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Continuous stock ownership necessary to prosecution of derivative action
  • Alston & Bird LLP
  • USA
  • February 27 2008

The Supreme Court of California recently clarified the standing requirements for plaintiffs seeking to bring derivative actions


Policing breach of contract with fraud: Fourth Circuit adopts implied certification theory of liability under the FCA
  • Alston & Bird LLP
  • USA
  • May 18 2015

As every government contracts lawyer knows, the False Claims Act (FCA) was originally passed in the midst of the American Civil War to combat


SEC to accept financial statements prepared in accordance with IFRS from foreign private issuers without GAAP reconciliation
  • Alston & Bird LLP
  • USA
  • November 21 2007

At an open meeting on November 15, 2007, the Securities and Exchange Commission (SEC) approved amendments that will allow foreign private issuers to submit periodic reports or registration statements to the SEC that contain financial statements prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), without reconciliation to generally accepted accounting principles as used in the United States (US GAAP


Individual members of LLC personally liable for torts committed in furtherance of the LLC’s business
  • Alston & Bird LLP
  • USA
  • June 20 2012

In the South Carolina case of 16 Jade Street, LLC v. R. Design Construction Company, the court wrestled with the scope of protection from tort liability provided to individual members of a limited liability company


Hampshire v. Kuttner: Delaware court reviews fiduciary duties of corporate officers and remedies for breach
  • Alston & Bird LLP
  • USA
  • July 27 2010

In Hampshire Group, Limited v. Kuttner, et. al., the Delaware Court of Chancery recently addressed fiduciary duties and standards of conduct applicable to corporate officers when those officers were involved in conduct that benefited their superior officer and consciously caused the company to violate the law


Special Master for TARP Executive Compensation makes determinations regarding compensation structures for certain executive officers and most highly compensated employees 26 100 of four TARP recipients
  • Alston & Bird LLP
  • USA
  • December 11 2009

Treasury announced today that the Special Master for TARP Executive Compensation, Kenneth R. Feinberg, released letters to four of the remaining six firms that received exceptional assistance under the Troubled Assets Relief Program (AIG, Citigroup, GM and GMAC) giving his determinations on the compensation structures for the firms’ 26 100 most highly compensated employees and executive officers who were not subject to the Special Master's October 22, 2009 decisions (“Covered Employees”


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


Further word on appraisal rights from Delaware court: definition of “fair value”
  • Alston & Bird LLP
  • USA
  • January 27 2011

In Golden Telecom, Inc. v. Global GT LP, the Delaware Chancery Court recently reiterated its definition of “fair value,” rejecting arguments from both the company and the stockholder who exercised its appraisal rights under Section 262 of the Delaware General Corporation Law


Subcommittee holds hearing on accounting and auditing standards
  • Alston & Bird LLP
  • USA
  • May 21 2010

Today, the House Financial Services Committee's Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises held a hearing entitled "Accounting and Auditing Standards: Pending Proposals and Emerging Issues."


The cloudy status of a “profits interest” holder as an LLC member
  • Alston & Bird LLP
  • USA
  • March 24 2015

The existence of federal jurisdiction in this case turned on whether an individual who held an unvested profits interest in a limited liability