ONGC share price: Buy Oil And Natural Gas Corporation, target price Rs 163: HDFC Securities

HDFC Securities bought a call option on Oil And Natural Gas Corporation with a target price of Rs 163. The current market price of Oil And Natural Gas Corporation Ltd. is Rs 137.95 The period given by the analyst is six months when Oil And Natural Gas Corporation Ltd. the price can achieve the defined target.

Oil And Natural Gas Corporation Ltd., incorporated in 1993, is a large cap company (with a market capitalization of Rs 173,419.15 Crore) operating in the oil and gas industry.

The key product / revenue segments of Oil And Natural Gas Corporation Ltd. include crude oil, natural gas, naphtha, ethane, propane, C2 / C3 (ethane / propane), butane, HSD, subsidies, premium kerosene oil, electricity, LSHS , other Revenue, Aviation Turbine Fuel (ATF), Mineral Turpentine (MTO), Processing Fee, Other for the year ending March 31, 2021.



Finance
For the quarter ended 30-06-2021, the company reported total consolidated income of Rs 109,301.82 crore, down -7.53% from last quarter total income of Rs 118,206.16 crore and in 71.92% increase over last year in the same quarter. Total income of Rs 63,575.47 crore. The company reported after-tax net profit of Rs 6,242.23 Crore in the last quarter.

Justification of the investment
Investors could buy at CMP and add more on declines to Rs. 121.5-123.5. The base case fair value of the share is Rs 149 (6.5xFY23E EPS plus the current value of listed investments after a 30% discount) and the bullish fair value of the share is Rs 163 (7xFY23E EPS plus the current value of listed investments after a 30% discount) over the next 2 quarters. At the CMP of Rs 137.75, the stock trades at 5.85xFY23E EPS plus the current value of listed investments after a 30% discount.


Promoter / FII Holdings
The promoters held 60.4% of the company’s capital as of September 30, 2020, while the FIIs held 7.7%, the DII 17.5% and the public and others 14.4%.

(Disclaimer: The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking any position in any of the stocks mentioned.

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Organization tracks hundreds of COVID-related deaths in the line of duty

OAK CITY, NC (WITN) – Oak City Fire Chief Butch Beach on Thursday examined a stack of sympathy cards from all over the United States while thinking of the three EMS personnel they lost at cause of COVID-19 in 2021, including former mayor William Stalls.

“When the mayor walked in he would slam the door so everyone would know he was coming if he was here,” Beach said. “It was very sad, we had a difficult year. “

Stalls died about a day before the department lost another of their own, Lt. Willie Bunch. Stalls and Bunch were both on a ventilator in the COVID intensive care unit at Vidant Medical Center in Greenville.

The city’s losses follow hundreds of others nationwide whose deaths in the line of duty have been linked to COVID-19.

Firefighters Close Call was created by selected members of the fire service personnel to provide information, data and share experiences relating to the safety, health, well-being and survivability of the service community ‘fire.

But what the National Fallen Firefighters Foundation has achieved is the growing number of public safety officers who have contracted COVID-19 while on duty and died from complications.

“What neither of us expected was to see this number of deaths from COVID,” said Ron Siarnicki. “181 firefighters have died since the start of the pandemic, 78 emergency medical providers, 525 police officers and 18 communication personnel from public safety response points. That makes a total of 802 people have died from complications from COVID. “

Siarnicki added that they saw a significant number of cases among firefighters in August and September 2021, equal only to December and January 2020 and 2021, respectively.

Close calls from firefighters will determine how many of the mentioned reported deaths have contracted COVID-19 while on duty.

In Maryland, they will pay tribute to 14 firefighters who were considered dead in the line of duty COVID in October.

“Number one, these people probably died helping someone else,” Beach said. “Number two, not only does it affect them, it affects their family and the fire department is also their family. EMS is their family.

The risk message can be clear to most people in the department without having to enforce a vaccination mandate.

Beach highlighted the difference between those who have died and those who have recovered from COVID-19 in the department.

“Two died and two recovered fairly quickly, and the two who recovered fairly quickly had been vaccinated.”

