The U.S. Securities and Exchange Commission answered some industry complaints when passing vast new rules over bond deals at the heart of the financial crisis, but broad new disclosure requirements around asset-backed securities could push more of the business to the private market exempted by Wednesday's rulemaking, attorneys said.
Schlumberger Ltd. was ordered to pay $600,000 in attorneys' fees and sanctions on Wednesday after a Texas judge threw out the majority of a lawsuit the company had filed accusing its former chief intellectual property lawyer of sharing trade secrets with Acacia Research Group.
A California federal judge on Wednesday refused to permanently ban Samsung Electronics Co. Ltd. from selling several mobile phones and tablets that a jury recently found infringed Apple Inc. patents, ruling Apple hadn't shown that it would suffer irreparable harm to its reputation.
A Delaware Chancery judge agreed Wednesday to fast-track a lawsuit by activist investor Bill Ackman and Valeant Pharmaceuticals International Inc. looking to compel a special shareholder meeting as part of their $53 billion hostile takeover campaign of Botox maker Allergan Inc., questioning whether the target actually wants to hold a meeting in December.
The U.S. Securities and Exchange Commission on Wednesday finalized broad new rules covering two outstanding components of the Dodd-Frank Act when it passed extensive new disclosure and reporting requirements for asset-backed securities and imposed new internal controls on credit rating agencies.
The U.K. Financial Conduct Authority on Wednesday fined The Royal Bank of Scotland PLC and its NatWest business £14.5 million ($24 million) for failing to provide suitable advice to consumers purchasing mortgages after investigating a series of transactions in 2012.
Allergan Inc. said Tuesday it will hold a special meeting on Dec. 18 where shareholders can vote on a proposed board overhaul, part of a $53 billion takeover bid by Valeant Pharmaceuticals International Inc., and will seek an order blocking Valeant, investor Bill Ackman and Ackman's hedge fund from voting their shares.
The Financial Industry Regulatory Authority and a group of U.S.-based securities exchanges have filed their proposal to implement a one-year pilot program to evaluate widening the trading tick size for certain small-capitalization stocks, the U.S. Securities and Exchange Commission announced Tuesday.
An Illinois federal court has sanctioned Robbins Geller Rudman & Dowd LLP after finding that the firm had engaged in “reckless and unjustified” conduct in a securities class action against The Boeing Co. that relied on erroneous claims by a confidential witness, according to a ruling made public Monday.
A Maryland federal judge on Tuesday amended a temporary restraining order that would have required Mylan Inc. and Par Sterile Products LLC to recall their generic versions of Hospira Inc.'s blockbuster sedative Precedex, saying he realized his initial decision went too far.
The World Health Organization is calling on governments to make it illegal to market electronic cigarettes to young users and to ban the smokeless tobacco products in public places, citing concerns about the tobacco industry’s future role in the rapidly expanding market, according to a report released Tuesday.
A New York federal judge dismissed the London Metal Exchange from antitrust multidistrict litigation over aluminum warehousing rates Monday, ruling to even her own surprise that the exchange was protected as an organ of the U.K. government despite being privately owned.
Citigroup Global Markets Inc. will pay nearly $2.5 million to settle Financial Industry Regulatory Authority charges that it failed to provide best execution on some 22,000 customer trades and supervise this trading even after being alerted about the alleged problems, FINRA said Tuesday.
A California federal judge ordered Hewlett-Packard Co. shareholders Monday to revise a proposed settlement in their derivative suit over HP's $11.1 billion Autonomy Corp. acquisition, vetoing a clause under which the plaintiffs' attorneys would be paid $18 million to help HP sue Autonomy’s top brass.
Burger King Worldwide Inc. will merge with Canadian coffee shop Tim Hortons Inc., the latest — and potentially most controversial — tactic for the burger chain after a series of innovative deal-making moves in recent years, including a New York Stock Exchange share listing and a novel merger structure using a tender offer.
A Hawaii federal judge ruled Monday that a Kauai County restriction on the cultivation of genetically modified crops is preempted by state law and invalid, siding with agribusiness units of Syngenta AG, BASF SE and other multinational corporations in their effort to overturn the local ordinance.
