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

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Rick Ross' House Site of Murder Investigation by Miami Police
ReutersMarch 1, 2012

Investigators are also likely to be interested to know if Nesbitt has any connection to Ross' less than legal activities. He's been arrested on gun, assault and marijuana charges, and once claimed to be affiliated with Carol City Cartel and other local ...more »

China vs. North Korea's Refugees
Wall Street JournalMarch 1, 2012

Beijing forcibly repatriates these unfortunates without giving them a chance to apply for asylum. North Koreans who are suspected of having met Christians, South Koreans or Americans while in China are executed or shipped off to the gulag.more »

Business Law News and Stories

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Alumni take law into own hands over jobs 'hype'
Times Higher EducationMarch 1, 2012

So unhappy, in fact, that 15 law schools are currently facing lawsuits for fraud, unfair competition and false advertising. Among those being sued are Albany Law School, DePaul University College of Law and New York Law School. "The numbers reported by ...more »

Federal Grants
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Statement on Federal Threats to Texas' Women's Health Program
Bradenton HeraldMarch 1, 2012

The US Department of Health and Human Services' threat is an abuse of its grant-making authority – and a violation of the Tenth Amendment of the US Constitution. "The federal government shouldn't be able to dictate state policy to our elected ...more »

Antitrust Law, Domestic
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Fannie and Freddie: Shangri-La for Lawyers
Fox BusinessMarch 1, 2012

And under the 2008 federal law letting the government seize Fannie and Freddie, the former executives would be prohibited from suing the companies' bankruptcy estate—they'd have to get in line with other unsecured creditors, and possibly end up with ...more »

Foreign Investments
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Apple: Just Halfway There
Motley FoolMarch 1, 2012

Apple's P/E ratio has mostly trended down over the past few years, as some argue that the "law of large numbers" keeps shares undervalued by most historical metrics. Apple has pocketed $35.13 per share in earnings over the past four quarters.more »

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Casual Male Retail Group, Inc. Signs Franchise Agreement for a DestinationXL ...
Bradenton HeraldMarch 1, 2012

The franchise agreement governs the operation of the store and provides that within two years of the store's opening to the public, the Casual Male Retail Group, Inc. subsidiary has an option to purchase an equity interest in the store.more »

Banking Law
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Kinde Durkee sued by congresswomen, state senator
Los Angeles TimesMarch 1, 2012

“In exchange for fees and profits, First California Bank intentionally ignored dozens of red flags, ignored its duties and obligations under state and federal law, and allowed Durkee to perpetuate the scheme.'' The lawsuit alleges fraud and breach of ...more »

Gaming Law
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Internet gaming ban set to pass house, probably not senate
Naples Daily NewsMarch 1, 2012

While the cafes typically sell such things as Internet time or phone cards, they profit from computerized sweepstakes-style games that the industry says are allowed under state law. But opponents contend the games are a form of illegal gambling and ...more »

Business Formation
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Lawyers hand Stanford's fate off to jury
New York PostMarch 1, 2012

For much of his trial, Stanford has dressed in what might be described as business casual — in part because of rules governing people in federal detention. Yesterday, though, Stanford entered court in more formal attire: a blue, double-breasted ...more »

Government Construction Contracts
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Judge clears way for I-95 travel plaza construction
Baltimore SunMarch 2, 2012

Judge Eric Johnson lifted the restraining order he issued nearly two weeks ago, saying state case law did not allow him to interfere with the board's constitutional authority to act on the contract, which is expected to be awarded to Miami-based Areas ...more »

Business Law
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Former State Attorney General, Terry Goddard, Joins Treliant Risk Advisors as ...
Business Wire (press release)March 16, 2012

WASHINGTON--(BUSINESS WIRE)--Treliant Risk Advisors, a leading compliance, risk management, and strategic advisory firm specializing in the financial services industry, announced today that Terry Goddard, former Attorney General of Arizona, ...more »

Institutional Investing
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Colorado House breaks logjam on bill easing rules on local investments
Denver PostMarch 3, 2012

Under current Colorado law, local governments can't invest in government-backed securities that have less than two triple-A ratings. However, last year's historic downgrade of federal securities by Standard & Poor's rating agency meant that ...more »

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Megan Dalton Joins Wisler Pearlstine
Citybizlist (press release)March 1, 2012

Ms. Dalton's primary practice areas include commercial litigation, with an emphasis on construction law, representing contractors, subcontractors, and various other parties in construction related matters. Ms. Dalton graduated in 2005 from Villanova ...more »

Obama's War Spending Cap
Cato @ LibertyMarch 6, 2012

For one, it is unlikely to become law. The White House has shown little interest in pushing for it. Meanwhile, Republicans are already bashing the president for possibly shortchanging troops amid a war. And even if it does become law, ...more »