Yet more can be done to help protect public safety officers. Beach encouraged people to let EMS staff know if you feel sick or have symptoms of COVID-19.

“We really insist that people be very, very careful and let us know when they are sick or when they think they are sick. This helps us keep our firefighters and EMS safe. “

Copyright 2021 WITN. All rights reserved.

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RBC Bearings Incorporated announces pricing of the 4.375% Senior Notes due 2029 by Roller Bearing Company of America, Inc.

OXFORD, Connecticut – (COMMERCIAL THREAD) – RBC Bearings Incorporated (Nasdaq: ROLL) (“RBC Bearings”), a leading international manufacturer and distributor of bearings and high-tech precision products for the industrial, defense and construction industries. aerospace industry, today announced that Roller Bearing Company of America, Inc. (the “Issuer”), a wholly owned subsidiary of RBC Bearings, has successfully price a principal amount offering aggregate of $ 500.0 million of 4.375% Senior Notes due 2029 (the “Notes”). The offering is expected to close on October 7, 2021, subject to customary closing conditions.

The Notes are offered in connection with the financing by RBC Bearings of its previously announced pending acquisition of Dodge Mechanical Power Transmission Business (“Dodge”) from ABB Asea Brown Boveri Ltd. RBC Bearings intends to use the net proceeds of the offering to fund a portion of the purchase price in cash for the ongoing acquisition of Dodge, to pay costs and expenses related to the acquisition, and to other general corporate purposes. In addition, essentially simultaneously with the closing of the current acquisition, the Issuer is expected to become the borrower under a new credit agreement.

The Issuer will ensure that the gross proceeds from the sale of the Notes, plus certain fees and expenses, are deposited in an escrow account until the date on which certain conditions for discharge from escrow are met. The conditions for release from escrow include, among other things, the completion of the current acquisition. Prior to the satisfaction of the conditions of discharge of the receiver, the Bonds will be obligations of the Issuer secured by a first ranking security interest on the funds held in the escrow account of the Issuer and will not be guaranteed. Upon satisfaction of the escrow release conditions, the Notes will be jointly and individually guaranteed on a senior unsecured basis by RBC Bearings and each of the existing and future domestic subsidiaries of the issuer that guarantees its new credit facilities.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold to United States or any other United States Person not registered under the Securities Act, or under an applicable exemption or in connection with a transaction not subject to the registration requirements of the Securities Act and securities laws of the applicable state. The Notes will be offered and sold only to “qualified institutional buyers” in the United States in accordance with Rule 144A of the Securities Act or, outside the United States, to persons other than “US Persons” in accordance with Regulation S under the Securities Act. .

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, and there will be no sale of any such securities, in any state or otherwise. jurisdiction in which such offer, sale or solicitation would be illegal prior to registration or qualification under the securities laws of that state or jurisdiction.

About RBC Bearings

RBC Bearings is an international manufacturer and distributor of high-tech precision bearings and components. Founded in 1919, RBC Bearings is primarily focused on the production of highly engineered or regulated bearing products and components requiring sophisticated design, testing and manufacturing capabilities for the diverse industrial, aerospace and automotive markets. defense. RBC Bearings is headquartered in Oxford, Connecticut.

Forward-looking statements

This press release includes forward-looking statements, including statements regarding the completion and timing of the proposed offer, the intended use of the net proceeds from the proposed offer, the completion of the ongoing acquisition of Dodge and the terms and conditions. of the titles offered. Forward-looking statements represent RBC Bearings’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements. These risks and uncertainties include market conditions, including market interest rates, the price and volatility of the common shares of RBC Bearings, the satisfaction of closing conditions relating to the pending acquisition of Dodge, and risks relating to the business of RBC Bearings, including those described in the periodic reports that RBC Bearings files from time to time with the SEC. RBC Bearings may not complete the proposed offer described in this press release and, if the proposed offer is successful, cannot provide any assurance regarding the final terms of the offer or its ability to effectively affect the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and RBC Bearings does not undertake to update the statements included in this press release for future developments, unless the law requires it.

