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Results: 1-10 of 230

SEC launches EESA-mandated study of “mark-to-market” accounting standards

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 8 2008

Yesterday, the SEC announced details of the process and initial steps that the SEC has undertaken to conduct a study on "mark-to-market" accounting

Mere allegations regarding management’s knowledge of “core operations” fail to satisfy the scienter pleading requirement

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 8 2008

In a recent decision, the Ninth Circuit Court of Appeals considered the following question: whether allegations that the defendants had knowledge of a company’s “core operations” could be used to satisfy the requirement of pleading fraudulent intent or “scienter” under the Private Securities Litigation Reform Act

Derivative action dismissed due to inadequate plaintiff

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 6 2008

Federal Rule of Civil Procedure 23.1 requires that a shareholder derivative action be dismissed “if it appears that the plaintiff does not fairly and adequately represent the interest of shareholders.”

Treasury announces executive compensation rules under EESA

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 20 2008

As widely publicized, the Emergency Economic Stabilization Act of 2008 contains limits on executive compensation for financial institutions that participate in the Troubled Asset Relief Program (TARP

SEC hosts roundtable discussion on mark-to-market accounting

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 3 2008

On October 29, 2008, the Securities and Exchange Commission (SEC) hosted the first of its two roundtable discussions on mark-to-market accounting

SEC hosts roundtable on mark-to-market accounting; FASB and IASB also to hold roundtables

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 3 2008

Last Wednesday, October 29, 2008, the SEC hosted the first of its two roundtable discussions on mark-to-market accounting

Countrywide derivative action dismissed because plaintiffs lacked standing

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 11 2008

In a recent decision by District Court for the District of Delaware, the court dismissed a shareholder derivative action brought by former shareholders of Countrywide Financial Corp. (CFC), which was based primarily on insider trading allegations against the CFC Board of Directors

China announces stimulus package; steps to achieve growth

  • Alston & Bird LLP
  • -
  • China
  • -
  • November 10 2008

Yesterday, China announced a 4 trillion yuan (about $570 billion) stimulus package to be implemented over the next two years to “loosen credit conditions, cut taxes and embark on a massive infrastructure spending program in a wide-ranging effort to offset adverse global economic conditions by boosting domestic demand.”

FAF cautions against political interference with accounting standards on eve of G-20 summit

  • Alston & Bird LLP
  • -
  • Global
  • -
  • November 14 2008

Today, on the eve of the G-20 summit, Robert E. Denham, Chairman of the Financial Accounting Foundation (FAF), the independent oversight body of the U.S. Financial Accounting Standards Board (FASB) issued a letter to President Bush, to be circulated to participants attending the summit, reiterating substantially the same sentiments as those expressed in the letter the President received earlier this week from Gerrit Zalm, Chairman of the Trustees of the IASC Foundation, the oversight body for the International Accounting Standards Board (IASB

Senate and House Committees hold hearings on current condition of U.S. auto industry

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 20 2008

This week, the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services held hearings on the current condition of the domestic automobile industry, in response to the industry’s request that Congress provide emergency relief to several of its companies, and following on the heels of proposed auto relief legislation introduced earlier this week by House and Senate leadership