Corporate & Financial Weekly Digest, Featuring Articles on SEC Enforcement Actions, Filing Fees and CFTC Committee Updates

SEC/CORPORATE -

Federal Court Rules Investment Fund is 10 Percent Owner in Section 16 Case -

On August 20, a federal magistrate judge in the Eastern District of New York granted a motion for summary judgment in a derivative case brought against purported 10 percent stockholders of 1-800-Flowers.com, Inc. Pursuant to Section 16 of the Securities Exchange Act of 1934, as amended, the judge found a hedge fund liable as a 10 percent owner, despite the fact that it had delegated voting and investment authority to its investment adviser.

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