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In The Marketplace
Injunction Sought Against Leasing Companies: The putative plaintiffs in the class action lawsuit brought against various telecommunications leasing companies who were assignees of leases and equipment rental agreements entered into between individuals and businesses and the telecommunications company Norvergence, Inc. have moved for a preliminary injunction against the lease assignees. The injunction seeks to enjoin the assignees from enforcing any equipment rental agreements assigned to them by Norvergence, or from commencing suit against Norvergence customers for payments under the leases. They are attempting to certify a nationwide class of those persons and entities who leased telecommunication and/or network computer equipment from Norvergence, which then assigned its leases to various leasing companies. The lawsuit alleges that the leases violated various state and federal statutes including the Consumer Fraud Act, the FTC Holder Rule, the Truth-in-Consumer Contracts, Warranty & Notice Act, and that the leases constitute breaches of contract, and breaches of implied and express warranty. The suit seeks cancellation of the leases, disgorgement of lease payments and a declaratory judgment concerning the unenforceability of the leases. It names approximately 26 lease financing companies as defendants.
Interim Rules Freeze Rates for Phone-Network Leasing: U.S. communications regulators have issued interim rules that would freeze for 6 months the wholesale rates for leasing access to the major U.S. local telephone networks. The Federal Communications Commission had required the four major local telephone carriers to lease network access to rivals at government-set rates in order to promote competition for local service, but an appeals court in March threw out the rules. The FCC has been trying to draft new regulations and in the interim ordered the Bells to keep the rates at the current prices while final rules were hashed out. The Bells had argued that the prices set were below cost. The agency voted 3-2 for the new rules in July, but the details were not released until August 20.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.