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

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Federal judges troubled, baffled with Texas redistricting
San Antonio ExpressFebruary 1, 2012

Also ruled that the Legislature's maps could not be used without prior approval by Justice Department or US District Court in the District of Columbia under the Voting Rights Act. Texas could still appeal any new maps drawn by the federal courts to the ...more »

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 »

Business Law News and Stories

Advertising
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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against K12, Inc.
MarketWatch (press release)February 1, 2012

BENSALEM, Pa., Jan 31, 2012 (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 K12 Inc. ("K12" or the "Company") /quotes/zigman/477398/quotes/nls/lrn LRN ...more »

Foreign Investments
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China Announces Import Tax Treatment to 'Encouraged' Foreign-Invested Projects
China BriefingFebruary 2, 2012

4 released on January 29, the Chinese General Administration of Customs clarified the favorable import tax treatment to “encouraged” foreign-invested projects (FIPs). Starting on January 30, FIPs (including capital increases to FIPs) listed in the ...more »

Antitrust Law, Domestic
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Samsung Takes a Hit in Apple Battle
CIO TodayFebruary 1, 2012

By Gabriele Steinhauser and David Rising The EU's antitrust watchdog has launched a formal investigation of whether Samsung is using law suits over key patents on 3G wireless technology to hinder competitors -- including Apple.more »

Franchising
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'Business Connection' features Title Boxing Club
Chicago Sun-TimesFebruary 1, 2012

The Naperville location is one of 19 franchises across the country. TITLE Boxing Club specializes in boxing, kickboxing and mixed martial arts. Pete Gilfillan came on set to promote his business FranChoice. Want to start your own franchise but don't ...more »

Gaming Law
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Washington DC steps back from Internet gambling launch
ReutersFebruary 1, 2012

By Ian Simpson | WASHINGTON (Reuters) - A city panel in the US capital voted on Wednesday to repeal a first-in-the-nation Internet gambling law for Washington, DC, a spokeswoman said. Support for online gambling had dried up as details surfaced about ...more »

Banking Law
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Playbook: Bond fraud
PoliticoFebruary 1, 2012

http://nyti.ms/wPMwck BREAKING -- WSJ A1, "US Plans Charges on Bond Fraud," by Susan Pulliam, Jean Eaglesham and Michael Siconolfi: "The Manhattan US Attorney's office is planning to allege in a criminal complaint that several former traders at Credit ...more »

Government Construction Contracts
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At a press conference about transparency, Speaker Quinn puts on a poker face
Capital New YorkFebruary 1, 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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Alabama immigration law sponsor disagrees with study that finds 2011 bill ...
al.com (blog)February 1, 2012

Kerry Rich, R-Albertville, and Micky Hammon, R-Decatur, after signing into law what critics and supporters are calling the strongest bill in the nation cracking down on illegal immigration, on Thursday June 9, 2011 at the state Capitol in Montgomery.more »

Institutional Investing
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SLED probes investment questions
Greenville NewsFebruary 2, 2012

By Tim Smith COLUMBIA — The State Law Enforcement Division is investigating questions involving a friend of state Treasurer Curtis Loftis who solicited investment managers to do business with the state's investment commission.more »

Commercial
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Thompson & Knight Names Emily Parker as Managing Partner
MarketWatch (press release)February 1, 2012

In response to the Tax Court's decision in that case and because of concerns about the potential loss of revenue resulting from the ruling, the US Congress amended the underlying law. "I'm honored to serve the clients and attorneys of Thompson & Knight ...more »

OUR VIEW: Aubree Jo's law
StandardNetFebruary 2, 2012

By Editorial Board We support what is being called "Aubree Jo's law," a bill from state Rep. Ryan Wilcox, R-Ogden, which would adjust child custody laws to also specifically consider the best interest of the child. Wilcox's bill, HB88, adds one line to ...more »

Commercial Bankruptcy
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Proposal from Kan. business groups goes against immigration guru's national ...
Washington PostFebruary 1, 2012

An architect of state and local laws cracking down on illegal immigration is a leading Republican officeholder in Kansas, but business groups in his home state are asking legislators to move in the opposite direction by starting an unusual program ...more »

