On September 12, 2006, the Governor of California signed legislation raising the minimum wage for workers in all industries from the current rate of $6.75 per hour to $7.50 per hour effective January 1, 2007, and $8.00 per hour effective January 1, 2008.
December 14, 2006
At a meeting today, the Securities and Exchange Commission (“SEC”) worked through an ambitious agenda and issued a number of significant new proposals and final rules.
December 13, 2006
As part of comprehensive changes to its rules on disclosure of executive compensation and related party transactions approved in July of this year, the Securities and Exchange Commission adopted a new requirement that companies provide disclosure about their policies and procedures governing related party transactions. The requirement applies for fiscal years ending on or after December 15, 2006 and therefore, will be in effect for the 2007 proxy season. New Item 404(b) of Regulation S-K requires disclosure of the material features of a company’s policies and procedures for the review, approval or ratification of related party transactions (referred to as "related person" transactions in Item 404). Although Item 404(b) does not mandate specific information, it
December 12, 2006
On December 5, 2006, the Second Circuit Court of Appeals dealt a significant blow to the plaintiffs’ bar, issuing an opinion that answered the “surprisingly unsettled” question of what standards govern a district judge in deciding a motion for class certification under Rule 23 of the Federal Rules of Civil Procedure.
December 8, 2006
Today, the SEC's amendments to the "best-price" rule became effective. As discussed in our previous client alert dated October 24, 2006, the Commission approved certain changes to the tender offer best-price rule.
December 8, 2006
As another year comes to a close, employers must take a number of actions to (i) address Section 409A of the Internal Revenue Code, (ii) amend their tax-qualified retirement plans to reflect certain rules that became effective in 2006, and (iii) begin operating their plans in compliance with new rules that become effective on January 1, 2007.
December 7, 2006
The new Companies Act 2006 (the "Companies Act") was published today. The Companies Act contains over 1,200 sections and 15 appendices and has taken 10 years to reach the statute books.
December 7, 2006
Munich partner Hans Martin Schmid and of counsel Christian Schmidt are the authors of "Real Estate Private Equity - Taxation for Foreign Investors" [PDF] published in the 2006 Private Equity Financial Yearbook.
December 1, 2006
Brussels Associate Vassili Moussis is a contributor to the Japan chapter [PDF] of the PLC Cross-Border Competition Handbook 2006-2007, Volume 2: Leniency.
December 1, 2006
On November 17, 2006, President George W. Bush accepted the recommendation of the Committee on Foreign Investment in the United States (CFIUS) and permitted the $11.8 billion acquisition of U.S.-based Lucent Technologies by the French telecommunications company, Alcatel.
November 28, 2006
Partner Andrew A. Lance and associate David C. Lee are the authors of "Condominium Hotels and Securities Laws" published in the November 27, 2006 issue of the New York Law Journal.
November 27, 2006
Partner Stephanie Tsacoumis is the author of "No Profit Doesn't Mean No Problem," published in the November 20, 2006 issue of Legal Times.
November 20, 2006
L-3 Communications Corporation (L-3), a Delaware company engaged in the business of manufacturing and exporting defense articles and providing defense services, has agreed to pay in fines and remedial compliance measures a civil penalty in the amount of $1.5 million in complete settlement of civil charges for its subsidiary's past, pre-acquisition violations of certain reporting requirements under the International Traffic in Arms Regulations (ITAR).
November 10, 2006
Decision has significant implications for option backdating litigationIn a significant decision issued on November 6, 2006, the Delaware Supreme Court ruled on the standard to be applied under Delaware law when assessing the personal liability of corporate directors for failing to adequately oversee the corporation.
November 8, 2006
Germany’s Federal Cartel Office (“FCO”) recently prohibited laser manufacturer Coherent, Inc.’s proposed acquisition of its competitor Excel Technology, Inc.
November 3, 2006
Washington, D.C. Partner Andrew S. Tulumello and Associate Travis D. Lenkner are authors of "For litigators, the cry is: ‘Play Ball!’" [PDF] published in the October 30, 2006 edition of The National Law Journal.
November 2, 2006
The Board of Governors of Gibson Dunn client American Red Cross unanimously approved a series of recommendations for transformational changes in an effort to modernize its 60-year-old governance structure.
November 2, 2006
Gibson Dunn partner Karen Manos is the author of "Recovery of Interest Against the Government" [PDF] which appears in the November 2006 issue of Cost, Pricing & Accounting Report.
November 1, 2006
Washington, D.C. partner Andrew S. Tulumello is the author of "The Antidote To Prolix Securities Fraud Complaints: Federal Rule of Civil Procedure 8" [PDF] published in the November 2006 issue of Thomson/West's The Wall Street Lawyer - Securities in the Electronic Age.
November 1, 2006
With its recent decision in Alex Sheshunoff Management Services, L.P. v. Johnson, the Texas Supreme Court has modified the standard for enforceability of covenants not to compete in the context of at-will employment arrangements.
October 30, 2006