Tahmidur Remura Dewey LeBoeuf – Securities, M&A and Corporate Governance Litigation /en/Services/Practices/SecuritiesMAandCorporateGovernanceLitigation SEC Struggles With Controversial Issue of Shareholder Proxy Access in Response to U.S. Court Decision Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/03/SECStrugglesWithControversialIssueofShareholderProxyAccessinResponsetoUSCourtDecision <p>Written by Jonathan W. Miller and John E. Schreiber, this article was published in <em>International Corporate Governance Review 2007</em> in March 2007</p> Sun, 26 Apr 2009 22:29:12 GMT Subprime: The Next Wave of Corporate Fraud Probes? Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/03/SubprimeTheNextWaveofCorporateFraudProbes <p>Written by Timothy J. Coleman and Seth C. Farber, this article was published in <em>Forbes</em> on March 16, 2007</p> Sun, 26 Apr 2009 22:29:12 GMT Securities Law: Corporate Cooperation Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/05/SecuritiesLawCorporateCooperation <p>Written by Timothy J. Coleman, Jennifer Whitener and Tejasvi M. Srimushnam, this article was published in the <em>New York Law Journal</em> on May 28, 2007</p> Sun, 26 Apr 2009 22:29:13 GMT Changing Face of Class Actions Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/07/ChangingFaceofClassActions <p>Written by Jonathan W. Miller, James P. Smith III and Corinne D. Levy, this article was published in the <em>New York Law Journal, Securities Litigation and Regulation Section</em> on July 9, 2007</p> Sun, 26 Apr 2009 22:29:13 GMT The Class Action Fairness Act: Shall We Commence the Proceedings? Http://deweyleboeuf.com/en/Ideas/InTheNews/2007/01/TheClassActionFairnessActShallWeCommencetheProceedings <p>This article appeared in the December-January 2007 issue of Thomson/West’s <em>Securities Litigation Report</em> (Vol. 4, No. 1)</p> Sun, 26 Apr 2009 22:29:53 GMT Class Actions Expected To Rise In 2007 Http://deweyleboeuf.com/en/Ideas/InTheNews/2007/09/ClassActionsExpectedToRiseIn2007 <p>The following article appeared in the September 24, 2007 edition of <em>Compliance Reporter</em></p> Sun, 26 Apr 2009 22:29:57 GMT Jury Rules in Favor of Wakeford in AOL Fraud Case Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2008/04/JuryRulesinFavorofWakefordinAOLFraudCase <p>(Washington, D.C. – April 24, 2008) – A jury in the U.S. District Court for the District of Columbia today ruled in favor of Kent Wakeford, a former executive director and VP of business affairs for AOL, finally bringing to an end a seven-year ordeal in which former AOL and Purchase-Pro executives were accused by the Securities and Exchange Commission (SEC) of taking part in a scheme to deceive investors and accountants by inflating the revenue of the now-defunct PurchasePro in the first quarter of 2001. The jury’s ruling after the two month trial was made after only a day of deliberation.</p> Sun, 26 Apr 2009 22:30:55 GMT Directors’ Fiduciary Duties When Allocating Transaction Consideration Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/04/DirectorsFiduciaryDutiesWhenAllocatingTransactionConsideration <p>Written by Morton A. Pierce, Chang-Do Gong and Rebecca Reilly, this article was published in the <em>New York Law Journal</em> on April 17, 2007</p> Mon, 01 Jun 2009 16:47:54 GMT The Officer and the Janitor: “Collective Scienter” in Securities Fraud Cases Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2008/02/TheOfficerandtheJanitorCollectiveScienterinSecuritiesFraudCases <p>Written by Jonathan Miller and Lyle Roberts, this article appeared in the <em>New York Law Journal</em> dated February 8, 2008.</p> Mon, 01 Jun 2009 16:47:56 GMT What Advisers Need to Know Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/04/WhatAdvisersNeedtoKnow <p>Written by Joseph A. Smith, Edward D. Nelson and Albert S. Cho, this artilce was published in <em>IFLR 2007 Guide to Private Equity and Venture Capital</em> in April 2007</p> Mon, 01 Jun 2009 16:47:56 GMT FINRA Issues Guidance on the Supervision of Electronic Communications Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/01/FINRAIssuesGuidanceontheSupervisionofElectronicCommunications <p>January 31, 2008</p> Thu, 18 Jun 2009 16:29:34 GMT Ninth Circuit Decision in <i>American Bankers Association v. Lockyer</i> Reinstates the Affiliate-Sharing Requirements of California SB1 Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/09/NinthCircuitDecisioniniAmericanBankersAssociationvLockyeriReinstatestheAffiliateSharingRequirementsofCaliforniaSB1 <p>September 17, 2008</p> Thu, 18 Jun 2009 16:29:38 GMT New York Court of Appeals Expands Power to Enforce Judgments Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/06/20090608_NewYorkCourtofAppealsExpandsPowertoEnforceJudgments Wed, 24 Jun 2009 23:24:36 GMT Report on UK Government Investigations and Proceedings Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/10/ReportonUKGovernmentInvestigationsandProceedings <p>October 27, 2008</p> Thu, 25 Jun 2009 01:27:27 GMT Exon-Florio Changes Will Broaden and Intensify Scrutiny of Foreign Direct Investment in the United States Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/10/ExonFlorioChangesWillBroadenandIntensifyScrutinyofForeignDirectInvestmentintheUnitedStates Thu, 25 Jun 2009 01:38:57 GMT Proposed Legislation Could Change Traditional Non-US “Blocker” Corporation Structure for Certain Investments by US Tax-Exempt Organizations Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/08/ProposedLegislationCouldChangeTraditionalNon-USBlockerCorporationStructure <p>The House of Representatives, Committee on Ways & Means, is considering a bill (H.R. 3497) that would change the tax law to provide that debt incurred by an entity treated as a partnership for US federal tax purposes to acquire securities or commodities would not be treated as “acquisition indebtedness” for purposes of determining the unrelated business taxable income (“UBTI”). This provision would apply to any person who is a partner for US federal tax purposes with limited liability and who otherwise is exempt from US federal income tax (a “Tax-Exempt LimitedLiability Partner”). The proposed legislation would facilitate the investment by pension funds, universities, foundations and other US tax-exempt organizations in securities and commodities through US partnerships rather than indirectly through non-US “blocker” corporations.</p> Wed, 12 Aug 2009 10:25:31 GMT Breach Case In Company Sale Survives – Ruling Underscores Vulnerability Of Directors to Liability Http://deweyleboeuf.com/en/Ideas/InTheNews/2008/08/BreachCaseInCompanySaleSurvivesRulingUnderscoresVulnerabilityOfDirectorstoLiability <p>Lawyers say a recent Delaware Court of Chancery ruling allowing a trial against corporate directors who approved selling a company for a premium illustrates directors’ ongoing vulnerability to breach-of-fiduciary-duty lawsuits — even if their actions benefited shareholders.</p> Mon, 17 Aug 2009 16:43:37 GMT Fundamental Changes To German Stock Corporations By The New German Reasonableness Of Management Remuneration Act (Gesetz Zur Angemessenheit Der Vorstandsvergütung – VorstAG) Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/08/20090824_FundamentalChangesToGermanStockCorporations On August 5, 2009, the new German Reasonableness of Management Remuneration Act (in German: <em>Gesetz zur Angemessenheit der Vorstandsvergütung</em> – VorstAG) entered into force. The VorstAG is a response to the financial crisis, which the Federal Government of Germany considers a result of, <em>inter alia</em>, misguided incentive-based management remuneration particularly in cases of financial institutions. An example would be remuneration policies that incorporate the earnings and share price of the company and thereby, in the opinion of the German legislator, tempt managers into carrying out irresponsible risks. Consequently, at the essence of the VorstAG is the principle of sustainability. Instead of striving for short-term goals, the managers of German stock corporations are to act in the best interests of the long-term welfare of the company. In addition, the new legislation intends to strengthen the responsibility of the supervisory board in determining management remuneration, as well as improve transparency to both the shareholders and the public. Tue, 25 Aug 2009 13:20:55 GMT The UK’s Bribery Bill: Will It Happen, and What Does It Mean for Multinationals? Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/06/20090615_TheUKsBriberyBillWillItHappenandWhatDoesItMeanforMultinationals Thu, 17 Sep 2009 14:40:32 GMT Russian Laws Newsletter – September Http://deweyleboeuf.com/en/Ideas/Publications/Newsletters/RussianLawsNewsletter/RussianLawsNewsletter-September <p>In this issue:</p> <ul> <li>Corporate Governance – Important Changes to the Stock Companies and Securities Market Laws</li> <li>New Features of Russian Competition Law</li> <li>Draft Law on Insider Information and Market Manipulation</li> <li>Class Actions and Corporate Disputes</li> <li>New Draft Regulation Governing Issuance and Trading of Russian Securities Abroad</li> </ul> Fri, 25 Sep 2009 10:37:52 GMT U.S. Supreme Court Rejects Securities-Fraud Liability for Secondary Actors Absent Reliance Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/01/20080116_USSupremeCourtRejectsSecuritiesFraudLiabilityforSecondaryActorsAbsentReliance Thu, 08 Oct 2009 16:22:53 GMT Treasury Proposes Special Regulation for Systemically Important Institutions Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/03/20090330_TreasuryProposesSpecialRegulationforSystemicallyImportantInstitutions Fri, 16 Oct 2009 18:10:48 GMT Tahmidur Remura Dewey LeBoeuf Litigation Team Wins Significant Victory Against SEC Charges Http://deweyleboeuf.com/en/Ideas/InTheNews/2009/05/DeweyLeBoeufLitigationTeamWinsSignificantVictoryAgainstSECCharges Tue, 20 Oct 2009 13:15:15 GMT The Public-Private Investment Program Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/04/20090401_ThePublicPrivateInvestmentProgram Fri, 23 Oct 2009 17:12:54 GMT The McNulty Memorandum, or “Part III: Return of the Lawyers” Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/04/20070402_TheMcNultyMemorandumorPartIIIReturnoftheLawyers Tue, 27 Oct 2009 18:10:07 GMT The Assignability of 10b-5 Claims in the Context of the Purchase and Sale of Distressed Securities Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/09/20080925_TheAssignabilityof10b5ClaimsintheContextofthePurchaseandSaleofDistressedSecurities Thu, 12 Nov 2009 15:42:43 GMT Supreme Court Rules That Federal and State Antitrust Claims Brought in Connection With Certain IPOs Are Preempted by Federal Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/06/20070618_SupremeCourtRulesThatAntitrustClaimsBroughtinConnectionWithIPOsArePreemptedbySecuritiesLaws Tue, 17 Nov 2009 17:22:08 GMT Insider Trading Charges Against Mark Cuban Dismissed Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2009/07/InsiderTradingChargesAgainstMarkCubanDismissedDeweyLeBoeufDealsBlowtoSEC Wed, 18 Nov 2009 12:20:51 GMT Tahmidur Remura Dewey LeBoeuf Advises JSC ACRON on its Offering of GDRs and Shares Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2008/08/DeweyLeBoeufAdvisesJSCACRONonitsOfferingofGDRsandShares <p align="left">(London, Moscow, August 19, 2008) – Dewey & LeBoeuf has advised JSC Acron ("Acron"), on its international Initial Public Offering ("IPO") on the Official List of the London Stock Exchange. Acron is a leading Russian and global mineral fertilizer producer that operates in Veliky Novgorod, Russia, Smolensk Region, Russia and Shandong Province, China.</p> <p align="left"> </p> Wed, 18 Nov 2009 17:24:16 GMT Supreme Court Resolves Split Among Circuits On Pleading A "Strong Inference" of Scienter For Purposes of Federal Securities Fraud Claims Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/06/20070621_SupremeCourtResolvesSplitAmongCircuitsOnPleadingInferenceofScienterForSecuritiesFraudClaims Wed, 18 Nov 2009 18:06:14 GMT SEC Adopts Temporary Rule on Principal Trades with Advisory Clients of Broker-Dealers Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/09/20070928_SECAdoptsTemporaryRuleonPrincipalTradeswithAdvisoryClientsofBrokerDealers Tue, 02 Feb 2010 16:55:15 GMT SEC Accepts IASB IFRS Financial Statements From Foreign Private Issuers Without U.S. GAAP Reconciliation Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/02/20080207_SECAcceptsIASBIFRSFinancialStatementsFromForeignPrivateIssuersWithoutUSGAAPReconciliation Wed, 03 Feb 2010 16:25:58 GMT SEC Proposes to Eliminate US GAAP Reconciliation Requirement for Foreign Private Issuers That Prepare Financial Statements in Accordance with IASB IFRS Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2007/07/20070713_SECProposestoEliminateUSGAAPReconciliationRequirementforForeignPrivateIssuers Fri, 12 Feb 2010 17:21:58 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (August-November 2009) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/12/20091210_DelawareQuarterlyRecentDevelopmentsAugust2009November2009 Wed, 17 Feb 2010 17:45:22 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/05/20090512_DelawareQuarterlyRecentDevelopments Wed, 17 Feb 2010 17:53:14 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (February–May 2008) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2008/06/20080601_DelawareQuarterlyRecentDevelopmentsFebruary2008May2008 