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How does it rank on fundamental metrics?

Stryker Corporation (SYK) receives a low valuation ranking of 33 from Investors Observer data analysis. The proprietary ranking system focuses on the underlying health of a business by analyzing its stock price, earnings, and rate of growth. SYK is worth better than 33% of the stocks based on these valuation analyzes. Investors primarily focused on buy and hold strategies will find the valuation ranking relevant to their goals when making investment decisions.

SYK achieves an evaluation ranking of 33 today. Find out what this means to you and get the rest of the leaderboard on SYK!

Metrics analysis

SYK’s 12-month price-to-earnings (PE) ratio of 49.8 puts it above the all-time average of around 15. SYK is poor value at its current trading price as investors pay more than it. that it is worth in relation to the company’s profits. . SYK’s last 12-month earnings per share (EPS) of 5.46 does not justify what it is currently trading in the market. Tracking PE ratios, however, do not take into account a company’s projected growth rate, resulting in some companies having high PE ratios due to high growth potentially attractive to investors even though current earnings are weak. SYK has a 12-month forward PEG to Growth Ratio of 2.99. The markets are overvaluing SYK relative to its projected growth, as its PEG ratio is currently above fair market value of 1. The PEG of 5.46000003 comes from the fact that its forward price / earnings ratio is divided by its growth rate. PEG ratios are one of the most widely used valuation metrics due to the incorporation of more fundamental business metrics and the focus on the future of the business rather than its past.

Summary

SYK’s valuation measures are weak at its current price due to an overvalued PEG ratio despite strong growth. SYK’s PE and PEG are below the market average, resulting in a lower than average review score. Click here for the full Stryker Corporation (SYK) Stock Report.

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KBRA publishes research – Insurance: KBRA’s framework for integrating ESG risk management into credit ratings


NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) publishes a study on our approach to integrate environmental, social and governance (ESG) factors into the credit rating process of (re) insurance companies.

Key points to remember

  • The diversity of organizational structures, regulatory regimes, liability risks and distribution channels in the (re) insurance industry will likely result in a range of ESG touchpoints that vary widely by industry and market. In accordance with our overall rating framework, KBRA will examine the credit impact of ESG factors in the unique business environment of each (re) insurer.

  • When analyzing climate risk for insurance companies, we take into account climate-related exposure, including exposure to physical risks such as sea level rise, drought and other extreme weather events, as well as transition risks, which are indirect and related to an entity’s ability to adapt to a changing regulatory environment as well as to changes in the overall dynamics of the insurance market.

  • For social factors, KBRA will focus on how management has identified its stakeholders, assessed potentially competing interests and calibrated its approach in the context of the (re) insurer’s overall business strategy.

  • KBRA’s rating process for (re) insurers will continue to incorporate an assessment of governance structures and their relevance to the size and complexity of the entity, but will also include a specific line of inquiry. to highlight explicit strategies or programs to address ESG issues, with particular emphasis on cybersecurity.

Click here to view the report.

Related publications

About KBRA

KBRA is a full service credit rating agency registered in the US, EU and UK, and is designated to provide structured finance ratings in Canada. KBRA ratings may be used by investors for regulatory capital purposes in several jurisdictions.

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Novavax and Serum Institute of India Announce Submission to World Health Organization for Novavax’s Emergency Use List for COVID-19 Vaccine

GAITHERSBURG, MD., September 23, 2021 / CNW / – Novavax, Inc. (Nasdaq: NVAX), a biotechnology company dedicated to the development and commercialization of next-generation vaccines against serious infectious diseases, with its partner, the Serum Institute of India Pvt. Ltd. (SII), today announced a regulatory submission to the World Health Organization (WHO) for the Emergency Use List (EUL) of Novavax’s recombinant protein nanoparticle COVID-19 vaccine candidate with Matrix-M ™ adjuvant. The submission to WHO is based on the previous regulatory submission of companies to the Comptroller General of Medicines of India (DCGI).

