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Pivot Points - Fall 2015


Fall 2015

 

Welcome to Pivot Points – the quarterly newsletter for the legal community from CohnReznick’s restructuring, litigation, and transactional services (RLTS) team. Whether a company is healthy and growing, or in a distressed situation, it is often at a “pivot point” in its life cycle. Pivot Points begins the conversation. The RLTS team shares insights gained through supporting thriving businesses as they take advantage of developing opportunities and mitigate risk, as well as our experience with fraud investigations and distressed situations. We’ll also provide you with tips and information on topics ranging from eDiscovery and white collar crime to helping businesses find efficiencies and protect reputations. We look forward to continuing the conversation.

Prescription for Protecting the Top Line at Healthcare Facilities
Patricia Hennelly

The Journal of Corporate Renewal invited CohnReznick to share its experience in optimizing the revenue cycle for healthcare facilities. In the article, “Holistic Approach Is Prescription for Optimizing Facility’s Revenue Cycle,” CohnReznick noted that facilities with the best-performing revenue cycles generally exhibit a common set of best practices.

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Foreign Corrupt Practices Act: A Self-Assessment
William Monks

In the previous issue of Pivot Points, we focused on the fact that that the Securities and Exchange Commission and the Department of Justice are widening the prosecutorial net for the Foreign Corrupt Practices Act. Small and medium-sized companies that once considered themselves “under the radar” are now the subject of increased scrutiny. Read our FCPA Middle Market Alert. What is the risk for your company? Do any of the common red flags apply? CohnReznick created a concise self-assessment to give you an initial look at your company’s risk.

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Digital Forensic Considerations: Don't Touch That!
Scott E. Johnson

Well-meaning employees wishing to copy a file or take a quick look on a computer containing evidence to support a client’s case often inadvertently weaken the client’s case. Scott Johnson discusses the importance of doing nothing, and leaving it to the professionals when it comes to computer forensics.

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Recent Engagement: CohnReznick Drives Financial Analysis to Provide and Preserve Restitution in Labor Trafficking Case

In a recent article posted on its website, the Southern Poverty Law Center recognized CohnReznick for its pro bono work on behalf of exploited guest workers from India.

Background
The Southern Poverty Law Center partnered with top law firms in a dozen lawsuits brought on behalf of the workers. With the promise of good jobs, green cards, and permanent residency, welders, pipefitters and other skilled workers paid nonrefundable $10,000 to$20,000 recruitment fees and came to the U.S. from India to work for Signal International.  Once here, they were denied promised green cards and permanent residency, and charged over $1,000 a month to live in substandard housing.  

After being ordered to pay a $14 million award in the first lawsuit, Signal intimated it was considering filing for bankruptcy.  Additional law firms with restructuring experience agreed to work on a pro bono basis on the remaining 11 lawsuits.
 
Our Role
CohnReznick served as the financial advisors in the lawsuit, providing an independent assessment of the value of Signal’s assets and its financial health.  As stated in the article, “Cliff Zucker and Kevin DeLuise of CohnReznick, working on a pro bono basis, drove the financial analysis that helped the attorneys push towards a settlement.”
 
A Commitment to Serving Our Communities
Pro bono work at CohnReznick is a natural extension of the firm’s mission statement which includes a pledge of support to our communities.  The firm encourages and supports the personal involvement of partners and employees in countless charitable endeavors.  As a firm, CohnReznick has raised millions of dollars through CohnReznick CARES and the CohnReznick Foundation to support organizations working with children at risk, veterans, and others in need.
 
 

This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

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