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After Anthem, Diagnosing the Health of Data Security
February 28, 2015
Companies have begun to experience attempts to breach their databases on a frequent basis, and have had to become hypervigilant about protecting their networks against hackers. But once every couple of months, the bad guys get through the defense systems in a big and highly publicized way, showcasing data disaster for company and customers. This was the case in early February when Anthem Inc., the second-largest health insurance company in the U.S., announced it had been hacked.
Obama Calls for Industry's Cooperation On Cybersecurity
February 28, 2015
President Barack Obama signed an executive order on Feb. 13 promoting information-sharing between the private sector and the government in an effort to combat the rising number of security hacks and data breaches.
Castle Defense
February 28, 2015
The battle over expert testimony on patent damages harkens back to the middle ages when would-be attackers developed new strategies for laying siege to a castle, defensive counter-measures were developed to thwart those siege tactics. As plaintiffs have introduced expert testimony based on novel patent damages theories, defendants have asked courts to fulfill their gatekeeping role by preventing certain types of expert testimony from reaching the jury.
Identity Theft and Your Income Taxes
February 28, 2015
In 2013, 13.1 million people were victims of some sort of identity-theft. Often, you may think of identity theft as being confined to credit card or ATM fraud, yet there is an epidemic of fraudulent electronically filed tax returns. Identity-related tax fraud is the third-largest theft of federal funds after Medicare/Medicaid and unemployment-insurance fraud.
How to Obtain Social Media Data For Defending Lawsuits
February 28, 2015
Obtaining social media user content under most circumstances is extremely difficult ' unless you use the correct strategy. Simply sending discovery requests without a basic understanding of the information available is a fool's errand. It is pivotal that a practitioner who wants to conduct formal discovery of social media user content understand how each site stores and communicates its data.
<b><i>Online Extra</b></i> FTC Cracks Down on Online Reviews
February 27, 2015
A company that touted its online reviews without mentioning that it gave customers who wrote them a discount settled deceptive advertising charges with the Federal Trade Commission on Feb. 27.
<b><i>Online Extra</b></i> Ninth Circuit Agrees to Revisit Ruling in Model Rape Case
February 27, 2015
With urging from Facebook, Craigslist, eBay and others, the Ninth Circuit has agreed to reconsider a controversial ruling about website operators' duty to warn about potential harm by third parties.
<b><i>Online Extra</b></i> Troll or Copyright Crusader? Freeplay Trades Lawsuits with YouTube Giants
February 27, 2015
A week after being labelled a 'troll' for allegedly extorting licensing fees from businesses that manage YouTube video channels, the music publisher Freeplay Music Inc. showed it's nowhere near backing down from enforcing its copyrights.
<b><i>Online Extra</b></i> Suit Over Teacher's Anti-Gay Facebook Comments Can Proceed
February 27, 2015
A teacher in Union Township in Union County, NJ, who faced tenure charges over her anti-gay postings on Facebook can proceed with her civil rights suit against the school district, a federal judge in Newark has ruled.
<b><i>Online Extra</b></i>FCC Approves Net Neutrality Proposal
February 27, 2015
By a 3-to-2 vote, the Federal Communications Commission on Feb. 26 approved a significant change in rules to promote 'net neutrality.'

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  • Private Equity Valuation: A Significant Decision
    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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