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

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Attorney general opinion clarifies Harbor Police authority
Houma CourierFebruary 1, 2012

The Louisiana Attorney General's office has clarified a 2011 decision which suggested the authority of Port Fourchon's Harbor Police Department is not recognized by the state. The confusion began last year, when the port's private Harbor Police...more »

Presidential Campaign Finances
WCTVFebruary 1, 2012

Friends of candidates set up these groups and by law, can raise unlimited dollars to typically run ads blasting an opponent. It includes this ad run by a group supporting former Massachusetts governor Mitt Romney called, "restore our future".more »

Business Law News and Stories

Advertising
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Trial set to begin for suspect in 2010 Lynn beating murder
Daily ItemFebruary 1, 2012

The trial had been delayed several months while his attorney Raymond Buso of Salem faced larceny charges for allegedly stealing advertising signs from a Salem business. “I would love to know why (Buso)'s been so intent on getting back on this case,” ...more »

Foreign Investments
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Saudi mulls labour, financial, legal reforms
Khaleej TimesFebruary 1, 2012

Financial, legal and labour reforms are under discussion and may be introduced as soon as this year. Fresh steps are expected to encourage firms to hire Saudis in senior positions; the stock market may be opened to direct foreign investment; ...more »

Antitrust Law, Domestic
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Cox Smith Selects Elegrity's LBMS™ Suite for Next-Generation New Business...
San Francisco Chronicle (press release)February 3, 2012

Elegrity's cutting edge software suite ushers in an exciting industry standard for law firm business process improvement and new business intake. Cox Smith Matthews Incorporated, a leading Texas business law and litigation firm, announced today that it ...more »

Franchising
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End of an era for National Express rail franchise
Norfolk Eastern Daily PressFebruary 1, 2012

And Andrew Chivers has admitted National Express could mount a bid to win it back when the long-term franchise comes up to be awarded in 2014. He said: “Potential franchisees will be starting to bid in 2013. We will be looking at that when the time ...more »

Gaming Law
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Oklahoma lawmaker proposes tax on "violent" video games (and Ultimate Card Games)
Ars TechnicaFebruary 2, 2012

By Kyle Orland | Published February 2, 2012 2:42 PM When the US Supreme Court decided last year to extend full First Amendment protections to video games, many likely thought that was the last word on potential legal assaults on the medium.more »

Banking Law
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Fed Bank Presidents Disclose Assets From Farmland to Stocks
BusinessWeekFebruary 1, 2012

1 (Bloomberg) -- Federal Reserve regional bank presidents revealed unprecedented details about their personal wealth, disclosing Citigroup Inc. shares bought by accident and ownership of a Missouri farm and Texas ranchland. The regional bank chiefs, ...more »

Government Construction Contracts
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Iain Gray: This is no way to build Scotland's economy
ScotsmanFebruary 3, 2012

This is a far bigger contract and means 24500 tonnes of steel will be shipped from the other side of the world. The Scottish Government press release claimed steel assembly work would create 100 jobs in Fife. It did not estimate how many jobs in Gdansk ...more »

Business Formation
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Rajat Gupta, JC Flowers, Muni Bonds, Full Tilt Poker: Compliance
BusinessWeekFebruary 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 »

Institutional Investing
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Stanford Financial receiver sues law firms, lawyer
Thomson Reuters News & InsightFebruary 1, 2012

Feb 1 (Reuters) - The receiver for the money management firm founded by Texas financier Allen Stanford, who is on trial for investment fraud, has filed a $1.8 billion lawsuit against two prominent New York law firms and an attorney who worked at both, ...more »

Commercial
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New Jersey Legal Malpractice Lawyers Now Offer Helpful Information on the Web
PR Web (press release)February 1, 2012

As the Web page notes, Wasserman is one of the most widely recognized and highly respected legal malpractice authorities and attorneys in the country, with more than three decades of experience in this unique area of the law.more »

Midway Announces Garrington Acquisition and Bought-Deal Equity Financing
Marketwire (press release)February 3, 2012

ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF US SECURITIES LAW Midway Energy Ltd. ("Midway" or the "Company") (TSX:MEL) is pleased to announce that it has signed a purchase and sale agreement to acquire additional Cardium ...more »