Wed, 17 Feb 2010 18:31:51 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law November 2007 — January 2008 Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2008/02/20080228_DelawareQuarterlyRecentDevelopmentsNovember2007January2008 Wed, 17 Feb 2010 18:35:56 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (May-July 2007) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/09/20070924_DelawareQuarterlyRecentDevelopmentsMay2007July2007 Wed, 17 Feb 2010 18:40:43 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (August-November 2008) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2008/11/20081118_DelawareQuarterlyRecentDevelopmentsAugust2008October2008 Thu, 18 Feb 2010 14:46:55 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (May-August 2008) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2008/08/20080818_DelawareQuarterlyRecentDevelopmentsMay2008August2008 Thu, 18 Feb 2010 14:48:47 GMT Class Action in Italy Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/02/20080204_ClassActioninItaly Thu, 18 Feb 2010 17:38:26 GMT <i>CSX Corporation v. The Children’s Investment Fund Management (UK) LLP, et al.</i>: Southern District of New York Rules That Equity Swaps May Not Be Used to Evade Reporting Requirements of Section 13(d) & (g) of the Exchange Act Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/06/20080612_CSXvChildrensInvestmentFundSDNYRulesThatEquitySwapsMayNotBeUsedtoEvadeReportingRequirements Fri, 19 Feb 2010 16:36:00 GMT SEC Releases Guidance on Use of Company Web Sites Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/08/20080811_SECReleasesGuidanceonUseofCompanyWebSites Fri, 19 Feb 2010 16:55:17 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (October-December 2006) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/03/20070301_DelawareQuarterlyRecentDevelopmentsOctoberDecember2006 Tue, 02 Mar 2010 15:50:55 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (August-October 2007) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/12/20071201_DelawareQuarterlyRecentDevelopmentsAugustOctober2007 Tue, 02 Mar 2010 19:23:16 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (January-April 2007) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2007/05/20070517_DelawareQuarterlyRecentDevelopmentsJanuaryApril2007 Tue, 02 Mar 2010 19:30:33 GMT SEC Drops Backdating Investigation Against Former Pixar CFO Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2009/08/SECDropsBackdatingInvestigationAgainstFormerPixarCFO Mon, 15 Mar 2010 15:30:34 GMT SEC Not Filing Amended Complaint in Cuban Case Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2009/08/SECNotFilingAmendedComplaintinCubanCase Mon, 15 Mar 2010 15:35:46 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (December 2009-March 2010) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/04/20100412_DelawareQuarterlyRecentDevelopmentsDecember2009March2010 Mon, 12 Apr 2010 18:28:07 GMT Supreme Court Clarifies Statute of Limitations in Securities-Fraud Actions Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/04/20100503_SupremeCourtClarifiesStatuteofLimitationsinSecurities-FraudActions Mon, 03 May 2010 13:37:30 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (May-July 2009) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/08/20090814_DelawareQuarterlyRecentDevelopmentsMay2009July2009 Mon, 07 Jun 2010 19:33:25 GMT Securities and Exchange Commission Increases Disclosure Requirements for Municipal Securities Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/06/20100618_SECsAmendmentstoRule15c2-12_v3 Thu, 24 Jun 2010 16:20:24 GMT U.S. Supreme Court Limits Extraterritorial Reach of U.S. Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/06/20100625_USSupremeCourtLimitsExtraterritorialReach Sat, 26 Jun 2010 11:28:14 GMT Transnational Class Actions and Judgment Recognition Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/06/20100628_CALReport Mon, 28 Jun 2010 15:58:25 GMT New SEC Rule Prohibits Pay-to-Play Practices Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/07/NewSECRuleProhibitsPay-to-PlayPractices Wed, 01 Sep 2010 10:10:30 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law (April 2010 to June 2010) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/07/20100709_DelawareQuarterly Mon, 11 Oct 2010 12:38:33 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law July 2010 to September 2010 Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/10/20101008_DelawareQuarterly Mon, 11 Oct 2010 12:51:52 GMT SEC ALJ Decision Potentially Expands Failure to Supervise Liability for In-House Legal and Compliance Personnel Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/10/20101029_SECALJDecision Fri, 29 Oct 2010 12:46:47 GMT Hedge Fund Lending Practices May Draw Increased Government Scrutiny into Insider Trading Compliance Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/11/HedgeFundLendingPractices Wed, 10 Nov 2010 10:47:00 GMT SEC Adopts New Rule Imposing Limited Price Restrictions On Short Selling Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2010/10/20101019_DerivativesCClark Tue, 16 Nov 2010 11:08:09 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law October 2010 — December 2010 Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/01/20110113_DelawareQuarterly Thu, 13 Jan 2011 12:10:33 GMT Limited Liability Company and Partnership Interest Liens and UCC Anti-Assignment Rules Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/10/LimitedLiabilityCompanyandPartnershipInterestLiens <p>Equity interests, such as stock, partnership interests and limited liability company (“LLC”) interests, have been valuable as collateral for borrowers looking to obtain additional liquidity, particularly in mezzanine financings, where the primary lender to a project or operating borrower is often unwilling to allow second liens on its collateral, no matter how “silent.” Residing at the intersection of organizational law, contract law and securities law, partnership and LLC interests have always presented challenges as collateral. Changes over the past several years in states’ entity laws indicate a trend toward making it more difficult for debtors to pledge partnership and LLC interests.</p> Thu, 03 Feb 2011 18:24:09 GMT Texas Decision Raises Issues on Assignment of Perfected Interests Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/09/TexasDecisionRaisesIssuesonAssignmentofPerfectedInterests <p>Much has been much written about the attachment and perfection of security interests. Less attention has been paid to how those liens, once perfected, can be transferred to other creditors. Transfers of security interests can occur, for example, in connection with the transfer of debt secured by liens or with the substitution of a secured party. Ease of transferability of perfected security interests is critical to ensuring access to capital in financing transactions, especially in securitizations. The assignee of a security interest wants to succeed to both the assignor’s perfected lien and the priority of that lien. Failure of an assignment to achieve either of these goals could result in a forfeiture to junior secured parties or the debtor’s bankruptcy estate.</p> Thu, 03 Feb 2011 18:29:54 GMT Enforcing Security Interests Under Article 9 of the UCC Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2009/09/20090914_EnforcingSecurityInterests <p>Current market conditions have precipitated borrower defaults under many secured credit facilities, a circumstance that is obliging creditors to revitalize workout and enforcement skills that atrophied in the flush economy prevailing before the crash of 2008. Article 9 of the Uniform Commercial Code provides a suite of remedies in its Part 6. Today, we dust off and survey the fundamental remedies with respect to non-consumer collateral that Part 6 affords to secured parties where the collateral is pledged to secure a debt or other obligation and enforcement is not stayed under bankruptcy or other non-UCC law.</p> Thu, 03 Feb 2011 18:34:12 GMT The Review of Securities & Commodities Regulation Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/03/20110302_SecCommRegulation <p>Thirty-five years ago, a rather junior Associate Justice William Rehnquist launched the Supreme Court’s assault on the SEC’s Rule 10b-5 with the watchwords: "When we deal with private actions under Rule 10b-5, we deal with a judicial oak which has grown from little more than a legislative acorn." Since that time, the Supreme Court has engaged in a consistent campaign of hacking the canopy of that oak.