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In June, the Supreme Court unanimously held that Enron's former CEO Jeffrey Skilling did not commit “honest services” fraud, ruling that the statute under which he was convicted must be limited to bribery and kickback schemes to avoid constitutional concerns over vagueness. Skilling v. United States, 130 S. Ct. 2896 (2010). The defense bar was heartened by these restrictions on a statute that federal prosecutors have used aggressively for years against public officials and more recently against corporate officers. The decision should curtail prosecution of a variety of conduct that the government would otherwise seek to criminalize through the statute. In contrast, the courts are expanding the reach of other criminal statutes to encompass conduct previously regarded as outside their scope.
United States v. Kaiser
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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.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.