Business Law News. Crime Stories, Law on News and Legal Publications in November, 2011

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How to start preparing for your year-end tax planning
Smart Business NetworkNovember 1, 2011

The end of the year is fast approaching — which means it's time to start thinking about year-end tax planning, both for your business and personal accounts. Planning early will help ensure maximum benefits. “Many items within tax planning are time ...more »

Craigslist becoming more popular for scammers
WDAYNovember 1, 2011

Last year The Internet Crime Complaint Center-an FBI partner-received 328 complaints in North Dakota, about 9% of that related to computer crimes. Seller beware. Scam artists are targeting people who sell on Craigslist. As a consumer credit counselor, ...more »

Business Law News and Stories

Advertising
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International Transactions Lawyer Neil Foster Joins Baker Botts in London
Sacramento BeeNovember 1, 2011

... Communications and Entertainment Committee. He serves on the Advisory Board for "Global Corporate Venturing" magazine. Foster is ranked by Chambers as a "leading individual" for M&A transactions. Baker Botts is an international law firm with over ...more »

Foreign Investments
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Your Money: Tips for avoiding investment scams | Philadelphia Inquirer | 2011 ...
Philadelphia InquirerNovember 1, 2011

Prosecutors allege Beachy set up a Ponzi scheme much smaller than Madoff's but similar in the fraudulent way it was managed. Madoff cheated his investors of nearly $20 billion, the largest investment swindle in US history. ...more »

Antitrust Law, Domestic
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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ...
Business Wire (press release)November 2, 2011

(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of OmniVision Technologies, Inc. (“OmniVision” or the “Company”) (NASDAQ:OVTI) between August 27, ...more »

Franchising
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Colts hope to regain their confidence in three-game homestand
WSBT-TVNovember 1, 2011

Those are, and have been, the watch words for a highly successful Colts franchise over the years. Now, the same franchise is struggling along with an 0-8 record at the midway point of the season. The Colts are one of two NFL franchises still without a ...more »

Gaming Law
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US Online Poker – Still a Taxing Problem
Casino Scam ReportNovember 7, 2011

The industry would have us believe that more US law-makers are pushing to get online poker (if not online gambling) legalized and regulated in the USA. This is a billion dollar industry – at least it was – until the DoJ shut down sites to US players ...more »

Banking Law
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Iran economy minister survives impeachment vote over bank scandal
Washington PostNovember 1, 2011

Lawmakers voted 141-93 on Tuesday to keep Shamsoddin Hosseini, who has been accused of failing to take action after learning of the alleged $2.6 billion bank fraud. Ahmadinejad said that dismissing Hosseini would be a setback for Iran's efforts to ...more »

Government Construction Contracts
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British Columbia court rules on conflict of interest in municipal construction...
Journal of CommerceNovember 3, 2011

The case dealt with a tender call for the construction of a surface drain. One of the bidders sued over the award to a competitor because the alderman who had the deciding vote on the contract award owned an interest in the successful bidder. ...more »

Business Formation
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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against HCA ...
Bradenton HeraldNovember 1, 2011

Specifically, the Complaint alleges that the Registration Statement and Prospectus failed to disclose that: (a) the Company improperly accounted for its prior business combinations in violation of Generally Accepted Accounting Principles, ...more »

Institutional Investing
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A New Warren (Buffett) Supreme Court?
ForbesNovember 2, 2011

In a recent opinion upholding the constitutionality of the Patient Protection and Affordable Care Act (colloquially known as “ObamaCare”) Judge Sutton cited Buffett's investment strategy as evidence that the PPACA did not violate the commerce clause of ...more »

Commercial
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W.Va. developer cooperating after FBI search of business office
The RepublicNovember 1, 2011

A lawyer for developer Douglas E. Pauley released a letter on Tuesday from the district's US Attorney's Office that discloses Pauley's ongoing help in the case. Pauley's businesses have long been involved in developing apartment complexes and ...more »

Law Office of Brodsky & Smith, LLC Announces Investigation of INX, Inc.
MarketWatch (press release)November 2, 2011

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of INX for not acting in the INX shareholders' best interests in connection with the sale process to Presidio. ...more »

Commercial Bankruptcy
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Copyright Troll Righthaven Faces Possible Asset Seizure
Corporate CounselNovember 1, 2011

His lawyers have argued in court filings that if the court does not have subject matter jurisdiction over the case then there's no basis for a fee award. "We understand that many of these cases are cases of first impression and there are differences of ...more »

