Recently, the Internal Revenue Service ("IRS") published final regulations concerning the deductibility of the use of business aircraft for personal purposes.
September 12, 2012
Overturning a much criticized judicial precedent laid down by a Division Bench (consisting of three judges) of the Supreme Court of India ("Supreme Court") in the case of Bhatia International v. Bulk Trading S.A.
September 11, 2012
The European Court of Justice ("ECJ") has ruled that cross-border migration by way of converting into a company format subject to the laws of a different EU member state is protected and permitted by overriding EU law even in cases where the national laws of the two countries in question do not provide for such a possibility.I. The Decision of the ECJ in the VALE-CaseIn its judgment of July 12, 2012 (Case C-378/10, VALE Építési kft), the ECJ has answered one of the last open, fundamental questions of cross-border movement of European companies among EU member states.
September 7, 2012
Companies with customers in California are facing an increasing number of class action suits seeking significant sums in statutory damages, attorney's fees and costs under California's "Shine the Light" law, a part of California's Consumer Records Act.
September 5, 2012
On August 31, 2012, the Court of Appeals for the Federal Circuit handed down its en banc decision in two closely watched cases involving "divided infringement," Akamai Technologies, Inc., v. Limelight Networks, Inc., Nos.
September 5, 2012
On August 22, 2012, the SEC's Division of Trading and Markets (the "Staff") released Frequently Asked Questions ("FAQs") providing the Staff's views on provisions of the Jumpstart Our Business Startups Act ("JOBS Act") relating to research analysts and underwriters.
September 4, 2012
Los Angeles partner Marcellus McRae and associate Kim Nortman are the authors of "Your Witness: The issue of paying fact witnesses most commonly concerns former or current employees of a party in litigation" [PDF] published in the September 2012 issue of Los Angeles Lawyer.
September 1, 2012
Gibson Dunn partners Steven Buffone, Scott Calfas, Peter Hanlon, Mark Lahive, and Peter Wardle, and associates Michael Davis and Katherine McCord are the authors of "Corporate Law" [PDF] which appeared as Chapter 6 in the Chief Executive Legal Guide Legal Guide.
September 1, 2012
Gibson Dunn partners George Brown, Marcellus McRae and Debra Wong Yang, and associates Daniel Chirlin, Tzung-Lin Fu, Stephenie Gosnell Handler, Kacie Lally, Justin Liu, Meredith Smith, Daniel Weiss, and Susannah Stroud Wright are the authors of "White Collar Criminal Law" [PDF] which appeared as Chapter 1 in the Chief Executive Legal Guide.This chapter is part of the Chief Executive Legal Guide and is reproduced with permission from Chief Executive Group, LLC.
September 1, 2012
New York partner Glenn Pollner is the author of "The JOBS Act: What It Means for Capital Markets Practices and Capital-Raising Strategies" [PDF] appearing as a chapter in the 2012 Edition of Aspatore's Inside the Minds: Recent Developments in Securities Law.
September 1, 2012
New York partner Eduardo Gallardo is the author of "An Expert's View" [PDF] published in the September 2012 issue of PLC's Practical Law The Journal.
September 1, 2012
On August 29, 2012, the Securities and Exchange Commission (the "SEC" or the "Commission") proposed rules to implement Section 201(a) of the Jumpstart Our Business Startups (JOBS) Act, which requires the SEC to eliminate the prohibition against general solicitation and general advertising (together, "general solicitation") in securities offerings conducted pursuant to Rule 506 of Regulation D under the Securities Act of 1933 (the "Securities Act") and Rule 144A under the Securities Act.
August 31, 2012
Two recent federal appeals court decisions are sure to fuel the already explosive growth of False Claims Act litigation and suggest that the courts are out of touch with the realities of today's Government contracting world. First, in U.S.
August 28, 2012
The Securities and Exchange Commission ("SEC" or "Commission") on August 22, 2012 adopted final rules regarding disclosure and reporting requirements with respect to the use of "conflict minerals" to implement Section 1502 of the Dodd-Frank Act. The final rules were adopted by a vote of 3 to 2, with Commissioners Paredes and Gallagher dissenting. The 356 page adopting release containing the final rules is available here. Gibson Dunn will issue a more extensive client alert in the near future with a more detailed discussion and analysis of the rules. However, from the discussion at the Commission meeting and a Commission briefing paper, we note a few significant points: The final rules apply to any issuer that files repor
August 23, 2012
At an open meeting held on August 15, 2012, the Public Company Accounting Oversight Board ("PCAOB") voted to approve new Auditing Standard No.
August 17, 2012
On Friday, August 10, 2012, President Obama signed the Iran Threat Reduction and Syria Human Rights Act (the "Act"), greatly expanding the scope of Iran sanctions. According to Representative Ileana Ros-Lehtinen, a principal proponent, the Act "seeks to tighten the chokehold on the regime beyond anything that has been done before." Among its most important provisions, the Act places tighter restrictions on U.S.
August 14, 2012
The past six months have seen securities class action filings increase slightly, and settlements decline dramatically, as the average settlement amount is reaching historic highs. The Supreme Court will decide two cases in the coming year that will be significant for securities litigation; at the same time, the lower courts are applying last year's significant Supreme Court decisions in different contexts. The first half of 2012 has not seen the series of landmark Supreme Court decisions that were handed down in 2011, but it has been a significant period as lower courts apply these decisions in different areas and in a number of different contexts. And the Supreme Court did decide one case--Credit Suisse Securities (USA) LLC v. Simmonds, 132 S.
August 13, 2012
The Government of India ("Government") has revised its policy in relation to downstream investments by banking companies incorporated in India that are owned and/or controlled by non-residents or non-resident entities ("Revised FDI Policy").
August 13, 2012
Brussels partner Andres Font Galarza is the author of "Transparencia en Internet" [PDF] published in Diario Perfil on August 11, 2012.
August 11, 2012
(A look at the latest developments in activism and related regulations in the UK and EU) This alert discusses some of the recent regulatory developments and debate in the UK and at EU level which may have an impact on institutional investors (asset managers and asset owners) and public companies and takes a look at some examples of investor activism in these jurisdictions.
August 10, 2012