Corporate Law

N.Y. PI Firm in Evidence Scandal Can Sue Its Own Counsel for Malpractice

A 1986 lawsuit by New York City alleging falsification of evidence by attorneys at what was once a top personal injury law firm there isn’t yet completely resolved. The accused law firm can sue its defense counsel in the city’s tort claim for malpractice, a state appeals court has decided,…

Jun 27, 2008 7:29 PM CDT

Bill to Ban DOJ Privilege Attack on Corps. Will Pass, Backers Predict

A growing weight of support for federal legislation that seeks to curtail a controversial Justice Department practice of requiring corporations to waive attorney-client privilege has reportedly persuaded backers that it is likely to pass, sooner or later. The bill, which has already been passed by the House of Representatives, is…

Jun 25, 2008 8:04 PM CDT

32 Ex-US Attorneys Ask Senate to Bolster Corporate Attorney-Client Privilege

Adding, for the first time, insider Justice Department protests to a growing weight of concern about the McNulty memo, a bipartisan group of 32 former U.S. attorneys has sent a letter asking the Senate Judiciary Committee to vote for a bill that would shore up attorney-client protections for corporations. At…

Jun 23, 2008 8:40 PM CDT

PR Experts, Lawyers Mapped Tort Reform Strategy in Gibson Dunn Meeting

The U.S. Chamber of Commerce’s public relations strategy to change tort law had its genesis in a meeting held at Gibson Dunn & Crutcher around nine years ago. The strategy includes judicial campaign contributions, advertising seeking to influence voters, and lawmaker lobbying, the New York Times reports. An annual list…

Jun 23, 2008 11:34 AM CDT

9th Circuit to Employers: Don’t Look at Workers’ Text Messages

Venturing into what a federal appeals court panel described as a new frontier of electronic communications law, the San Francisco-based 9th Circuit U.S. Court of Appeals decided today that employers have no right to read their employees’ text messages without their consent. Plus, even if employers pay for the service,…

Jun 18, 2008 10:03 PM CDT

Cos. Want to Dose Activist Investors With Stronger Poison Pill

In an attempt to to reduce the influence of activist shareholders who may try to take over control of a company without actually purchasing traditional stock, some corporations are taking measures to strengthen the so-called “poison pill” many employ to make such takeovers difficult. “Louisiana-Pacific Corp. and Micrel Inc. have…

Jun 18, 2008 6:51 PM CDT

Imperial US Extraterritorialism is Abusive, UK Lawyer Says

Extraterritorialism, or the practice of seeking to enforce a country’s laws beyond that country’s geographic borders, isn’t necessarily bad. But it is being abused by U.S. authorities seeking to prosecute foreign citizens for, among other conduct, gambling activities that might not be illegal if they were conducted by American citizens…

Jun 17, 2008 8:20 PM CDT

IRS Battles Billionaire Anschutz in $144M Capital Gains Case

Was it a “variable prepaid forward contract”? Or was it an actual sale of stock? That is the central question in a battle royal between billionaire Philip Anschutz, reportedly one of the 50 richest men in the world, and the Internal Revenue Service. It is seeking to force the Denver-based…

Jun 9, 2008 5:54 PM CDT

‘Convergence’ Can Benefit Law Firms as Well as Corporate Clients

After the apparent success of Tyco International’s grand experiment in legal cost-cutting in Europe, which is now in its second year, further innovation is expected both from Tyco and other major corporations. The “convergence” model applied by Tyco, which DuPont is credited with initially adopting more than a decade ago,…

Jun 6, 2008 10:36 PM CDT

Brocade Stock Options Backdating Bill: $160M, Biggest So Far

Brocade Communications Systems Inc. has agreed to pay $160 million to settle a class action over stock options backdating in the biggest such settlement so far in a series of similar cases against other corporations. It must still be approved by the court before it is final. The settlement follows…

Jun 2, 2008 9:50 PM CDT

Ex-Partner of Baker & McKenzie Indicted in $1.3M Client Theft Case

A former corporate partner in Baker & McKenzie’s New York office has been indicted for allegedly stealing $1.3 million from a client trust account. The money reportedly represents interest earned from a $30 million escrow account. However, an attorney for Martin Weisberg says the money was a loan and has…

May 27, 2008 8:53 PM CDT

FBI Report: Many More Corporate, Mortgage & Securities Cases Last Year

There’s no shortage of work for FBI agents, as the agency has revved up its investigations of alleged corporate, mortgage and securities wrongdoing in recent years. The Federal Bureau of Investigation reports that the number of corporate fraud investigations last year, 529, was nearly double the figure for five years…

May 23, 2008 6:30 PM CDT

More Tyco Work for BigLaw UK Firm Under Unusual Billing Scheme

A major U.K.-based international law firm stands to get a six-figure bonus this year from a corporate client if it meets certain goals, including having women comprise at least 25 percent of its 2009 class of new partners. Eversheds will also see a fatter paycheck if it reduces Tyco’s litigation…

May 20, 2008 6:44 PM CDT

Experts Explain: How to Help Company Records Custodians Help You

Lawyers seeking documents from corporate records custodians will find that time spent explaining their requests pays dividends. Although the litigation process may seem clear to the attorneys involved, it can be an unusual, confusing and frightening experience for the company employees asked to provide documents in discovery, two experts point…

May 16, 2008 8:13 PM CDT

It’s Official: Carl Icahn Will Lead Yahoo Proxy Fight Seeking Microsoft Deal

Updated: Billionaire activist investor Carl Icahn has definitely decided to lead a proxy fight for control of the Yahoo Inc. board, according to news reports, and some observers are predicting that he could win his campaign. The campaign is of particular interest to mergers and acquisition lawyers in a slow…

May 14, 2008 10:45 PM CDT