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Delaware Chancery Court Dismisses Caremark Claim For Failure To Adequately Allege That The Board Consciously Disregarded FCPA...

by Shearman & Sterling LLP on

On June 16, 2017, Vice Chancellor Tamika Montgomery-Reeves of the Delaware Court of Chancery dismissed breach of fiduciary duty and other claims brought derivatively against the directors and former chief financial officer of...more

Development of court practice of determining direct capital investment for the purpose of applying the 5% withholding tax rate...

by Dentons on

On 3 May 2017 the Commercial Court of Chelyabinsk Region rendered a decision in case No. ?76-20508/2016 under the claim of Chelyabenergosbyt PJSC (the “Company”)....more

International Arbitration Newsletter - May 2017

by Latham & Watkins LLP on

On 1 March 2017 the UK Supreme Court1 overturned an order of the Court of Appeal and decided that Nigerian National Petroleum Corporation (NNPC) could not be required to provide monetary security as a condition for resisting...more

Courts Continue to Struggle with Jurisdiction by Consent

by King & Spalding on

Introduction - On January 26, 2017, the U.S. District Court for the Southern District of New York (S.D.N.Y.) decided Famular v. Whirlpool Corp., a case addressing the circumstances in which an out-of-state corporation may...more

New Administrative Penalties Against Individuals and Private Companies as Part of Mexico's Fight Against Corruption

by White & Case LLP on

On July 19, 2017, Mexico's new General Law on Administrative Accountability will take effect, imposing serious penalties on individuals and private companies that violate it, and requiring companies to adopt and implement...more

The Precarious Nature of Trust Assets at Home and Abroad

by Latham & Watkins LLP on

In Akers (and others) v. Samba Financial Group [2007] UKSC 6, the UK Supreme Court has confirmed the limited nature of British insolvency officer-holders’ ability to void dispositions of a company’s assets held on trust. The...more

After Adopting the “Fraud-on-the-Market” Presumption of Reliance, Australia is Poised to Become a Plaintiff-Friendly Venue

The United States is a popular location for securities class actions, due in large part to its reputation as a generally plaintiff-friendly system. A key contributor to that reputation is the acceptance of the...more

"EU Market Abuse Regulation — New Requirements for Issuers of Debt Securities Admitted to Trading in Europe"

On 3 July 2016, Regulation 596/2014 of the European Parliament and of the Council of the European Union (the Market Abuse Regulation) repealed and replaced Directive 2003/6/EC on Market Abuse (the Market Abuse Directive)....more

Hong Kong Regulatory Update - March 2015

This Hong Kong regulatory update provides a brief overview of the principal Hong Kong regulatory developments in the preceding three months relevant to companies listed or proposed to be listed on The Stock Exchange of Hong...more

Blog: Beyond the Bribery Act

by Cooley LLP on

A recent petition heard in the Scottish Court of Session Outer House has highlighted the wide-ranging implications of the Bribery Act 2010 in the UK beyond the criminal offences of the Act itself. The petition was...more

Welcome Clarification of English Law Regarding Legal Advice Privilege

by Dechert LLP on

The High Court has delivered an important judgment on the application of legal advice privilege to factual reports delivered by lawyers to their clients in the context of a regulatory investigation. In the case of Property...more

Broad Reach for Canadian Securities Regulators for Insider Trading

In a settlement agreement recently endorsed by the Ontario Securities Commission (OSC), respondent Anand Hariharan agreed to settle insider trading allegations made by OSC enforcement staff (Staff) against him. The settlement...more

Asahi’s Morning Sun – Court Holds Parent And Its Managers May Be Liable For Interfering With Subsidiary’s Contract

by Allen Matkins on

Yesterday’s post was intended to set the stage for a discussion of last week’s decision by the Court of Appeal in Asahi Kasei Pharma Corp. v. Actelion Ltd., 2013 Cal. App. LEXIS 1017 (Cal. App. 1st Dist. Dec. 18, 2013). The...more

China Business Series: Directors and Supervisors

Every Chinese company, including subsidiaries established in China by foreign companies, is required to have a board of directors and a board of supervisors. Multinationals should understand the responsibilities and...more

When Are Directors Liable For Failing To Exercise Proper Oversight?

Recently we discussed whether directors of public companies face potential liability for not preventing cyber attacks. As we discussed, the answer is generally no, because absent allegations to show a director had a...more

News Corp As Corporate Suspect – Between Scylla And Charybdis?

by Thomas Fox on

Yesterday I used the lyrics from Emerson, Lake and Palmer’s song Karn Evil No. 9, First Impression, Pt. 2 - “Welcome Back My Friends, To The Show That Never Ends” as an entrée into the topic of the investigation of JP...more

NC Business Court Dismisses All Of Brazilian Plaintiff's Claims

by Brooks Pierce on

The Plaintiff in Martinez v. Reynders had all of her claims dismissed last week in an Opinion from the Business Court. The case illustrates why you might want to think twice about incorporating a business in Brazil, and how...more

Admit It! SEC May Seek Admissions of Wrongdoing in Settlements

The U.S. Securities and Exchange Commission (“SEC”) is poised to modify its “no-admit, no-deny” policy to seek more admissions of wrongdoing from defendants as a condition of settlement in enforcement cases. The change comes...more

The Financial Report - Volume 2, No. 12 • June 20, 2013

by DLA Piper on

Discussion and Analysis - Earlier this week, US Securities and Exchange Commission Chairman Mary Jo White informed the SEC’s Enforcement Division staff that the SEC will begin requiring defendants to admit guilt in...more

SEC Sues Badin for Insider Trading in Smithfield Foods Acquisition

by Brooks Pierce on

The May 29th announcement that China-based Shuanghui International Holdings had agreed to acquire Virginia-based Smithfield Foods came with a lot of news value. First, the $4.7 billion price tag for Smithfield is large by any...more

Liability of Directors in Canada – An Excerpt

by Ellyn Law LLP on

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

Directors Owe No Duty To Foreign Residents

by Dentons on

Originally Published in Legal Alert, Vol. 31, No. 5. Directors of Canadian companies with operations outside of Canada can take comfort in the Ontario Court of Appeal’s recent decision in Piedra v. Copper Mesa Mining...more

Top Ten China Mistakes For Businessmen

We recently came across a list of the top ten mistakes businessmen make in China. It was written by the President of a consulting company based in Los Angeles that assists small to medium sized companies in their Asian and...more

Back from the Securities Enforcement Forum 2012

by Brooks Pierce on

Yesterday I attended the Securities Enforcement Forum 2012 at the Mayflower Hotel in D.C. Bruce Carton organized an excellent day of panels devoted to a number of securities enforcement topics. Here is the full agenda from...more

IP UPDATE: ACTA May Need a Second Act

The Internet has created a number of challenges for rights holders and the law. The Anti-Counterfeiting Trade Agreement (ACTA) – a plurilateral agreement that seeks to establish worldwide standards for enforcing Intellectual...more

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