Commercial Law

Features

The U.S. Court of Appeals for the Ninth Circuit upheld a copyright infringement verdict against the great-grandson of artist Pierre-Auguste Renoir in a fight over the right to reproduce sculptures created by the French impressionist. The appeals court noted that stare decisis required it to follow its controversial 1996 precedent regarding Walt Disney's copyright for Bambi. Although that ruling "can be, and has been, criticized, it is still binding in this circuit. We are thus bound to follow it," the court said.

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In December, U.S. District Judge Stephen Larson of the Central District of California granted Mattel a sweeping injunction that essentially shuts down MGA's Bratz operation. Larson ordered MGA to cease manufacturing, marketing and selling almost every doll in the Bratz line, as well as any ancillary product that makes use of images of those dolls. He also ordered MGA, at its own expense, to deliver all infringing dolls and products to Mattel for impoundment.

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This article examines the accounting principles and the framework underlying fair value measurements and clarifies the difference between mark-to-market accounting and fair value accounting. The article then examines the application of fair value accounting in inactive or illiquid markets, and in doing so, raises certain thematic issues that have surfaced in regard to this topic.

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For a litigator accustomed to practicing in court, representing a client in a Congressional investigation presents unique challenges, as the rules, procedures, processes, and customs differ vastly. One area of stark difference is the status and treatment of attorney-client privilege.

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Proposed changes to accounting rules for securitization vehicles will further challenge this already fragile market, threatening its role as a significant source of liquidity.

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In the first case to interpret the latest amendment to a perplexing New York matrimonial statute, a state judge has ruled that a Long Island woman may challenge the validity of her postnuptial agreement 12 years after it was signed, notwithstanding the three-year statute of limitations.

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Recent happenings in the pharmaceutical arena.

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While some courts have allowed the use of race- and socio-economic-based statistical evidence when computing damages in tort actions, others have expressly rejected the use of such statistical evidence, questioning the appropriateness, reliability, and fairness of this evidence when used in this way.