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

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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 »

Deaths of both Pa. pastor's wives ruled homicides; he's been charged in 2nd ...
Washington PostFebruary 1, 2012

The death of the first wife of a Pennsylvania pastor charged with killing his second wife is now also classified as a homicide, authorities said. Arthur Schirmer, 63, former pastor of Reeders United Methodist Church in Jackson Township, ...more »

Business Law News and Stories

Advertising
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TripAdvisor authenticity claims misleading and unsubstantiated, ad watchdog rules
Out-Law.comFebruary 1, 2012

Under advertising rules set out in the UK Code of Non-broadcast Advertising, Sales Promotions and Direct Marketing (CAP Code) marketing communications that "materially mislead" consumers or are "likely to do so" are prohibited.more »

Foreign Investments
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What everyone missed in Facebook's IPO filing: Frankel
Moneycontrol.comFebruary 3, 2012

We believe that we have been in compliance with the provisions of the federal securities laws relating to these matters." The fact of that paragraph alone is news. The New York Times reported in December 2010 that the SEC was looking into the red-hot ...more »

Antitrust Law, Domestic
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The Aldridge Company and Rafte & Company Merge Services
MarketWatch (press release)February 1, 2012

"With combined IT support services, Rafte & Company and The Aldridge Company offer easy availability of cloud services as well as a full complement of technology and business consulting services for small businesses, law firms and other professional ...more »

Franchising
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Gerhardt and Marcantonio on Allegra's Acquisition of Signs by Tomorrow
What They ThinkFebruary 1, 2012

Both Gerhardt and Marcantonio asserted that if the integrity and intent of the organization is proper, this type of arrangement does not betray the trust of existing franchisees. Gerhardt added, “Our intent is to make us into a stronger company that ...more »

Gaming Law
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KY Senator Can Support Gaming Amendment
Standardbred CanadaFebruary 2, 2012

Kentucky Senator Damon Thayer has been informed by the state's Legislative Ethics Commission that it is fine for him to support a constitutional amendment for the implementation of expanded gaming in the state, even though he has profited financially ...more »

Banking Law
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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 »

Government Construction Contracts
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Reps threaten to revoke Lagos-Ibadan Expressway contract
VanguardFebruary 1, 2012

By Favour Nnabugwu House of Representatives has threatened to revoke the concession contract between Federal Government and Bi-Courtney, following the slow pace of work on the reconstruction of Lagos-Ibadan expressway. Chief Ogbuefi Ozomgbachi, member ...more »

Business Formation
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Apple, Google Poaching Case Will Go Forward, US Judge Says
BusinessWeekFebruary 1, 2012

“They still have an antitrust claim that's going forward so I don't want to see any obstruction on discovery,” she told lawyers during a hearing. The case is a private lawsuit brought on behalf of employees that mirrors claims the companies settled ...more »

Institutional Investing
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Valentin Georgiev: US companies invest more than USD 3 billion in Bulgaria ...
Focus NewsFebruary 5, 2012

There is also a need of guaranteed supremacy of the law. The companies should be sure that their investments here are protected by the law. In cooperation with other chambers of commerce in Bulgaria a letter was sent to the Ministry of Finance about ...more »

Commercial
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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 »

CNB Financial Corporation Reports 2011 Earnings of $15.1 Million, a 33 ...
MarketWatch (press release)February 2, 2012

More information about CNB and CNB Bank may be found on the internet at www.bankcnb.com . This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the ...more »

Commercial Bankruptcy
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Cohen & Grigsby's Florida Office Relocates to Mercato in Naples
MarketWatch (press release)February 1, 2012

The firm's practice areas include Business & Tax, Labor & Employment, Immigration/International Business, Real Estate & Public Finance, Litigation, Estates & Trust, Intellectual Property, Bankruptcy & Creditors Rights, and Public Affairs.more »

Internal Investigative Services
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Issa tells AG that House panel will do what is necessary to get Justice ...
Washington PostFebruary 2, 2012

A month after Terry's death, Congress began hearing of problems with the probe. Under pressure from lawmakers, Holder has shaken up the leadership of ATF, and the Justice Department's inspector general is conducting an internal investigation of the ...more »

Commercial Leasing
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Community Bulletin and Business Briefs
Winter Park/Maitland ObserverFebruary 1, 2012

