In our 2010 updates, we noted a slower (although still aggressive) pace of U.S. antitrust enforcement activity and an uptick in European criminal enforcement. 2011 brings U.S.
July 15, 2011
$7,300,000,000! That's 7.3 billion dollars. If that figure grabbed your attention, imagine the reaction of federal and state prosecutors and qui tam plaintiffs' lawyers across the country when they heard that between January 2009 and June 2011, the Department of Justice ("DOJ") recovered more than $7.3 billion in civil settlements and judgments alone under the False Claims Act, 31 U.S.C.
July 14, 2011
On Monday, May 16, 2011, the United States Department of State, Directorate of Defense Trade Controls ("DDTC") issued a final rule amending parts 120, 124, and 126 of the International Traffic in Arms Regulations ("ITAR").
July 13, 2011
Los Angeles partner William Thomson, and associates Perlette Jura and Michael Seitz are the authors of "Forum Non Conveniens and Foreign-Judgment Recognition: Different Sides of Different Coins" [PDF] published in the July 13, 2011 issue of DRI - The Voice of the Defense Bar.
July 13, 2011
Deferred Prosecution Agreements ("DPAs") and Non-Prosecution Agreements ("NPAs") are an increasingly familiar tool used by the Department of Justice ("DOJ") to resolve alleged corporate wrongdoing. In May 2011, for the first time, the United States Securities and Exchange Commission ("SEC" or "Commission") entered into a DPA to resolve an enforcement action following its first-ever NPA in December 2010. Through these agreements, DOJ and, now, the SEC, agree to forgo prosecution in exchange for the company's agreement not to commit further violations of the law and to undertake specific cooperation and compliance obligations. In the DOJ context, DPAs and NPAs differ in one material respect: DOJ typically files a crimi
July 12, 2011
This is one in a series of brief introductory guides to practical issues in electronic discovery. To subscribe to future installments of E-Discovery Basics, please click here. Production is the next step in the e-discovery life cycle after electronically stored information ("ESI") has been preserved, collected, processed and reviewed.
July 11, 2011
For years now, we have been documenting the unprecedented surge of anti-corruption enforcement activity by the two regulators charged with enforcing the Foreign Corrupt Practices Act ("FCPA")--the U.S.
July 11, 2011
On July 6, 2011 the Federal Deposit Insurance Corporation's ("FDIC's") Board of Directors met in open session, voting unanimously to approve a final rule addressing the claims process and other aspects of the FDIC's orderly liquidation authority under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). The Board also discussed the FDIC's progress in preparing final rules with respect to both resolution planning under Dodd-Frank and the FDIC's own proposal, issued prior to the enactment of Dodd-Frank, separately calling for certain large insured depository institutions to file resolution plans.I. Final Rule on Orderly Liquidation AuthorityThe FDIC Board of Directors unanimously approved a final rule amending 12 C.F.R.
July 11, 2011
Now that the Supreme Court's 2010 Term has drawn to a close, Gibson Dunn's Supreme Court Round-Up, which has been tracking the Court's opinions and actions throughout the Term, contains a summary of each opinion that the Court issued this Term. In addition, as attention shifts to the Court's docket for the 2011 Term, the Supreme Court Round-Up provides a substantive snapshot of the cases the Court has agreed to hear beginning in October.Spearheaded by former Solicitor General Theodore B.
July 8, 2011
Orange County associates James Sabovich, Heather Hearne and Christopher Spiker are the authors of "Requiring Causation Proof in Foreign Recognition Actions" [PDF] published by Law360 at www.law360.com on July 7, 2011.
July 7, 2011
This is one in a series of brief introductory guides to practical issues in electronic discovery. To subscribe to future installments of E-Discovery Basics, please click here. After preserving and collecting electronically stored information ("ESI"), the next step is to determine what is relevant (or responsive to document requests or a subpoena), versus what is privileged, irrelevant or non-responsive.
July 5, 2011
Shareholders may state a derivative claim for insider trading without alleging injury to the company--so held the Delaware Supreme Court in an opinion it recently issued in Kahn v. Kohlberg Kravis Roberts & Co., L.P., No.
July 5, 2011
In a ruling that could spur a new wave of wage and hour class action litigation, the Supreme Court of California unanimously held in Sullivan v. Oracle Corp.
July 5, 2011
Munich partner Mark Zimmer is the author of "Vorsicht bei Geschäften in England!" published in the July 2011 issue of Finanzplatz.
July 5, 2011
FINRA rule 4530 will take effect on July 1, 2011. The new rule, part of FINRA's consolidated rulebook process, adds to the reporting requirements currently found in NASD rule 3070 and New York Stock Exchange rule 351.
July 1, 2011
London partners James Cox and Selina Sagayam, and Century City associate Michael Titera are the authors of "The Employee Strikes Back" [PDF] published in the July/August 2011 issue of IFLR.
July 1, 2011
New York partners Lawrence Zweifach and Jennifer Rearden, and associate Darcy Harris are the authors of "Standing in Mortgage-Backed Securities Class Action Litigation" [PDF] published in the Summer 2011 issue of ABA's Securities Litigation.
July 1, 2011
Los Angeles partner Linda Curtis and Century City associate Melissa Barshop are the authors of "Financing Provisions in Acquisition Agreements" [PDF] published in the Summer 2011 issue of California Business Law Practitioner.
July 1, 2011
On June 27, 2011, the Supreme Court invalidated a California statute prohibiting the sale or rental of "violent" video games to minors. In Brown v. Entertainment Merchants Association, No. 08-1448, the Court held that restrictions on video games are subject to strict scrutiny under the First Amendment, and that the California statute failed strict scrutiny. In an opinion by Justice Scalia, joined by Justices Kennedy, Ginsburg, Sotomayor, and Kagan, the Supreme Court held for the first time that video games are constitutionally protected speech. "Like the protected books, plays, and movies that preceded them," the Court explained, "video games communicate ideas--and even social messages--through many familiar literary devices (such as characte
June 28, 2011
On June 23, 2011, in a case that tested potential conflicts between free speech rights and the power of the state to regulate medical privacy and low-cost healthcare, the Supreme Court struck down a Vermont law that restricted the sale, disclosure, and use of pharmacy records that reveal the prescribing practices of individual doctors. In Sorrell v. IMS Health, No.
June 28, 2011