“Today’s submission of our protein-based COVID-19 vaccine to WHO for emergency use is an important step on the road to accelerated access and distribution fairer to the countries in great need of it in the world ”, declared Stanley C. erck, President and Chief Executive Officer, Novavax. “It represents another important step in the transformation of Novavax into a global commercial vaccine company and reinforces the value of global collaboration and the need for multiple approaches to help control the pandemic. “

The granting of EUL by WHO is a prerequisite for exports to many countries participating in the COVAX Facility, which was established to allocate and distribute vaccines equitably to participating countries and economies. In addition to the submission for the WHO EUL, SII and Novavax last month completed the submission of modules required by regulatory bodies in India, Indonesia and The Philippines for the initiation of the vaccine review, including preclinical, clinical and chemical, manufacturing and control (CMC) data.

About NVX-CoV2373
NVX-CoV2373 is being evaluated in two pivotal Phase 3 trials: a UK trial that demonstrated 96.4% efficacy against the original viral strain, 86.3% against the Alpha variant (B.1.1 .7) and an overall efficiency of 89.7%; and the PREVENT-19 trial in the United States and Mexico which demonstrated 100% protection against moderate and severe disease and an overall efficacy of 90.4%. It was generally well tolerated and elicited a strong antibody response.

NVX-CoV2373 is a protein-based vaccine candidate designed from the genetic sequence of the first strain of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’s recombinant nanoparticle technology to generate an antigen derived from the coronavirus spike (S) protein and is formulated with the patented Matrix-M ™ adjuvant based on saponin from Novavax to improve the immune response and stimulate high levels of neutralizing antibodies. NVX-CoV2373 contains purified protein antigen and cannot replicate or cause COVID-19.

Novavax’s COVID-19 vaccine is packaged as a ready-to-use liquid formulation in a vial containing ten doses. The vaccination schedule requires two doses of 0.5 ml (5 micrograms of antigen and 50 micrograms of Matrix-M adjuvant) administered intramuscularly 21 days apart. The vaccine is stored between 2 ° and 8 ° Celsius, which allows the use of the vaccine supply and existing cold chain channels.

About Matrix-M ™ Adjuvant
Novavax’s patented saponin-based Matrix-M ™ adjuvant has been shown to have a potent and well-tolerated effect by stimulating entry of antigen-presenting cells into the injection site and improving antigen presentation in the injection site. local lymph nodes, thereby strengthening the immune response.

About Novavax
Novavax, Inc. (Nasdaq: NVAX) is a biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The company’s proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to meet urgent global health needs. Novavax is conducting advanced clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu ™, its quadrivalent nanoparticle influenza vaccine, has met all of the primary goals of its pivotal Phase 3 clinical trial in the elderly and will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax’s proprietary saponin-based Matrix-M ™ adjuvant to enhance immune response and stimulate high levels of neutralizing antibodies.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

Forward-looking statements
These statements regarding the future of Novavax, its operating plans and prospects, the ongoing development of NVX-CoV2373 and other Novavax vaccine candidates, the timing of future filings and regulatory actions, and the role that Novavax may playing to help control the COVID-19 pandemic are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties which could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include the challenges of meeting, alone or with partners, various safety, efficacy and product characterization requirements, including those related to process qualification and test validation, necessary to meet applicable regulatory authorities; difficulty in obtaining scarce raw materials and supplies; resource constraints, including human capital and manufacturing capacity, on Novavax’s ability to follow planned regulatory pathways; challenges in meeting contractual requirements under agreements with multiple commercial, government and other entities; and the other risk factors identified in the “Risk factors” and “Management’s analysis and analysis of the financial position and operating results” sections of Novavax’s annual report on Form 10-K for the financial year ended December 31, 2020 and subsequent quarterly reports on Form 10-Q, as filed with the Securities and Exchange Commission (SEC). We caution investors not to place significant reliance on any forward-looking statements contained in this press release. We encourage you to read our SEC filings, available at www.sec.gov and www.novavax.com, for a discussion of these and other risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date of this document, and we assume no obligation to update or revise any such statements. Our business is subject to significant risks and uncertainties, including those mentioned above. Investors, potential investors and others should carefully consider these risks and uncertainties.

