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USA - November 15 2010
After years of discussion, the Securities and Exchange Commission recently adopted controversial new rules that require public companies to include the director nominees proposed by their large shareholders or shareholder groups in their proxy materials.
USA - August 17 2010
Section 404(a) of the Sarbanes-Oxley Act of 2002 ("SOX") requires that each annual report required to be filed by a company pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") contain its management's assessment of the effectiveness of the company's internal control structure and procedures for financial reporting.
USA - July 27 2010
The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") into law on July 21, 2010, changes the test for determining a natural person's accredited investor status for private placements of securities under Section 501(a)(5) of Regulation D of the Securities Act of 1933.
USA - April 21 2010
Several months ago, the EEOC filed a complaint against the international law firm Kelley Drye & Warren LLP on behalf of a partner at the firm, alleging that Kelley Drye's policy of stripping partners of their equity at age 70 constitutes an unlawful employment practice in violation of the Age Discrimination in Employment Act (ADEA).
USA - February 16 2010
Several years ago, the controversial issue of mandatory retirement of law firm partners reached the Seventh Circuit, which rendered an equivocal decision resulting in an expensive settlement for Sidley Austin LLP.