Commercial Bankruptcy
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Kodak Agrees to Sell Gallery to Shutterfly
Wall Street JournalMarch 1, 2012

By BEN FOX RUBIN Eastman Kodak Co. said it has agreed on the proposed sale of its Kodak Gallery online photo-services business to Internet-based personal publishing service Shutterfly for $23.8 million. The deal includes the transfer of Gallery ...more »

Internal Investigative Services
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PFT: Saints GM caught lying about bounty program
NBCSports.comMarch 3, 2012

According to a report from Don Banks of, Saints GM Mickey Loomis got caught lying to both Saints owner Tom Benson and those conducting the NFL's internal investigation of the Saints' bounty program. Loomis reportedly was asked about the Saints' ...more »

Commercial Leasing
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The fall of Wendy Machanik 1, 2012

Not only has she admitted in the commercial crimes court to being in financial distress, creditors, among them Standard Bank, the SA Revenue Service and former Netcare chairman Motty Sacks, have all moved to either own or be part of the liquidation of ...more »

International Transactions
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TGI International Ltd. Launches Tender Offer and Consent Solicitation via ...
MarketWatch (press release)March 1, 2012

(the "Company"), an exempted company with limited liability incorporated under the laws of the Cayman Islands, today announced that it has commenced a tender offer to purchase for cash (the "Offer to Purchase") all of its outstanding US$750000000 of ...more »

Communications & Media
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T-Ara's Record Label Sues Illegal Distributors
KpopStarzMarch 2, 2012

On the 29th of February, Core Contents Media filed a law suit against two companies who have been illegally distributing their artists' songs internationally. Core Contents Media is the record label for famous artists like T-Ara and Davichi.more »

Marriage- Little value in states' license
Springfield News-LeaderMarch 1, 2012

After the Civil War the US made licensing a matter of law. That was to control who married who, as in prohibiting mixing the races, etc. At one time blood tests were required to check on STDs prior to a license being issued. This has been rescinded.more »

Construction & Development
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How to get legal credits in one place, at one time
Smart Business NetworkMarch 1, 2012

Julie Savarino, managing director of Business Development Inc., will be presenting two nationally acclaimed sessions: “Mastering the 'Sales' Process for Lawyers,” and “Secrets of Success from Leading Women Lawyers.” “Law is a practice, ...more »

Locating Funds
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Law provides dollar-for-dollar tax credit
YourWestValley.comMarch 1, 2012

Jan Brewer signed legislation Wednesday to allow individuals to divert more money they would otherwise owe the state to instead help children attend private and parochial schools. The new law provides a dollar-for-dollar income tax credit of up to $500 ...more »

Contracts Involving State & Minicipality
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Miami Valley crime lab losing business to state
Dayton Daily NewsMarch 1, 2012

The Ohio Bureau of Criminal Identification and Investigation (BCI) provides free testing for police, sheriff's departments and prosecutors at its laboratory in London. For some jurisdictions, the transportation costs involved in using the London lab ...more »

Mergers, Acquisitions & Divestitures
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BCE buys Astral in $3.38 billion media blockbuster
Toronto StarMarch 16, 2012

The deal, one of the largest media mergers in Canadian history, also faces a review by the federal Competition Bureau and the Canadian Radio-television and Telecommunications Commission. The stock and cash deal announced Friday gives BCE a bigger stake ...more »

Controlled Substances Law
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Convicted felon sentenced to prison in Arizona
NECNMarch 17, 2012

During processing at the Willcox Station, agents using a fingerprint database learned Gonzalez-Sandoval was convicted in Georgia's Cobb County in 2006 for felony violation of the controlled substance act and felony possession of a firearm during the ...more »

Mortgages & Foreclosures
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Barry Ritholtz: Foreclosure settlement an epic failure of law
Capital Times (blog)March 3, 2012

NEW YORK — After many months of wrangling, a foreclosure settlement has been reached between 49 state attorneys general and a consortium of banks. It is an epic failure of law and a triumph for bank attorneys. It will accomplish little of value.more »

Corporate Finance & Taxation
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Real Estate Q&A: The 4 keys to mortgage modification
Kansas City StarMarch 1, 2012

Do I call a law firm? A real estate agent? A loan modification company? Who? A: Call a lawyer experienced in dealing with struggling homeowners. He or she will help you figure out a strategy that may involve a short sale or a loan modification.more »

Non-Profit Corporations
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Occupy protesters target law, lobbying firm
Kennebec JournalMarch 1, 2012

Members of Occupy Augusta picket Wednesday in front of the Augusta offices of the law and lobbying firm Preti Flaherty. Occupy wanted to raise attention about corporate influence on the political process during its noon time demonstration.more »

Creditor's Rights
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Derecktor's financial problems hit New York
Danbury News TimesMarch 1, 2012

