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

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Why Contain Iran When Its Own Aims Will Do Just That?: Vali Nasr
BusinessWeekNovember 1, 2011

Even while claiming nefarious outsiders are fomenting the unrest in Syria, they have begun to add veiled criticisms of the regime's brutal crackdown, an obvious means of pandering to the street. What's more, Iran's leaders perceive that it is the US ...more »

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 »

Business Law News and Stories

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Kindle Fire Official Sweepstakes Rules
Business InsiderNovember 1, 2011

Void where prohibited or restricted by law and subject to all applicable federal, state, provincial, local and municipal laws and regulations. ONE (1) GRAND PRIZE: One sweeps winner will receive an Amazon Kindle Fire pre-loaded with Business Insider's ...more »

Foreign Investments
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THL Credit Closes Two New Investments
MarketWatch (press release)November 1, 2011

THL Credit Greenway Fund LLC, THL Credit's managed fund, also invested in each of these transactions. THL Credit invested in the senior secured notes and equity of ATAC to recapitalize the company and provide expansion capital. ...more »

Antitrust Law, Domestic
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Eighth Circuit Upholds Negotiations as Primary Labor Dispute Forum
JURISTNovember 2, 2011

Given that both parties have been under a collective bargaining relationship for the past 18 years, the fact that the players chose to pursue antitrust laws over collective bargaining did not erase their labor relationship with the league. ...more »

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Upside Group President Mario Altiery Featured in Newest Franchise World ...
PR Web (press release)November 2, 2011

This overarching theme works to emphasize the importance of relationships for not only franchises, but for businesses as a whole. Altiery's “Five Steps” range from determining key expectations to tips on staying the course of a business' franchise...more »

Gaming Law
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Editorial: More secrecy on casinos
Milford Daily NewsNovember 3, 2011

By Anonymous After years of debate, legislation legalizing casino gambling in Massachusetts is on the threshold of becoming law. The House and Senate have passed separate bills, by large margins. A conference committee is now charged with resolving the ...more »

Banking Law
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Ameriana Bancorp Reports Third Quarter Net Income of $298000, or $0.10 Per Share
MarketWatch (press release)November 1, 2011

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially ...more »

Government Construction Contracts
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Bunker bunker time: Zuma's lavish Nkandla upgrade
Mail & Guardian OnlineNovember 11, 2011

Nene, whose company Bonelena Construction is responsible for renovations to President Jacob Zuma's homestead in Nkandla, has managed to clinch provincial government contracts worth just more than R453-million through this company alone. ...more »

Business Formation
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Madoff's Wife and Surviving Son Say They Were Unaware of $65 Billion Fraud
BloombergNovember 1, 2011

The brothers both worked for the legitimate, market-making side of their father's business. After his arrest, both said they had no knowledge of the fraud he ran for decades until the day he confessed it to them. That day, the brothers sought legal ...more »

Institutional Investing
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Stanford law professors submit proposed initiative to limit Three Strikes Law
San Jose Mercury NewsNovember 2, 2011

But the group has secured at least one major financial backer, David W. Mills, a former investment banker and Stanford Law School professor. It also hired San Francisco political consultants Newman and Averell "Ace" Smith to lead what is expected to be ...more »

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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of ...
MarketWatch (press release)November 1, 2011

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that ...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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Hiring of lawyers is rising slowly, survey shows | Philadelphia Inquirer ...
Philadelphia InquirerNovember 1, 2011

The demand is for lawyers with several years of experience in litigation, commercial transactions and health care, reflecting a modest uptick in work in those practice areas, the survey said. "Signs of a tightening talent market are becoming more ...more »

Internal Investigative Services
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White House To Face Subpoenas On Solyndra
KPRC HoustonNovember 3, 2011

The House Energy and Commerce Committee's subcommittee on oversight and investigations voted 14 to 9 in favor of issuing the subpoenas for internal documents regarding the decision to issue more than half a billion dollars in federal loan guarantees in ...more »

Commercial Leasing
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CIT Appoints Vincent Belcastro Group Head Of CIT Capital Equipment Finance (press release)November 1, 2011

... Group Head of CIT Commercial & Industrial. “CIT has a long history as being a leader in middle market equipment financing,” said Mr. Belcastro. “Our team will provide financial solutions for the purchase and lease of large ticket equipment, ...more »

