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

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Southaven investigation halts city business
WMC-TVFebruary 1, 2012

SOUTHAVEN, MS- (WMC-TV) – After saying he would not step down, Southaven Mayor Gregg Davis was at work Tuesday while the investigation into his spending has put all city business on hold. When state and federal law enforcement agencies honed in on ...more »

Congress manifesto stresses on development
Times of IndiaFebruary 1, 2012

If voted to power, Congress would lay emphasis on improving the poor law and order situation in the state by making police stations accessible to every citizen and setting up one mahila police station in each district, she added.more »

Business Law News and Stories

Advertising
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MADD Supports Chairman Mica and Legislation to Reauthorize the Nation's ...
Sacramento BeeFebruary 1, 2012

It also continues critical paid-ad funding for the annual law enforcement crackdowns on drunk driving and seatbelt use. MADD also called on Congress to further enhance the measure's safety provisions by including funding for the Driver Alcohol ...more »

Foreign Investments
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Romney took years after promising to sell investments inconsistent with ...
Washington PostFebruary 2, 2012

“Financially, these would seem to be completely legitimate investments,” said Thomas B. Cooke, a professor of business law at Georgetown University and former president of the National Society of Tax Professionals. “But for someone running for ...more »

Antitrust Law, Domestic
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Exchanges deal failure to open up futures market
ReutersFebruary 1, 2012

It was such antitrust concerns that were behind the European Commission's decision to block the planned merger, leaving the exchanges' effective duopoly in place. But this status quo looks set to change as Europe's regulators, issues raised by the ...more »

Franchising
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Board directs attorney to draft measure granting CUP for new pool, darts tavern
Call NewspapersFebruary 1, 2012

The Board of Aldermen voted 7-0 to have City Attorney Rob Golterman draft an ordinance approving the CUP. Ward 1 Alderman Mimi Duncan abstained from the Jan. 24 vote. During a public hearing, a representative of Crestview Senior Living voiced concerns ...more »

Gaming Law
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Casino developer seeks injunction over preference for Indian tribe
Boston GlobeFebruary 1, 2012

The law “is not keeping KG Urban from being able to apply,'' said Kenneth Salinger, assistant attorney general, representing the state. “Nobody can apply.'' At issue in the case is language in the casino law that forestalls open bidding for a ...more »

Banking Law
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Credit Suisse, Standard, BAA, Glaxo, AIG, Apple in Court News
BloombergFebruary 2, 2012

Standard Life Wins $157 Million Insurance Suit Over Lehman Loss Standard Life Plc (SL/) won a 100 million pound ($157 million) case over whether insurers, including ACE European Group Ltd., had to pay for losses on asset-backed securities after the ...more »

Government Construction Contracts
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Urban Renewal Policy Makes Nasarawa Construction Hub
Leadership NewspapersFebruary 5, 2012

The urban renewal policy of the Nasarawa state government has turned Lafia, the state capital into a huge construction yard, as scores of road construction are going on simultaneously. The governor of the state, Tanko Al-Makura, had during the hay days ...more »

Business Formation
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US Plans Charges on Bond Fraud
Wall Street JournalFebruary 1, 2012

The Manhattan US Attorney's office is planning to allege in a criminal complaint that several former traders at Credit Suisse Group AG, a major global investment bank, misled the bank's investors by booking inflated prices of mortgage bonds to boost ...more »

Institutional Investing
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Congressman Pascrell's FIRE Act Delivers $265950 To The Nutley Fire Department
ParamusPost.comFebruary 2, 2012

“The FIRE Act was written here in northern New Jersey with the purpose of helping communities like Nutley support their first responders. For too long, the federal government turned a deaf ear to the pressing needs of fire departments. This grant...more »

Commercial
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Sansom businesses rejoice end of Law School construction
The Daily PennsylvanianFebruary 1, 2012

By Huizhong Wu · January 31, 2012, 8:23 pm Some business owners on Sansom Street will heave a sigh of relief when the construction trucks drive away from Golkin Hall for the final time. The Law School's Golkin Hall — which opened Jan.more »

Making the law an 'ass' in Kogi
BusinessDayFebruary 1, 2012

Following the Supreme Court ruling last Friday sacking five governors, various shades of interests had moved swiftly to make a huge capital out of the legal pronouncement. Although five states (Adamawa, Cross River, Sokoto, Bayelsa and Kogi) lost their ...more »

