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The Pitfalls and Prospects of Bank Prosecutions
The past two years have seen the largest number of bank failures in recent U.S. history, with 157 in 2010 alone, as a result of the collapse of the housing and subprime mortgage markets (as of Dec. 22, 2010, FDIC Failed Bank List, http://www.fdic.gov/bank/individual/failed/banklist.html). These failures led to the Federal Deposit Insurance Corporation's (FDIC) November 2010 announcement of 50 criminal investigations into the activities of former executives, directors and employees of failed banks. Jean Eaglesham, U.S. Sets Fifty Bank Probes, Wall St. J., Nov. 17, 2010. The DOJ Criminal Division also has announced the creation of its Money Laundering and Bank Integrity Unit, which reiterated that financial crimes, and financial institution matters, remain top priorities.
Notwithstanding these announcements, other considerations suggest that a dramatic increase in criminal prosecutions of financial institution directors and officers is not likely.
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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
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 So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
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?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
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.