International Transactions
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International Transactions Lawyer Neil Foster Joins Baker Botts in London
PR Newswire (press release)November 1, 2011

Foster is ranked by Chambers as a "leading individual" for M&A transactions. Baker Botts is an international law firm with over 725 lawyers and a network of 13 offices around the globe. Based on our experience and knowledge of our clients' industries, ...more »

Communications & Media
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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 »

City of Cupertino tightening rules on tobacco retailers, licensing
San Jose Mercury NewsNovember 3, 2011

State law already prohibits the sale of cigarettes, tobacco products and smoking paraphernalia to minors, and tobacco retailers must check the identification of tobacco purchasers who reasonably appear to be under 18 years of age. ...more »

Construction & Development
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UPDATE 1-Skanska Q3 tops fcast, sees uncertainty ahead
ReutersNovember 3, 2011

The prevailing general uncertainty about macroeconomic developments may, however, affect future construction investments," it said. The group said the overall construction market was stable although residential construction was weakening, especially in ...more »

Locating Funds
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Bill seeks to strengthen, allot more funds for Aids law
Sun.StarNovember 4, 2011

A PARTY-LIST lawmaker is calling on the House leadership to swiftly approve a bill that would strengthen and allot more funds for the country's Acquired Immune Deficiency Syndrome (Aids) law. The proposed legislation filed by LPG/MA party-list ...more »

Contracts Involving State & Minicipality
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Hiring of lawyers is rising slowly, survey shows
Philadelphia InquirerNovember 1, 2011

Lawyers responding to the Robert Half survey said they expected general business and commercial law and litigation to experience the greatest growth over the next three years, followed by health care and labor and employment. ...more »

Mergers, Acquisitions & Divestitures
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Nalco Reports Strong Double-Digit Third-Quarter Sales and EPS Growth; Raised ...
MarketWatch (press release)November 2, 2011

... rate changes and acquisitions and divestitures. (2) Excluding impact of one-time sales of dispersant products used for the Gulf of Mexico emergency response in 2010. (3) Operating earnings adjusted for restructuring expenses and unusual items. ...more »

Corporate Finance & Taxation
[read all news] Offers First Heavy HGWY Tax iPhone App
PR Newswire (press release)November 1, 2011

After months of wait, the Excise Tax Law passed both the House and the Senate and was signed by the President. It extends the Heavy Vehicle Usage Tax until September 30, 2012. A full year Form 2290 for the tax period of July 1, 2011 through June 30, ...more »

Mortgages & Foreclosures
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Will a law without resources solve problem of foreclosure blight in San Diego?
San Diego CityBEATNovember 2, 2011

Since implementing its foreclosure ordinance in 2008—a law that's been held up as a model—Chula Vista's been able to hire five additional code-enforcement officers from fee and fine revenue, said Corinne Wilson, the CPI researcher who authored the ...more »

Creditor's Rights
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Judge rejects both reorganization plans for Tribune
Crain's Chicago BusinessNovember 1, 2011

LP Hedge fund Aurelius Capital Management LP, which bought Tribune debt on the market, and creditor trustees Deutsche Bank & Trust Co., Law Debenture Trust Co. of New York and Wilmington Trust Co. backed the rival plan. These creditors held debt issued ...more »

Non-Profit Corporations
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Oklahoma Legislative panel hears of skyrocketing telephone, cellphone fees
NewsOK.comNovember 4, 2011

State law requires the Corporation Commission to approve the amount of Internet and telephone service used by eligible entities, which mostly include rural nonprofit medical centers, public schools and libraries, said Corporation Commission Chairwoman ...more »

Customs Disputes
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Good Intentions Gone Wrong? Lacey Act Lessons from the Gibson Guitar Raid
Pallet EnterpriseNovember 1, 2011

Lesson #5: “Due care” under Lacey is in the eye of the 'E. Holder' The Lacey Act requires importers and manufacturers to take due care to insure the wood they buy and use meets all international laws. What constitutes “due care,” however, ...more »

Professional Corporations
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Jon Corzine steps down at collapsed MF Global, hires lawyer
Economic TimesNovember 5, 2011

The FBI is examining whether the firm's actions amounted to a crime, two people familiar with the situation told The Associated Press. They spoke on condition of anonymity because they were not authorized to discuss the matter publicly. ...more »

