Corporate Update

John C. Coffee Jr.

Trumping the Constitution

By John C. Coffee Jr. |

In his Corporate Securities column, John C. Coffee Jr. analyzes the application of the Emoluments Clause to President-elect Donald J. Trump. He focuses on the specific nature of Trump's conflicts and how they expose him to foreign governmental pressure that will be largely invisible. He writes: Whether or not the Clause applies, tolerating the exposure of the President to foreign pressure is inexcusable.

Philip Berkowitz

Employment Law Expectations of a Trump Administration

By Philip M. Berkowitz |

In his Employment Issues column, Philip M. Berkowitz writes: The election of Donald Trump as President can reasonably be expected to upend the current established order of things in the world of employment law. In fact, President-elect Trump's election campaign, in large measure, was founded on arguments and issues that are uniquely the province of labor and employment lawyers: immigration law, health care, and discrimination law.

Steven M. Witzel and Michael A. Kleinman

Cybersecurity and the Incoming Trump Administration

By Steven M. Witzel and Michael A. Kleinman |

In a Corporate Crime column, Steven M. Witzel and Michael A. Kleinman of Fried, Frank, Harris, Shriver & Jacobson address how a Trump Administration might approach cybersecurity issues, particularly criminal prosecutions and regulatory oversight.

Terence E. Smolev and Christina Jonathan

Criminal Considerations for Fiduciaries

By By Terence E. Smolev and Christina Jonathan |

Terence E. Smolev and Christina Jonathan of Berkman Henoch Peterson Peddy & Fenchel write: Fiduciaries—both individual and corporate—run the risk of being charged with numerous crimes. Some crimes are intentionally committed, while some arise unintentionally but nevertheless create criminal liability. This article provides insight into some of the criminal charges fiduciaries may face.

Verizon Deal With Yahoo Highlights Emerging M&A Trend

By Jennifer Williams-Alvarez |

It remains to be seen whether Yahoo Inc.'s recently revealed data breaches will nix its sale to Verizon Communications. But whatever happens, M&A lawyers say the Yahoo-Verizon deal illustrates the increasing importance of addressing the risk of a data breach when negotiating an acquisition.

Corinne Ball

Filing Under Seal: The Confidential Commercial Information Exception

By Corinne Ball |

In her Distress Mergers and Acquisitions column, Corinne Ball writes: Parties concerned with protecting sensitive information should be ready to provide concrete, factual arguments in favor of filing documents under seal. Recent New York decisions, and the 'In re Motors Liquidation Company' decision in particular, provide guidance to practitioners as to possible effective strategies for protecting such sensitive information.

Elliot Pisem and David E. Kahen

Recent Decision's Implications for Goodwill Under IRC §1060

By David E. Kahen and Elliot Pisem |

In their Taxation column, David E. Kahen and Elliot Pisem write: Seemingly mundane questions concerning the proper allocation of consideration in determining the basis of purchased assets can have a surprisingly large impact. The authors discuss a recent decision of the Court of Federal Claims which illustrated precisely that point when tackling issues of goodwill under IRC §1060.

Joseph M. McLaughlin and Yafit Cohn

Demand Requirement Under Exchange Act §14(a)

By Joseph M. McLaughlin and Yafit Cohn |

In their Corporate Litigation column, Joseph M. McLaughlin and Yafit Cohn, of Simpson Thacher & Bartlett, examine 'In re The Home Depot, Inc. Shareholder Derivative Litigation', which weighed in on a recurring question regarding the demand requirement on which courts have differed: whether pre-suit demand is required for claims alleging a violation of Section 14(a) of the Securities Exchange Act of 1934. 'Home Depot' is the latest in a series of shareholder derivative actions arising from high-profile data breaches to be dismissed in recent years, with the court holding that Delaware's demand requirement applies equally to Section 14(a) claims.

Barbara M. Goodstein

Forest Capital: Is It a Case of UCC Article 8 Versus Article 9?

By Barbara M. Goodstein |

In her Secured Transactions column, Barbara M. Goodstein discusses the recent 'Forest Capital v. Blackrock' case, which brought to the fore the tension between UCC Articles 8 and 9—articles that have not always meshed seamlessly when it comes to the duties of securities intermediaries.

Jason Forge, Robbins Geller Rudman & Dowd partner

Trump U. Plaintiffs Reaped 'Unprecedented' Return, Lawyer Says

One day after President-elect Donald Trump agreed to pay $25 million to settle lawsuits over Trump University, he posted on Twitter that the payment was a "small fraction of the potential award." But Jason Forge, one of three plaintiffs attorneys at San Diego's Robbins Geller Rudman & Dowd who was involved in the settlement talks, said the amount each class member can expect to receive is unprecedented.

Laurie Webb Daniel of Holland & Knight.