NAI Realvest negotiated a new lease agreement for 1991 square feet of office space in suite 104 at 1015 Maitland Center Commons Blvd. O,R&L welcomes Trey Vick, executive vice president of Commercial Real Estate Services. Altamonte Springs-based general ...more »

International Transactions
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US lawmakers urge SWIFT to drop Iranian banks
ReutersFebruary 2, 2012

Cutting Iranian banks out of SWIFT would have a "very disruptive impact" on the banks' ability to do business, said Jeanne Archibald, partner with Hogan Lovells law firm in Washington, who advises international clients on sanctions compliance.more »

Communications & Media
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A test of Aitzaz's legal skills in NRO case
The News InternationalFebruary 1, 2012

The following paragraph said that since the NRO stands declared void ab initio, therefore, any actions taken or suffered under it are also non est in law and since the communications addressed by Qayyum to various foreign fora/authorities/courts ...more »

Appeals court set to hear Alabama trademark suit
BusinessWeekFebruary 2, 2012

The university filed suit in 2005 alleging that Moore violated trademark law in painting scenes from football games by showing Crimson Tide players in their crimson and white uniforms without permission. The suit also contends that Moore reissued ...more »

Construction & Development
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Lawmakers refute immigration law cost
News CourierFebruary 1, 2012

The cost-benefit analysis, written by Dr. Samuel Addy of the University of Alabama's Culverhouse College of Commerce and Business Administration, found the law could mean Gross Domestic Product losses of $2.3 billion to $10.8 billion, income and sales ...more »

Locating Funds
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Cameron County Parks Department missing money
Brownsville HeraldFebruary 4, 2012

County Judge Carlos Cascos noted that “I'm just glad that it was caught and we are going to do whatever we need to do to take it to the full extent of the law.” Missing funds could be from tolls or a combination of revenue, which would include lease...more »

Contracts Involving State & Minicipality
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How to Hire Independent Contractors (Without Getting in Trouble)
New York TimesFebruary 1, 2012

What I'm doing is trying to keep a smaller in-house contingent and supplement it with contractors based on the ebbs and flows of how much business we have.” For both legal and practical reasons, Scale Computing does not use contractors in areas like ...more »

Mergers, Acquisitions & Divestitures
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Platinum Equity Completes Sale of 3B
MarketWatch (press release)February 1, 2012

About Platinum Equity Platinum Equity ( www.platinumequity.com ) is a global M&A&O(R) firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, ...more »

Corporate Finance & Taxation
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Best and worst funds: Energy sector
MarketWatchFebruary 2, 2012

As author of the Chapter “Modern Tools for Valuation” in The Valuation Handbook" (Wiley Finance 2010), David Trainer is a distinguished investment strategist and corporate finance expert. He specializes in analyzing accounting rules and their impact on ...more »

Mortgages & Foreclosures
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Richard Callahan: Mortgage settlement wrecks free market
OCRegisterFebruary 15, 2012

It all started in late 2010 when mortgage servicers were investigated for filing documents necessary to begin the foreclosure process without following protocol. It was claimed that this so-called "robo-signing" was responsible for thousands of ...more »

Creditor's Rights
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JPMorgan Funds Drop $700 Million Claim Against Bankrupt Lehman
BusinessWeekFebruary 2, 2012

2 (Bloomberg) -- JPMorgan Chase & Co., conceding arguments it should recoup losses suffered by fund affiliates on investments in Lehman Brothers Holdings Inc., will drop a $700 million claim against the bankrupt firm. The agreement, filed yesterday in ...more »

Non-Profit Corporations
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Joe Adams: Mandatory HOA needs unanimous support
The News-PressFebruary 5, 2012

There is no provision in the statute, nor in any set of bylaws that I have ever seen, that prohibits boards from electing whoever it so chooses to serve as the board's officers, including president. That said, Florida's Not-For-Profit Corporation Act, ...more »

Customs Disputes
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King & Spalding Hires Dewey Washington Partner for Tax Practice
BloombergFebruary 1, 2012

King & Spalding LLP, an international law firm of more than 800 lawyers, hired Abraham NM “Hap” Shashy, Jr., the head of the Washington tax practice at Dewey & LeBoeuf LLP. Shashy, 62, who was managing partner of the Washington office of New York-based ...more »

Professional Corporations
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Senate Democrats don't like the idea of a Netflix Facebook app
VentureBeatFebruary 1, 2012