Internal Investigative Services
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Sutherland Asbill & Brennan Launches Crisis Management, Complex Litigation Website
IT News OnlineFebruary 22, 2012

... criminal investigations, multidistrict proceedings, putative class actions, congressional investigations and hearings, regulatory investigations, internal investigations, shareholder direct and derivative claims, and corporate disclosure issues.more »

Commercial Leasing
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BP, Cabot, JPMorgan, Commerzbank, Morgan Stanley in Court News
BloombergFebruary 1, 2012

Stuart Smith, a New Orleans-based plaintiffs' attorney, said the number of cases will increase as fracking expands into more populated areas and complaints grow. More drilling may also create new routes for the chemicals to migrate, he said.more »

International Transactions
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Banking Hub Adds to Pressure on Iran
Wall Street JournalFebruary 4, 2012

Virtually all major banks and finance firms use it to send financial data and messages on its secure network. Swift initially released a statement this week arguing that its services didn't place it in violation of sanctions law.more »

Communications & Media
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Students introduced to new bullying law
Ledger IndependentFebruary 1, 2012

STARTING POINT | Images communicate during a Powerpoint presentation to students at Deming School Tuesday on preventing and recognizing bullying. MOUNT OLIVET | Shining up the Golden Rule Law during the current session of Kentucky General Assembly, ...more »

Pennsylvania Governor Corbett Signs Eight Bills into Law
Sacramento BeeFebruary 2, 2012

... into law the following eight bills: House Bill 169 – This bill amends the Local Option Small Games of Chance Act to create new definitions, increase prize limits, and provide for additional rules and regulations for licensing of organizations.more »

Construction & Development
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Construction starts on Irvine's Great Park development
Los Angeles TimesFebruary 1, 2012

The development sits on the site of the former El Toro Marine Corps Air Station. Irvine approved the first phase of the construction last year. "With today's groundbreaking, we are moving forward with the first phase of Great Park Neighborhoods.more »

Locating Funds
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RI gov seeks $400K more for Central Falls receiver
CBS NewsFebruary 1, 2012

(AP) 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 »

Contracts Involving State & Minicipality
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Dassault Aviation's Rafale Is Lowest Bidder in India Jet Fighter Contract
BloombergFebruary 1, 2012

Indian law requires the government to negotiate a contract with the lowest bidder. The only way it can reconsider the tender is if Dassault says it can't fulfill the contract, said Mrinal Suman, an arms-procurement adviser for the Confederation of ...more »

Mergers, Acquisitions & Divestitures
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Divestitures gain ground in federal market
Washington TechnologyFebruary 3, 2012

By David Hubler Divestitures in the federal contracting space accounted for about 20 percent of all M&A activity last year, continuing a trend that began heating up in 2009. Experts ascribe the trend to several factors – the federal requirement to ...more »

Corporate Finance & Taxation
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Former Norman aide indicted for not filing taxes
Tbo.comFebruary 1, 2012

Neither Kelly nor his lawyer, Ron Cacciatore could be reached for comment today. In November, US Attorney Robert O'Neill said federal investigators failed to turn up evidence that Norman violated federal law when his wife, Mearline, accepted $500000 ...more »

Mortgages & Foreclosures
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Connecticut is among hardest hit by mortgage foreclosures
TheDay.comFebruary 12, 2012

Jeff Gentes, managing attorney for foreclosure prevention at the Connecticut Fair Housing Center in New Haven, said one out of every 11 homeowners in the Norwich-New London area is 90 days or more behind on his or her mortgage payments.more »

Creditor's Rights
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AMR Poised to Start Labor Talks With 10000 Job Cuts Possible
BusinessWeekFebruary 1, 2012

s American Airlines is preparing to offer union employees contracts today that probably will eliminate more than 10 percent of jobs and freeze pensions as the third-largest US carrier pares spending in bankruptcy. As many as 15000 jobs may be cut, ...more »

Non-Profit Corporations
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NewMarket Corporation Reports Record Results for the Year 2011
EON: Enhanced Online News (press release)February 1, 2012