Commercial Bankruptcy
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After a Delay, MF Global's Missing Money Is Traced
New York TimesFebruary 1, 2012

Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts ...more »

Internal Investigative Services
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Carbon County Sheriff's No. 2 commander under 'criminal investigation'
Salt Lake TribuneFebruary 3, 2012

Guy Adams, other than to say his department was conducting an internal affairs probe while a separate investigation was just beginning in South Salt Lake. Cordova said he placed Adams on leave beginning Tuesday, but other than to confirm "this is a ...more »

Commercial Leasing
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Washington real estate waits on Congress
Washington Post (blog)February 1, 2012

The partisan warfare is wreaking chaos on Washington commercial real estate owners as well. This isn't just a matter of cutbacks to federal construction projects; some of those who are most affected are companies with buildings where federal agencies ...more »

International Transactions
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MGM Resorts International Announces Launch of Credit Facility Amendment and ...
MarketWatch (press release)February 2, 2012

2, 2012 /PRNewswire via COMTEX/ -- MGM Resorts International /quotes/zigman/233898/quotes/nls/mgm MGM +1.46% today announced the launch of a proposed amendment to its aggregate $3.5 billion senior credit facilities which will extend the maturity of ...more »

Communications & Media
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Complaint regs out midyear
The NationFebruary 1, 2012

The National Broadcasting and Telecommunications Commission is expected to announce in the middle of the year regulations on receiving and considering consumers' complaints regarding radio and TV broadcasting. Its broadcasting consumer protection ...more »

No Penalties, Late Fees For Unincorporated Temecula Dog Owners
Patch.comFebruary 3, 2012

For this month only, dog owners who have never licensed their pets or have let the permits expire can become legal with no fear penalties. By Mirna Alfonso Until the end of this month, dog owners without proper licensing for their pets can make their ...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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Road funds for Pope, Yell and Johnson counties may be at risk
Russellville CourierFebruary 4, 2012

A 2009 law designated the treasurer's office as the distributor of the federal funds for the counties, but Rogers said the Education Department had still submitted the request for the previous two years. "Historically, the Department of Education has ...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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Rising regulatory risk squashing M&A deals, say advisers
ReutersFebruary 2, 2012

The Commission usually requires an extremely detailed level of information, even in cases of moderate complexity," said Bernd Meyring, antitrust partner at global law firm Linklaters. Even just the first step -- being allowed to file the intention to ...more »

Corporate Finance & Taxation
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Taxing times for air travellers - Air Passenger Duty can reach £170 ($267 ...
BBC NewsFebruary 1, 2012

He has argued for parity in taxation with other North American destinations. The duty was originally introduced for environmental reasons, a way to tackle climate change and combat greenhouse gas emissions from the airlines.more »

Mortgages & Foreclosures
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String of crises has one solution: More regulation
Minneapolis Star TribuneFebruary 11, 2012

"Rules to prevent financial fraud, or toxic dumping, or faulty medical devices, don't destroy the free market," the president said. "They make the free market work better." In the same breath, he added: "I've ordered every federal agency to eliminate ...more »

Creditor's Rights
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Mortgage Electronic Registration Systems, Inc vs Banitt
Republican EagleFebruary 2, 2012

THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. MORTGAGOR(S): Scott E. Banitt and Rebecca A. Banitt, husband and wife. MORTGAGEE: Mortgage Electronic ...more »

Non-Profit Corporations
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North Carolina group's lawsuit eyes America's Cup bid
Bellingham HeraldFebruary 1, 2012

If that isn't enough, the nonprofit African Diaspora Maritime Corp. wants to do it all while teaching about and promoting yacht racing - a notoriously white sport - to black youth as a catalyst to spur interest in technology, science and math, ...more »

Customs Disputes
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Lawmakers urge US to press China currency at WTO
Malaysia StarFebruary 1, 2012

WASHINGTON (Reuters) - Two top US lawmakers on Tuesday urged President Barack Obama's administration to broaden efforts to pressure China to change its currency practices by raising the issue at a World Trade Organization symposium in March.more »

