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

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Local charity drops Catholic affiliation, will place kids with couples in ...
WPSD Local 6February 1, 2012

In June, Illinois lawmakers made it legal for same-sex couples to enter into civil unions, meaning they have the same rights as married couples. That includes the ability to become foster parents. With the new law came the stipulation that any ...more »

TripAdvisor reviews that can't be trusted: Website fails to vet comments, says ...
Daily MailFebruary 1, 2012

By Sean Poulter TripAdvisor can no longer claim to offer 'trusted and honest' reviews, the advertising watchdog has ruled. It said that because the world's biggest travel website does not vet its 50million users' comments, it cannot guarantee they are ...more »

Business Law News and Stories

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Kosmos Energy Securities Fraud Class Action Lawsuit Announced by Gilman Law...
MarketWatch (press release)February 1, 2012

Gilman Law specializes in cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration. Gilman Law, LLP Kenneth G. Gilman, Esq., 239-221-8301 ...more »

Foreign Investments
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IP: is MegaUpload the most important case you've never heard of?
ChiefOfficers.NetFebruary 1, 2012

If for nothing else, the Megaupload case is important for establishing the use of public officials to protect private, commercial, rights. The film, music and software industries are so vital to the USA's otherwise flagging economy that it has used ...more »

Antitrust Law, Domestic
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Gov. Sam Brownback says lawmakers were warned about open meetings law
Dodge City Daily GlobeFebruary 1, 2012

Sam Brownback's official residence did not violate the state's open meetings law because he was careful to admonish those attending to avoid discussing legislative business, Brownback's chief counsel said. Brownback invited Republicans from 13 ...more »

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Cocoa Beach spring break madness mollified
Florida TodayFebruary 4, 2012

A command presence of law enforcement on weekends and a beach ranger program that includes the use ATVs and radios. Amended city beach codes, including a trespass provision. A three-tier enforcement program that progresses from warnings to citations to ...more »

Gaming Law
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A casino on your computer?
The News JournalFebruary 5, 2012

When the US Department of Justice issued a relatively brief memorandum recently, it sent state officials, industry leaders and pundits scrambling to make sense of what could be a major step toward legal Internet gambling. Governments in a half-dozen ...more »

Banking Law
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Nevada AG questions national foreclosure deal
Las Vegas Review-JournalFebruary 1, 2012

By Chris Sieroty States have until Friday to decide whether to accept a proposed nationwide settlement of a foreclosure investigation involving Bank of America Corp. and JP Morgan Chase & Co, among others, that may be worth as much as $25 billion.more »

Government Construction Contracts
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Stephen Levin, Darlene Mealy and Christine Quinn. Dana Rubinstein
Capital New YorkFebruary 2, 2012

By Dana Rubinstein At a press conference to announce two bills that would make city government more transparent, City Council Speaker Christine Quinn obfuscated. To be precise, Quinn declined to take a position on a proposed reform of the state pension ...more »

Business Formation
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Pathfinder takes Mozambique mining skirmish to the General 1, 2012

Pathfinder Minerals, an Aim-listed natural resources company, mines heavy mineral sands on the coast of Mozambique. How very glamorous. Richard Alderman's Serious Fraud Office takes on mining complaint. Photo: Paul Grover By Anna White, ...more »

Institutional Investing
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Foreign direct investment falls 80%
Namibia EconomistFebruary 3, 2012

Dau-Pretorius said her ministry is working closely with the Bank of Namibia on studies regarding measures for improved re-investment of capital by foreign companies into the Namibian economy. She added that her ministry was drafting a new law that will ...more »

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2 NY conspiracy pleas in federal probe of the sub-prime mortgage securities market
Washington PostFebruary 1, 2012

Higgs said his crime began in 2007, when the real estate market began to deteriorate in the United States and the valuations of mortgage-backed securities faced significant reductions. The ensuing sub-prime mortgage crisis fueled the financial meltdown ...more »

Rule of law triumphs
Deccan HeraldFebruary 3, 2012

Henceforth, no govt can overlook the concept of 'trusteeship' while dealing with the country's natural resources. Ever since the 2G Spectrum scam broke out in 2010 and threatened to consume the UPA government, the dirty tricks department of the ...more »

Commercial Bankruptcy
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Kan. plan: Allow illegal immigrants to stay, work
Boston.comFebruary 1, 2012

The Kansas proposal also is notable because it complicates the debate over immigration issues in the home state of Kris Kobach, a former law professor who helped draft tough laws against illegal immigration in Alabama and Arizona.more »

