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Pennsylvania has now joined New Jersey in ruling that auditors aren't always protected by the common law doctrine. Will New York be next?
For the second time in less than a week, a Delaware Chancery Court judge had harsh words for a CEO seeking to sell his company in a multibillion-dollar deal, but stopped short of blocking the proposed sale.
Two new California state court suits filed by Grais were the subject of a Sunday New York Times column that noted his strategy of steering clear of hard-to-prove fraud allegations. But there are still a raft of defense firms standing between Grais and a big payday.
Will Majority Rule Prevail in Electing Corporate Boards?
Majority voting is the big issue of proxy season 2006, dividing businesses and their outside counsel as well. This year more than 140 businesses faced proposals from shareholder activists wanting to alter methods of electing board members. Activists seeking the change hope to increase board members' accountability. Those opposed say it will destabilize companies, letting parties with short-term interests sway board composition. But both sides agree majority voting marks a shift in corporate power dynamics.AOL, DOJ Talks In Question in Microsoft Case
Microsoft Corp. attorneys on Friday grilled America Online Inc. chief executive Steve Case about how closely the company worked with the Justice Department last fall to keep merger negotiations between Netscape Communications Corp. and AOL secret at the height of the software giant's antitrust trial. At issue is a conversation between AOL's then-general counsel George Vradenburg III and David Boies, the government's lead attorney.Sure, the Plavix pay-to-delay deal was a notorious disaster for Bristol, but you can't make a case based on shoulda, woulda, and coulda.
How Many Lawyers Does It Take to Do a Merger?
Usually, when he's lawyering a corporate merger or acquisition, James McKenzie Jr. of Morgan, Lewis & Bockius is dealing with one other law firm. This time, the Philadelphia attorney found himself sitting across the table from four large New York firms for a deal involving Sony, Time Warner and CDNow.Trending Stories
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