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Can A Private Citizen Perform An Official Act? Image

Can A Private Citizen Perform An Official Act?

Harry Sandick & George Fleming

This article discusses the importance of the "official act" requirement established in McDonnell v. United States, and how its logic should lead to a parallel requirement that private citizens should not be chargeable with the commission of official acts as part of a scheme to deprive the public of honest services.

Features

Being Selective: How Companies May Best Protect Privilege When Cooperating With a Government Investigation Image

Being Selective: How Companies May Best Protect Privilege When Cooperating With a Government Investigation

Jonathan B. New, Patrick T. Campbell & Francesca Rogo

This article explores a key consideration for companies under government investigation: whether voluntary disclosure of privileged information in an effort to obtain cooperation credit waives the privilege vis-à-vis third parties in subsequent litigation.

Features

New State Statutes and Federal Guidelines Create Basket Weave of Cybersecurity Compliance Image

New State Statutes and Federal Guidelines Create Basket Weave of Cybersecurity Compliance

Kenya Parrish-Dixon

The U.S. doesn't have a federal cybersecurity law, but that doesn't mean there is no cybersecurity industry standard. There are regulations, case law, guidelines and state laws that, when combined, create an industry standard applicable to almost all business sectors.

Features

New York Cannabis Law's Lease Mandate Catch-22 Image

New York Cannabis Law's Lease Mandate Catch-22

Marjorie J. Peerce, Michael P. Robotti & Kamera Boyd

New York's recently enacted cannabis law, the Marijuana Regulation and Taxation of 2021 (MRTA), created a maze of new legal requirements that affect not only cannabis companies, but also the companies that conduct business with them.

Features

Appellate Court Holds FCC Penalty Claim Survives Chapter 11 Corporate Debtor's Discharge Image

Appellate Court Holds FCC Penalty Claim Survives Chapter 11 Corporate Debtor's Discharge

Michael L. Cook

A Chapter 11 corporate debtor's monetary penalty obligation owed to the FCC, resulting from "fraud on consumers," survived the debtor's reorganization plan discharge, even when the FCC "was not a victim of the fraud," the U.S. District Court for the Southern District of New York recently held.

Features

Ransomware Insurance: Understanding the Developing Legal & Regulatory Landscape Image

Ransomware Insurance: Understanding the Developing Legal & Regulatory Landscape

J. Andrew Moss, David M. Cummings & Jessica E. Gopiao

In light of the ever-growing ransomware threat, it is important to understand the developing legal and regulatory landscape in order to take the proper steps at the first sign of an attack, including getting the insurance company involved immediately.

Features

Disclosure of Investigations: Whether and When for Public Companies Image

Disclosure of Investigations: Whether and When for Public Companies

Jacqueline C. Wolff & Karin M. Bell

You should be thinking about disclosure long before you even hear from a whistleblower, specifically, in terms of setting up policies and procedures governing how to handle the information flow from the investigative side of the house to the disclosure side.

Features

Smoke & Mirrors: The New York Cannabis Law's Illusory Lease Mandate Image

Smoke & Mirrors: The New York Cannabis Law's Illusory Lease Mandate

Marjorie J. Peerce, Michael P. Robotti & Kamera Boyd

New York's recently enacted cannabis law, the Marijuana Regulation and Taxation of 2021 (MRTA), created a maze of new legal requirements. These provisions affect not only cannabis companies, but also the companies that conduct business with them.

Features

As Federal Antitrust Prosecutions Rise, Potential Criminal Pitfalls Loom for HR Professionals Image

As Federal Antitrust Prosecutions Rise, Potential Criminal Pitfalls Loom for HR Professionals

Laily Sheybani

The Biden administration seeks to position itself as one that will crack down on employers' attempts to limit their employees' mobility and pay through allegedly non-competitive measures.

Features

Appellate Division Upholds West Side Tower Image

Appellate Division Upholds West Side Tower

Stewart E. Sterk

In a dispute over West Side development, the First Department handed a victory to developers seeking to build a 39-story building on the block between West 65th and West 66th Street, and Columbus Avenue and Central Park West.

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    Insiders (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.
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