Commercial Bankruptcy
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Don't Trust, Verify
CFO.com MagazineFebruary 1, 2012

For the most part, executives understand the point of the 34-year-old law and have designed compliance programs to minimize the risk of their company or business partners violating the FCPA. Yet, straightforward as such compliance may sound, ...more »

Internal Investigative Services
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'Express haj' gang under investigation
AsiaOneFebruary 6, 2012

"The management became aware of the illegal activities three years ago and an internal investigation was launched. Following the probe, we have identified the culprits inside Tabung Haji and action had been taken," Anis said without disclosing the type ...more »

Commercial Leasing
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Palike to reclaim Clarence School playground
Deccan HeraldFebruary 1, 2012

The Bruhat Bangalore Mahanagara Palike will take legal measures to reclaim the Clarence School playground. Commissioner M K Shankaralinge Gowda, while replying to a discussion on the issue in the Council meeting on Tuesday, said the lease of the ground ...more »

International Transactions
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Gupta, Commerzbank, Morgan Stanley in Court News
BusinessWeekFebruary 1, 2012

(Adds Gupta in Lawsuits section, Stanford in Trials, Facebook in Litigation Departments and Foreign Bribe Case in Verdicts. Updates BP and EchoStar in Lawsuits, JPMorgan in New Suits and JC Flowers in Verdicts. Corrects gender of HSBC spokesman in ...more »

Communications & Media
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LTA Introduces IGMS
AllAfrica.comFebruary 1, 2012

The Liberia Telecommunications Authority or LTA, the country's network service regulator said the new measure, the International Gateway Measuring System or IGMS will help strengthen its capacity to also seal revenue leakages and boost government ...more »

NH May Drop Licensing in Name of Food Freedom
Food Safety NewsFebruary 9, 2012

HB 1402, eliminating license requirements for so-called homestead food and allowing on-farm sales of raw milk products, may get to the floor almost as quickly. New Hampshire currently allows the sale of non-potentially hazardous foods from licensed...more »

Construction & Development
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Report says new immigration law will cost Alabama
NECNFebruary 1, 2012

But the report said the costs to the state include hurting the state's economic development effort and the cost of implementing and enforcing the law. Workers who leave will not be replaced by high salaried workers and will not be a big boost to the ...more »

Locating Funds
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Law and Order
STLtoday.comFebruary 1, 2012

Schroeder said Sedlacek is not covered by a state law on recording interrogations because he is not in jail. Public defender John Rekowski said Sedlacek "is, in every sense of the words, in custody." No one has provided a motive why Sedlacek, ...more »

Contracts Involving State & Minicipality
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Sloan, Bagley, Hatcher & Perry Law Firm Expands Houston Focus with New Office ...
Business Wire (press release)February 1, 2012

HOUSTON--(BUSINESS WIRE)--Sloan, Bagley, Hatcher & Perry Law Firm (The Sloan Firm, www.SloanFirm.com) has expanded its Houston presence with the relocation of associate J. Ryan Fowler from Longview, Texas, and the lease of larger offices at 3000 Smith ...more »

Mergers, Acquisitions & Divestitures
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Gentiva® Health Services Reports Fourth Quarter and Full-Year 2011 Results
MarketWatch (press release)February 7, 2012

... legal settlements and merger and acquisition activities, the results of discontinued operations and the impact of any future acquisitions or divestitures, which can fluctuate significantly and may have a significant impact on net income.more »

Corporate Finance & Taxation
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Beeman gets reprieve, but only for a week
GoErie.comFebruary 1, 2012

McLaughlin asked Ari Kunofsky, the tax attorney for the US Department of Justice. McLaughlin on Tuesday granted Beeman one last chance to roll back his tax case, first filed in 2010. The Internal Revenue Service is poised to auction off Beeman's four ...more »

Mortgages & Foreclosures
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Cuts to foreclosure-prevention aid fought
Ithaca JournalFebruary 1, 2012

The agency, which oversees lending in the state, will review New York's laws governing foreclosure, he said. New York has appropriated $26 million in state funds and $21 million in federal stimulus money since the 2008-09 fiscal year for housing ...more »

Creditor's Rights
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Kodak Seeks Hollywood Exit
Wall Street JournalFebruary 1, 2012

