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Consumer Review Legislation, Litigation Appear On the Horizon
Viewing, evaluating, or even writing consumer reviews, has become a ubiquitous element of the present day Internet experience for most users, particularly in urban areas such as New York City, in which a surfeit of dining, nightlife and cultural options often render the city dweller powerless to make an informed choice without the recommendations of similarly situated consumers. The reviews of fellow travelers have been recognized by the media, and even Congress, as a materially beneficial aspect for most Web users. Authentic customer reviews manifest indicia of reliability and candor that are believed not to be present in reviews that are motivated by financial interest, though many review sites do contain numerous reviews from advertisers masquerading as objective consumers.
The most prominent of such sites, Yelp.com, which allows users to read as well as create reviews of myriad businesses they patronize or even happen to walk by on a given day, averages 142 million unique visitors per month, and its users post upwards of 90 million reviews per year. Types of reviewable business have expanded since Yelp's founding in 2004 to include local prisons, traffic lights and Yelp itself (as of this writing, the site maintains a rating of 2.5 stars based on 7,793 reviews).
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 ...."