Lawyers Appeal to U.S. Supreme Court to Reverse $2.7M Fee Sanction

Two Atlanta lawyers have asked the U.S. Supreme Court to overturn a $2.7 million attorney fee sanction against Goodyear Tire & Rubber Co. awarded by the Ninth Circuit, saying the punishment is excessive and violates established rules for making such awards.

John C. Coffee Jr.

Clawbacks in the Era of Trump

By John C. Coffee Jr. |

In his Corporate Securities column, John C. Coffee Jr. of Columbia University Law School examines executive compensation and clawback provisions, writing: The case for broad clawbacks comes into clearer focus when one looks closely at a series of recent corporate scandals, which each raise the same jaw-dropping question: What were those guys thinking?

Abbott Laboratories global headquarters in Abbott Park, Illinois

Abbott-Alere Suits Frame Battle Over Merger Gone Sour

The Delaware Court of Chancery appears positioned to once again decide whether to keep afloat a once-promising multibillion-dollar merger that has since struck the rocks in a pair of dueling breach of contract lawsuits.

Mary Jo White.

SEC's White: No SEC Fiduciary Rule Coming Before January

In her final House Financial Services panel testimony, White said that the agency is still ‘significantly’ underfunded.

U.S. Supreme Court

FAA Tells Justices to Pass on Flight-Sharing Startup's Case

The U.S. Supreme Court should decline to take up a pioneering flight-sharing startup's battle with federal regulators, the Obama administration told the justices on Monday.

Headquarters of the U.S. Securities and Exchange Commission in Washington D.C.

New SEC 'Risk Alert' on Confidentiality Agreements

By Philip M. Berkowitz |

Employment Issues columnist Philip M. Berkowitz discusses a risk alert released by the SEC Office of Compliance Inspections and Examinations on Oct. 24 warning that the agency "is reviewing a variety of documents," including compliance manuals, codes of ethics, employment agreements, and severance agreements, for language that is contrary to SEC regulations on disclosure of information in pursuit of whistleblower claims. This includes policies that would prohibit disclosures of confidential information and require employees to notify or obtain consent from the employer prior to disclosing confidential information. The commission, he writes, is going after companies that have internal policies, practices or agreements that contain offending language.

U.S. Supreme Court in Washington, D.C. October 9, 2016.

Justices Are Divided on City's Standing to Bring Housing Suits

At issue in the consolidated cases 'Bank of America v. Miami' and 'Wells Fargo v. Miami' is a threshold question of standing, which does not often make headlines but is a crucial factor in gaining access to the courts for plaintiffs seeking redress from corporations. Rec

Can In-House Counsel Be Trusted With High-Stakes Litigation? Macy's Thinks So

Brian Parsons has handled some big litigation assignments since joining the law department of Macy's Inc. in 2010, including appellate oral arguments and a deposition of a class representative in a nationwide class action. It's the kind of work often done by seasoned law firm partners, Parsons acknowledges.

Device Maker Gains Defense Verdict in Hip Implant Case

After several high-profile plaintiff's victories in hip implant cases, a Missouri jury has cleared a hip device manufacturer of allegations that its metal-on-metal device was defective.

William F. Johnson

Avoiding Pitfalls Protecting Privilege and Confidentiality

By William F. Johnson |

In his Corporate Crime column, William F. Johnson writes: To maintain maximum protection of legal privilege and confidentiality, corporations and their counsel would be well-advised to take a hard look at their disclosures to regulators and monitors, as recent court decisions have indicated that even compelled, narrowly-tailored disclosure could erode the expectations of privilege and confidentiality historically associated with such disclosures.

U.S. Federal Trade Commission Building.

Federal Guidance Warns Against 'No Poaching' and 'Wage Fixing' Pacts

The Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice have issued guidance signaling their interest in further cracking down on companies that make agreements with others that have the effect of limiting employees' mobility or keeping their wages down.

Federal Circuit Softens Stance on Patent Eligibility

By Scott Graham |

For the fourth time this year, the U.S. Court of Appeals for the Federal Circuit has rescued software patents that a district found ineligible for patenting.

Supreme Court Offers Little Pep to Cheerleader Uniform Designers

By Scott Graham |

Appellate courts have wrestled for more than 20 years over where to draw the line between a copyrightable design and a useful article's function. The Supreme Court did not appear to be having it any easier on Monday.

Corinne Ball

Decision Challenges Efficacy of Liability Management Strategies

By Corinne Ball |

In her Distress Mergers and Acquisitions column, Corinne Ball of Jones Day discusses the recent Second Circuit decision in 'Chesapeake Energy v. Bank of New York Mellon Trust', writing: 'Chesapeake' involved a dispute between bondholders and the issuing company regarding whether a "make whole" or pre-payment premium was required when the bond issue was refinanced. While the issue was discreet, the efficacy of a resort to the court for a speedy determination is now subject to question if there is an appeal pending—even one without a stay pending appeal.

