News (All) - Page 4 of 157 - Campolo, Middleton & McCormick, LLP

CMM Closes Multifaceted Mergers & Acquisitions Deal for an East End Restaurant

Posted: October 10th, 2023

Every M&A deal presents its own challenges. CMM recently closed a multimillion dollar deal for a popular East End restaurant. The business and real estate upon which the restaurant operates were owned by two different corporations, and CMM restructured the corporations into LLCs, and worked with the shareholders in the transfer of the business and real estate into the new LLCs. This included the liquor license transfer, the assignment of the mortgage, and other business transfers. Thereafter, the Buyer, a private equity firm, purchased a portion of certain membership interests in both LLCs, and our client happily retained an ownership interest in both LLCs, while a retiring member was bought out entirely.

Despite these changes, the restaurant will continue to operate as usual, with our client remaining as a manager and continuing to run the business in the future. CMM will continue to play an active role. Stay tuned!

Christine Malafi and Marc Saracino spearheaded the deal with support from Zachary Mike and Legal Assistant Taylor Lininger. This multifaceted deal highlights CMM’s ability to navigate the most complex mergers and acquisitions.

CMM Represents Pest Management Company in Acquisition of East End Tree Service

Posted: October 4th, 2023

CMM has closed another successful multimillion dollar deal. The buyer is a longtime CMM client. Almost a decade ago, CMM advised the buyer during its acquisition of its pest control business. After years of hard work, our client turned to us to guide business expansion through the acquisition of a company that provides an array of tree care services to Long Island’s East End, which includes trained and certified horticulturists.

Our work to close the transaction included the creation of a new entity, navigating tax and NYS vehicle transfer issues, and sophisticated financing. The deal team included CMM attorneys Vincent Costa, Marc Saracino, and Zachary Mike. This transaction showcased CMM’s depth of knowledge in the M&A buyer-side and landscaping space.

For more information on our mergers and acquisitions services, please contact us.

Download Our Guide: Top 5 NY Labor & Employment Law Takeaways for Companies in 2023

By: Vincent Costa, Esq. email, David Green, Esq. email, Zachary Mike, Esq. email

Tags: labor & employment

In the ever-evolving landscape of labor and employment, staying abreast of the latest legal developments is important for businesses to ensure compliance and foster productive workplace environments. From non-compete agreements to discrimination matters, our informative guide delves into the crucial legal updates that businesses need to navigate.
Download our “Top 5 New York Labor & Employment Laws Takeaways for Companies in 2023” and learn what you need to know in 2023.

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6 CMM Attorneys Recognized as 2023 Super Lawyers^® and 4 Named Rising Stars

Posted: September 26th, 2023

Campolo, Middleton & McCormick, LLP is proud to announce that ten attorneys at the firm, in multiple practice areas, have been named to the 2023 Super Lawyers® list, four of them as a Rising Star. The CMM attorneys recognized this year, in practice areas including Business and Corporate, Personal Injury, Real Estate, Business Litigation, Mergers & Acquisitions, Construction Litigation, Employment Litigation, and Appeals, are:

The rigorous Super Lawyers selection process is based on peer evaluations, independent research, and professional achievement in legal practice. The Rising Stars recognition denotes superior professional achievement by attorneys who have been in practice for under 10 years or are under age 40. No more than 2.5 percent of lawyers in New York State are named to the Rising Stars list.

Learn more about CMM’s outstanding legal professionals here.

Fall Legal Brief: Masquerade Ball, employment law updates and more!

Posted: September 26th, 2023

Amendments to the New York State WARN Act

Posted: September 6th, 2023

By: Vincent Costa, Esq. email

Tags: labor & employment

Amendments to the New York State Adjustment and Retraining Notification Act (“WARN Act”) adopted in June 2023 are now in effect. The amendments expand the scope of the WARN Act.

The WARN Act requires covered businesses to provide 90 days’ notice prior to mass layoffs or closures to all affected employees and employee representatives, as well as to the Commissioner of Labor and Local Workforce Development Boards. The WARN Act currently applies to private businesses with 50 or more full-time employees in New York. Currently, the Act covers:

Closings affecting 25 or more employees,
Mass layoffs involving 25 or more full-time employees, as long as the 25 or more employees make up at least one-third of all employees at the place of employment, and
Mass layoffs involving 250 or more full-time employees.

The amendments expand the WARN Act in large part as follows:

Employers covered include any business that employs 50 or more employees, whether or not they are full-time.
The scope of employees that counts toward the 20-employee threshold for a “mass layoff” is expanded to include remote employees (in comparison to currently only including the employees “at” the site of employment), both part-time and full-time employees, employees who resign in anticipation of a facility closing, and employees placed on furloughs lasting more than three months (currently only applies to furlough that is for more than six months).
New process by which employers seek an exception from the 90-day notice period requirement. The employer must submit certain required documentation demonstrating eligibility for the exception to the Commissioner of Labor, who will then decide whether an exception is warranted.
The “unforeseeable business circumstances” exception to the notice requirement has been amended to include public health emergencies, such as a pandemic “that results in a sudden and unexpected closure” as an additional situation that may excuse full compliance with WARN.
Notices can be provided electronically.

In addition to the governmental entities that already must receive notice, the employer must also notify (1) the chief elected official of the unit of local government, (2) the school district[s] where the site of employment is located, and (3) the locality that provides police, firefighters, and other emergency services where the employment site is located.

