San Francisco partner Marc Fagel and New York associate Kenneth Burke are the authors of “Seven Recommendations to Assist Private Fund Managers in Navigating Heightened SEC Examination and Enforcement Activity” [PDF] published in The Hedge Fund Law Report on July 11, 2013.
July 11, 2013
$5 Billion! That's the approximate amount recovered by the federal government from settlements and judgments in cases filed under the federal False Claims Act, 31 U.S.C.
July 10, 2013
Deferred Prosecution Agreements ("DPAs") and Non-Prosecution Agreements ("NPAs") (collectively, "agreements") continue to be a consistent vehicle for prosecutors and companies alike in resolving allegations of corporate wrongdoing. In the two decades since their emergence as an alternative to the extremes of indictment and outright declination, DPAs and NPAs have risen in prominence, frequency, and scope. Such agreements are now a mainstay of the U.S.
July 9, 2013
Effective June 30, 2013, the German Administrative Offences Act ("OWiG") was considerably sharpened. Its changes were part of the most recent Amendment of the German Act against Restraints of Competition (on the anti-trust aspects see our Alert, "8th Amendment of the Act Against Restraints of Competition in Germany". The changes substantially increase the scope of liability of corporations for typical compliance violations that have been committed by the corporation's employees (e.g.
July 9, 2013
On July 2, 2013, the Board of Governors of the Federal Reserve System (Federal Reserve) unanimously approved its final rule implementing Basel III (Final Rule) and thus established the post-Financial Crisis capital framework for institutions under its jurisdiction.
July 9, 2013
Shareholder proposals continued to attract significant attention during the 2013 proxy season. This client alert provides an overview of shareholder proposals submitted to public companies during the 2013 proxy season, including statistics, notable decisions from the staff (the "Staff") of the Securities and Exchange Commission (the "SEC") on no-action requests and other Staff guidance, majority votes on shareholder proposals and litigation seeking to exclude shareholder proposals.
July 9, 2013
On June 27, 2013, the United States Court of Appeals for the Second Circuit issued an opinion addressing the "unsettled question" of whether the tolling principles of American Pipe & Construction Co.
July 8, 2013
Significant FCPA developments continued apace during the first six months of 2013. After a relative downtick in 2012, the first half of 2013 saw criminal enforcement of the statute return to the robust levels of recent years. With approximately 60 devoted prosecutors and enforcement attorneys, whose efforts are frequently supplemented by their colleagues in the U.S.
July 8, 2013
Now that the Supreme Court has ended its 2012 Term, Gibson Dunn's Supreme Court Business Round-Up provides a look at the Court's business-related decisions from this past Term. The 2012 Term was an important one for business at the Supreme Court. The Court heard thirty-three business-related cases, and issued major decisions in a wide variety of areas--including class actions, arbitration, transnational torts, intellectual property, employment, and the Takings Clause. Gibson Dunn was involved in some of this Term's highest profile business cases, including Comcast Corp.
July 1, 2013
Washington, D.C. partner David Debold and New York partner Matthew Benjamin are the authors of "2013 Guidelines Amendments: A Mixed Bag for White-Collar Defendants" [PDF] published in the July 2013 issue of ALM's Law Journal Newsletters: Business Crimes Bulletin.
July 1, 2013
On June 25, 2013, the Delaware Court of Chancery upheld the facial validity of corporate bylaws, adopted by the boards of directors of Chevron Corporation and FedEx Corporation, that select Delaware as the exclusive forum for derivative suits and other litigation concerning the corporations' internal affairs. In an opinion captioned Boilermakers Local 154 Retirement Fund v.
June 28, 2013
On June 3, 2013, President Obama signed Executive Order 13645 ("E.O."), "Authorizing the Implementation of Certain Sanctions Set Forth in the Iran Freedom and Counter-Proliferation Act of 2012 and Additional Sanctions with Respect to Iran." (Available here.) Concurrently with the issuance of the E.O., the Office of Foreign Assets Control ("OFAC") published Frequently Asked Questions about the E.O.
June 27, 2013
On June 20, 2013, in American Express Corp. v. Italian Colors Restaurant, (No. 12-133), the United States Supreme Court held that a party cannot escape individual, non-class arbitration by asserting that class action procedures are necessary to effectively prosecute the claim.
June 25, 2013
San Francisco Partner Marc Fagel is the author of "The SEC’s Troubling New Policy Requiring Admissions" [PDF] published in the June 24, 2013 issue of Bloomberg BNA's Securities Regulation & Law Report.Reproduced with permission from Securities Regulation & Law Report, 45 SRLR 1172, 06/24/2013.
June 24, 2013
On June 20, 2013, a three-member panel of the United States Court of Appeals for the Second Circuit issued an important decision that significantly curtails the authority of Irving Picard, as Trustee for the liquidation of Bernard L.
June 21, 2013
Washington, D.C. partner Joseph Kattan is the author of "FRAND Wars and Section 2" [PDF] published in the Summer 2013 issue of Antitrust.
June 21, 2013
At the recently concluded G8 Summit at Lough Erne, Northern Ireland, leaders of the G8 economies agreed new measures to clamp down on money-laundering, tax evasion and tax avoidance, including the G8 Action Plan to prevent the misuse of companies and legal arrangements (the "Action Plan").The Action PlanThe agreed Action Plan sets out eight core principles designed to ensure the integrity of beneficial ownership and basic company information and the timely access to that information by law enforcement and tax authorities.
June 20, 2013
Los Angeles partner Jeffrey Dintzer and associate Krista Hernandez are the authors of "Will public records trailer make the budget?" [PDF] published in the June 20, 2013 issue of the Daily Journal.
June 20, 2013
New York partner Brian Lutz and associate Jeffrey Salomon are the authors of “Target Boards in Single-Bidder Context Given Guidance” [PDF] published in the June 19, 2013 issue of Delaware Business Court Insider.
June 19, 2013
Washington, D.C. partner Helgi Walker is featured in "Women in the Life and Law of the D.C. Circuit Courts" filmed by the Historical Society of the District of Columbia Circuit in June 2013.
June 18, 2013