Internal Investigative Services
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Seward & Kissel Nabs Pair Of Prominent Ex-Prosecutors
Law360 (subscription)February 1, 2012

By Ian Thoms Law360, New York (February 01, 2012, 1:21 PM ET) -- Hedge fund law firm Seward & Kissel LLP has hired two former federal prosecutors to lead its new government enforcement and internal investigations group in New York, the firm said ...more »

Commercial Leasing
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A fixed deal for fixed share partners
The LawyerFebruary 1, 2012

Today's decision is great news for law firms, particularly given the march of alternative business structures. Law firms will be run more like corporate entities when accepting outside capital and non-lawyers play a key role in law firm management ...more »

International Transactions
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New International British Virgin Islands Law Firm Launched
Law Firm Newswire (press release)February 1, 2012

In outlining the ethos behind Hempel and Boyd, Clinton explains: “We understand the support role played by the offshore lawyer in international transactions. We will not un-necessarily crowd the boardroom, or conference calls, or complicate ...more »

Communications & Media
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Kuwait elections to be fair, transparent - observers vow
Kuwait News AgencyFebruary 1, 2012

(With photos) KUWAIT, Feb 1 (KUNA) -- A few hours before the start of the parliamentary elections, Kuwaiti and international observers vowed Wednesday to do their best to render it successful, fair and free. In a press conference held at the 2012 ...more »

Payday lender embroiled in lawsuits
Chattanooga Times Free PressFebruary 5, 2012

by Ellis Smith A company involved in an unlicensed payday lending operation recently lost an early legal bid to silence some of its former employees. Terenine, which provides the IT backbone for a payday consortium controlled by former Rossville ...more »

Construction & Development
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Austin Car Accident Lawyer Says Texas Needs To Crack Down On Drunk Driving And ...
PR Web (press release)February 1, 2012

Texas personal injury attorney Bob Richardson of The Bob Richardson Law Firm points to recently released statistics showing that the state's drunk-driving fatalities have increased while the country's overall figures have gone down.more »

Locating Funds
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Teacher Fight Heating Up in Connecticut
Wall Street JournalFebruary 1, 2012

By SHELLY BANJO For years, Connecticut didn't adequately respond to a carrot held out by the federal government, failing to pass and implement strong enough laws to win hundreds of millions of dollars in Race to the Top education funding.more »

Contracts Involving State & Minicipality
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Quebec law allows for contracting loophole
Vancouver SunFebruary 2, 2012

The person also cannot be a director or officer of the company getting public contracts and cannot be personally convicted of specific tax-related criminal offences. That means there's a way for businesspeople who are in the crosshairs of Quebec's ...more »

Mergers, Acquisitions & Divestitures
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Nightingale Appoints Marc Filion to the Board of Directors
StockhouseFebruary 27, 2012

Mr. Filion has more than 20 years of experience in business leadership, turnaround, strategy, sales, negotiation, partnership, mergers, acquisitions and divestitures. He is currently the President of a management consulting firm, Vision 360, ...more »

Corporate Finance & Taxation
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Support for Palestinian Authority Erodes as Prices and Taxes Rise
New York TimesFebruary 1, 2012

The new tax laws are intended to increase the Palestinian Authority's revenues and reduce tax evasion, and are being coupled with austerity measures aimed at reducing expenditure, said Ghassan Khatib, a government spokesman.more »

Mortgages & Foreclosures
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The University of Detroit Mercy School of Law has purchased a vacant, former ...
Detroit Free PressFebruary 1, 2012

Last year, UDM provided assistance for more than 1450 people in its various clinics, including Urban Law, Immigration and Asylum, Mediation, Consumer Defense, and Mortgage Foreclosure. The school plans to open the new facility in December 2012.more »

Creditor's Rights
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MF Global, Malev, Irish-Welsh Sea Ferry, Manroland: Bankruptcy
BusinessWeekFebruary 2, 2012

Hungarian national airline Malev Zrt., weighed down by debts of 60 billion forint ($271 million), no longer has control over its own spending plans after a court appointed a bankruptcy trustee to oversee the company. Outgoing payments must be approved ...more »

Non-Profit Corporations
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Movers & Shakers for Feb. 5, 2012
MetroWest Daily NewsFebruary 5, 2012

Atkins graduated magna cum laude from Boston College Law School and holds a master's degree in public administration from Harvard University's John F. Kennedy School of Government and a bachelor's degree from Georgetown University, where he graduated ...more »

Customs Disputes
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Signs action call amid fears over road safety
Hawick TodayFebruary 1, 2012