Internal Investigative Services
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Ex-Philly D.A. Abraham once again investigating a sex-abuse scandal ...
Philadelphia Daily NewsNovember 15, 2011

FORMER PHILLY District Attorney Lynne Abraham, a self-described "staunch defender" of children's rights, has been retained by the board of the Second Mile to lead an internal investigation of the beleaguered charity now at the center ...more »

Commercial Leasing
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Peppers Nightclub owner agrees to close business after fatal shooting
Columbia MissourianNovember 2, 2011

Maybe, she said, she'll lease the property to someone who could use it for a restaurant. But the injunction is effectively shutting down the property for any use. It also requires Rowe to connect the property to the public sewer system. ...more »

International Transactions
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BEST BUY ACCELERATES CONNECTIONS STRATEGY
Reuters (press release)November 7, 2011

Also included in changes to the partnership with CPW is the granting of a series of call options that provide both parties with an option to secure the other's 50 percent interest in Best Buy Europe business starting in March 2015. ...more »

Communications & Media
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Florida Disbars 12 Attorneys
North Country GazetteNovember 1, 2011

(Admitted to practice: 1973) McNerney pleaded guilty in court to conspiracy to commit mail and wire fraud, a felony. William Timothy O'Toole, 1489 W. Palmetto Park Road, Suite 494, Boca Raton, suspended until further order, following a July 25 court ...more »

Realtors revolt against 'unfair' rate hike
Homer TribuneNovember 2, 2011

The question remains on whether there's a way to level out the peeks and valleys in costs to the department to maintain reasonable fees. But right now the law says you have to pay the costs of your administration for occupational licensing, he said. ...more »

Construction & Development
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Stanford, Cornell Among 15 Colleges Seeking New York Campus
BusinessWeekNovember 1, 2011

Stanford teamed with City College of New York, which would host classes starting in 2013 as construction began. Cornell University, based in Ithaca, New York, is joining with Technion-Israel Institute of Technology in Haifa, Israel. ...more »

Locating Funds
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Officials often act after damage done | Philadelphia Inquirer | 2011-11-13
Philadelphia InquirerNovember 13, 2011

It is a common complaint in fraud cases involving the elderly: Prosecutors, social service agencies, and attorney regulators are often slow to act, and by the time they do, the damage is done. "I don't think they [financial crimes against the elderly] ...more »

Contracts Involving State & Minicipality
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Report: ADA's employment arrangement may violate state law
Shreveport TimesNovember 1, 2011

The report also notes there is no existing state law allowing the Webster Police Jury to contract with a law firm for regular legal work, nor is their legal authority for an assistant district attorney to assign work to an associate of his private law...more »

Mergers, Acquisitions & Divestitures
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Evercore Partners (EVR) Shares Given New $30.00 Price Target by Ticonderoga ...
LocalizedUSANovember 1, 2011

The Company provides advisory services to multinational corporations on mergers, acquisitions, divestitures, restructurings, financings and other strategic corporate transactions. Evercore also includes an Investment Management business through which ...more »

Corporate Finance & Taxation
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Martin Walsh Joins Elevate to Lead Mergers and Acquisitions
MarketWatch (press release)November 1, 2011

Prior to joining Elevate, Mr. Walsh was managing partner of a private practice law firm focusing on emerging growth companies and corporate and business transactions. Mr. Walsh received his law degree with concentrations in business transactional law...more »

Mortgages & Foreclosures
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Tammy Baldwin To Introduce Resolution Opposing Immunity For Banks In ...
Huffington PostNovember 3, 2011

is set to introduce a resolution in Congress this week calling on the Obama administration and state attorneys general to ensure that any deal reached with the nation's biggest banks on foreclosure abuses includes full investigations into what happened ...more »

Creditor's Rights
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Company tries to distance itself from Solyndra
Tribune ReviewNovember 2, 2011

Eric Shirk, a Corbett spokesman, said the administration wasn't aware of the company's impending bankruptcy when it awarded the grant in August. At the time, US Rep. Lou Barletta, R-Hazleton, praised the flywheel plant as a "game changer" in the effort ...more »

Non-Profit Corporations
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12000 Inmates To Be Released Early Due To New Crack Sentencing
News OneNovember 1, 2011

Twenty-five years later NCMEC has become the leading nonprofit organization in the US working with law enforcement to address the problems of missing and sexually exploited children. Today the work of the organization includes twenty different ...more »

Customs Disputes
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COLUMN — Connect the dots on bridge vote
HollandSentinel.comNovember 1, 2011