Petroleum additives operations had another strong performance this year with operating profit of $348.3 million including the benefit of a net gain of $38.7 million from a legal settlement. Excluding the benefit of the legal settlement, ...more »

Customs Disputes
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Rajat Gupta, JC Flowers, Muni Bonds, Full Tilt Poker: Compliance
BloombergFebruary 1, 2012

The government also said yesterday that the insider-trading conspiracy continued beyond when Gutpa's lawyer has said his client's friendship with Rajaratnam deteriorated. Gupta still faces the same charges, five counts of securities fraud and one count ...more »

Professional Corporations
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Who should pay the $200 million for nursing home death? It's complicated
Tampabay.comFebruary 5, 2012

"Instead, decisions are being made by a real estate investor in New York.'' Lack of transparency can contribute to bad care, said Evin Isaacson, a fellow at the National Senior Citizens Law Center. If regulators can't decipher who ultimately makes ...more »

Debt Collection
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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 »

Public Offerings
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Attorney to challenge Tolson for NC House seat
Rocky Mount TelegramFebruary 1, 2012

He earned a bachelor's degree in economics from NC Agricultural and Technical State University and a law degree from Campbell University. Solomon said his experiences as a criminal defense lawyer would serve him well as a state representative.more »

Debt Settlement
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AA retiree committee aims to guard pensions
Tulsa WorldFebruary 4, 2012

Mazzara has been elected chairman of the American Airlines Retirees Committee, the lobbying arm of AMRRC Inc., a nonprofit organization formed by American retirees to represent them in AMR's bankruptcy case. Nonprofit status gives the organization tax ...more »

Reorganizations & Restructuring
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Recent editorials from Texas newspapers
Fort Worth Star TelegramFebruary 7, 2012

AP There is no such thing as a painless corporate reorganization, especially one that lands in bankruptcy court and puts jobs and employee retirement plans at risk. This is very bitter medicine, and American Airlines owes it to employees, ...more »

Directors' & Officers' Liability
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Directors Association now counts 200-plus
Caymanian CompassFebruary 1, 2012

Mr. Harris said CIDA is at the forefront of promoting the good corporate governance and training for directors in the Cayman Islands and added that CIDA had also held luncheons during the year to educate its members on items such as director liability...more »

State & Minicipal Bonds
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Quotes for Make My Day Better business law
Washington ExaminerFebruary 3, 2012

Daniel Kagan said during the committee hearing that giving businesses the same protections under the so-called "Castle Doctrine" — which the "Make My Day" law is frequently called in Colorado and other states — was not appropriate because unlike a ...more »

False Advertising
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BT criticised for internet claim
The Press AssociationFebruary 1, 2012

The Advertising Standards Authority (ASA) said the statement, in the context of the television advert it features in, gives the impression that BT provides the most reliable wireless online experience. However the internet service provider has not ...more »

Trade Associations
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International Law Summit in Mumbai
Times of IndiaFebruary 1, 2012

The event, now in its third year, has aptly been themed to focus on International Trade Law and Economic Policy, perhaps with the recent global economic turmoil in mind. As an entirely student managed association, SPIL was created for the sole purpose ...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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French court fines Google maps for unfair trading
RFIFebruary 1, 2012

... company that brought the case. Bottin Cartographiques argued that Google Maps was guilty of unfair competition by offering their service free, while its competitors had to invest to develop their product - maps and itineraries on sale to companies.more »

Federal Grants
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Professor faces felony charges for grant fraud
Centre Daily TimesFebruary 1, 2012

Craig Grimes, 55, who now lives in Raleigh, NC, has been charged with wire fraud, making false statements and money laundering tied to $3 million in federal research grant money. The US Attorney's Office for the Middle District of Pennsylvania charged ...more »

Venture Capital
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Venture Michigan Fund II attracts Mass. Flagship Ventures to Metro Detroit
Metromode MediaFebruary 2, 2012

A Massachusetts-based venture capital firm is looking to set up an office in Metro Detroit, thanks to an investment from the Venture Michigan Fund II. The Venture Michigan Fund II, a fund of funds that in invests in other venture capital funds, ...more »

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