Professional Corporations
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Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuit Against ...
MarketWatch (press release)February 2, 2012

SAN FRANCISCO, Feb 02, 2012 (BUSINESS WIRE) -- The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of purchasers of the common stock of Career Education Corporation ("Career ...more »

Debt Collection
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AMR Poised to Open Labor Talks With 10000 Job Cuts Possible
BusinessWeekFebruary 1, 2012

29 Chapter 11 filing to chip away at what the company says is a disadvantage in labor spending to competitors that relied on court protection to shed costs and boost productivity in the past decade. If AMR can't get unions to go along, the airline can ...more »

Public Offerings
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Jury deliberation begins Thursday in DeWeese trial
witf.orgFebruary 2, 2012

The Greene County Democrat took the stand in his own defense this morning – the first time any sitting lawmaker has done so in response to theft, conspiracy, and conflict of interest charges brought by the state attorney general's office in an ...more »

Debt Settlement
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Five Sticky Utility Bill Problems – and What to Do About Them
Credit.com News (blog)February 1, 2012

Isn't there a statute of limitations for these debts? Yes, the statute of limitations may prevent a utility company, or debt collector who purchased one of these old debts, from successfully suing you to collect. That time period is based on state law, ...more »

Reorganizations & Restructuring
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District Judge in Monterrey Issues Final Ruling Approving Vitro's ...
Sacramento BeeFebruary 8, 2012

7, 2012 -- /PRNewswire/ -- Vitro SAB de CV ("Vitro" or "The Company") (BMV: VITROA) reports that the Judge for the Fourth District Court Civil and Labor Matters in the City of Monterrey issued her final ruling approving the restructuring plan filed by ...more »

Directors' & Officers' Liability
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Big 'I' and Swiss Re Corporate Solutions Launch New Web Resource
Insurance News Net (press release)February 1, 2012

31 -- Independent Insurance Agents and Brokers of America issued the following news release: The Independent Agents & Brokers of America Big "I" Professional Liability Program and Swiss Re Corporate Solutions recently launched a new and improved risk ...more »

State & Minicipal Bonds
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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 »

False Advertising
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The UK's ASA Slams a Rachel Weisz for L'Oreal Ad for 'Unrealistic Retouching'
FashionistaFebruary 1, 2012

By Cheryl Wischhover Wednesday, Feb 1, 2012 / 10:02 AM The UK's Advertising Standards Authority (ASA) has taken yet another cosmetics company to task for its false advertising, WWD is reporting. Instead of taking an overprotective role over too-young ...more »

Trade Associations
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Momentum builds to require feds to disclose stock trades5:01 PM ET
GovExec.comFebruary 3, 2012

The scientists and doctors say the information gathered on them contributed to harassment and wrongful termination, the Post reports. Bill is aimed at fighting unjustified insourcing in federal procurement. Federal pay takes another hit in legislation ...more »

Federal Contracts
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Attorneys needed for both sides in real estate deals
Rochester Democrat and ChronicleFebruary 2, 2012

The seller usually hires a lawyer from the get-go to make sure all the paperwork and the title is ready for the home to go on the market. The buyer usually does not need a lawyer until a contract is signed. There is also a bank attorney involved to ...more »

Unfair Competition
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Google convicted by French court for unfair Google Maps competition
DigitFebruary 2, 2012

The case of unfair competition, which has been going on for nearly two years, was ruled by the Paris court in favour of the plaintiff, Bottin Cartographes – a French company that provides paid “tailored mapping solution” for businesses.more »

Federal Grants
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11 NY groups splitting $18K in parks-trails grants
Wall Street JournalFebruary 1, 2012

AP ALBANY, NY — Eleven not-for-profit park and trail organizations from Long Island to the Adirondacks are splitting nearly $20000 in grants from an Albany-based preservation group. Parks and Trails New York says it is awarding more than $18000 to the ...more »

Venture Capital
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JB Pritzker may get substantial payday from Facebook IPO
Chicago TribuneFebruary 1, 2012

The expected initial public offering of social media juggernaut Facebook could result in a substantial payday for at least one Chicago investor: local venture capitalist JB Pritzker. Pritzker's operations were part of a group that purchased $100 ...more »

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