Streaming video service Netflix recently appealed to a panel of US senators to update an old law that forbids the company from launching a Facebook application within the country. The antiquated law, the Video Privacy Protection Act (VPPA), ...more »

Debt Collection
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California Senate approves stricter rules on debt collection
Los Angeles TimesFebruary 1, 2012

Senators approved tougher regulations on the debt collection industry on Tuesday, a move hailed by consumer advocates as an important step toward protecting California residents from unscrupulous collectors. Under the proposal, companies that buy up ...more »

Public Offerings
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Sandusky attorney blames AG for Joe Paterno's death
abc27February 1, 2012

By Dennis Owens - bio | email An attorney on the defense team of Jerry Sandusky is accusing the state attorney general's office of unjustifiably whipping up the public outcry that led to the firing of legendary Penn State football coach Joe Paterno.more »

Debt Settlement
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Deutsche Boerse-NYSE, Gupta, Muni Bonds: Compliance
BusinessWeekFebruary 1, 2012

The stolen numbers are used to file false tax returns for refunds, he said. In the fiscal year that ended Sept. 30, the IRS stopped 260000 fraudulent returns related to identity theft, protecting $1.4 billion in refunds, Miller said.more »

Reorganizations & Restructuring
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Salary savings marginal in Augusta government reorganization, analysis shows
The Augusta ChronicleFebruary 19, 2012

Overall, Augusta government staffing went from 2772 employees at the start of 2011 to 2437 in January 2012. Despite 335 fewer positions on the payroll, salary costs dropped by only 1.3 percent, going from around $91.32 million to nearly $90.13 million ...more »

Directors' & Officers' Liability
[read all news]
Pleasanton, police union reach tentative agreement on new contract
San Jose Mercury NewsFebruary 1, 2012

By Robert Jordan In a continuing effort to corral its mounting pension obligation, Pleasanton reached a tentative agreement with its police union that includes all officers paying their share of retirement costs. The city and Pleasanton Police ...more »

State & Minicipal Bonds
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Artisan Business Group Assists EB-5 Capital Seekers in South Korea
San Francisco Chronicle (press release)February 4, 2012

Brian Su, CEO of Artisan Business Group, Inc., gladly announces that Artisan Business Group, Jin Lee Law Group (California) and Hwapyung D&C (Korea) are jointly representing US EB-5 regional centers and project developers to Korean Investors at the ...more »

False Advertising
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'Misleadingly exaggerated': Rachel Weisz advert banned after L'Oreal admits to ...
Daily MailFebruary 1, 2012

The British actress is not the first renowned beauty to have her image digitally enhanced to give a false impression of the benefits of using popular beauty products. An advertisement for an Olay anti-aging product featuring Twiggy was banned in 2009.more »

Trade Associations
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Real Estate Roundup: Firms Trading Spaces in Atlanta, Chicago, and New York
The American LawyerFebruary 1, 2012

On its Web site, Wilson Elser describes the 12-year-old Westchester office—which houses 150 attorneys across such practice areas as professional liability, products liability, intellectual property, environmental, and corporate law—as "more than just ...more »

Federal Contracts
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Revenue Declines at Unisys
Zacks.comFebruary 2, 2012

Revenue from the US Federal business declined approximately 18% in the quarter due to the termination of the company's contract with the US Transportation Security Administration in November 2010 as well as continued budget challenges in the US Federal...more »

Unfair Competition
[read all news]
Do people with HIV have to tell their sex partners?
CTV.caFebruary 5, 2012

Supreme Court justices are to hear two cases Wednesday -- appeals from the provinces of Manitoba and Quebec -- that hinge on the obligations of those with the virus that causes AIDS. Prosecutors argue people carrying HIV must always inform their ...more »

Federal Grants
[read all news]
Former Penn State professor charged with $3 million grant fraud
News & ObserverFebruary 1, 2012

AP PITTSBURGH -- The Department of Justice has charged a former Penn State University professor, who now lives in Raleigh, with fraud, false statements and money laundering relating to $3 million in federal research grants. The Justice Department said ...more »

Venture Capital
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Wellington Financial Re-Invests in Ember
TechFinanceFebruary 8, 2012

Proceeds from the original financing provided the company with additional working capital to accommodate its strong growth trajectory. Ember is backed by Polaris Ventures, GrandBanks Capital, RRE Ventures, Vulcan Capital, DFJ ePlanet Ventures, ...more »

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