Monthly Archive: March 2015

Mar 31

VC Firm Wins Gender Based Failure to Promote / Wrongful Termination Case

Last week a half male/half female jury determined that Kleiner Perkins Caufield & Byers (“Kleiner Perkins”), one of the country’s most prominent venture capital (“VC”) firms, did not discriminate against junior partner Ellen Pao (“Pao”). Pao was seeking $16 million in economic damages in addition to punitive damages to compensate for the alleged inequitable promotion …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/vc-firm-wins-gender-based-failure-to-promote-wrongful-termination-case/

Mar 30

Bankruptcy Treatment of Education Debts is Clarified by the Ninth Circuit

A Ninth Circuit Bankruptcy Appellate Panel has ruled that certain tuition related amounts are dischargeable in bankruptcy.  Generally, education related debts are not able to be discharged.  However, the Panel’s ruling did not apply this exception because the financial aid in question was a non-monetary tuition credit offered by a for-profit university. The Panel described the …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/bankruptcy-treatment-of-education-debts-is-clarified-by-the-ninth-circuit/

Mar 23

GAO Reports Worsening Improper Payments

The Government Accountability Office (“GAO”) recently published a summary of the testimony of US Comptroller General Gene L. Dodaro regarding government efficiency and effectiveness.  The GAO reports annually to Congress on federal programs, agencies, offices, and initiatives (both within departments and government-wide) that are fragmented, overlapping, or duplicative.  It also identifies opportunities for cost savings …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/gao-reports-worsening-improper-payments/

Mar 20

Costs Excluded From Prejudgment Interest Calculation In Personal Injury Award

Prejudgment interest is often applied to a personal injury award in an attempt to capture the lost value of the use of monies prior to the judgment date.  A recent case, Bean v. Pacific Coast Elevator Corporation (“Pacific Coast”), has addressed whether costs awarded to a plaintiff in addition to damages are also subject to prejudgment interest.  …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/costs-excluded-from-prejudgment-interest-calculation-in-personal-injury-award/

Mar 17

Good Deed Performed Too Early for SOX Award

The US Court of Appeals for the Second District has held that the Securities and Exchange Commission (“SEC”) was within its rights to deny a whistleblower award to Larry Stryker under Section 21F of the Dodd-Frank Act (“Dodd-Frank”), 15 U.S.C. § 78u-6. From 2004-2009, Mr. Stryker submitted information to the SEC regarding alleged wrongdoing by Advanced …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/good-deed-performed-too-early-for-sox-award/

Mar 14

“Blurred Lines” Infringement Verdict Is In

The copyright infringement case brought by the estate of Marvin Gaye against the popular musicians Robin Thicke, Pharrell Williams, and “T.I”, as well as their respective record companies, was decided by jury verdict on March 10th. The jury awarded the Gaye estate $7.4 million in damages, to be paid by Thicke and Williams, with the …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/blurred-lines-infringement-verdict-is-in/

Mar 13

Golf Channel May Lose Millions in Stanford Ponzi Clawback

The Ponzi scheme orchestrated by R. Allen Stanford is among the most notable of our time and the Golf Channel might find itself among its extensive list of victims.  The Fifth Circuit has given the go-ahead for the receiver to pursue $6 million of advertising fees paid by Stanford to the Golf Channel.  The basis …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/golf-channel-may-lose-millions-in-stanford-ponzi-clawback/

Mar 10

DWP audit finds LA lost hundreds of millions

A recent audit of DWP billings following problems with its new billing system revealed that over $680 million was lost due to faulty billings.  The massive revenue impact is further exacerbated by the fact that the system cost $70 million to originally implement, followed by over $40 million spent so far on efforts to address …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/dwp-audit-finds-la-lost-hundreds-of-millions/

Mar 07

Business Audit Rate Will Move Even Lower

With its budget continuing to shrink, the IRS is looking at even lower audit rates for the coming tax season.  The number of agents is current at under 12,000, the lowest number in the last decade. This related article provides additional info on IRS audit rates.

Permanent link to this article: http://betweenthenumbers.net/2015/03/business-audit-rate-will-move-even-lower/

Mar 03

A second shot at an end to pre-dispute mandatory arbitration clauses with brokers

Legislation that would free investors from the requirement to engage in pre-dispute mandatory arbitration with their brokers is getting a second life.  Congressman Keith Ellison, D-Minn, has once again introduced the bill to Congress, with the following findings: “(1) Investor confidence in fair and equitable recourse is essential to the health and stability of the securities …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/a-second-shot-at-an-end-to-pre-dispute-mandatory-arbitration-clauses-with-brokers/

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