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Shortly before 4:00 p.m. ET on December 27th, FinCEN issued an alert, stating that businesses are not currently required to file a Beneficial Ownership Information (BOI) report.
What Happened:
- As stated in Lipsitz Green Scime Cambria’s earlier alert, on December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit, issued a ruling which reinstated requirements and obligations for business owners under the Corporate Transparency Act (CTA).
- On December 26, 2024, the merits panel of the Fifth Circuit of the U.S. Court of Appeals, issued an order, vacating the Court’s December 23rd decision.
- The U.S. Court of Appeals’ December 26th ruling, reinstates a nationwide preliminary injunction on enforcing the CTA, which was initially issued by a U.S. District Court on December 3rd.
- Due to the December 26th Court ruling, FinCEN has announced that businesses are not currently required to file a BOI report and are not subject to liability if they fail to do so.
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The U.S. Court of Appeals has reinstated the enforcement of the Corporate Transparency Act (CTA).
What Happened:
- As detailed in Lipsitz Green Scime Cambria’s previous alert, on December 3, 2024, a U.S. District Court Judge in Texas, imposed a nationwide preliminary injunction on the enforcement of the CTA.
- The U.S. Department of Justice filed on appeal of the December 3rd decision.
- On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit, issued a ruling, which lifted the preliminary injunction on the enforcement of the CTA.
- FinCEN has announced that due to the various court rulings, the BOI filing deadline that had been set for January 1, 2025, has been extended to January 13, 2025.
$5.4 Million Jury Verdict Awarded in Child Victims Act Case
Numerous media outlets have reported on the $5.4 million jury verdict that attorneys from Lipsitz Green Scime Cambria recently obtained on behalf of their client, who is a victim of childhood sexual assault.
Attorneys Amy C. Keller and Gregory P. Krull represented the victim in this case. ABC News affiliate WHAM 13 spoke with Amy Keller regarding the case. NBC News affiliate WHEC and News Radio WHAM 1180 also reported on the jury verdict.
To maintain his privacy, the victim is identified as “LG 55 Doe” in court filings for this matter. LG 55 Doe is an adult in his 30s, who was sexually assaulted as a child. As a minor, LG 55 Doe attended middle school at Siena Catholic Academy in Brighton, NY, from 2002-2004. While attending Siena Catholic Academy, LG 55 Doe met Joseph A. Grasso, a Catholic Priest who served as Principal of the school. Joseph Grasso used his position as a priest and school Principal of Siena Catholic Academy to pull LG 55 Doe out of his classes and sexually assault him.
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