Final Approval Near in $14.7 Billion VW Emissions Accord, Judge Says

A federal judge said he planned to grant final approval to a $14.7 billion settlement with Volkswagen over an emissions scandal involving its diesel-powered vehicles.

Michelle Banks.

Legal Departments Have Leg Up on Firms in Closing Gender Pay Gap

A $4 million settlement this year between a group of female in-house claims litigators and Farmers Group Insurance served to highlight that gender pay inequity—and court actions to challenge it—are increasingly found among the upper echelons of Corporate America.

AARP (American Association of Retired Persons) in Washington, D.C.

AARP Sues the EEOC to Enjoin Workplace Wellness Program Regulation

The AARP filed a lawsuit in federal court in Washington on Monday seeking to enjoin final rules for workplace wellness programs recently issued by the Equal Employment Opportunity Commission, claiming they allow employers to illegally access private health information of employees and use the data in a potentially discriminatory manner.

Elliot Pisem and David E. Kahen

Characterization of Forfeited Deposits and Break Fees

By Elliot Pisem and David E. Kahen |

Elliot Pisem and David E. Kahen of Roberts & Holland discuss surprising and unfavorable results recently stemming from Internal Revenue Code §1234A, which governs the character of gain or loss attributable to the cancellation, lapse, expiration, or other termination of a right or obligation with respect to "property which is (or on acquisition would be) a capital asset."

U.S. Equal Employment Opportunity Commission building in Washington, D.C.

EEOC Takes on Emerging Issues in New Strategic Enforcement Plan

The Equal Employment Opportunity Commission unveiled its latest strategic plan Monday, which will prioritize three new pieces of the agency's enforcement agenda: tackling nontraditional employment, protecting Muslims and Sikhs and ensuring the fairness of data-driven employment screening tools.

Harry Shearer

'Spinal Tap' Actor Sues to Recoup Profits Owed From Movie

By Amanda Bronstadt |

Harry Shearer has filed a $125 million lawsuit against Vivendi S.A. over profits from the 1984 cult film "This Is Spinal Tap," in which he starred as fictional rock band member Derek Smalls.

Consumer Financial Protection Bureau building in Washington, D.C.

CFPB Predicts DC Circuit Ruling Won't Survive Challenge

A lawsuit in North Dakota federal district court could provide an early test of the reach of a federal appeals court decision that confronted what the judges called the “massive, unchecked power” of the Consumer Financial Protection Bureau.

Joseph M. McLaughlin and Yafit Cohn

SOX Certification Requirement and Clawback Provision

By Joseph M. McLaughlin and Yafit Cohn |

Corporate Litigation columnists Joseph M. McLaughlin and Yafit Cohn provide insight from the case 'SEC v. Jensen', where the U.S. Court of Appeals for the Ninth Circuit provided needed guidance on the scope of distinct requirements under the Sarbanes-Oxley Act—the certification requirement and the clawback provision.

Facebook Takes Shot at IRS in Transfer-Pricing Feud

By Ross Todd |

Facebook Inc. is challenging the federal government's claim that it underpaid taxes, possibly by more than a $3 billion, due to the way it valued assets transferred to its Irish subsidiary in 2010.

U.S. Securities and Exchange Commission building in Washington, D.C.

No Violation 'Too Small' as SEC Sets Enforcement Record

The U.S. Securities and Exchange Commission saw a record number of enforcement actions this past fiscal year, a sign the commission is looking beyond headline-grabbing cases involving hundreds of millions of dollars, according to one attorney.

U.S. Department of Justice

Feds Accuse Aetna, Humana of Trying to 'Derail' Antitrust Challenge

U.S. Justice Department lawyers, repudiating the misconduct allegations that Aetna Inc. and Humana Inc. raised in the government's blockbuster antitrust suit, accused attorneys for the health insurers of a "transparent" push to unravel the case before it's ever presented to a judge.

Barbara M. Goodstein

When Can't a Creditor Credit Bid?

By Barbara M. Goodstein |

In her Secured Transactions column, Barbara M. Goodstein, through a discussion of a recent decision in the 'Aéropostale' case in the Southern District of New York, highlights issues and risks that arise when non-traditional lenders find themselves entangled with the debtor in more ways than just debt financing.

Illinois Joins California in Suspending Business with Wells Fargo

The Illinois treasurer's office suspended billions of dollars in trading activity with Wells Fargo & Co. on Monday, becoming the second state to cut off business with the bank after its $185 million settlement over charges it created as many as 2 million unauthorized accounts.

Justices Hunt for Intent in Bank Fraud Law

The harrowing robbery of Kim Kardashian in Paris, Jesse James’ historical bank heists and even notorious bank robber Willie Sutton played into U.S. Supreme Court arguments on Tuesday as the justices wrestled with the level of intent needed to prove federal bank fraud.