By JACQUELINE PALANK Eastman Kodak Co. aims to cut costs in its restructuring by giving up its expensive naming rights to the Kodak Theatre, a modern Hollywood landmark that has been home to the Academy Awards for the past decade.more »

Non-Profit Corporations
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Loss of support threatens arts center
The Island NowFebruary 2, 2012

Great Neck Arts Center founder and Executive Director Regina Gil is worried about the future of her non profit organization. From left, Village of Great Neck Mayor Jean Celender poses with honorees Eileen and Alan Sarroff and Gil during the art ...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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Rocket Lawyer Survey Reveals Top Issues for Small Businesses Are Legal and ...
MarketWatch (press release)February 1, 2012

As SMBs enter into new business contracts, hire new employees, and upgrade to new office spaces, entrepreneurs face a wider range of legal issues, like signing contracts, staying compliant with HR laws, and signing commercial leases.more »

Debt Collection
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RBS facing legal action over £12bn rights issue
Herald ScotlandFebruary 2, 2012

PENSIONERS and small investors who lost savings after the Royal Bank of Scotland's disastrous £12 billion rights issue three years ago have taken the first step in bringing proceedings against the bank, it has emerged. They have appointed Bird & Bird, ...more »

Public Offerings
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Harold Meyerson: Holding banks accountable
The News JournalFebruary 2, 2012

Not only did he refuse to endorse the deal, he formed a team of 15 attorneys to look into possible financial fraud. Without the signature of the attorney general from the state that's home to Wall Street, there was no deal. And over the course of 2011, ...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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Catalyst Paper shares suspended on TSX
Proactive Investors USA & CanadaFebruary 1, 2012

...reorganization plans under the Canada Business Corporations Act (CBCA). In early January, the paper maker filed for Chapter 15 creditor protection in the US and agreed a restructuring package in Canada that was supported by many of its bondholders.more »

Directors' & Officers' Liability
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Through a Web Site Under Construction, a Secret Donor Revealed
New York Times (blog)February 2, 2012

The report listed just a post office box for Paumanok in New Canaan, Conn. The man who appears to be behind the donation, or at least closely linked to it, is William Laverack Jr., chairman and chief executive officer of Laverack Capital Partners, ...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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TripAdvisor ad banned for “misleading” reviews
Marketing WeekFebruary 1, 2012

TripAdvisor has been rapped by the advertising watchdog for making false claims about the reviews on its website, after it admitted it couldn't prove they were genuine or from real travellers. The claims such as “Reviews you can trust”, ...more »

Trade Associations
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Reports: 1.6M auto parts jobs at risk because of Chinese trade practices
The Detroit NewsFebruary 1, 2012

Two of the reports come from the liberal-leaning Economic Policy Institute, and the third from Stewart and Stewart, a law firm that has won cases challenging China's trade practices. "These three reports show beyond a shadow of a doubt that China's ...more »

Federal Contracts
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Lawyers in NY Facebook lawsuit spar over amount Facebook attorneys entitled to ...
Washington PostFebruary 1, 2012

The Buffalo court case so far has focused exclusively on the authenticity of a two-page work-for-hire contract that Ceglia says proves his claims, along with a series of follow-up emails he says he and Zuckerberg exchanged. Facebook's attorneys have ...more »

Unfair Competition
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EU Blocks New York-Frankfurt Stock Exchange Merger
Voice of America (blog)February 1, 2012

The EU's Competition Commissioner, Joaquin Almunia, said Wednesday the proposed deal between the owners of the New York Stock Exchange and the Deutsche Boerse exchange in Frankfurt was rejected because it would have created an unfair, near monopoly in ...more »

Federal Grants
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'PMO role in 2G scam not negligence but complicity'
Daily PioneerFebruary 1, 2012

The BJP continued its attack on Prime Minister Manmohan Singh on Wednesday saying the role of his office in the 2G scam was not a case of negligence but that of complicity. Hailing Supreme Court's Tuesday observation on grant of sanction for ...more »

Venture Capital
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New venture capital firm makes its first investment
Dallas Morning News (subscription)February 7, 2012

By SHERYL JEAN Dallas Venture Partners, one of the newest venture capital firms in North Texas, announced Monday that it has made its first investment. It led a round of funding in Richardson-based DeviceFidelity Inc., with strategic corporate investor ...more »

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