Corporate and Financial Weekly Digest - February 24, 2012


In this issue:

- House Committee on Financial Services Approves Two Securities Reform Bills

- District Court Grants Motion for Summary Judgment in Case Involving the Sale of Unregistered Securities

- District Court Partially Denies Motion to Dismiss for Failure to Allege Ulterior Motives

- Income for Life: Push to Lifetime Income Options in Defined Contribution Retirement Plans

- Qualified Longevity Annuity Contracts in Defined Contribution Plans

- Spousal Annuity Protections in Defined Contribution Plans

- European Council Adopts Short Selling Regulation

- Agreement Reached on EMIR

- ESMA Publishes Discussion Paper on EMIR Technical Standards

- ESMA Consults on AIFMD Key Concepts

- HFSB Publishes Revised Standards

An excerpt from "District Court Partially Denies Motion to Dismiss for Failure to Allege Ulterior Motives"

Plaintiff Vincent Licata agreed to sell the assets of his temporary employment services businesses to Tri-State Employment Services, Inc., a New York corporation (Tri-State). An affiliate of Tri-State (Services) had previously negotiated the purchase and formed an entity that would facilitate the acquisition. The plaintiff and Tri-State also entered into an employment agreement which named Plaintiff vice-president of Tri-State and included various commission-based compensation clauses.

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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