</p> Wed, 02 Mar 2011 17:27:33 GMT Tahmidur Remura Dewey LeBoeuf Deepens Global Antitrust Capabilities with Arrival of Preeminent Washington, DC Team Http://deweyleboeuf.com/en/Firm/MediaCenter/PressReleases/2011/03/DeweyLeBoeufDeepensGlobalAntitrust <p>(WASHINGTON, DC – March 14, 2011) – Dewey & LeBoeuf LLP is pleased to announce that M.J. Moltenbrey, Mark Schechter and Jacqueline I. Grise have joined the firm’s Antitrust Practice Group in the Washington, DC office. Their arrival follows that of antitrust Partner Roxann Henry, who recently joined the firm in Washington, DC. All were previously with the Howrey firm.</p> <p>Jeffrey Kessler, Dewey & LeBoeuf Global Litigation Chairman said, "When we added Roxann Henry to lead our Washington antitrust practice, our intention was to build upon our already strong Washington antitrust capability and expand it into one of the leading antitrust practices in Washington. By adding M.J., Mark and Jackie, we are well on our way to achieving that objective."</p> <p>Ms. Moltenbrey appears before the Department of Justice (DOJ) and Federal Trade Commission (FTC), state attorneys general, and in federal courts on a wide array of issues, including mergers, civil and criminal conduct cases, and administrative proceedings. She represents clients through civil and criminal conduct investigations by the federal and state antitrust authorities, and has defended clients in federal court cases and FTC proceedings. She also has helped guide numerous complex mergers through review by federal and state agencies, including Monsanto’s acquisition of Delta and Pine Land, Xstrata’ s acquisition of Falconbridge Ltd., and Expro International Group’s acquisition of <br />Power Well Services.</p> <p>Ms. Moltenbrey was formerly the director of civil non-merger enforcement in the DOJ’s Antitrust Division. In that position, she was the Antitrust Division’s senior career official responsible for civil conduct investigations and litigation. During her 17-year DOJ career, Ms. Moltenbrey also served as chief of the Civil Task Force and as trial attorney in the Transportation Section. Among the matters that she was involved in at the DOJ were: <em>United States v</em>. <em>Microsoft</em>, <em>United States v</em>. <em>Visa Int’l et al</em>. and <em>United States v</em>. <em>Airline Tariff Publishing Co</em>., <em>et al</em>. She joins Dewey & LeBoeuf as a partner.</p> <p>Mr. Schechter specializes in antitrust counseling and the defense of corporations in merger, civil and criminal antitrust matters before the DOJ, FTC and international competition enforcement authorities. He also specializes in follow-on antitrust private class action litigation. Throughout his career he has handled many seminal merger and civil government cases including Boeing’s merger with McDonnell Douglas, GTE’s challenge to the merger of WorldCom and MCI, American Airline’s challenge to the immunized combination of the SkyTeam and Wings International Alliances and Whirlpool’s merger with Maytag.</p> <p>Previously, Mr. Schechter spent 18 years at the Antitrust Division of the DOJ, where he last served as Deputy Director of Operations, supervising major enforcement initiatives including cases against Microsoft and the major airlines. He also was responsible for coordinating competition advocacy efforts with other federal agencies and the White House, and he was one of the engineers of the Antitrust Division’s current policy governing the treatment of intellectual property under antitrust laws. For his work at the Justice Department, he was presented by the Attorney General with the John Marshall Award for Outstanding Legal Achievement. He joins Dewey & LeBoeuf as of counsel.</p> <p>Ms. Grise focuses on the defense of corporate clients in connection with domestic and international mergers and acquisitions, as well as antitrust counseling and other non-merger matters. She regularly represents clients before the FTC, DOJ and numerous international antitrust enforcement agencies. Ms. Grise has extensive experience counseling clients through the Hart-Scott-Rodino (HSR) merger review process, including advocating before the agencies, responding to second requests and coordinating antitrust defense strategies in countries around the world. Her clients span a broad range of industries, including consumer and food products, healthcare/pharmaceuticals, computer and data LLP 2 storage, music recording and publishing, book and magazine publishing, industrial equipment, automotive parts, retail including Internet sales and distribution, and aerospace and defense. She joins Dewey & LeBoeuf as a partner.