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Christine A. Varney is leaving the Justice Department to join a private law firm at a time when the division she led is pressing ahead with major corporate cases. Christine A. Varney, the U.S. government's top antitrust lawyer, is leaving the Justice Department to join a private law firm at a time when the division she led was beginning to press ahead with major corporate cases.
NEW YORK (Reuters) - A federal judge dismissed a whistleblower lawsuit by a former JPMorgan Chase & Co. private banker who said she was fired for questioning the dealings of a lucrative client. S. District Judge Robert Sweet nonetheless offered a broad view of protections offered to whistleblowers under the Sarbanes-Oxley corporate governance law, saying they cover cases involving alleged wrongdoing by a third party, not just by an employer.
Katherine M. Smith has joined Reeg Lawyers, a corporate litigation defense law firm headquartered in Clayton. Smith has extensive litigation experience in cases involving both first and third-party insurance law. She is routinely called upon by insurers for her comprehensive knowledge and understanding of Missouri's Motor Vehicle Financial Responsibility Law and Missouri's Valued Policy Statutes. Smith is also regularly retained by national insurance companies to defend their insureds in cases involving personal injury, construction and premises liability.
This Article examines the factors contributing to the decline of the derivative suit and evaluates whether corporations and their shareholders are better off as a result. To assess the state of derivative litigation today, it surveys opinions involving derivative suits involving Delaware corporations brought in federal and Delaware courts. In all, 294 cases are considered. Corporate control has substantial value, as recognized by both the law and the marketplace. Yet the legal limitations on that value depend on the vague precepts of fiduciary obligation. Derivative litigation performs not only the task of righting particular wrongs but also of translating these general precepts into tangible rules. These rules well may be the most exportable part of US corporate governance. Outside the...
NEW YORK, July 18, 2011 /PRNewswire/ -- While Foreign Corrupt Practices Act (FCPA) prosecutions in the United States continued apace, the first half of 2011 showed some signs that judicial decisions and congressional scrutiny were leading to more - or, in some cases, less - clarity concerning the scope of the statute and the government's enforcement policy, according to global law firm Shearman & Sterling's semiannual report, "Recent Trends and Patterns in FCPA Enforcement," part of the firm's widely distributed FCPA Digest. Although the US government continues to collect record and headline-making fines in some FCPA prosecutions, the average corporate penalty continues to be relatively moderate, the analysis found. At the same time, overseas developments, particularly the coming into f...
When unknown scammers set up phony bank accounts in the name of legitimate state vendors and snagged nearly $2 million in West Virginia funds, they perpetrated a rare variation of a familiar scam: They stole the identities of companies rather than individuals. It's rare enough that federal law enforcement agencies don't have separate statistics for cases of corporate identity theft, but when they do occur they can involve millions of dollars in potential losses.
If there's one lesson to be learned from Harriet Miers' doomed Supreme Court nomination, it's this: Do not pick anyone unless he or she has a clear judicial philosophy that can endure the grueling punishment of a senatorial gauntlet. I admired the story of Miss Miers' extraordinary climb up the career ladder in the male-dominated world of law to head the Dallas bar, the Texas bar, the head of a major, 400-member law firm and even come close to heading the ABA itself. There was also her remarkable work ethic, her ability to master complicated legal cases in corporate law and the sweeping issues, judicial and otherwise, that she had to deal with as chief White House counsel to President Bush, not to mention her deep religious values.
We develop a theory to explain the uses and abuses of representative shareholder litigation based on its two most important underlying characteristics: the multiple sources of the legal rights being redressed (creating dynamic opportunities for arbitrage) and the ability of multiple shareholders to seek to represent the collective group in such litigation (creating increased risk of litigation agency costs by those representatives and their attorneys). Placed against the backdrop of controlling managerial agency costs, our theory predicts that: (1) the relative strength of the different forms of shareholder litigation will shiftover time, (2) these shifts can result in new avenues for the shareholders to express litigation power, (3) new agents will emerge to act on shareholders' behalf...
... areas.5 To be truly effective, however, corporate law scholarship needs to give a picture of the who... and the perception that more frivolous cases were being filed too quickly while meritorious cas...
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