ArticleUnderfunded Pension Liability: Lenders And Buyers BewareUnderfunded defined benefit pension plans have always carried a certain amount of risk. United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleNew SEC Rules Modify Form D Disclosure Requirements, Mandate Electronic Filing Of Form D And Require Annual AmendmentsThe Securities and Exchange Commission (the “SEC”) recently adopted revisions to Regulation D under the Securities Act of 1933 (the “Securities Act”) that become effective on March 16, 2009.United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleFraud Enforcement And Recovery Act Of 2009: Congress Amends Money Laundering And Criminal Fraud Statutes To Expand Their Scope And PenaltiesOn May 20, 2009, the President signed into law the Fraud Enforcement and Recovery Act of 2009 (“FERA”). United StatesCriminal LawFried Frank Harris Shriver & Jacobson
ArticleFourth Circuit Applies The Wartime Suspension Of Limitations Act To The Civil False Claims ActThe False Claims Act’s six-year statute of limitations took a body blow on March 18, 2013 when a split panel of the Fourth Circuit Court of Appeals ruled that the Wartime Suspension of Limitations Act, 18 U.S.C. § 3287 applies to certain FCA claims. United StatesCriminal LawFried Frank Harris Shriver & Jacobson
ArticleSEC Disclosure Obligations Of Certain Activities Associated With IranThe Iran Threat Reduction and Syria Human Rights Act of 2012 significantly expanded sanctions against persons who deal with Iran. United StatesGovernment, Public SectorFried Frank Harris Shriver & Jacobson
ArticleProposed Changes To The UK Takeover Code Relating To The Impact Of Takeover Bids On Target Company Pension PlansOn 22 April 2013 the Takeover Panel (the Panel) announced changes to the City Code on Takeovers and Mergers (the City Code).United KingdomCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleUndercover DOJ Sting Operations For FCPA Violations: A New Level Of EnforcementTwenty-two executives and employees of companies in the law enforcement and military equipment industry were arrested on January 18 for violations of the Foreign Corrupt Practices Act ("FCPA"), in the first ever Department of Justice ("DOJ") foreign bribery investigation using undercover federal agents. United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleCIVIL FALSE CLAIMS ACT: Here They Go Again – Newly Enacted Comprehensive Health Care Reform Law Contains More FCA AmendmentsIn May of last year, Congress enacted a dramatic revision to the substantive provisions of the civil False Claims Act, but left alone the key jurisdictional "public disclosure / original source" bar put in place by Congress in 1986 to avoid parasitic qui tam suits. United StatesCriminal LawFried Frank Harris Shriver & Jacobson
ArticleCIVIL FALSE CLAIMS ACT: Sixth Circuit Joins Second And Fifth Circuits In Holding That FCA Claims Based On Implied False Certifications Must Allege And Prove That The Alleged Violation Was A Prerequisite To PaymentLast week, in a False Claims Act ("FCA") case based on the so-called "implied false certification theory," the Sixth Circuit held that the plaintiff must plead a violation that is a "prerequisite to payment" and applied this requirement as a necessary element of proof of "falsity" under that theory. United StatesCriminal LawFried Frank Harris Shriver & Jacobson
ArticleSEC And FASB Update Oil And Gas Interpretations and StandardsOn December 31, 2008, the SEC announced significant revisions to the rules governing disclosures by oil and gas companies. United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleUK Corporate Update – Recent Cases Of InterestThere have been a number of recent English Court judgments of interest in the corporate field and this corporate update reports on cases relevant in relation to warranties and representations in M&A transactions, restrictive covenants in acquisition agreements, the enforcement of foreign judgments in cross-border insolvency proceedings and the piercing of the corporate veil.United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleCivil False Claims Act: Eighth Circuit Rejects Justice Department Efforts To Avoid Paying Relators’ Share On Settlement "Unrelated" To Relators’ Qui Tam ClaimsThe Justice Department received an unpleasant surprise last week. United StatesCriminal LawFried Frank Harris Shriver & Jacobson
ArticleSEC Approves Amendments To NASD Rule 2720 Which Governs Conflicts Of Interest In Public OfferingsThe Securities and Exchange Commission ("SEC") has recently approved amendments to NASD Rule 2720 previously proposed by the Financial Industry Regulatory Authority ("FINRA") governing public offerings of securities in which a broker-dealer with a conflict of interest participates.United StatesFinance and BankingFried Frank Harris Shriver & Jacobson
ArticleThe First SEC Non-Prosecution Agreement: Another Arrow in the QuiverThe SEC announced its first non-prosecution agreement last week, a four-page agreement with a children’s clothing marketer, Carter’s Inc., on December 17, 2010.United StatesFinance and BankingFried Frank Harris Shriver & Jacobson
ArticleSEC Updates Reporting Requirements For Oil And Gas CompaniesThe SEC recently published its final rule release (the “Adopting Release”) announcing significant revisions to its rules governing disclosures by oil and gas companies. United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleFSA Insider Dealing Enforcement Intensifies Through Transatlantic Cooperation and Criminal ProsecutionsThe recent global financial crisis has led to an increased emphasis on cross-border regulatory enforcement. United StatesFinance and BankingFried Frank Harris Shriver & Jacobson
ArticleSEC Issues Interpretive Guidance Concerning Climate Change DisclosureOn February 2, 2010, the U.S. Securities and Exchange Commission ("SEC") published an interpretive release to provide guidance to public companies on the application of existing SEC disclosure requirements to climate change matters (the "Climate Change Guidance").United StatesEnvironmentFried Frank Harris Shriver & Jacobson
ArticlePE Funds Face Investment Structuring Issues As Financial Markets Recover - Part 2The manner by which the agencies that oversee U.S. financial institutions regulate private equity investment in the banking business profoundly affects the ability of failing banks to attract capital, avoid taxpayer bailouts and minimize losses to the Deposit Insurance Fund. United StatesFinance and BankingFried Frank Harris Shriver & Jacobson
ArticleUK Corporate Update 18 Nov 2013This corporate update gives an overview of recent rule changes in respect of director remuneration and summarises recent decisions relating to good faith obligations, MAC provisions and unjust enrichment.United StatesCorporate/Commercial LawFried Frank Harris Shriver & Jacobson
ArticleCIVIL FALSE CLAIMS ACT: Tenth Circuit Breaks New Ground by Requiring Dismissal of Reverse False Claim Jury Verdict Based on "Allison Engine" Intent RequirementThe Tenth Circuit‟s groundbreaking decision in "United States ex rel. Bahrani v. ConAgra, Inc.", No. 09-1163, 2010 WL 4188251 (10th Cir. Oct. 26, 2010) ("Bahrani II") demonstrates the power and scope of the intent requirement that emerged from the Supreme Court‟s 2008 decision in "Allison Engine Co. v. United States ex rel. Sanders", 553 U.S. 662 (2008). United StatesCriminal LawFried Frank Harris Shriver & Jacobson