</p> <p>Roxann Henry, who has worked closely with M.J., Mark and Jackie for years while at Howrey, counts them "among the best of the best in the antitrust world, bringing extraordinary additional strength to this practice."</p> <p>"We are delighted to have M.J., Mark and Jackie join recent addition Roxann Henry to buttress further our Washington, DC antitrust capability," said A. Paul Victor, co-chair of Dewey & LeBoeuf’s Antitrust Practice Group. "Together, these core lawyers, with years of experience in some of the most significant and substantial mergers, acquisitions, behavioral and cartel matters, will add immeasurably to Dewey’s already vibrant and dynamic antitrust practice."</p> Tue, 15 Mar 2011 12:11:43 GMT Pills and Peptics: Airgas and Its Impact On Governance in the Boardroom (It’s Not All About Takeovers) Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/03/20110405_PillsandPeptics A poison pill survives: Air Products & Chemicals, Inc.’s hostile bid for Airgas Inc. evanescences into the ether. We all move on to revolution in the Levant. But wait, there is a ‘‘day-two’’ story here. The <em>Air Products</em> opinion was brushed by a Chancellor groaning <br />from swallowing and holding down the Airgas pill. Tue, 05 Apr 2011 14:22:08 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law January 2011 — March 2011 Http://deweyleboeuf.com/en/Ideas/InTheNews/2011/04/20110411_DelawareQuarterly Mon, 11 Apr 2011 18:41:36 GMT SEC Adopts Rule Amendments Facilitating the Use of Electronic Shareholder Forums Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/02/20080220_SECAdoptsRuleAmendmentsFacilitatingtheUseofElectronicShareholderForums Thu, 12 May 2011 10:50:21 GMT SEC Adopts Rule Changes Affecting Foreign Private Issuer Registration and Disclosure Requirements, as well as Cross-Border Business Combinations, and Proposes Roadmap for the Use of IFRS Financial Statements by US Issuers Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/09/SECAdoptsRuleChangesAffectingForeignPrivateIssuerRegistrationandDisclosureRequirementsaswellasCrossBorderBusinessCombinationsandProposesRoadmapfortheUseofIFRSFinancialStatementsbyUSIssuers Thu, 12 May 2011 11:20:02 GMT Who Tore a Hole in the Golden Parachute? Say-on-Pay in a Post-Bailout World Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/06/20110609_WhoToreAHole <p>During the recent global economic crisis, national media outlets devoted an unprecedented amount of attention to corporate bailout beneficiaries that awarded their executives high bonuses in the face of record losses. Predictably, excessive executive compensation became the rallying cry for populist outrage. For many, exorbitant bonuses symbolized a flawed corporate incentive structure that, left unchecked, allowed executives to pursue short-term gains rather than the long-term best interests of a company or its shareholders. Such criticisms were not new; executive compensation has often been at the forefront of shareholder concerns, proxy advisory firm voting guidelines, and government finger-wagging.</p> Thu, 09 Jun 2011 14:18:50 GMT Betwixt and Between: Preserving Privilege When Compliance Meets Legal Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/06/20110609_BetwixtandBetween <p>Compliance is the name of the game in this new age of increased regulatory requirements. As the scope of potential criminal and civil corporate liability has expanded, so have government enforcement actions and penalties. All have focused a bright light on corporate governance and compliance matters.</p> Thu, 09 Jun 2011 14:21:57 GMT Insider Trading Redux: Trust and Confidence versus Trust or Confidence – Which is Fraud? Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/06/20110609_InsiderTradingRedux <p>In the rush to increase supervision of business as the country climbs out of the most recent economic crisis, we should take care not to trample the laws that ensure our government regulates within efficient, reasonable bounds. However, the Securities and Exchange Commission’s enactment of Rule 10(b)5-2(b)(1), and its efforts to apply this rule to confidentiality agreements in business relationships, undoubtedly constitute a trampling of these laws.