Business Law News. Crime Stories, Law on News and Legal Publications in April, 2012

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Check crowdfunding investments carefully; pitfalls abound
Palm Beach Daily NewsApril 1, 2012

However, crowdfunding is about to take on a new dimension in the world of investing. Federal legislation at this writing was being finalized to let small companies issue stock with significantly limited registration and disclosure requirements.more »

Cops sensitized to elders' woes
Times of IndiaApril 1, 2012

BANGALORE: Senior citizen Mandakini's son allegedly threatened her every day and would physically abuse her, forcing her to transfer her property to him. She called the Elders' Helpline, which in turn issued a notice to the son.more »

Business Law News and Stories

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Reich: Political jujitsu to save health care law
San Francisco ChronicleApril 1, 2012

If the Supreme Court decides that the individual mandate requiring everyone to buy health insurance is an unconstitutional extension of federal authority, the law starts unraveling. But with a bit of political jujitsu, President Obama could turn that ...more »

Federal Grants
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N.J. stands ground on deadly force
Asbury Park PressApril 1, 2012

For one thing, New Jersey only in rare circumstances grants permits to private citizens to carry concealed weapons, they say. Secondly, New Jersey does not have a so-called “Stand Your Ground'' law, as Florida does, and it requires a person to retreat ...more »

Antitrust Law, Domestic
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Faruqi & Faruqi, LLP Is Investigating Green Mountain Coffee Roasters, Inc. on ...
MarketWatch (press release)April 2, 2012

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, ...more »

Foreign Investments
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Free Trade Zone: Oyinlola's Commissioner, Contractors Arrested Over $1m Fraud
Osun DefenderApril 2, 2012

The letter read in part: “It has been discovered that the sum of $1000000 paid by the state government into the account of Riverbanks Trade Investments Limited had since been misappropriated and fraudulently converted by the signatories to the account ...more »

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Taxpayer group urges Bonita council to take control of all BSU rate increases
Naples Daily NewsApril 2, 2012

BONITA SPRINGS — A Bonita Springs political action group contends it's time for the City Council to make revisions to the Bonita Springs Utilities Inc. franchise agreement so that the city has oversight on any proposed rate increase.more »

Banking Law
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Money-Market Funds Should Kick Their Buck-a-Share Habit
BloombergApril 1, 2012

Money-market funds, like their Wall Street banking kin, are learning how to fend off new regulations meant to prevent a replay of the financial crisis of 2008. One fund company, Federated Investors Inc., is even threatening to sue.more »

Gaming Law
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Vikings stadium: Dayton says new state funding deal with charities may be illegal
Pioneer PressApril 2, 2012

Sports-themed tipboards are not allowed under federal law, Dayton said. The new plan would allow charities to offer such games, which would raise an estimated $16 million in tax revenue per year. In a tipboard game, players purchase a number that pays ...more »

Business Formation
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Signs of Supreme Court activism worry Reagan administration lawyers
Los Angeles TimesApril 1, 2012

If so, it would be the first time since 1936 that the Supreme Court voided a major federal regulatory law. After the healthcare arguments, Fried was among those who worried aloud about the prospect of the Roberts court embarking on a new era of ...more »

Government Construction Contracts
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Federal government deems Attawapiskat third-party manager a success, band ...
National PostApril 6, 2012

By Bradley Bouzane The federal government will remove the third-party manager who was in control of finances in the northern Ontario First Nations community of Attawapiskat. The letter, addressed Thursday to Attawapiskat Chief Theresa Spence from ...more »

Business Law
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AZ business groups root for justices to strike down health-care law
Arizona Daily StarApril 1, 2012

PHOENIX — Businesses and business organizations in Arizona have widely come out in opposition to the health care law argued before the US Supreme Court last week, arguing that its provisions will increase costs. “It's about getting the health coverage ...more »

Institutional Investing
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R-Power to invest over Rs 6000 cr in Rajasthan
Chandigarh TribuneApril 1, 2012

(b) You are not obliged to invest Rs 1 lakh in tax- saving schemes as you are not liable to pay tax in case your total income does not exceed Rs 5 lakh. (c) You are not required to file your return of income for the financial year 2012-13. (d) The law...more »

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Shane Filan's High Court debt battle: Bank of Ireland sues Westlife star who ...
Daily MailApril 1, 2012

Documents lodged in the High Court show that BoI is pursuing cases against the star and two members of his family, Finbarr and Peter. BoI was one of several banks that helped fund Shane's massive property speculations during the boom, which aimed to ...more »

Andrea Sneiderman goes after in-laws in visitation squabble
Atlanta Journal ConstitutionApril 18, 2012