Contacts:
Investors
Novavax, Inc.
Erika Schultz | 240-268-2022
[email protected]

Solebury Trout
Alexandra Roy | 617-221-9197
[email protected]

Media
Alison Chartan | 240-720-7804
Laura Keenan Lindsey | 202-709-7521
[email protected]

Novavax logo (PRNewsfoto / Novavax)

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SOURCE Novavax, Inc.

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Indium Corporation mourns the loss of Chairman of the Board William N. Macartney III

It is with great sadness that Indium Corporation announces the passing of President William (Bill) N. Macartney III on September 14, 2021.

Macartney leaves behind a business he has served faithfully for over 50 years. Macartney joined in 1967 and was named president in 1970. He was named president in 2017.

Over these many decades, Indium Corporation has experienced steady and steady growth and significant market expansion. Under Macartney, Indium Corporation grew from around 20 employees to nearly 1,200 today and from a factory in Utica, NY, USA to 14 modern and ever-expanding facilities around the world.

“Characteristics of Bill’s leadership were his dedication to the people who worked for him, his concern for the community, and his commitment to customers who relied on Indium Corporation to deliver exceptional products that truly made an impact on the world. Said Greg Evans, CEO.

“Bill believed that materials science changed the world and made it a fundamental part of the culture of Indium Corporation,” said Ross Berntson, president and chief operating officer. “It provided the platform for our team to continuously search for the next technological advancement.”

The appointment of a new President will be made at the discretion of the Board of Directors. Evans remains CEO and Ross Berntson remains president and chief operating officer.

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McCormick & Company, Incorporated (MKC) to report results on Thursday

McCormick & Company, Incorporated (NYSE: MKC) is expected to release earnings data before market opens on Thursday, September 30. Analysts expect McCormick & Company, Incorporated to post earnings of $ 0.73 per share for the quarter. People who wish to listen to the corporate earnings conference call can do so using this link.

McCormick & Company, Incorporated (NYSE: MKC) last released its quarterly results on Wednesday, June 30. The company reported EPS of $ 0.69 for the quarter, beating analyst consensus estimates of $ 0.62 by $ 0.07. The company posted revenue of $ 1.56 billion for the quarter, compared to analysts’ expectations of $ 1.47 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. McCormick & Company, Incorporated revenue increased 11.1% year-over-year. In the same quarter of the previous year, the company posted $ 0.73 in EPS. On average, analysts expect McCormick & Company, Incorporated to post $ 3 EPS for the current fiscal year and $ 3 EPS for the next fiscal year.

NYSE: MKC opened at $ 85.33 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.38 and a debt ratio of 1.09. The stock has a market cap of $ 22.81 billion, a PE ratio of 30.64, a price-to-earnings growth ratio of 4.13, and a beta of 0.48. The company’s 50-day moving average is $ 85.91 and its 200-day moving average is $ 87.69. McCormick & Company, Incorporated has a 12-month low of $ 82.03 and a 12-month high of $ 101.67.

(A d)

The world is warned. This revolutionary platform combines live streaming with social media and digital currencies.

With rapid expansion and revenue growth, this disruptor has live streaming and digital mining operations in the palm of his hand.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 26. Investors registered on Monday July 12 received a dividend of $ 0.34. The ex-dividend date was Friday July 9. This represents a dividend of $ 1.36 on an annualized basis and a return of 1.59%. McCormick & Company, Incorporated’s dividend payout ratio is 48.06%.

Meanwhile, director Freeman A. Hrabowski III sold 2,870 company shares in a trade on Friday, August 20. The shares were sold at an average price of $ 87.50, for a total trade of $ 251,125. Following the completion of the transaction, the director now directly owns 92,983 shares of the company, valued at approximately $ 8,136,012.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible through the SEC website. 13.90% of the shares are held by insiders.