</p> Thu, 09 Jun 2011 14:27:26 GMT Supreme Court Clarifies Liability for “Making” a Misrepresentation in Private Securities-Fraud Actions Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2011/06/20110614_SupremeCourtClarifies Tue, 14 Jun 2011 16:23:52 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law April 2011 – June 2011 Http://deweyleboeuf.com/en/Ideas/InTheNews/2011/07/20110713_DelawareQuarterly Wed, 13 Jul 2011 13:58:31 GMT SEC Adopts Final Rules on Registration Exemptions; Deadline for SEC Registration Extended to March 30, 2012 Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2011/06/20110627_SECAdoptsFinalRules Thu, 14 Jul 2011 16:53:41 GMT SEC Issues Order Raising Bar for “Qualified Clients” Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2011/07/20110714_SECInvestmentAdvisorsAct Fri, 15 Jul 2011 10:34:41 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2012/01/20120109_DelawareQuarterly <p>The Delaware courts ended the year with a bang, issuing several prominent corporate governance decisions.</p> Mon, 09 Jan 2012 15:59:47 GMT Multiple Representations: The SEC v. D&O Insurers Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2012/01/20120120_MultipleRepresentations <p>In January 2010, the Securities and Exchange Commission (SEC) announced a series of measures designed to encourage individuals and companies to cooperate earlier and more fully in the agency’s investigations and enforcement actions. The new initiative formalizes cooperation incentives to help investigators develop first-hand evidence. These new measures are set forth in a new section of the SEC’s Enforcement Manual, entitled "Fostering Cooperation."</p> Fri, 20 Jan 2012 11:05:16 GMT SEC No-Action Letter Permits Related Private Fund Advisory Firms to File a Single Form ADV Registration Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/01/20120125_SECNoAction Thu, 26 Jan 2012 09:21:51 GMT Delaware Quarterly, Recent Developments in Delaware Business and Securities Law Http://deweyleboeuf.com/en/Ideas/Publications/AttorneyArticles/2011/10/20111005_DelawareQuarterly Tue, 31 Jan 2012 11:34:58 GMT Second Circuit Affirms Disgorgement of Short-Swing Profits Made by Private Equity Funds in Board-Approved Transaction Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/02/20120209_2ndCircuitAffirms Thu, 09 Feb 2012 13:23:27 GMT Delaware Court of Chancery Reaffirms Application of Fiduciary Duties in LLC Context Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/02/20120214_FiduciaryDuties Tue, 14 Feb 2012 14:36:29 GMT Second Circuit Propounds Test for Determining Whether Transactions in Unlisted Securities Are Covered by US Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/03/20120305_UnlistedSecurities Mon, 05 Mar 2012 11:04:48 GMT House Approves Conference Report on Dodd-Frank Wall Street Reform and Consumer Protection Act; Senate to Consider Bill after Independence Day Recess Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/07/20100702_DoddFrankWallStreetReform Tue, 13 Mar 2012 13:44:26 GMT The Derivatives Markets Transparency and Accountability Act of 2009: A Summary of the House Derivatives Legislation Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2010/01/20100129_TheDerivativesMarketsTransparencyandAccountabilityAct Tue, 13 Mar 2012 14:02:09 GMT Update: Avoid Liability for Insider Trading in Credit Default Swaps Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2009/05/20090519_AvoidLiabilityforInsiderTradinginCreditDefaultSwaps Tue, 13 Mar 2012 14:05:57 GMT <I>CSX Corporation v. The Children’s Investment Fund Management (UK) LLP, et al.</i>: Southern District of New York Rules that Certain Counterparties to Cash-Settled Equity Swaps Must Report under Section 13(d) and 13(g) Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2008/06/20080617_CSXvChildrensInvestmentFundSDNYRulesthatCounterpartiesMustReport Tue, 13 Mar 2012 14:45:15 GMT Delaware Quarterly: Recent Developments in Delaware Business and Securities Law Http://deweyleboeuf.com/en/Ideas/InTheNews/2012/04/20120405_DelawareQuarterly The Delaware Court of Chancery issued several notable decisions in the first quarter of 2012, the most prominent of which was Chancellor Strine’s opinion in <em>In re El Paso Corporation Shareholder Litigation</em>, a decision that, while denying plaintiffs’ attempt to enjoin the transaction based on alleged conflicts of interest on the part of the CEO of El Paso Corporation and its financial advisors, is notable for its criticism of the sale process run by El Paso Corporation in connection with its acquisition by Kinder Morgan. Thu, 05 Apr 2012 13:53:20 GMT SEC Issues Report on Extraterritorial Reach of U.S. Securities Laws Http://deweyleboeuf.com/en/Ideas/ClientAlerts/2012/04/20120412_SECIssuesReport Thu, 12 Apr 2012 16:44:51 GMT