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WorldCom's SEC Penalty Approved
U.S. Bankruptcy Judge Arthur Gonzalez approved a $750 million settlement between WorldCom Inc. and the Securities and Exchange Commission that resolves a historic civil fraud suit and breaks new ground in bankruptcy law. The fine, approved at a hearing late Wednesday, Aug. 6, is the SEC's largest ever against a public company and is the first to make use of provisions in the Sarbanes-Oxley Act.Proxy Battle Quelled, Pharmos Will Proceed With Acquisition of Vela
Pharmos Corp., a company working to develop drugs that offer marijuana-like analgesic relief, has averted a painful proxy battle and litigation that could have unseated its CEO and founder.Report accuses law firm of costly delay in probe
Climate Heats Up for Eco-Practices as Sheppard Mullin Adds Group
Sheppard, Mullin, Richter & Hampton is the latest firm to create a practice group around global climate change. When California passed a bill to cap greenhouse gas emissions in 2006, "that really got our clients' attention," says M. Elizabeth McDaniel, Sheppard's co-leader of the new group. While it's common for law firms to create practice groups to respond to trends, lawyers involved say there's more to this than just some flimsy marketing agenda.WorldCom's SEC Penalty Approved
U.S. Bankruptcy Judge Arthur Gonzalez on Wednesday approved a $750 million settlement between WorldCom Inc. and the Securities and Exchange Commission that resolves a historic civil fraud suit and breaks new ground in bankruptcy law.Statute of Limitations Issue Sent to Arbitrator
A recent state court ruling helped define under what conditions an arbitrator rather than a judge must determine whether the statute of limitations has expired in a dispute arising from a contract with an arbitration clause.Beantown's Real Estate Boom Has Firms Jumping
Law firms are cashing in on Boston's robust commercial and development market and adding real estate attorneys to collect the spoils. The building frenzy, coupled with brisk sales of high-rise buildings, is boosting revenue at the city's legal real estate strongholds. Elliot Surkin, the managing partner of DLA Piper's Boston office, says low office vacancy rates are driving the building surge. "We don't go home anymore, nobody has a family; we're very, very busy," Surkin quipped.Trending Stories
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