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In the Courts
Former CFO of Bankrate Sentenced to 10 Years in Prison for $25 Million Fraud Scheme
In September 2014, Bankrate, Inc. (Bankrate), a consumer financial and marketing company, disclosed a Securities and Exchange Commission (SEC) investigation into accounting from 2012. In making this announcement, Bankrate also indicated that its 2011 and 2013 finances may also be unreliable. Edward DiMaria, Bankrate's Chief Financial Officer at the time, also stepped down after eight years serving in that role. However, he remained a senior vice president.
As early as 2015, in addition to DiMaria, the SEC also accused Bankrate's former vice president of finance (Hyunjin Lerner) and its former accounting director (Matthew Gamsey) of participation in a fraud scheme. After pleading guilty, Lerner was sentenced to 60 months in prison and both DiMaria and Gamsey reached settlements with the SEC. The same year, the company also agreed to pay $15 million to the SEC related to the improper accounting practices.
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The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.