Photo: Contributed Photo, ST / Connecticut Post Contributed Derecktor, the yacht builder that has gone bankrupt twice in Connecticut, and now also in New York as its shipyard there seeks Chapter 11 protection, is finished in Bridgeport, according to a ...more »

Professional Corporations
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Bill Carter Named CEO and President of ALM
Corporate CounselMarch 5, 2012

He was most recently a senior vice president at Thomson Reuters, where for two years he led the Small Law Business Unit. In that role, Carter oversaw services for law firms of 1 to 29 attorneys, including publications, software and legal research ...more »

Customs Disputes
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Morgan Stanley, Hyposwiss, Stanford, Apple, CIFG, Cantor in Court News
BloombergMarch 1, 2012

The EPA argued in court filings that the tailoring rule is acceptable under the Clean Air Act and necessary to avoid states being overrun with permit requests. The case is Coalition for Responsible Regulation Inc. v. Environmental Protection Agency ...more »

Public Offerings
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Woyome's lawyer slams Martin Amidu: He is misleading the public
allghananews.comMarch 2, 2012

Mr Rockson-Nelson Dafeamekpor, Counsel for beleaguered businessman Alfred Agbesi Woyome, is fuming over what he says is the latest 'misleading' statement put out by ex-Attorney General, Martin Amidu, and accused him of scheming against Mr Woyome.more »

Debt Collection
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Stockton mediation first case under new Calif. law
Ventura County StarMarch 1, 2012

(AP) - Beleaguered Stockton is the first California city to test a new union-backed law aimed at protecting public employee contracts by making it harder for municipalities to file bankruptcy. Stockton is trying to avoid becoming the most populous US ...more »

Reorganizations & Restructuring
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First Uranium announces the sale of all of its principal operating assets ...
MarketWatch (press release)March 2, 2012

... subject to the fulfillment of a number of conditions precedent including: (a) approval of the AGA Transaction by the shareholders of the Company; (b) release of all security against the assets of MWS including under the Secured Convertible Cdn $110 ...more »

Debt Settlement
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Deutsche Bank Rejects Kirch Deal
Wall Street JournalMarch 1, 2012

Kirch, a Deutsche Bank client, sued the bank, accusing Mr. Breuer of violating his right to confidentiality under German banking laws. Mr. Kirch also alleged Mr. Breuer sought to damage his company in order to obtain a lucrative deal to split up the ...more »

State & Minicipal Bonds
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Simmons Law Firm Pledges $25000 to Help Union Workers Through Labor Council's ...
MarketWatch (press release)March 1, 2012

ALTON, Ill., Mar 01, 2012 (BUSINESS WIRE) -- The Simmons Firm, one of the St. Louis region's largest personal injury law firms, has announced a new fundraising effort to match donations up to $25000 to the Greater St. Louis Labor Council's "$5 for the ...more »

Directors' & Officers' Liability
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BANKRUPTCY WEEK AHEAD: Dodgers, Stow Attorneys To Meet In Court
NASDAQMarch 2, 2012

s (EKDKQ) Chapter 11 bankruptcy halted. The maker of computers, music players and smartphones said it fears that a disputed digital-imaging patent may be among the treasure trove of patents that are fated for sale in Kodak's restructuring.more »

Trade Associations
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Behind the Crackdown on Insider Trading
New York TimesMarch 1, 2012

If anyone had not already realized it, insider trading is the “hot” white-collar crime these days. Look no further than the new public service announcement by Michael Douglas — and his character Gordon Gekko — disclaiming that “greed is good” by ...more »

False Advertising
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Global Internet Services Industry
Sacramento BeeMarch 1, 2012

The report offers a rudimentary overview of the industry with an on-the-fly focus on broadband services, and details trends such as, increased broadband penetration and growth in e-Commerce applications and online advertising.more »

Unfair Competition
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CCI accuses DLF of imposing unfair conditions on Magnolia flat owners in Gurgaon
Economic TimesMarch 12, 2012

The Magnolia Flat Owners' Association had filed a complaint against DLF Universal, Haryana Urban Development Authority and the Director Town and Country Planning, Haryana, with the Competition Commission of India (CCI). In his report, the director ...more »

Federal Contracts
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After Deepwater
NEWS.GNOM.ES (press release)March 1, 2012

He noted in a follow-up email that the Coast Guard evaluated all relevant details of Lockheed Martin's and Northrop Grumman's work on Deepwater and both meet the Federal Acquisition Regulation criteria for eligible contractors.more »

Venture Capital
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Intel Capital announces $100 million new fund to invest in...
SiliconValley.comMarch 1, 2012

Intel's (INTC) venture capital arm Wednesday announced a $100 million fund to invest in "connected car" technology. "The car is the ultimate mobile device," said Staci Palmer, general manager of Intel's Automotive Solutions Division.more »


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