A logo sign outside of a facility occupied by Aetna Inc. in Blue Bell, Pennsylvania.

Aetna Accuses Feds of 'Serious Delay and Misconduct' in Antitrust Case

By C. Ryan Barber |

In a request for sanctions filed in Washington federal district court, Aetna and Humana lawyers alleged the government withheld about 1 million documents. And they argued the government's alleged obstruction has "gravely undermined" the ability of the health insurers to mount a defense against claims from antitrust enforcers that Aetna's acquisition of Humana would drive up the price of insurance.

Daniel A. Fliman and Isaac S. Sasson

Introduction to Ad Hoc Committees in Distressed Situations

By Daniel A. Fliman and Isaac S. Sasson |

Daniel A. Fliman and Isaac S. Sasson provide an introduction to ad hoc committees, including insights into their benefits and operations, and an overview of certain legal considerations unique to such committees.

Justice William Blair, judge in charge of the Commercial Court, discusses the introduction of the new Financial List in the High Court of England and Wales at the offices of Brown Rudnick on Sept. 22.

British Judge Discusses New London Business Court During NY Visit

By Phil Albinus |

As business disputes grow in size and complexity, would a specialized court with judges who are experts in the matters, and who could speed up rulings and appeals, be a good idea in the United States? That was among the topics at a discussion given last week by The Hon. Mr. Justice Blair at the Times Square offices of Brown Rudnick.

Google self-driving car

Self-Driving Vehicle Guidelines Welcomed by Regulators, Operators and Manufacturers

By Ben Seal and Cheryl Miller |

State regulators, industry attorneys and vehicle manufacturers greeted the Federal Automated Vehicles Policy, published by the National Highway Traffic Safety Administration and U.S. Department of Transportation on Tuesday, as a positive step toward providing clarity and preventing an undesirable patchwork of local laws.

David A. Katz and Laura A. McIntosh

The Board's Role in FCPA Compliance

By David A. Katz and Laura A. McIntosh |

In their Corporate Governance column, David A. Katz and Laura A. McIntosh write: Overseeing FCPA compliance is no easy task. As a legal matter, boards are required to create and follow procedures designed to ensure compliance with applicable laws. Directors succeed in this task by fostering a culture of high ethical standards, by prioritizing compliance oversight, and often by personally investing time and effort in the company outside the boardroom.

U.S. Department of Justice

Judge Rejects DOJ Change in Music Licensing Decree

In a win for Broadcast Music Inc. and the American Society of Composers, Authors and Publishers, a federal judge has shot down a recent determination from the U.S. Department of Justice that these performance rights organizations can't engage in so-called fractional licensing, which is crucial to their business model.

John C. Coffee Jr.

Securities Litigation Goes Global

By John C. Coffee Jr. |

In his Corporate Securities column, John C. Coffee Jr. of Columbia Law School discusses the spread of "entrepreneurial litigation" to Europe, where major securities class actions have recently settled, and he writes that the most striking fact about those actions is the key organizational role in structuring them played by traditional American plaintiff law firms.

Samsung Sued By Man Who Says Exploding Phone Battery Caused Third-Degree Burns

A new lawsuit against Samsung Electronics Co. alleges that the South Korean device maker had problems with exploding smartphone batteries even before the recent recall of its Galaxy Note 7, leaving at least one man with third-degree burns.

Apple Fans Sue Over iPhone Upgrade Delays

Loyal followers of Apple Inc. were excited last year when the company started a program that let them pay a little extra with the promise of getting the latest device each year. But now lawyers for a disgruntled subset of those consumers have sued Apple, saying they’ve been told to wait.

'Made-for-Litigation' Science Scuttles Two Talc Trials Under NJ Judge's Ruling

By Amanda Bronstad |

A New Jersey trial court judge has struck two upcoming trials over talcum powder’s link to ovarian cancer after concluding that two plaintiffs’ experts had “made-for-litigation” scientific methods.

U.S. Securities and Exchange Commission.

Head of SEC Whistleblower Office Joins Plaintiffs Firm

Whistleblower plaintiffs firm Phillips & Cohen announced Tuesday that Sean McKessy, the former chief of the U.S. Securities and Exchange Commission's Whistleblower Office, is joining the firm as a partner in Washington, D.C.

Applying Del. Standard, NY Judge Tosses Challenge to $80M Shipping Merger

By Jason Grant |

Applying a Delaware use of the business judgment rule, a Manhattan judge has dismissed a shareholder class action that alleged corporate breach of fiduciary duties connected to the 2015 merger of dry bulk shipping companies Baltic Trading Ltd. and Genco Shipping & Trading Ltd.

Steven M. Witzel

Electronically Stored Information and the Fourth Amendment

By Steven M. Witzel |

In his Corporate Crime column, Steven M. