Christie’s in New York is offering two pieces of art from the private collection of Vinalhaven artist Robert Indiana in a controversial sale to help pay the mounting legal bills of the late artist’s estate and make critical repairs before winter to his deteriorating island home, the once-grand Star of Hope. Maine Preservation listed the Star of Hope as one of Maine’s most endangered historical places two weeks ago. DO NOT ARCHIVE!! Can only be used in connection with preview or review of relevant sale. One-off usage only. (Credit to Christie's Images LTD. 2018) Ellsworth Kelly (1923-2015) Orange Blue signed with artist's initials, inscribed, dedicated and dated 'EK 1957 FOR ROBERT AN ORANGE PEEL FROM PIER 7' (on the reverse) oil on canvas 16 x 12 in. Painted in 1957. Estimate: USD $900,000 - $1,200,000 Post-War and Contemporary Art Morning Session, New York, November 16, 2018. (Credit to Christie's Images LTD. 2018) ABOVE: Ed Ruscha's "Ruby," oil on canvas, … [Read more...] about Paintings owned by Robert Indiana go to auction in New York
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Judge Hearing New York AG’s Lawsuit Against ExxonMobil Agrees to Divest From Energy Co.
The judge set to hear New York Attorney General Barbara Underwood’s lawsuit against Exxon Mobil Corp. has agreed to divest from his current stock in the gas and oil company and decline any restitution that may come from the case for investors. Manhattan Supreme Court Justice Barry Ostrager of the Commercial Division said in court on Wednesday that he would sell his shares in the company—which amount to somewhere between $100,000 and $250,000 in one fund, and an unknown amount in a retirement account. Underwood’s office had asked Ostrager, after filing their suit against Exxon last month, to recuse himself from the case because of his stock in the company. A spokeswoman for Underwood said his decision to divest addressed their concerns. “Our office raised specific concerns regarding the court’s ownership of a significant quantity of Exxon stock, which were addressed by Justice Ostrager’s decision to sell the shares and renounce his portion of any … [Read more...] about Judge Hearing New York AG’s Lawsuit Against ExxonMobil Agrees to Divest From Energy Co.
New York Tenants-Rights Group Lifts Profile but Has Little Success in Lawsuits
1 Comments By Josh Barbanel Aug. 2, 2018 7:00 a.m. ET Over two years, the Housing Rights Initiative swept in on behalf of New York City’s tenants and organized more than 45 lawsuits challenging what it often calls unbridled fraud by predatory landlords. So far, it hasn’t had much success in the courts. The small nonprofit, with only three employees, organizes groups of rent-regulated tenants and links them with lawyers who typically file class-action lawsuits in exchange for a share of the proceeds if they win. The approach has garnered sympathetic headlines like “Lawsuit Alleges Firm Overcharged Rent-Stabilized Tenants,” accompanied by portraits of somber-looking tenants and their families. The Housing Rights Initiative has also brought three cases, including two class-action suits against buildings in the portfolio of Kushner Cos., a business owned by the family of Jared Kushner, President Trump’s son-in-law and adviser. Kushner Cos. has … [Read more...] about New York Tenants-Rights Group Lifts Profile but Has Little Success in Lawsuits
Leading Attorney Marcia Wagner’s Testimony Cited by Court as Crucial in Dismissal of ERISA Case Against New York University
BOSTON, Aug. 01, 2018 (GLOBE NEWSWIRE) -- On July 31, 2018, the U.S. District Court for the Southern District of New York dismissed the class-action case against New York University (Sacerdote, et. al. v. New York University) for breach of its fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in administering its retirement plan on behalf of its employees. Nationally-recognized ERISA attorney, Marcia S. Wagner, principal of The Wagner Law Group, served as an expert witness for the defense in this seminal case. In its decision, the Court cited Ms. Wagner’s expert testimony as particularlarly swaying: /EIN News/ -- “Defendant retained [Marcia] Wagner to provide expert testimony regarding NYU’s processes relating to recordkeeping fees[…] The Court found her experience with 403(b) plans impressive and her testimony consistent, reasonable, logical and ultimately, highly credible.” Ms. Wagner is … [Read more...] about Leading Attorney Marcia Wagner’s Testimony Cited by Court as Crucial in Dismissal of ERISA Case Against New York University
Republic First Bancorp, Inc. Reports Second Quarter Financial Results; Announces New York City Expansion Plan
PHILADELPHIA, July 26, 2018 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ:FRBK), the holding company for Republic Bank, today announced its financial results for the period ended June 30, 2018. Q2 Highlights Total deposits increased by $402 million, or 23%, to $2.1 billion as of June 30, 2018 compared to $1.7 billion as of June 30, 2017. New stores opened since the beginning of the “Power of Red is Back” expansion campaign are currently growing deposits at an average rate of $29 million per year, while the average deposit growth for all stores over the last twelve months was approximately $18 million per store. Total loans grew $251 million, or 24%, to $1.3 billion as of June 30, 2018 compared to $1.1 billion at June 30, 2017. Income before tax increased by 41% to $2.9 million for the three months ended June 30, 2018 compared to $2.1 million for the three months ended June 30, 2017. “The Power of Red is Back” expansion … [Read more...] about Republic First Bancorp, Inc. Reports Second Quarter Financial Results; Announces New York City Expansion Plan