Legal Brief   FIRM NEWSLETTER
August 2016
Table of Contents
SUFFOLK COUNTY'S 
PREMIER LAW FIRM.
Located in both the heart of Long Island and on the East End, Campolo, Middleton & McCormick, LLP is Suffolk County's premier law firm. Over the past generation, our attorneys have played a central role in the most critical legal issues and transactions affecting Long Island. The firm's commitment to excellence has earned accolades from the business community, including the prestigious HIA-LI Business Achievement Award and LIBN Corporate Citizenship Award, a spot on the U.S. News & World Report list of Best Law Firms, and the coveted title of Best Law Firm on Long Island.
DISCLAIMER:
The information contained in this newsletter is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The firm provides legal advice and other services only to persons or entities with which it has established an attorney-client relationship. No recipients of information from this newsletter, clients or otherwise, should act or refrain from acting on the basis of any information included in this newsletter without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. The content of this newsletter contains general information and may not reflect current legal developments. The firm disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this newsletter.
 
 
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NEGOTIATION
5 Negotiation Habits to Break
Habits are notoriously hard to break.  It's human nature to settle into comfortable patterns of behavior and continue doing things as we've always done them.  Our approach to negotiation, whether in our personal and professional lives, is no different.  The hard bargainers come roaring into every negotiation trying to be bigger and brasher than everyone else, regardless of the issue or the stakes.  The avoiders routinely give away the store in their desire to get in and get out.  Most of us fall somewhere in between, bringing the same phrases, faces, and techniques from one negotiation to the next.
LITIGATION
Goodwill in Partnership Valuations
Should "goodwill" be a component in in determining the value of a partnership?  The Commercial Division in Albany County recently tackled this issue in the case of Romanoff v. Center for Rheumatology, LLP, et al. (J. Platkin).  The Center for Rheumatology is a medical practice founded in the 1980s and plaintiff Norman Romanoff, M.D. is one of the founding partners.  In late 2013, Dr. Romanoff decided he wanted to retire and sought to dissolve the practice and receive payment for his interest in the practice.
INTERNATIONAL REGULATION, ENFORCEMENT & COMPLIANCE
Life Science Companies under Increasing DOJ and SEC Scrutiny 
for Anti-Corruption Enforcement
The pharmaceutical and medical device industry has always been among the most heavily regulated in the United States.  In recent years, however, these companies have become the subject of another regulatory and law enforcement focus: the Foreign Corrupt Practices Act (FCPA).

The FCPA is a federal law that prohibits U.S. persons, companies, and issuers from, among other things, bribing or attempting to bribe foreign officials in order to secure an improper business advantage.
TRUSTS & ESTATES,
TAX & ELDER LAW
Making Gifts in These Financial Times
If a person has the desire to make any gifts, now may be a great time to do so.  There are sometimes financial benefits to making certain gifts.  A tough economy is often the best impetus to make gifts.  It may seem counterintuitive at first-making gifts when the donor has less valuable property-but the conditions are really ripe for the picking.
INTERNATIONAL BUSINESS
Rules Governing Collection of Personally Identifiable Information within the EU Set to Change

Companies that collect personally identifiable information from individuals within the European Union  should be aware of the new General Data Protection Regulations ("GDPR") approved by the European Parliament earlier this year and effective mid-2018.  The GDPR will replace the current Directive 95/46/EC ("Directive").  Although implementation is two years away, compliance with the GDPR is onerous.  Businesses should begin to take steps now so that they are fully compliant by the deadline.  
GREAT REPRESENTATIONS
CMM Closes Two Major 
Long Island M&A Deals

CMM successfully closed two major M&A transactions within the span of a week in August.
 
The firm represented Reilly Windows & Doors of Calverton, a premier producer of high quality windows, doors, screens, shutters, millwork, and cabinetry, in its sale to Pella Corporation, a major designer and manufacturer of made-to-order and custom windows and doors.  The CMM team included Joe Campolo and Vincent CostaLearn more.
 
CMM also represented Long Island's Bissett Nursery Corp. and Bissett Equipment Corp., leaders in the distribution of nursery and landscape supplies as well as equipment sales, rentals, and repairs to landscape professionals, in their acquisition by SiteOne Landscape Supply, LLC, a Georgia-based, publicly traded distributor of wholesale irrigation, landscape lighting, nursery, hardscapes, maintenance products, and supplies.  Christine Malafi led the CMM team, which also included Alan Weinberg, Arthur Yermash, and Vincent Costa.  Ronkonkoma-based Protegrity Advisors served as the exclusive selling agent for Bissett, with a team led by Bruce Newman, Protegrity's president.  Learn more.
 
Since 2010, Campolo, Middleton & McCormick has been involved in M&A transactions valued at more than $2 billion.  The firm has a depth of experience in structuring M&A transactions on both the buy-side and sell-side across a variety of industries, including healthcare, technology, real estate, and retail.  Its M&A client roster includes companies of all sizes, from worldwide conglomerates to closely-held Long Island businesses.
FIRM NEWS & EVENTS
Malafi Named Butterfly Award Winner