Jason Getz, The parents of victim Rusty Sneiderman, Don and Marilyn Sneiderman get emotional as they listen to their son Steven Sneiderman speak on behalf of the family to members of the media after the Hemy Neuman trial in the DeKalb ...more »

Commercial Bankruptcy
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Battery, tech costs sap power of green car market
Crain's Detroit BusinessApril 2, 2012

... turmoil in Europe -- caused the converter of commercial vans to delay its public offering. Last week, the Ontario Securities Commission denied an additional stock offering by Azure, and the company filed for bankruptcy protection in Canada.more »

Internal Investigative Services
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Rigrodsky & Long, P.A. Announces an Investigation of Groupon, Inc. for ...
MarketWatch (press release)April 2, 2012

... Apr 02, 2012 (BUSINESS WIRE) -- Rigrodsky & Long, PA announces that it has initiated an investigation of Groupon, Inc. ((eqnx:)Groupon(eqnx:) or the (eqnx:)Company(eqnx:)) (NasdaqGS: GRPN) for possible violations of the federal securities laws.more »

Commercial Leasing
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Jones Lang LaSalle helps manufacturer lease 51000 square feet in Minnesota
REjournals.comApril 3, 2012

Nystrom, Inc., a manufacturer of commercial building products, recently completed a lease expansion and relocation totaling about 51000 square feet of manufacturing space in Brooklyn Park, Minn. Jones Lang LaSalle provided tenant representation ...more »

International Transactions
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Woman nabbed at DIA in suspected credit-card theft
Aspen TimesApril 5, 2012

A Peruvian woman who allegedly went on a spending spree in Aspen using her friend's credit card was apprehended Tuesday at Denver International Airport moments before she was to board a flight to her home country, law-enforcement officials said.more »

Communications & Media
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Executive Moves: April 2, 2012
Crain's New York BusinessApril 1, 2012

Jack Trachtenberg, 34, joined the law firm as counsel in the state and local tax practice. He was previously New York Department of Taxation and Finance deputy commissioner and taxpayer rights advocate. April Pottorff, 45, was promoted to principal at ...more »

Becker Acquires Falcon Physician Reviews
MarketWatch (press release)April 3, 2012

“We share a similar culture and philosophy of providing high-quality offerings that fit the needs of our students and prepare them for licensure exams that are essential to their success.” The law firm of Reed Smith served as DeVry's Inc.'s legal ...more »

Construction & Development
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NY lawyer David Anziska plans to sue Western New England University, other law...
MassLive.comApril 1, 2012

By Boston Business Journal By LISA van der POOL For newly minted lawyers, nabbing that first job has grown extraordinarily difficult since law firms slashed ranks during the recession. The legal community's question du jour is: Does that give jobless ...more »

Locating Funds
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Old laws thwarting Jacksonville City Council changes in capital improvement plan
Florida Times-UnionApril 2, 2012

But discovering a decades-old city law limits their freedom to pursue big projects — usually paid for through debt — could test how far that commitment reaches. At issue is legislation introduced last week, in the wake of a tight vote against ...more »

Contracts Involving State & Minicipality
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Minn. Senate saga to cost public win, lose or draw
Coshocton TribuneApril 1, 2012

(WTW) — Legal costs are mounting at the public's expense even before former high-ranking state Senate staffer Michael Brodkorb sues over his dismissal. The Senate has hired an outside attorney to protect the institution's interest and defuse fallout ...more »

Mergers, Acquisitions & Divestitures
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Steve Wellington to Join Evercore as a Senior Managing Director in Europe
MarketWatch (press release)April 17, 2012

Evercore's Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high ...more »

Controlled Substances Law
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Crackdown on prescription pain killers widens to Walgreens
Baltimore SunApril 6, 2012

Under the US Controlled Substances Act, a warrant may be issued for "valid public interest" and without the type of probable cause needed under criminal law, according to the warrant filed in US District Court, Middle District of Florida.more »

Mortgages & Foreclosures
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Inside the foreclosure factory: Pushing the files (blog)April 19, 2012

Investigators at the Department of Housing and Urban Development, who are charged with finding "waste fraud and abuse" among lenders filing claims for payment when a federally-insured mortgage defaults, checked into problems at all five big banks after ...more »

Corporate Finance & Taxation
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Govt orders legislators to pay tax on new cars
Daily MonitorApril 1, 2012

The dispute comes after Ministry of Finance ordered Uganda Revenue Authority (URA) to demand Shs46m from each MP as taxes on the Shs103m they received from government to buy new vehicles. The decision has angered lawmakers across the political divide ...more »

Non-Profit Corporations
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Boycotts Hitting Group Behind 'Stand Your Ground'
WUSF NewsApril 6, 2012

Common Cause, a nonprofit citizens lobbying group, is also part of the campaign calling on corporate members to end their partnership with ALEC. Some of the most controversial ALEC efforts are good examples of how the organization works.more »

