Monthly Archives: July 2013

Court Upholds SEC Conflict Minerals Rule – First Reports Due in Less Than A Year

“[The] rule […] will require about 6,000 publicly traded companies to report whether their products contain four so-called conflict minerals from the Democratic Republic of the Congo, where warlords use proceeds from the mineral sales to finance murder, rape and torture.” (The National Law Journal) On July 23, 2013, a federal court rejected a challenge… Read more »

JD Supra Corporate Brief: Data Collection, Background Checks, Two-Step Acquisitions, Securities Fraud

On the go? Get the JD Supra Corporate Brief delivered to your inbox, every weekday morning. Sign up here. New guidance from the Digital Advertising Alliance sets forth specific requirements for the collection and use of data from mobile devices… (Wilson Sonsini Goodrich & Rosati) Financial institutions that use criminal background checks to screen job… Read more »

Detroit Bankruptcy: Restructuring $18 Billion of Debt Will Be Long and Challenging…

[Link: Harvey Miller: Detroit Will Be In Bankruptcy “For A Long Time” – Bloomberg Law] It’s on. Last week, a federal judge gave the city of Detroit the go-ahead to proceed with its $18 billion bankruptcy case. An important step, but just the first of many in what promises to be a lengthy process sorting through… Read more »

JD Supra Corporate Brief: Electronic Discovery, Steven Cohen, Joint Ventures, Spoofing Cheetah

Yes, it’s Monday. But a good cup of coffee, a blueberry scone, and the JD Supra Corporate Brief can help… Who should pay the costs of electronic discovery? It depends on where you ask… (Cullen and Dykman) Interesting perspective on the charges against Steven Cohen from a former staff attorney at the SEC… (Brooks Pierce)… Read more »

JD Supra Corporate Brief: Corporate Governance, Material Omissions, HSR Notification, Consumer Privacy

July 26, 1947: President Harry Truman signs the National Security Act of 1947, and in doing so creates the CIA, the US Department of Defense, the US Air Force, the Joint Chiefs of Staff, and the US National Security Council. Have proxy advisory firms become the gatekeepers of corporate governance? (Dechert) A federal court just… Read more »

JD Supra Corporate Brief: Cyber Risk Disclosure, UK Bribery Act, International Corporate Taxation, Trade Secret Verdicts

The JD Supra Corporate Brief: good, and good for you… 85% of the Fortune 500 have begun to disclose their cybersecurity and data breach risks in public filings… (Mintz Levin) Is the UK Bribery Act being held hostage to budget cuts? (Pillsbury) Will the OECD succeed in eliminating what it believes to be the unfair… Read more »

Whistleblower Protection Rules: 5 Need-to-Know Developments for Employers

Whistleblowers – insiders who report corporate wrongdoing and fraud – are not new. But many of the laws that protect them are. Perhaps not surprisingly, the protections granted by those laws continue to evolve. For your reference, here’s a look at five recent changes that employers need to know: 1. A federal court ruled that… Read more »

JD Supra Corporate Brief: Proxy Litigation, Data Collection, Confidentiality Clause, Mobile Payments

On this day in 1701, the trading post at Fort Pontchartrain du Détroit was founded. Nearly 312 years later to the day, the city it became – Detroit, Michigan – filed the country’s largest municipal bankruptcy… What’s new in say-on-pay trends and proxy litigation? Quite a bit, actually… (Skadden) Protect your company’s information from a… Read more »

JD Supra Corporate Brief: China Detentions, HIPAA Policies, Compounding Pharmacies, Club Deals

Sign up for email delivery of the JD Supra Corporate Brief, and you’ll never go hungry for reading material again! The key lesson for multinationals from China’s arrest and detention of four GSK employees? Update your anti-corruption programs… (K&L Gates) Worried that the Supreme Court’s ruling against “pay to delay” agreements in Actavis could expose… Read more »

5 Ways to Protect Your Company’s Information from a Data Security Breach

“[I]n 2012, data breaches cost American companies an average of $188 per lost record, and $5.4 million per incident.” (ID Experts) What do the University of Virginia, Apple, Cedars-Sinai Medical Center, Ubuntu, and the Texas Health Harris Methodist Hospital have in common? Among other things, all have been recent victims of data breaches. And, as… Read more »

JD Supra Corporate Brief: Double Non-Taxation, Telemarketing Fraud, Whistleblower Protections, Inflation Risks

On July 22, 1937, the US Senate votes down President Franklin Roosevelt’s plan to add more justices to the Supreme Court. The OECD has launched an ambitious plan to overhaul the international taxation system – and eliminate “double non-taxation” – over the next 24 months… (Skadden Arps) It’s time to relearn how to do business… Read more »

JD Supra Corporate Brief: HSR Compliance, WTO Disputes, NLRB Appointees, FERC Fines

This Friday? Iced coffee to go with your JD Supra Corporate Brief. And no need to heat up that scone… Awesome video: assignment in a merger / change of control, by Richard Hsu (Shearman & Sterling) Those Hart-Scott-Rodino reporting requirements? Turns out the feds are serious about compliance… (Morrison & Foerster) Less than one year… Read more »

JD Supra Corporate Brief: Breach Reporting Requirements, Social Media Risks, Climate Action Plan, Patent Litigation Bill

Happy birthday, Nelson Mandela! Data breach at your company? Check this 140-page guide for reporting requirements in your state(s)… (Perkins Coie) It’s easier than ever for hackers and former employees to steal trade secrets. But that doesn’t mean you can jump to conclusions… (Orrick – Trade Secrets Group) Managing your social media risks? There’s a… Read more »

JD Supra Corporate Brief: Internal Controls, Broker Dealers, Unfair Competition, Conflict Minerals

Is it just us, or is it getting really hot in here? But don’t worry – the heat wave should break by before the weekend. Until then: stay cool, drink lots of liquids, and read the JD Supra Corporate Brief: M&A risks: all too often executives ignore ethics and compliance issues and focus mainly on… Read more »

FATCA Update: IRS Gives International Banks Brief Reprieve

Non-US banks struggling to comply with the US Foreign Account Tax Compliance Act (FATCA) – which requires foreign financial institutions to provide US authorities with information on accounts held by US citizens or face substantial penalties – just got an unexpected break from the Treasury Department. On July 12, 2013, the Internal Revenue Service announced… Read more »