Fiduciary Duties Owed to Subsidiary
August 30, 2006
On June 23, 2006, the jurisdiction that invented the 'zone of insolvency' delivered its latest lesson on the fiduciary duties of directors and officers of insolvent companies. The Delaware Bankruptcy Court, in <i>In re Scott Acquisition Corp.</i>, ___ B.R. at ____, 2006 WL 1731277 (Bankr. D.Del. 2006), ruled that directors and officers of insolvent subsidiary companies owe fiduciary duties to both its creditors and the subsidiary itself. Before this, leading cases on this issue held that fiduciary duties were owed only to creditors and the single-shareholder, parent companies. Though the decision stands on some firm legal ground, it is sure to create more uncertainty and doubt in the boardroom.
Thelen Reid to Get Its China License
August 29, 2006
Thelen Reid & Priest will receive its license to practice in China at a ceremony in Beijing on August 30, a sign of thawing in what was seen as a freeze on the government issuing licenses to foreign firms.
CD: 10/3/06 - Integrating and Maximizing Business Development Training
August 24, 2006
Business development training requires a significant commitment of time and resources, and a vision of where participants in such a program want to be in their practice. A number of law firms have learned the hard way that simply providing a sales or coaching program does not necessarily guarantee results. Learn what it takes to implement the necessary strategies to get the most from your training efforts.
Privacy and Brazilian Law
August 16, 2006
The need for laws written expressly to protect the privacy of personal consumer data is a growing global phenomenon. It began primarily in more technologically advanced countries, where communication between individuals or companies via electronic means has overtaken more traditional means of communication. In addition, countries that place a high level of importance on democratic values also tend to prioritize protection of privacy, given that individual human rights and individual freedoms are typically important values in such societies. A third relevant factor related to a country's focus on protecting privacy is the level of participation a country's citizens have in the market. A country in which its citizens participate actively in the market has a greater need for the collection, storage, sorting, sharing, and other manipulation of consumer data. Therefore, such countries become a target for individuals or organizations wishing to economically tap such information.
<b>Online Exclusive:</b> Best Practices for E-mail Security
August 15, 2006
E-mail has a tremendous potential to become the source of leakage of information from any organization, but chief security officers are rapidly taking advantage of new technologies to stop leaks while enabling the flow of appropriate information.
<b>Online Exclusive:</b> GAO Report Finds Gaps, Loopholes in Federal Data Collection Laws
August 03, 2006
A new report by the Government Accountability Office ('GAO') finds that Congress can significantly strengthen federal privacy laws by requiring data collection and reseller firms to improve their privacy safeguards and by enhancing the authority of the Federal Trade Commission ('FTC') to issue civil penalties for violations of current federal privacy laws.
<b>Online Exclusive:</b> New Hampshire Medical Privacy Law Challenged
August 03, 2006
IMS Health Inc. and Verispan LLC filed a lawsuit in U.S. District Court, seeking a stay of New Hampshire's new privacy law. The law, which went into effect on June 30, bans the collection, distribution, and sale of individual doctors' prescription information by pharmaceutical companies or their agents. It affects only prescriptions written by physicians, not by other medical professionals such as nurse practitioners.
Increased Scrutiny of Pharmaceutical Company Clinical Trials: The Plaintiff Responds
August 01, 2006
<i>'Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened.'</i> In this author's opinion, Winston Churchill's keen observation of human nature is an apt description for how the pharmaceutical industry deals with dangers revealed or at least signaled in clinical trials. For years, plaintiffs' lawyers have honed in on clinical trials conducted by pharmaceutical companies when preparing for and trying cases. These studies, often the banner touted by defendants as evidence of their innocence, are a natural place to begin the search for what went wrong when a drug is subsequently pulled from the market despite the supposed 'rigors' of clinical testing. While there is nothing new about plaintiffs' lawyers reviewing clinical trials with a fine-toothed comb, there has been a radical and bold step taken in the world of medical/science academia. Specifically, major publications such as the New England Journal of Medicine ('NEJM') and the Journal of the American Medical Association ('JAMA') are ensuring that industry-sponsored studies do not merely contain partial truths.