Virtually every corporate interest and political leader wants the new bridge, which would be known as the New International Trade Crossing. But Moroun has donated heavily to many legislators. And on Oct. 19, the state senate's Economic Development ...more »

Professional Corporations
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Pomerantz Law Firm Investigates Claims on Behalf of Investors of Sonesta ...
MarketWatch (press release)November 3, 2011

... is investigating claims on behalf of investors of Sonesta International Hotels Corporation ("Sonesta" or the "Company") concerning the proposed acquisition of Sonesta by Sonesta Acquisition Corporation in a cash transaction valued at $174 million. ...more »

Debt Collection
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Banking wars
Greater Baton Rouge Business ReportNovember 1, 2011

Nor will a usage fee be a worry—for now—to Louisiana customers who have accounts at community banks.?Bank of Zachary President Preston Kennedy says financial institutions such as his currently are inoculated by the new law. Smaller banks, he says, ...more »

Public Offerings
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fired up over outages
Boston HeraldNovember 2, 2011

Scott Brown and Attorney General Martha Coakley told the Herald yesterday that they want answers from the state's power utilities as hundreds of thousands of chilly Bay Staters are looking at another day without electricity, heat and hot water. ...more »

Debt Settlement
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Better Business Bureau scam alert
Beaufort ObserverNovember 1, 2011

The Fair Debt Collection Practices Act prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from consumers. BBB has been alerted that consumers are receiving calls from scam artists who claim that there is a virus on ...more »

Reorganizations & Restructuring
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Judge Rejects Both Sides' Plans To Restructure Tribune
Contactmusic.comNovember 1, 2011

In a hefty, 126-page opinion in which he invoked the parable of the born enemies, a fox and a scorpion, who had to cooperate in order to cross a river, a federal bankruptcy judge on Monday rejected two proposals for reorganizing Tribune Co., ...more »

Directors' & Officers' Liability
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DST Systems Board of Directors Unanimously Reaffirms Commitment to Business ...
Sacramento BeeNovember 2, 2011

Certain material presented in the press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, ...more »

State & Minicipal Bonds
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DeWitt Ross & Stevens: Ranked First-Tier Best Law Firm in 25 practice areas
Wisbusiness.comNovember 1, 2011

... responses from thousands of law firm clients and lawyers across the country. Rankings are determined based on criteria such as expertise, responsiveness, cost-effectiveness, civility and whether a client or lawyer would refer business to a firm. ...more »

False Advertising
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For the Second Straight Year, Sidley Receives the Most First-Tier National ...
MarketWatch (press release)November 1, 2011

NEW YORK & CHICAGO, Nov 01, 2011 (BUSINESS WIRE) -- Repeating its performance in the inaugural USNews -- Best Lawyers "Best Law Firms" survey, Sidley Austin LLP has once again received more first-tier national rankings than any other US law firm, ...more »

Trade Associations
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Malaysia court rules against student politics ban
The AustralianNovember 1, 2011

Students have long campaigned for a repeal of the 1971 Universities and University Colleges Act (UUCA), which bars them from joining political parties and trade unions, saying the ban violates human rights and free speech. Malaysia's Court of Appeal ...more »

Federal Contracts
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CGI gets US$38-million contract renewal for US army reserve's logistics system
Winnipeg Free PressNovember 1, 2011

A) has been awarded a contract renewal worth US$38.36 million from the US Army Reserve Command. CGI Federal announced from Fairfax, Va., where the Montreal-based company has its US headquarters, will configure and test hardware and software and provide ...more »

Unfair Competition
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FCC Affirms Media Bureau Decision Against MSG In Program Access Complaints
Multichannel NewsNovember 11, 2011

The FCC said that it was an "unfair act" that "had the effect" of "significantly hindering the companies from providing a competing video service." The commission reaffirmed that finding Thursday, saying the bureau's decision was reasoned and proper, ...more »

Federal Grants
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In Defense of the Patriot Act
The National Interest OnlineNovember 1, 2011

The act grants authorities the right to search a home without notifying the owner for a period of days. But how long is enough? Russ Feingold favored seven days; Republicans in the House wanted 180 days. But there was little discussion of the grubby ...more »

Venture Capital
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The Daily Start-Up: VCs Deliver $35.5M For Delivery Agent
Wall Street Journal (blog)November 4, 2011

Too many start-ups or not enough venture capital? Roger Ehrenberg, founder of IA Ventures, considers the question. His take: “too many start-ups that are funded improperly and manage their burn incorrectly due to unrealistic expectations for the ...more »

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