... which is causing disputes due to the road signs. ROAD signs leading onto North Bridge Roundabout are causing “frustration”. A complaint has been received from the Hawick Driving Instructors' Association about the signs leading from Commercial Road, ...more »

Professional Corporations
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Nine companies sued over "exclusive forum" bylaws
ReutersFebruary 8, 2012

Shareholders have resisted being forced to bring claims for breach of fiduciary duties and other matters of Delaware corporate law in the state's Chancery Court, which is often perceived as being overly protective of management at the expense of ...more »

Debt Collection
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RI gov seeking nearly $400K in supplemental funds for Central Falls receiver ...
Washington PostFebruary 1, 2012

PROVIDENCE, RI — The cost of the state-appointed receiver and legal fees related to bankruptcy proceedings in the Rhode Island city of Central Falls is nearly $400000 more this fiscal year than budgeted, and the total spent on the receivership is ...more »

Public Offerings
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Leagle.comFebruary 7, 2012

Natalie A. Schmid Drummond, Deputy Attorney General, argued the cause on behalf of amicus curiae Attorney General of New Jersey (Paula T. Dow, Attorney General, attorney). JUSTICE LaVECCHIA delivered the opinion of the Court.more »

Debt Settlement
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Goldman Fund Plans Fight Over Hancock
Wall Street JournalFebruary 1, 2012

9 some $400 million in debt that they put on the John Hancock Center after they purchased the 100-story tower in 2007. But a default is likely because the owners haven't been able to sell or refinance for that amount.more »

Reorganizations & Restructuring
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Vitro to Proceed Promptly With Restructuring Under Court Approved Concurso Plan
MarketWatch (press release)February 9, 2012

Hugo A. Lara Garcia, Vitro's Chief Executive Officer, said "We look forward to completing Vitro's reorganization on the terms approved by the Court, and will continue to work diligently, as we have for the past months, to complete the reorganization as ...more »

Directors' & Officers' Liability
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Arrow Electronics Reports Record 2011 Non-GAAP EPS Increased 26% Year over ...
MarketWatch (press release)February 1, 2012

"We again reported industry-leading earnings per share, returns, and operating margins in the fourth quarter and full year 2011," said Paul J. Reilly, executive vice president, finance and operations and chief financial officer.more »

State & Minicipal Bonds
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Netflix says Congress can help bring Facebook app to US
Chicago TribuneFebruary 1, 2012

It's also to Netflix business partners and it's also potentially to law enforcement," Rotenberg said of the House bill's broader implications. Lawmakers also took issue with how the House bill would amend the Video Privacy Protection Act. Senator ...more »

False Advertising
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Moneyville Calgary Home Show Giveaway Rules
Toronto StarFebruary 1, 2012

Agreement: These rules govern the Moneyville Calgary Home Show Giveaway (“Contest”). No purchase is necessary to enter the Contest. The act of entering the Contest constitutes acceptance of the Contest rules and the decisions of the Contest judges, ...more »

Trade Associations
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The two sides of oversharing: online piracy and Google's nosiness
Montreal GazetteFebruary 4, 2012

These bills are packed with short, stocky words that intend to act as short, stocky cyber-bodyguards to protect the interests of those who propose them. Their objective is to do the opposite of what the web has been lauded for - that is, ...more »

Federal Contracts
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Area jobless rate dipped in December as hiring increased
Washington PostFebruary 1, 2012

Facing the threat of federal cutbacks, contracting firms are particularly interested in hiring people who can secure contracts from outside the government, Beebe said, and thus have beem filling positions such as director of business development and ...more »

Unfair Competition
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“West F*** Virginia” and University Color Scheme Trademark Protection
American University Intellectual Property BriefFebruary 6, 2012

While the complaint is couched in terms of trademark infringement, trademark dilution, and unfair competition, it speaks mainly to an issue that only exists in the United States: the regulation of the college sports business.more »

Federal Grants
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Supreme Court order a signal to stop misuse of sanction power
Daily MailFebruary 1, 2012

By Mail Today Reporter There seems no end to the embarrassment that the United Progressive Alliance government has had to face on account of the 2G spectrum scam. The Supreme Court's order of Tuesday stating that Janata Party leader Subramanian Swamy ...more »

Venture Capital
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Facebook IPO gives venture capital industry a boost
Euromoney MagazineFebruary 3, 2012

But it is also good news for the venture capital industry – and California's economy. The Silicon Valley Venture Capitalist Confidence Index, released on Wednesday, showed a continued decline in confidence in the fourth quarter last year, but industry ...more »


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