The National Labor Relations Board ruled Friday that clicking Facebook's “like” button was protected, concerted activity shielded by labor law, finding that the Triple Play Sports Bar and Grille unlawfully fired two workers over a Facebook discussion panning the bar's tax withholding calculations.
The Eighth Circuit on Monday let stand a $5.8 million judgment awarded to a class of Tyson Foods Inc. employees in a compensation dispute over the time they spent putting on and taking off protective gear, saying a lower court properly certified the workers' claims under both the Fair Labor Standards Act and Iowa state law.
Private equity firm Oak Hill Capital Partners is set to buy Berlin Packaging LLC from Investcorp for $1.43 billion, the companies said on Monday, in a deal that sees Oak Hill acquiring what it calls a packaging industry juggernaut.
Goldman Sachs & Co. said Friday that it has agreed to pay more than $3 billion to settle the Federal Housing Finance Agency's claims that it knowingly sold Fannie Mae and Freddie Mac toxic mortgage-backed securities in the run-up to the housing market collapse in 2007.
These days, jurors and judges are so accustomed to seeing graphics — on the street, on the Web, on their smartphones — that they expect to see something good in the courtroom. The best graphics are composed of consequential information, clearly displayed, with emphasis on what matters most, paired with artwork that adds meaning. This simultaneously compels people to think, feel and make decisions, says Aaron Stienstra, design direc... (continued)
United Technologies Corporation's global settlement with the U.S. Departments of State and Justice underscores the importance of a robust compliance program to prevent, detect and remediate any violations of export control laws or regulations — especially if products and services are destined for China, say Jeffrey Gerrish and Soo-Mi Rhee of Skadden Arps Slate Meagher & Flom LLP.
Following the U.S. Supreme Court's treatment of the machine-or-transformation test in Mayo Collaborative Services Inc. v. Prometheus Laboratories Inc., the test — previously thought to be the governing test for patent eligibility under § 101 — no longer appears to occupy such a prominent role in patent-eligibility jurisprudence, says William Merkel of Marshall Gerstein & Borun LLP.
“This is an easy case,” Justice Antonin Scalia wrote in his opinion in Radlax Gateway Hotel LLC v. Amalgamated Bank, settling the issue of whether the Bankruptcy Code grants the secured creditor a right to credit bid in an auction sale under a plan. But interestingly, the opinion barely mentions the infamous Philadelphia News decision from the Third Circuit which was effectively overruled by the U.S. Supreme Court, say attorneys wi... (continued)
While the New York state Senate did not act on the Foreclosure Fraud Prevention Act of 2012 before adjourning its regular session — and as a result there is little chance the bill will be enacted this year — the bill represents the latest attempt by state governments to impose criminal liability on fraudulent foreclosure practices by mortgage servicers or their employees, say attorneys with Dechert LLP.
In United States v. Aleynikov, the Second Circuit recently created an unfortunate cloud over the scope of the federal trade secret statute. The decision detracts from the primary legislative objectives to promote and protect national economic security and punish individuals who misappropriate intellectual property in the form of trade secrets, say Mark Krotoski and Richard Scott of the U.S. Department of Justice.
Although the Patient Protection and Affordable Care Act and its coverage mandates have been upheld, the lack of regulatory guidance for many key areas of the statute creates uncertainty regarding implementation and enforcement. No matter how employers and plan fiduciaries approach the various coverage mandates, it is clear that the future is not without risk of litigation, say attorneys with Proskauer Rose LLP.
The Northern District of California's opinion in Oracle America Inc. v. Google Inc. is suprising given that there was direct copying and that the threshold of originality required for a work to qualify as copyrightable has traditionally been so low that the application programming interfaces almost certainly qualified as sufficiently original to be protected by copyright, says David Makman of the Law Offices of David A. Makman.
The Committee on Foreign Investment in the United States recently blocked yet another acquisition involving Chinese investors. Any foreign companies looking to invest in the U.S. should be wary of the scrutiny they may confront, and determine whether CFIUS review is likely, say George Wang and Yelena Kotlarsky of Haynes and Boone LLP.
ING Bank NV's $619 million fine to settle criminal charges is the largest ever against a financial institution in connection with an investigation into U.S. sanctions violations and related offenses. The enforcement action is also notable in several other respects, say attorneys with Steptoe & Johnson LLP.