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Goldman Sachs Argues Dukes Ruling
Goldman Sachs struck out in July when it cited the U.S. Supreme Court's decision in Concepcion v. AT&T Mobility in an attempt to defeat part of a high-profile sex discrimination class action. Luckily, the Supreme Court issued more than one big ruling on class actions in its last term.
Now Goldman's lawyers have cited Dukes v. Wal-Mart Stores to try to extinguish the plaintiffs' class discrimination claims altogether. In a 19-page motion based almost entirely on Dukes, Goldman urged a Manhattan federal district court judge to strike class claims brought by three former female employees, asserting that they “mimic” the Dukes plaintiffs' failed class allegations. The Dukes decision “redefined the employment landscape,” Goldman argues, ensuring that the women's claims “cannot survive.”
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.
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.
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.
Second Circuit Reinforces Bankruptcy Code Settlement Payment Safe Harbor
The Second Circuit affirmed the lower courts' judgment that a "transfer made … in connection with a securities contract … by a qualifying financial institution" was entitled "to the protection of ... §546 (e)'s safe harbor ...."