Debt Collection
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'Robo-Signing' Prompts New Foreclosure Reviews
Wall Street Journal (blog)November 1, 2011

... thrust into foreclosure in violation of a federal law that bans such actions. Democrats on Capitol Hill and consumer advocates have questioned the regulators' decision to allow banks to hire their own consultants to conduct foreclosure reviews. ...more »

Public Offerings
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Attorney General Linda Kelly
Centre Daily TimesNovember 7, 2011

Attorney General Linda Kelly— whose office, along with state police, Saturday announced the criminal charges against Jerry Sandusky, Tim Curley and Gary Schultz — was sworn in as the state attorney general on May 27. She was nominated by now-Gov. ...more »

Debt Settlement
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San Diego Bankruptcy Lawyers Offering Free Initial Consultation to Growing ...
PR Web (press release)November 1, 2011

The San Diego bankruptcy lawyers at the law firm of the Golden State Law Group hereby announce that the firm is offering a free initial consultation to the growing number of seniors who may need bankruptcy protection based on statistics provided by the ...more »

Reorganizations & Restructuring
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ELEKTROBIT CORP: Eb, elektrobit corporation, interim report, january-septe..
4-traders (press release)November 1, 2011

It is possible that, based on later information related to reorganizations of TerreStar Networks and TerreStar Corporation, this outlook may need to be reconsidered. Due to the uncertainties related to the outcome of reorganization processes of ...more »

Directors' & Officers' Liability
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"Best Law Firms" Rankings by US News and Best Lawyers® Lists Gair, Gair ...
MarketWatch (press release)November 1, 2011

The firm also ranked in the top tier in five legal specialties in the New York City Metropolitan Area in Legal Malpractice, Medical Malpractice, Personal Injury Litigation, Product Liability Litigation and Professional Malpractice Law. ...more »

State & Minicipal Bonds
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Butler Rubin Named Among Best Law Firms in US News Media Group and Best ...
MarketWatch (press release)November 1, 2011

US News also ranked Butler Rubin as a Tier 2 "Best Law Firm" in the areas of arbitration, commercial litigation and bankruptcy/reorganization. Best Lawyers named eight Butler Rubin attorneys as leaders in their fields: Louis J. Aurichio (Insurance Law) ...more »

False Advertising
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Ad war: GOP contenders take advertising contest from Internet to airwaves
KVUENovember 1, 2011

Ellett says Internet advertising allows companies to target a much more select audience that may be interested in what they have to offer, and the best marketing campaigns use both broadcast and Internet approaches together. "Yesterday there were about ...more »

Trade Associations
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Q+A-What issues are at stake in the EU-U.S. carbon spat?
ReutersNovember 2, 2011

It declared illegal the EU plan to make all flights buy carbon permits under the EU Emissions Trading Scheme (EU-ETS) from January 1 to offset their emissions. The proposed US legislation could mark the beginning of a trade war, analysts and lawyers ...more »

Federal Contracts
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Accountable Care Organization Regulations - The ACO is a Camel, Not a Unicorn
JD Supra (press release)November 2, 2011

Commercial insurance companies have already deployed ACO-like approaches to contracting with their provider networks, stepping away from traditional fee-for-service payment and towards pay for performance. These changes in reimbursement will drive ...more »

Unfair Competition
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Michigan TPA Code of Conduct Bill Moves Forward
glassBYTEsNovember 3, 2011

"The issue for small business is unfair competition by exclusive contracting," says NFIB state director Charlie Owens. "The vast majority of auto glass replacement and repair is paid for by auto insurance companies. When a single entity or group of ...more »

Federal Grants
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Approval of interim chief's contract on council agenda
InMaricopa.comNovember 1, 2011

3.3 The Mayor and City Council shall hear a presentation by Grants Manager Mary Witkofski on proposed changes to the Maricopa Non Profit Funding Program. 3.4 The Mayor and City Council shall hear a presentation by Fire Division Chief Mark Boys on Long ...more »

Venture Capital
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Venture Capital Comes of Age in Europe
msnbc.comNovember 7, 2011

Unlike in the US, venture capital on the other side of the Atlantic is a relatively young industry. It had an inglorious and stuttering start in the 1980s, often as an extension of the activities of conventional banks or as a limited ...more »


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