Business Torts › International Law & Trade

Second Highest Penalty in FCPA History Comes with a Caution from the Bench about the Limits of the Act’s Jurisdiction

In Brief - The Foreign Corrupt Practices Act covers a nearly boundless range of business conduct by issuers and their agents in an ever more global world. Yet the contrast in sentences handed down in two recent FCPA...more

Patent Watch: Forrester Envtl. Servs., Inc. v. Wheelabrator Techs., Inc.

[P]ermitting state courts to adjudicate disparagement cases (involving alleged false statements about U.S. patent rights) could result in inconsistent judgments between state and federal courts [but] this possibility of...more

CFTC Reviewing Over 1 Million E-mails In ISDAfix Interest-Rate Swaps Investigation

CFTC investigators are reviewing over one million e-mails and instant messages as part of an investigation into possible price manipulation of ISDAfix interest-rate swaps....more

MBHB Snippets: Review of Developments in Intellectual Property Law - Spring 2013 - Volume 11, Issue 2

In This Issue: Comments on New AIA Rules; Implementing the New Micro Entity Status at the U.S. Patent Office; Obama Administration Focuses on Chinese Trade Secret Misappropriation; and Tiffany & Co. v. Costco Wholesale...more

Orrick's Financial Industry Week in Review - May 13, 2013

In This Issue: FHFA Limit on Fannie and Freddie Loan Purchases to Qualified Mortgage; Rating Agency Developments; MBIA and Bank of America Settle MBS Litigation for $1.7 Billion: Assured and UBS Agree to Settle RMBS...more

Enforcing Contractual Indemnity Litigation Against Chinese Companies

Lawsuits brought in the U.S. that result in judgments against Chinese companies often have problems with enforceability, unless the Chinese company has assets in the US or assets in another country that enforces US judgments....more

Increasing trend towards blanket notifications means companies should consider early notification of claims: Baker & McKenzie

There is an increasing trend in the UK towards accepting a blanket notification of claims, or circumstances that might give rise to a claim, as valid notification under an insurance policy. Australian companies should...more

Commerce Declares No "Free Pass" To Commit Fraud In Trade Cases

Trade remedies provide much needed relief to domestic industries battered by unfairly traded imports. But their effectiveness can be gravely undermined when exporters resort to deceit and outright fraud to skirt around...more

Corporate and Financial Weekly Digest - May 3, 2013

In this issue: - SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities - CFTC Staff Issues No-Action Letters - Delaware Court Dismisses Securities Fraud Action Against Power Plant...more

SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act

The US District Court for the Southern District of New York recently ordered Uriel Sharef, a former Siemens AG board member and German citizen accused of bribing Argentine government officials, to pay a $275,000 civil penalty...more

US Sues Novartis for Alleged Pharmacy Kickback Scheme

Swiss drug maker Novartis has been sued by a U.S. Attorney for allegedly paying kickbacks to pharmacies that converted thousands of patients to one of its drugs. The civil fraud suit accuses the company of disguising the...more

Orrick's Financial Industry Week in Review - April 22, 2013

Second Circuit Rejects Edge Act Jurisdiction in AIG RMBS Case - On April 19, the Second Circuit ruled that a lawsuit brought by American International Group (AIG) against several Bank of America entities involving...more

Court Finds Section 15(a) of the Exchange Act Only Applicable in Domestic Transactions

The US District Court for the Northern District of Illinois recently granted defendants’ motion to dismiss one count of a Securities and Exchange Commission complaint, finding that the registration requirement under Section...more

New Laws Increase Criminal Liability For Disclosure Of Trade Secrets: Are You Protected?

Two new criminal laws underscore the value of trade secrets as a critical asset to a corporation. These new laws, the Trade Secrets Clarification Act (TSCA) and the Foreign and Economic Espionage Penalty Enhancement Act...more

Kiobel v. Royal Dutch Ptroleum

U.S. Supreme Court Opinion Kiobel

In an opinion issued on April 7, 2013, the U.S. Supreme Court has ruled against a group of Nigerians living in the United States who sought to hold oil companies accountable for alleged human rights violations in Nigeria...more

District Court Grants J.P. Morgan’s Motion for Summary Judgment Against Dexia in RMBS Suit

On April 2, Judge Jed Rakoff of the United States District Court for the Southern District of New York largely granted J.P. Morgan’s motion for summary judgment in RMBS litigation brought against it by Dexia, a Belgian bank,...more

Bundesbank Opens Deutsche Bank Investigation

The German central bank, the Bundesbank, has launched an investigation into Deutsche Bank following claims that it lost billions on credit derivatives during the financial crisis. Investigators from the Bundesbank are...more

Liability of Directors in Canada – An Excerpt

This article is an excerpt of the Canada Chapter of International Liability of Corporate Directors, 2nd edition, published by Juris Publishing in February 2013. This excerpt excludes numerous aspects of the full chapter,...more

There is a Border in Cross-Border Proceedings - NASDAQ Purchasers Excluded from Ontario Class in IMAX

Those who have been following the progress of the securities class action saga of Silver v. IMAX will be interested to note that another decision in the long-running case has been released. On March 19, Justice van Rensburg...more

IP Update, Vol. 16, No. 3, March 2013

In This Issue: Supreme Court - Supreme Court Finds That “First Sale” Doctrine Applies to Works Patents - Joint Actors as It Relates to Method Claim Infringement; Federal Circuit Ruling Clears Way...more

Freddie Mac Files Suit Over Losses Due To Alleged LIBOR Manipulation

On March 14, Freddie Mac sued 15 banks and the British Bankers’ Association (BBA), claiming that the institutions manipulated the London Interbank Offered Rate (LIBOR) and caused substantial losses to Freddie Mac on...more

Obama Administration Solicits Public Help in Preventing Foreign Trade Secret Theft

On Tuesday, the U.S. Intellectual Property Enforcement Coordinator, Victoria Espinel, published a notice in the Federal Register "requesting any recommendations for legislative changes that would enhance enforcement against,...more

Compliance Week Highlights Policy Management

Policy management seemed to be top of mind this past month as Compliance Week released two articles highlighting the importance of an effective policy management process, including the expertise of Ingrid Fredeen, NAVEX...more

UK Financial Services Authority Sets Precedent Under New Penalty Policy

FSA's methodology for calculating financial penalties is expected to lead to significantly higher fines than in the past. On 18 March, the UK Financial Services Authority (FSA) published a final notice imposing a fine...more

Orrick's Financial Industry Week in Review - March 18, 2013

In This Issue: *Financial Industry Developments - CFTC Announces the Start of Mandatory Clearing - CFTC Reminds Market Participants of Swap Data Reporting Requirements - Rating Agency Developments...more