Last month, the German Ministry for Justice and Legal Affairs (Bundesjustizministerium) published a draft law proposal aimed at further "facilitating the restructuring of businesses".
August 17, 2010
On August 11, 2010, the Delaware Court of Chancery issued an important opinion in the area of stockholder rights plans, or poison pills. Vice Chancellor Strine's opinion in Yucaipa American Alliance Fund II, L.P.
August 17, 2010
On July 19, 2010, the U.S. Court of Appeals for the Eleventh Circuit issued a decision that dramatically limits federal court jurisdiction over class actions initiated under the Class Action Fairness Act of 2005 (CAFA). In Cappuccitti v. DirecTV, No.
August 17, 2010
Los Angeles partner Debra Wong Yang is the author of "FCPA Challenges from Across the Pacific" [PDF] published in the August 12, 2010 issue of the Daily Journal.
August 12, 2010
While Filings Are Down, Securities Litigation Remains Robust, As Major Cases Await Resolution, and Congress Creates New Litigation Risks for Public Companies and Their Directors and Officers
August 9, 2010
Over the past decade, the Antitrust Division of the United States Department of Justice has pursued a vigorous enforcement policy in prosecuting international cartel offenses against corporate as well as individual violators -- both domestic and foreign. In implementing this enforcement policy, the Antitrust Division has been prosecuting more individuals than it has in the past, and it has been seeking longer prison sentences. Today, due to enhanced cooperation with law enforcement authorities in other nations, advanced investigative techniques and the ability to extradite fugitives from other countries with criminal antitrust laws, the Antitrust Division takes the position that "no-jail deals" for corporate executives located outside the United States are "a rel
August 5, 2010
Consistent with the past several years, the first half of 2010 brought several Deferred Prosecution Agreements ("DPAs") and Non-Prosecution Agreements ("NPAs"). Although rarely used a decade ago, such agreements now are an important governmental tool in the fight against corporate crime. DPAs and NPAs are agreements between the government and a corporation whereby the government agrees to defer or forgo criminal charges against the corporation in exchange for adherence to the terms of the agreement. The purpose of DPAs and NPAs is to deter, punish, and reform corporate behavior without imposing collateral consequences on corporations and innocent parties such as employees, local community ties, and shareholders. Not surprisingly, the Departmen
August 5, 2010
As discussed in Gibson Dunn's prior communications, there are two primary avenues to seek the early dismissal (i.e., before discovery) of a qui tam action brought against a school.
August 3, 2010
San Francisco partner Stewart L. McDowell is the author of "Underwriters, IPOs And Potential FINRA Problems" [PDF] published online by Law360 on August 3, 2010 at law360.com.
August 3, 2010
Welcome to our Mid-Year Executive Summary, in which we highlight key developments in UK Employment and Labour Law since the beginning of the year. A summary of cases and developments is provided below. For further details concerning cases and developments discussed in this Executive Summary or for assistance on any UK Employment or Labour law matter, please contact James Cox or Daniel Pollard in Gibson Dunn's London office. (1) Unlimited Compensation for Breach of Contractual Procedures. The Court of Appeal has held that where an employer fails to follow a contractual disciplinary procedure an employee can, in principle, claim contractual damages that extend beyond the expiry of the notice period.
August 2, 2010
Singapore Partner Saptak Santra is the author of "Bondholders, fight back" [PDF] which appeared in the July/August 2010 issue of IFLR.
August 2, 2010
Printable PDFOn July 27, 2010, U.S. Securities and Exchange Commission ("SEC") Chairman Mary L.
July 28, 2010
On July 1, 2010, President Obama signed the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 ("CISADA"), which amends and extends sanctions imposed under the Iran Refined Petroleum Sanctions Act of 2009 and the Iran Sanctions Act of 1996 (formerly the Iran and Libya Sanctions Act of 1996).
July 28, 2010
In a move that will likely trigger an increase in whistleblower allegations and investigations, on July 23, 2010, the U.S. Securities and Exchange Commission ("Commission") announced that it had awarded a $1 million bounty to Karen Kaiser for providing information and documents leading to the collection of civil penalties in the Commission's insider trading actions in May of this year against Pequot Capital Management, Inc.
July 27, 2010
After months of intense political wrangling, furious lobbying and cogitation of an unprecedented number of amendments ... industry was led to believe that we were close to a settled form of text for the proposed new EU Alternative Investment Fund Managers (AIFM) Directive. Alas, no. The European Parliament and the European Council have alternative versions of the Directive which are ...
July 26, 2010
Printable PDF Dodd-Frank Wall Street Reform and Consumer Protection Act Signed by the President On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, the most sweeping financial reform legislation in over a generation.
July 23, 2010
On June 30, 2010, the Telecom Regulatory Authority of India ("TRAI") issued recommendations proposing changes to the existing policy on foreign investment in the broadcasting sector ("Recommendations") which was required in light of the amendments to the method of calculating the level of foreign investment in Indian companies as set out in the consolidated foreign direct investment policy issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India ("GoI") on March 31, 2010 ("Policy").
July 23, 2010
Printable PDF The principal mechanism for U.S. shareholder participation in corporate governance is being comprehensively scrutinized by the Securities and Exchange Commission (the "SEC") for the first time in almost thirty years.
July 22, 2010
Los Angeles partner Gareth Evans, New York of counsel Farrah Pepper and San Francisco associates Matthew S. Kahn and Jenna Musselman Yott are the authors of "2010 Mid-Year Report on Electronic Discovery and Information Law" [PDF] published in the July 22, 2010 issue of BNA's Digital Discovery and E-Evidence Report.Reproduced with permission from Digital Discovery and E-Evidence Report, 10 DDEE 12 (July 22, 2010). Copyright 2010 by The Bureau of National Affairs, Inc.
July 22, 2010
During the midst of the financial crisis, the continued existence, much less powers, of the Securities and Exchange Commission were in doubt. But in the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Commission emerged with expanded jurisdiction over hedge funds, credit ratings agencies, and governance of public companies, among other areas. To help implement this authority, the Dodd-Frank Act added several new weapons to the Commission's already substantial enforcement arsenal. Some of the provisions are clarifications (such as provisions assuring that certain anti-manipulation provisions extend to all non government securities) or simplify the enforcement process (such as providing for nationwide service of process in civil actions).Several of the p
July 21, 2010