The closely watched Massachusetts cannabusiness case, Crimson Galeria Limited Partnership, et al. V. Healthy Pharms, Inc., et al., has been dismissed
Florida Statute section 542.335(1)(b) provides a nonexclusive list of "legitimate business interests" that are protected under non-compete agreements.
The Securities and Exchange Commission (SEC) has proposed new rules that will make it substantially more costly and difficult for startups and early stage companies to raise capital.
In Sibley & Associates LP v. Ross, 2011 ONSC 2951 (S.C.J.), Justice Strathy of the Superior Court of Justice has clarified inconsistent jurisprudence on the ‘fraud exception’ in ex parte applications for Mareva injunctions: he found that evidence of a real risk that the assets in question may be dissipated or transferred out of the jurisdiction is required, and the idea that evidence of fraud alone was an accepted basis was wrong.
California residents have filed a putative class action in federal court against a company that promotes its granola, cookie and trail mix products as “100 Pure and Natural,” despite making them with some purportedly synthetic ingredients.
The Second Circuit affirmed summary judgment and a $1.9 million award to the Federal Trade Commission in a suit the agency brought against Bronson Partners and its principals over two weight loss products, the Bio-Slim Patch and Chinese Diet Tea.
The SEC failed to overturn a directed verdict entered in favor of Engineered Support Systems, Inc. outside director Michael F. Shanahan Jr. in an options backdating case. SEC v. Shanahan Jr., No. 10-1820 (8th Cir. Filed July 19, 2011).
The committee tasked with drafting a new uniform law that regulates charities and charitable assets has released the newest version of the proposed law, renamed the Protection of Charitable Assets Act, which is currently under consideration by the drafting committee.
Recent high-profile settlements stemming from alleged violations of the Foreign Corrupt Practices Act, 15 U.S.C. 78dd-1 et seq. (FCPA), together with the nearly twofold increase in enforcement actions brought in 2010, underscore the necessity for multinational corporations to implement detailed compliance guidelines to mitigate potential FCPA exposure.
Outside directors are rarely charged in corporate fraud actions brought by the Securities and Exchange Commission (SEC, or the Commission).