DELAWARE COURT HOLDS MINORITY STOCKHOLDERS CAN SUE DIRECTLY WHEN A COMPANY’S CONTROLLER USES CONTROL AGAINST MINORITY TO EXTRACT SPECIAL BENEFIT IN A STOCK TRANSFER

Posted on by Federica Romanelli
On June 25, 2018, the Delaware Court of Chancery denied a motion to dismiss, finding that when a controller uses his control to extract a special benefit in a stock sale, at the expense of the company’s minority stockholders, the latter may sue directly. In addition, the transfer of corporate assets for “a manifestly unfair price” is sufficient to state a claim for breach of fiduciary duties. Generally, “When the controller of a company improperly uses his control to enter a transaction Read more [...]

Requirements for an L-1A Intracompany Transferee Executive or Manager

Posted on by Federica Romanelli
L-1A is used for intracompany transferees and allows the temporary transfer of employees (executives or managers) who continue employment with the same employer or a company of the group. “The L-1A nonimmigrant classification enables a U.S. employer to transfer an executive or manager from one of its affiliated foreign offices to one of its offices in the United States.  This classification also enables a foreign company which does not yet have an affiliated U.S. office to send an executive Read more [...]

H-1B SPECIALTY OCCUPATION

Posted on by Federica Romanelli
There are many complex nuances to the H-1B, but the basics are as follows.  The H-1B is for those working in a “specialty occupation” for a U.S. company.  Generally, the position must require a bachelor’s degree or the equivalent, and the foreign national must possess a related bachelor’s degree or equivalent.  If you do not have a U.S. bachelor’s degree, consult with a lawyer to determine whether you have the equivalent under H-1B standards through either work experience, education, Read more [...]

Federal Court vacates DHS’s “Delay Rule” on immigration parole status for certain entrepreneurs

Posted on by Federica Romanelli
On December 1, 2017, a D.C. District Court vacated the Department of Homeland Security’s (DHS) decision to delay the implementation of an Obama-era immigration rule, the International Entrepreneur Rule (IER), 82 Fed. Reg. 5,238 (Jan. 17, 2017). In order to increase and enhance entrepreneurship, innovation, and job creation in the United States, the IER would have allowed certain foreign entrepreneurs to obtain immigration “parole” — that is, to temporarily enter the United States despite Read more [...]

Requirements for an E-2 Investor Visa

Posted on by Federica Romanelli
Below you may find a list of the requirements for an E-2 Investor Visa. For a list of E-2 treaty countries, click here. If a principal investor, you must be coming to the United States to “develop and direct” the business, e.g., owning at least 50% of the investment. Employees who work in certain key supervisory capacities or who possess essential skills might also be hired by a qualifying organization.  Ordinary skilled and unskilled workers do not qualify.  In order to hire employees Read more [...]