A number of research analysts have weighed in on MKC stocks recently. Deutsche Bank Aktiengesellschaft reduced its price target on McCormick & Company, Incorporated shares from $ 95.00 to $ 91.00 and set a “conservation” rating for the company in a research note on Friday September 17th . Stifel Nicolaus reiterated a “conservation” note and issued a price target of $ 89 on shares of McCormick & Company, Incorporated in a research note on Friday, July 2. Finally, Credit Suisse Group lowered its price target on McCormick & Company, Incorporated shares from $ 104.00 to $ 100.00 and established an “outperformance” rating for the company in a research note on Monday. September 13. Four equity research analysts rated the stock with a conservation rating and one assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $ 96.88.

About McCormick & Company, Incorporated

McCormick & Co, Inc is engaged in the manufacture, marketing and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and retailers. catering companies. It operates through the following segments: Consumer and Flavor Solutions. The consumer segment operates by selling to retail channels including grocery stores, mass merchandise, warehouse clubs, discount stores and drugstores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

Read more: Forex

McCormick & Company, Incorporated (NYSE: MKC) Revenue History

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Should you invest $ 1,000 in McCormick & Company, Incorporated now?

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Georgian organization strives to provide essential supplies to Haitians with community support

An organization called “Atlanta for Haiti” is working to provide supplies to those affected by last month’s devastating earthquake.

Founder Meagan Henry said she worked with the community to collect essential items, such as water, clothing, tarpaulins, tents and hygiene items.

“These are emergency supplies that go directly to Haiti. It leaves Atlanta in the coming days. It will go to Miami then on a boat, it goes to Haiti and we distribute in the areas that have been affected,” a said Henry.

Over 2,000 people lost their lives in the earthquake and over 130,000 homes were destroyed. Livestock and crops have been damaged by landslides and many do not have access to safe drinking water.

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The scope of the organization goes beyond collecting and shipping supplies. The group is also working with Haitians to get supplies to areas that need them most.

“We actually created jobs, so they work with us and we have them. First, they need the money. Second, they’re awesome and we love them. It’s a way to create jobs for them in the country, ”said Henry.

Henry’s work with communities in Haiti dates back to 2017, when she made her first trip there.

“My mentor asked me to come to Haiti with her. I didn’t even have a passport at the time. And I said to him, ‘Dr Pat, all go next week. I don’t even have a passport, ‘”said Henri.

But it was this trip that changed the course of his life.

“Immediately I see the need. A huge sanitation problem, huge insecurities in all the important areas that humans need just to be healthy,” she said. Soon after, Atlanta for Haiti was born.

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She emphasizes that every part of this process has been a community effort, starting with the space in which donations are stored.

Jay and Ernestine Morrison are the co-founders of the Legacy Center in East Point.

They said Henry contacted several weeks ago with the request for space to store the donations.

“When we got the phone call saying hey, can we use your space, I was like ‘absolutely, get off’,” said Ernestine Morrison. “Just to see an overflow and an abundance of boxes given, it just shows us that there is so much power in the unit. And when we make the call, the answers come.”

The Morrisons said it was a reminder that even the smallest act can lead to big change.

“When it comes to activism or humanitarianism, do what is within your means. It could just be to donate that old T-shirt, you don’t have to do much. Or come and volunteer. with the fairness of sweat and move boxes, ”Jay Morrison mentioned.

You can find more information about Atlanta for Haiti or how to donate on their website.

Learn more about the Legacy Center by visiting their website.

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How ABA’s Opinion is Changing the Landscape of Alternative Business Structure

By Hilary Gerzhoy and Deepika Ravi (September 22, 2021, 6:14 p.m. EDT) – Until recently, the American Bar Association and virtually all states except the District of Columbia have relinquished ownership of law firms. ‘lawyers by non-lawyers, called alternative cases. structures, or ABS. One of the practical effects of this resistance has been a series of obstacles for a law firm wishing to expand its practice.

On September 8, the ABA Standing Committee on Ethics and Professional Responsibility released Formal Opinion 499, loosening the reins and following a recent trend in Arizona and Utah.

The formal opinion, entitled “Passive investment in alternative business structures”,[1] believes that a lawyer can passively invest in a …

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