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Google May Have Illegally Issued Employees Shares
Web search giant Google Inc. recently admitted that it may have illegally issued as much as $3.1 billion in shares after its planned initial public offering (IPO), and offered to buy them back at a significant discount.
The potential contretemp, disclosed in a filing with the U.S. Securities and Exchange Commission this month, precedes Google's highly anticipated IPO, which could raise as much as $3.3 billion and could take place at almost any time (and may even have done so before you read this).
The company said it sold 23.2 million shares to 1105 current and former employees and consultants and granted an additional 5.6 million stock options to 301 people. The transactions took place between September 2001 and June 2004 and were not registered, as required by law, Google said.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
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Legal Possession: What Does It Mean?
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The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?