There has been a lot of press (some of which is discussed in a prior post) about various government agency employees taking extreme liberties with their government issued credit cards. Back in July 2011, the Senate approved a reform measure for additional controls and stricter penalties that is finally set by signature by President Obama. …
September 2012 archive
Permanent link to this article: https://betweenthenumbers.net/2012/09/government-crackdown-is-a-reminder-for-businesses-to-examine-credit-card-policies/
Sep 23
Entire fairness standard in fairness opinions requires that the transaction be … well, fair.
In October 2011, Chancellor Strine of the Delaware Chancery Court awarded more than $1.2 billion in damages to publicly-traded Southern Peru Copper Corp. (“SPCC”) against its controlling parent, Grupo Mexico . The derivative lawsuit claimed that SPCC overpaid for Minera Mexico, a Mexican mining company that its parent wanted SPCC to purchase from the controlling …
Permanent link to this article: https://betweenthenumbers.net/2012/09/entire-fairness-standard-in-fairness-opinions-requires-that-the-transaction-be-well-fair/
Sep 22
Federal Circuit Corrects Recurring Errors with the Entire Market Value Rule
In LaserDynamics v. Quanta Computer, Case No. 11-1440 (Aug. 30, 2012) the U.S. Court of Appeals for the Federal Circuit overturned an $8.5 million lump sum jury award and remanded the case for a new damages trial. The Federal Circuit addressed three issues of interest to the calculation of reasonable royalties. See this longer article …
Permanent link to this article: https://betweenthenumbers.net/2012/09/federal-circuit-corrects-recurring-errors-with-the-entire-market-value-rule/
Sep 21
SEC Report Is Relevant To Litigators Presenting Financial Information
The Securities and Exchange Commission (SEC) recently released a report required by Section 917 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The study’s legislative mandate includes addressing: 1. the existing level of financial literacy among retail investors, including subgroups of investors identified by the Commission; 2. methods to improve the timing, content, …
Permanent link to this article: https://betweenthenumbers.net/2012/09/sec-report-is-relevant-to-litigators-presenting-financial-information/
Sep 12
Whistleblower Emerges From Jail and Collects Over $100 Million Reward
Despite prior criticism that the IRS hasn’t been properly paying under it’s whistleblower reward program (discussed here), it recently awarded a record amount of $104 million to Bradley Birkenfeld. The reward derived from information he provided leading to the 2009 agreement by UBS to pay $780 million in fines, penalties, interest and restitution related to allegations that …
Permanent link to this article: https://betweenthenumbers.net/2012/09/whistleblower-emerges-from-jail-and-collects-over-100-million-reward/