Creditor's Rights
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Hungarian president resigns in wake of plagiarism scandal over his doctorate ...
Washington PostApril 2, 2012

The European Union, which Hungary joined in 2004, has launched legal proceedings against Hungary because it believes that Orban's coalition, which has an unassailable two-thirds majority in Parliament, is compromising democratic principles such as the ...more »

Professional Corporations
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Corporations Learn That ALEC Is Bad for Business
Huffington Post (blog)April 6, 2012

... far-right legislation to pro-corporate lawmakers across the country. Those lawmakers, in turn, have been turning bills adopted by ALEC into law -- sometimes even forgetting to remove ALEC's name from the text before it's introduced.more »

Customs Disputes
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Workers to get more shares at work under plan to slash red tape for employee ...
This is MoneyApril 1, 2012

Whitehall advisers have urged the Treasury to slim down the rules governing the schemes, removing the need for companies to get approval from Revenue & Customs. The report of the Office of Tax Simplification's proposals chime with the call in January ...more »

Public Offerings
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AG: Merger, settlement agreement win approval
ShorelinePlus.comApril 2, 2012

The Attorney General, the Consumer Counsel, and the companies, with guidance from Governor Malloy and the assistance of Commissioner of Energy and Environmental Protection Dan Esty and his staff, crafted a landmark settlement that assures the public...more »

Debt Collection
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Financial crisis leaves familiar telltale signs
The Seattle TimesApril 1, 2012

No, it was caused by Fannie and Freddie and the federal government forcing banks to give mortgages to the poor and minorities. A new deregulation measure with great potential for mischief, the JOBS Act, is headed for President Obama's signature.more »

Reorganizations & Restructuring
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TMA Turns Spotlight on High-Achieving Chapters and Volunteers
Sacramento BeeApril 4, 2012

... corporate restructuring law. The chapter launched bimonthly education seminars, introduced a certification course based on the TMA Body of Knowledge courses and created an industry database for statistics pertaining to in-court reorganizations.more »

Debt Settlement
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Clarity Is Key When Negotiating with Investors
ReadWriteWebApril 2, 2012

To make sure that doesn't happen - and help startups avoid costly lawsuits (another instance where the only people who get rich are the lawyers) I asked Anton Rosandic, a California-based attorney and an entrepreneur himself, for some free advice.more »

State & Minicipal Bonds
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'Monkey' business, again, in Tennessee
Los Angeles TimesApril 1, 2012

(Erik Schelzig / AP Photo / March 30, 2012) Among its more dubious claims to fame, Tennessee was the site of the 1925 "Monkey Trial," in which John Scopes was convicted of violating a state law against teaching that "man has descended from a lower ...more »

Directors' & Officers' Liability
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Talking turkey and Duck trams
The Register-GuardApril 1, 2012

Answer: In 1947, when then-University of Oregon Athletic Director Leo Harris struck a handshake deal with Walt Disney for the rights to use Donald Duck as the university's mascot, a new road was being built off Willamette Street in south Eugene.more »

Trade Associations
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Wine lovers protest provincial border rules
CBC.caApril 3, 2012

"Dealing with outdated laws and making sure we basically set our businesses free is something that's very important," he said. There are roadblocks. While trade between provinces is a federal responsibility, liquor sales themselves are regulated by the ...more »

False Advertising
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Washington is First State to Take On Escort Sites
New York TimesApril 2, 2012

When one of the men who raped her was sentenced in February, one of the exhibits that prosecutors used was an advertisement selling her services as an escort on The ad said she was 18. That same month, the Washington Legislature was ...more »

Unfair Competition
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BASE METALS - European Morning View - Metals get some lift as official PMI ...
FXstreet.comApril 2, 2012

It is also likely to remain the case now that we are in the seasonally strong second quarter. On balance we feel prices are likely to consolidate as the lower levels from last week do seem to be attracting some buying. Today's PMI data is likely to be ...more »

Federal Contracts
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Harris Corporation Awarded $49 Million IDIQ Contract to Provide Unity ...
MarketWatch (press release)April 2, 2012

Harris Corporation (NYSE:HRS) , an international communications and information technology company, has received a $49 million indefinite delivery, indefinite quantity (IDIQ) contract to provide Harris Unity® land mobile radios for the US Marine Corps' ...more »

Venture Capital
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Inland Real Reports JV Purchase Of 2 Grocery-Anchored Properties In Wisconsin
NASDAQApril 2, 2012

(IRC) said it has contributed $33.0 million to its joint venture with Inland Private Capital Corp. or IPCC to buy two retail properties in Wisconsin. The joint venture purchased a neighborhood shopping center anchored by a Pick 'n Save grocery located ...more »


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