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Auditors Caught Between U.S., Chinese Disclosure Laws
The SEC last week charged Deloitte's Chinese division with failing to respond to a subpoena to turn over work papers on behalf of a Chinese client listed on a U.S. stock exchange. The SEC's action raises significant issues of sovereignty and regulation between the U.S. and China, says O'Melveny & Myers partner Seth Aronson in this Q&A.Panel Urges Caution on Sanctions for Failure to Preserve Data
In a report comparing federal and state case law in New York, a panel of judges has found potential inconsistencies in the laws governing the pre-litigation duty to preserve electronically stored information that could result in an inconsistent application of sanctions in the 2nd Circuit.Merrill Lynch & Co. Inc. v. Allegheny Energy Inc.
Fraudulent Inducement Claim Fails; Energy Company Must Pay $115 Million in Suit Over Trading UnitPaul Hastings thins ranks by 131, including 44 lawyers
Paul, Hastings, Janofsky Walker has announced layoffs, affecting both lawyers and staff. The firm said Tuesday that it will cut 44 associates and 87 staff from its U.S. offices, as first reported on the legal blog AbovetheLaw.com. This is the first time Paul Hastings has announced it's reducing head count because of the recession.Manuel Ortiz | Brownstein Hyatt Farber Schreck
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Pittsburgh Magistrates Court Loses State Funding
Pittsburgh - Like erstwhile steel mills, sandwiches laden with cole slaw and fries or the Monongahela Incline, Magistrates Court is unique to Pittsburgh, a quirky institution that is unheard of in other parts of the state.Ovesen v. Mitsubishi Heavy Industries of America Inc.
Law's Repose Statute Bars Suit Against Maker Of Airplane Sold in 1972, Crashed in 2002Binding Settlements Through E-Mail?
As e-mail continues to impact the modern landscape of litigation, it's important to consider the effect of common e-mail communications between counsel on the enforceability of settlement agreements. The apparent informality of e-mail is a potential trap for the unwary. Attorney Kevin Schlosser spins a cautionary tale as he examines two recent New York decisions with opposite results, one from the Appellate Division, 2nd Department, and one from the U.S. District Court for the Eastern District of New York.Local Laws Do Not Impair Mayor's Authority, Court Says`
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