipient.  SAM’s involvement in the LA Tech community led by Scott, along with his personal efforts to foster the growth of Silicon Beach and dedication to startups was the basis for this award recognition.

#HCTLA started as a way to acknowledge standout individuals who take part in using technology to help make this world a better place. Award recipients have healed hearts, built communities and contributed through technology. After 30 days, the recipients choose who the next HCT award winners should be, making this the first peer-to-peer awards ceremony of it kind that was appropriately launched in the #LATech #SiliconBeach community.

For more information on the award process, visit www.heartcenteredtech.com 

SAM Wire – July 2015

July 13th, 2015
SAM Wire
Business Law Breakdown – Amendments to the Delaware General Corporation Law Prohibit Fee-Shifting and Endorse Forum Selection Clauses

On June 24, 2015, Delaware Governor Jack Markell signed several important amendments to the General Corporation Law of the State of Delaware (the “DGCL”) into law. The amendments, which will become effective on August 1, 2015, prohibit “fee-shifting” provisions and endorse forum selection provisions, among other changes.

 

To view the full article, click  here. 

 SAM Preccelerator Program Spotlight

 

Simplifeye enables doctors to see more patients, in less time. Patients will appreciate the increased attention from their doctor.

 

Office Productivity

Simplifeye puts office efficiency first with built in tools like office triaging and live patient flow views.

 

Quick Medical History View

Doctors are able to view the important parts of the medical history just by asking Simplifeye.

 

Cross-Platform Compatible
Simplifeye integrates with existing electronic health records so they no longer invade the patient doctor relationship and creates a standardized interface across multiple platforms. 

Apple Watch

Integration with the Apple Watch allows Simplifeye to be a completely hands free solution allowing doctors to make cross-contamination, when handling records, a thought of the past.

 

Previously featured in the LA Business Journal for their cutting-edge technology. To view the article click here. To view their full website and to learn more, visit www.simplifeye.co 

As the Internet Corporation for Assigned Names and Numbers (ICANN) has released new generic top-level domains (gTLDS), clients concerned about protecting their trademarks and famous names need to review their positions with respect to “defensive” domain name registrations.


To read the full article, click here.

SAM Client Iris.tv Raises $5.3 Million to Deliver Video Recommendations

SAM client Iris.tv has raised $5.3 million in Series A funding for technology that makes personalized video recommendations to viewers who watch short clips online.  The startup’s customers are lifestyle, entertainment, sports and news organizations that own and publish a lot of short videos online, and who want to drive audiences to watch more videos through their own apps or websites rather than on YouTube or Facebook. 

 
To read the full article, click here.
SAM Preccelerator Program Companies Showcase at TechDay LA 2015

Several Preccelerator Program companies showcased their businesses at the first annual LA TechDay LA at the California Market Center on Thursday, June 18th.  Companies included RallyVerde CircleTeam(You), and SAM joint ventureFlashFunders.

 

To read the full article, click here

Alex Lidow, CEO of SAM Client Efficient Power Conversion (EPC) has been featured in articles published in the Wall Street Journal (6/22/2015) and Los Angeles Business Journal (6/21/2015) The LABJ articles outlines their release of a more efficient product that could upend the $30 billion power conversion market dominated by International Rectifier, his former company.

 

To read the full article, click here.
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Business Law Breakdown – Amendments to the Delaware General Corporation Law Prohibit Fee-Shifting and Endorse Forum Selection Clauses

Nick-Feldman-smNick Feldman’s practice focuses on corporate transactions, including mergers and acquisitions, dispositions, private equity transactions and general corporate matters for both public and private clients, focusing on middle-market and emerging growth companies. In addition, Nick counsels companies in connection with entity formation, corporate governance, federal and state securities laws and compliance, joint ventures, employee incentive plans, executive employment agreements and other executive compensation matters.  Nick also serves as an Adjunct Professor at Loyola Marymount University, where he lectures on media law topics.

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DelawareOn June 24, 2015, Delaware Governor Jack Markell signed several important amendments to the General Corporation Law of the State of Delaware (the “DGCL”) into law. The amendments, which will become effective on August 1, 2015, prohibit “fee-shifting” provisions and endorse forum selection provisions, among other changes.

Prohibition on Fee-Shifting

In response to the Delaware Supreme Court’s decision in ATP Tour, Inc. v. Deutscher Tennis Bund, 91 A.3d 554 (Del. 2014), the DGCL amendments invalidate “fee-shifting” provisions in certificates of incorporation or bylaws of stock corporations. In ATP, the Court upheld a bylaw imposing liability for legal fees of a nonstock corporation on certain members of the corporation participating in the litigation.

The new legislation narrows the ruling in ATP by way of new DGCL Section 102(f). That statute provides that a certificate of incorporation may not impose liability on a stockholder for the attorneys’ fees or expenses of the corporation in connection with an “internal corporate claim” as defined in new Section 115 (discussed below). The legislation also adds a similar restriction on fee-shifting provisions in corporate bylaws to Section 109(b). An amendment to Section 114 provides that the restrictions on fee-shifting provisions do not apply to nonstock corporations.

