News & Analysis as of

Enron

Uber’s Troubles: A Compliance Wake-Up Call No Matter How Regulated You Are

I can’t help myself; when I read some of the troubling reports about Uber’s workplace culture, which has contributed to executive ousters and the need to hire one of the highest-profile lawyers in the country, I think, “If...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Prepaid card company NetSpend has reached a $53 million settlement with the FTC to resolve claims that the company “deceived customers about when and whether they could access money they deposited on its reloadable debit...more

Court Finds That Enron’s Fraud Does Not Void Contract Entered Into With Enron Subsidiary

by Carlton Fields on

A federal appellate court has upheld a district court order enforcing an arbitration award by the ICC against the Republic of Nigeria in favor of Enron Nigeria Power Holdings, Ltd. (“ENPH”), a former subsidiary of Enron...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

8 years after returning as CEO, Starbucks’ Howard Schultz is again planning to step down, turning over the barista apron to current president and COO Kevin Johnson. Schultz will continue to work on Sbux social issues and the...more

FCPA Compliance and Ethics Report-Episode 253-Loren Steffy reflects on the Enron, the trials of Ken Lay and Jeff Skilling and...

by Thomas Fox on

In this episode, I visit with Loren Steffy who covered the Enron trial for the Houston Chronicle. He reflects on the lasting impact of the Enron scandal and how it continues to resonate today. ...more

Enron’s Continued Legacy On FCPA Enforcement

by Thomas Fox on

Today we acknowledge (I cannot say celebrate) one of the seminal events which led to the explosion of Foreign Corrupt Practices Act (FCPA) enforcement actions from 2004 forward. On this day in 2001 the Houston based company...more

Compliance at the Tipping Point, Part III – The VW Emissions-Testing Scandal

by Thomas Fox on

I continue my series on why I believe that compliance is at the ‘Tipping Point’ with a discussion of the Volkswagen (VW) emissions-testing scandal and its effect on the greater compliance world. Myself and many other...more

Aikens on Leadership and Culture

by Thomas Fox on

Ed. Note-The VW scandal is clearly much broader than simply corporate lying about environmental compliance. It is about an entire corporate culture that engaged in, tolerated or consciously disregarded the illegal behavior....more

Gatekeeper Liability of Inside Asset Management Attorneys "Appearing" Before the SEC

by Carlton Fields on

This article addresses the liability of inside attorneys at asset management companies— mutual fund sponsors, investment advisers, broker-dealers, life insurance companies—as gatekeepers under rules of the US Securities and...more

Cymbeline – Doing Virtue and FCPA Compliance

by Thomas Fox on

Commentators still level the hue and cry that it is somehow the fault of the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) that companies continue to violate the Foreign Corrupt Practices Act...more

DOJ’s Disdain for “Paper” Compliance Programs

by Michael Volkov on

As we come to the close of the Obama Administration, the Justice Department will certainly be able to point to its record of aggressive white-collar enforcement in a variety of areas. One glaring claim omission from that list...more

Custer’s Last Stand and Risk Management

by Thomas Fox on

On this day in 1876 one of the greatest failures in risk management took place when Lieutenant Colonel George Armstrong Custer and his entire 7th Cavalry were wiped out at the Battle of the Little Big Horn. Custer had split...more

Before The Whistle Blows: Understanding And Addressing The Expanding Scope Of Whistleblower Protections Under Sarbanes-Oxley And...

The Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”) was enacted following the accounting scandals of the early 2000s involving Enron, WorldCom and other public companies. Congress passed the Dodd-Frank Wall Street Reform and...more

Clouds on the Horizon for Claim Purchasers in the Third Circuit

by Katten Muchin Rosenman LLP on

In a decision of significance to the distressed claims trading community, the US Court of Appeals for the Third Circuit in In re KB Toys Inc. recently held that any risk or “cloud” of disallowance under the Bankruptcy Code...more

For Jeff Skilling, 'Enron Was His Life,' Lawyer Says

by Bloomberg Law on

July 23 (Bloomberg) -- Daniel Petrocelli, chair of the Business Trial and Litigation practice at O'Melveny & Myers LLP, talks with Bloomberg Law's Spencer Mazyck about his representation of former Enron Corp. Chief Executive...more

The Business Of Successful Transformation

by Thomas Fox on

This month I have chosen a couple of topics that most of us come across at some time in our career. The toxic culture – being in an organisation that clearly has little or no moral compass....more

More Enron Fallout: Skilling and DOJ Enter Agreement to Reduce Sentence

by Ifrah PLLC on

Former Enron executive Jeffrey Skilling reportedly has negotiated a deal with federal prosecutors that is likely to result in a significant reduction of the prison sentence he will serve for his role in the collapse of Enron....more

DOJ Notice Hints at a Sentencing Deal With Former Enron Exec Jeffrey Skilling

by Ifrah PLLC on

Justice may or may not be blind; but she can buckle under pressure. It may take years, millions of dollars and armies of attorneys, but if you have the resources to test her mettle, you too may tip the balance in your favor....more

A Tale Of Two Debtors: Lehman Brothers And The Availability Of Equitable Subordination In The “Dueling Debtor” Context

by White & Case LLP on

Originally published in the NYU Journal of Law & Business - Vol. 9:269, 2012. This article suggests that the generally accepted “offensive/defensive” standard used by bankruptcy courts to determine whether a debtor may...more

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