Now that the California Department of Insurance has decided that an EquityComp side agreement was illegal and unenforceable, attorneys who represent employer-participants in the program want that ruling to become binding precedent so the issue doesn't have to litigated again and again.
Nicholas Roxborough, a partner at Roxborough Pomerance Nye & Adreani, on Tuesday sent a letter to the insurance commissioner asking that a decision regarding side-agreements signed by Shasta Linen Supply be "indexed" and designated as a precedent decision.
"If this case becomes precedent...
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