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401(k) Participants May Sue for Breach of Fiduciary Duty
In a closely watched case arising under the Employee Retirement Income Security Act of 1974, as amended ('ERISA'), the U.S. Supreme Court recently clarified the right of employees to sue plan fiduciaries for mismanaging their individual 401(k) accounts. <i>LaRue v. DeWolff, Boberg & Associates, Inc.</i>, 128 S. Ct. 467, 42 EBC 2857 (2008)
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Attorney-Client Privilege
This article examines two issues that can arise when a company and its former officer or director are adverse to each other and one seeks access to potentially privileged documents of the other.
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Lawyers and Money Laundering
While the duty of lawyers representing financial institutions in the U.S. is almost solely toward their clients, in the EU, lawyers have affirmative obligations to report suspected money-laundering activity to government authorities. In other words, lawyers may be involuntarily conscripted as enforcement agents or 'gatekeepers' at the institutions they represent. American lawyers in the European offices of U.S.-based 'international' law firms are not exempt.
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<b>BREAKING NEWS:</b> CA Marriage Ruling Makes History
On a blast-furnace of a day when normally chilly San Francisco hit 96 degrees, the California Supreme Court enhanced its reputation as a trail-blazing institution on May 15 by giving gays and lesbians the right to marry. 'The California Constitution,' Chief Justice Ronald George wrote in the 4-3 ruling, 'properly must be interpreted to guarantee this basic civil right to all Californians, whether gay or heterosexual, and to same-sex couples as well as to opposite-sex couples.'
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<B>BREAKING NEWS</b> 11th Circuit OKs Suit Based on Sexual Language in Office
In a rare win for a plaintiff alleging employment discrimination, the 11th U.S. Circuit Court of Appeals has held that a woman can bring a harassment claim for language not referring specifically to her.
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Insurer Claim Files: Privilege and Work-Product Protection
This article surveys some of the ways that courts have approached the issues of privilege and work product protection for insurer claim files.
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<b>Decision of Note:</b> 'Video' License Encompassed Mobile Delivery
The Appellate Court of Illinois decided that a license to use the trademark 'March Madness' 'to advertise, promote, and sell publications, videos, and media broadcasts' included the right to deliver on-demand video content to mobile wireless devices.
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Artist Consultant/Unfair-Competition Claim<br>Insurance/Intra-Band Litigation<br>Royalty Complaint/Ringtone and Download Licenses<br>TV-Affiliation Agreements/Promotional Payments
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CHARACTER RIGHTS/COPYRIGHT TERMINATION<br>FILM PRODUCTION/COPYRIGHT CLAIMS<br>FILM PRODUCTION/RIGHT-OF-PUBLICITY<br>RIGHTS IN BAND NAMES/TRADEMARK CLAIMS
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- Private Equity Valuation: A Significant DecisionInsiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.Read More ›
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- Use of Deferred Prosecution Agreements In White Collar InvestigationsThis 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.Read More ›
- The DOJ Goes Phishing: The Rise of False Claims Act Cybersecurity LitigationWhile the DOJ Civil Cyber-Fraud Initiative is still in its early stages and cybersecurity regulations are evolving, whistleblower plaintiffs have already begun leveraging the FCA to pursue alleged noncompliance with government cybersecurity requirements.Read More ›