While the legislation invalidates fee-shifting provisions in certificates of incorporation and bylaws of stock corporations, it does not bar such provisions in stock purchase agreements or stockholders’ agreements.

Authorization of Delaware Forum Selection Clauses

The 2015 legislation confirms the holding of Boilermakers Local 154 Retirement Fund v. Chevron Corporation, 73 A.3d 934 (Del. Ch. 2013), adding a new Section 115 to the DGCL which confirms that a corporation’s certificate of incorporation or bylaws may require internal corporate claims to be brought exclusively in the courts of the State of Delaware. “Internal corporate claims” are defined to include claims of breach of fiduciary duty by current or former directors, officers, or controlling stockholders, or persons who aid and abet such a breach.

 Section 115 does not expressly authorize or prohibit provisions that select a forum other than Delaware courts as an additional, non-exclusive forum for internal corporate claims. However, it does invalidate any provision selecting courts outside of Delaware, or any arbitral forum, to the extent such a provision attempts to prohibit litigation of internal corporate claims in the Delaware courts. And, as with the fee-shifting amendments, it does not invalidate non-Delaware forum selection provisions in a stockholders’ agreement or other separate written agreements with stockholders.

Stock and Option Issuances

With respect to stock issuances, the new legislation amends Section 152 of the DGCL to clarify that the board of directors may authorize stock to be issued by the determination of a person or body other than the board, in one or more transactions and in such amounts and at such times as determined by the authorized party. In order to do so, the board must set certain parameters at the time it authorizes the issuance(s), including fixing the maximum number of shares that may be issued, the time frame during which such shares may be issued, and a minimum amount of consideration for which they may be issued.

Additionally, the legislation permits the board to delegate the ability to issue restricted stock to officers of the corporation on the same basis that the board may delegate the ability to issue options under Section 157 of the DGCL. Both Sections 152 and 157 are further amended to clarify that the board may determine the minimum consideration for such stock or options by way of a formula which references or is dependent upon extrinsic facts, including market prices.

Ratification of Defective Corporate Acts

The 2015 legislation makes several amendments to Section 204 of the DGCL, which sets forth the procedures for ratifying stock or corporate acts that would be void or voidable due to a “failure of authorization.” The amendments clarify and confirm certain provisions of the ratification process and provide additional guidance as to the specific requirements for the filing of certificates of validation, including: (1) confirming the requirements for a board of directors and stockholders to adopt and ratify one or more defective acts; (2) providing for ratification of the initial board of directors where it was not named in the original certificate of incorporation nor elected by the incorporator; (3) addressing the voting standards applicable to the ratification of the election of a director where the original vote obtained was defective; (4) clarifying the requirements for certificates of validation; (5) confirming the scope of acts by the board of directors or officers that may constitute a defective corporate act susceptible to cure by ratification; and (6) confirming that certain “voidable” acts may be cured by ratification under common law.

Implications: Action Items for Delaware Corporations

A Delaware stock corporation that has adopted a fee-shifting provision should consider amending its charter and/or bylaws, as applicable, to remove the provision because it will no longer be enforceable once the new legislation takes effect.

Further, Delaware corporations that have not previously adopted a Delaware forum selection clause should consider adopting one. And, as with fee-shifting provisions, a Delaware corporation that has adopted a forum selection clause prohibiting litigation of internal corporate claims in the Delaware courts should amend the clause to make clear that such claims may be brought in Delaware in addition to, or instead of, the forum currently specified.

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For more information about services for your legal needs, contact Nick Feldman at nfeldman@stubbsalderton.com or (818) 444-4541.

SAM Client Efficient Power Conversion’s CEO Alex Lidow Featured in LABJ and WSJ Articles

Alex LidowAlex Lidow, CEO of SAM Client Efficient Power Conversion (EPC) has been featured in articles published in the Wall Street Journal (6/22/2015) and Los Angeles Business Journal (6/21/2015) The LABJ articles outlines their release of a more efficient product that could upend the $30 billion power conversion market dominated by International Rectifier, his former company.

To read the full story, click here

The Wall Street Journal story discusses the use of gallium-nitride instead of silicon in circuits and transistors.  EPC uses gallium-nitride transistors for devices such as audio amplifiers, wireless charging devices, cellular base stations and a prototype pill-style device that can X-ray people’s colons as a substitute for colonoscopies.

To read the full article, click here.

SAM Preccelerator Program Companies Showcase at TechDay LA 2015

Several Preccelerator Program companies showcased their businesses at the first annual LA TechDay LA at the California Market Center on Thursday, June 18th.  Companies included Rally, Verde Circle, Team(You), and SAM joint venture FlashFunders.

IMAG0124_1 IMAG0126_1 IMAG0134_1

IMAG0122_1

TechDay is a massive science fair for startups. Startups have the opportunity to show off their products to thousands of consumers, the highest caliber investors, hordes of press, the most sought after talent, and the greatest pool of tech enthusiasts looking to celebrate emerging venture.

For more information about the Preccelerator Program, contact Heidi Hubbeling at hhubbeling@stubbsalderton.com or (310) 746-9803.

SAM Client Iris.tv Raises $5.3 Million to Deliver Video Recommendations

Iris.tvSAM client Iris.tv has raised $5.3 million in Series A funding for technology that makes personalized video recommendations to viewers who watch short clips online.  The startup’s customers are lifestyle, entertainment, sports and news organizations that own and publish a lot of short videos online, and who want to drive audiences to watch more videos through their own apps or websites rather than on YouTube or Facebook.

Publishers or networks can generate more revenue from videos viewed through their own apps, potentially, said Iris.tv CEO Field Garthwaite, in part because there are fewer distractions there than on social media platforms.

If users do fast-forward past one clip to see another using Iris.tv, the next recommended clip will be a video from the same content company that is tailored around their interests.

Investors in Iris.tv’s funding round included Sierra Wasatch, BDMI, Progress Ventures and individual backers including Machinima founder Allen DeBevoise, Lions Gate CFO James Barge as well as executives from Nielsen and AEG.

SAM Partner Louis Wharton represented Iris.tv in this transaction.

To view the full press release in the Wall Street Journal, click here.

For more information on our Venture Capital & Emerging Growth practice, contact Louis at (818) 444-4509 or lwharton@stubbsalderton.com.

SAM Alert – “.sucks” gTLD – End of Sunrise Period Quickly Approaching

.sucksAs the Internet Corporation for Assigned Names and Numbers (ICANN) has released new generic top-level domains (gTLDS), clients concerned about protecting their trademarks and famous names need to review their positions with respect to “defensive” domain name registrations.  The new gTLD receiving a surprising amount of attention is “.sucks”. Owners of registered trademarks who register prior to June 19, 2015 ( end of ‘Sunrise Period) with the Trademark Clearing House of ICANN will have the first opportunity to purchase the “.sucks” gTLD domain names. Those trademark owners who do not register or are not registered may still have an opportunity to acquire this gTLD . Unfortunately they may also face having to buy the “.sucks” gTLD from cybersquatters or those who seek to criticize the business or activities of the trademark owner.

The Trademark Clearing House fee to acquire the “.sucks” domain name during the Sunrise Period is higher than after the window closes as no priority is guaranteed. So the rights holder must consider how far it needs to go in defensively protecting its reputation or famous marks. Is it important to stop all gTLD’s using your trademark or name? Do you want to have to manage a portfolio of non-productive domain names? While critics of a company or individual might use the new “.sucks” gTLD to launch a website that contains criticism, how much of a difference would such a website make to the business or career of the target?  Couldn’t the same critics more easily use social media such as TWITTER or FACEBOOK to communicate the same criticism and possibly with greater impact and less effort?  A rights holder must also consider how difficult it will be under the current law to be able to stop such websites based on trademark infringement as such websites have been found not to violate owners’ trademark rights. Although the content of the site may be the basis for other legal claims.

Nevertheless, there are certain businesses and personalities for whom the existence of a critical or seemingly defamatory web presence cannot be tolerated. In such instances, obtaining the “.sucks” gTLD as well as “.XXX, .porn, and .adult” gTLD’s makes sense and provides a comfort level knowing that someone cannot post on these websites or hold up the rightful name owner for large sums of  money to acquire these gTLD’s.

Please contact your principal attorney at SAM or SAM’s Intellectual Property Group to assist you in obtaining any of the new gTLD’s during the sunrise period or thereafter.

 

Please contact:

Tony Keats-akeats@stubbsalderton.com or (310) 746-9802

Konrad Gatien-kgatien@stubbsalderton.com or (310) 746-9810

Kevin DeBre-Kdebre@stubbsalderton.com or (818) -444-4521

SAM Joint Venture FlashFunders Makes Entrepreneur’s Brilliant 100 Companies to Watch List!

FlashFunders logoCongratulations to SAM Joint Venture FlashFunders for their being listed in Entrepreneur’s Brilliant 100 Companies to Watch list!

Flashfunders is a no-fee equity investment platform that streamlines the fundraising process by offering entrepreneurs SEC-compliant documents and FDIC-insured escrow accounts, saving them thousands in legal fees.

To view the full article on Entrepreneur.com, click here.

 

SAM Client The Mighty Announces Closing of Their Seed Financing

The Mighty PicSAM Client, The Mighty, a content site based in Los Angeles designed for “a community of people who are thrown a curveball” has announced its $2.5 million seed round led by Upfront Ventures.

SAM Partner, Ryan Azlein represented The Mighty in this transaction.

To read the full press about the funding and the inspiring story behind TheMighty, click here.