Moreover, employers are now required to give notice even when:

The employer’s actions were due to a physical disaster or an act of terrorism,
The employer was actively seeking capital or business at the time notice was required,
The need for notice was not reasonably foreseeable, and
The closure or mass layoff was due to a natural disaster.

In lieu of notice, severance may be paid to employees, subject to a number of conditions:

There must be an employment agreement or a uniformly applied company policy that requires that the employer give the employee a definite period of notice before a layoff or separation.
The employee must be laid off or separated without the required notice.
The employer must pay the employee a sum equal to the employee’s regular wages and the value of the costs of any benefits, or an amount computed in accordance with a formula based on the employee’s past earnings and benefits costs, for the required period of the notice.

Please contact our office with any questions about labor and employment matters.

Long Island Innovation Park at Hauppauge Showcases Hundreds of Business Tenants’ Banners

Posted: September 6th, 2023

The 1,400-acre Long Island Innovation Park at Hauppauge (LI-IPH) – America’s second-largest industrial park – has elevated its brand by installing more than 400 flags bearing its name on light poles throughout the park.

The branding initiative was undertaken by HIA-LI, one of Long Island’s largest business advocacy organizations and steward for the park, formerly known as Hauppauge Industrial Park. The banner program was also supported by the Town of Smithtown, home to the large majority of the business park. Town of Smithtown workers attached the banners to town-owned light poles.

The flags, reading “Welcome to the Long Island Innovation Park at Hauppauge,” are two feet by three feet in size. Customized flags were made available for purchase by individual businesses within the park, which were quickly sold-out.

LI-IPH’s 1,400 businesses employ 55,000 people, accounting for one in 20 jobs on Long Island. The companies’ $13 billion in annual output equals eight percent of Long Island’s gross domestic product. The park is second only in size to Silicon Valley in northern California.

The impetus for the banner campaign arose from a 2019 “Opportunity Analysis” that documented the park’s status as “the center of Long Island’s current and future economy.” The study was prepared by James Lima Planning + Development and funded by the Suffolk County Industrial Development Agency and the Regional Plan Association. Among a spectrum of recommendations, the analysis advised the park to elevate its public profile and draw greater attention to its essential role in the regional economy.

“The Long Island Innovation Park at Hauppauge has no equal when it comes to generating employment and business growth in our region,” said HIA-LI President and CEO Terri Alessi-Miceli. “By reinforcing popular awareness of the park, we help set the stage for new partnerships and new achievements.”

“While the Long Island Innovation Park at Hauppauge already stands as the cornerstone of the regional economy, it also possesses great potential for further growth,” said Carol A. Allen, Chairperson of the HIA-LI board and president and CEO of People’s Alliance Federal Credit Union. “We help engender that new growth when we take steps to strengthen recognition of our identity.”

“By building the park’s brand, we better capitalize on its extraordinary, proven capacity to bring net, new dollars into the region because of the park’s high proportion of tradable businesses,” said Joe Campolo, Managing Partner at Campolo, Middleton & McCormick, LLP in Ronkonkoma and Chair of HIA-LI’s Long Island Economic Development Task Force. “The park’s ratio of revenue-generating, tradable companies is two-and-a-half times that of Long Island as a whole.”

Ms. Alessi-Miceli expressed her gratitude to HIA-LI board member Paule Pachter, CEO of Long Island Cares, Inc./The Harry Chapin Food Bank, for suggesting the flag initiative.

The 1957 Club’s Casino Night

Posted: September 1st, 2023

Event Date: October 12th, 2023

Scott Middleton, CMM Senior Partner and The 1957 Club General Counsel, invites you to join The 1957 Club for a night of cocktails, hors d’oeuvres, live music and casino games on Thursday, October 12, 2023 at Club 57 in Port Jefferson, NY.

The 1957 Club is a third-party non-profit organization that provides name, image, and likeness (NIL) opportunities to Stony Brook University student-athletes while helping promote charitable organizations located within the Stony Brook community.

Click here to learn more.

CMM’s Kathleen DiLieto Highlighted in LIBN Who’s Who 2023: Women in Professional Services

Posted: August 25th, 2023

Kathleen DiLieto, CPA, is controller at the law firm Campolo, Middleton & McCormick, LLP (CMM). DiLieto directs all functions of the accounting department at CMM and has worked to build a strong team and collaborative, productive work environment. Her public and private sector experience enables her to analyze issues from all critical angles and work with firm leadership to effectively plan for the future.

DiLieto is responsible for all accounting matters for the firm, which has offices in Westbury, Ronkonkoma and Riverhead, including financial reporting, budgeting and forecasting, general accounting, cash and treasury management, internal control assessments, accounts receivable and accounts payable.

DiLieto has more than 20 years of accounting experience in both public accounting and private industry. She began her career at a public accounting firm focusing on audits, business consulting and tax preparation services before moving to in-house accounting roles in various industries including healthcare, manufacturing and construction.

Campolo, Middleton & McCormick, LLP is a premier law firm with offices across Long Island. Recently recognized as one of America’s Top Corporate Law Firms by Forbes, CMM is among the firm of choice for clients with respect to their most significant business transactions, challenging legal issues and critical disputes.

View the full Who’s Who book here.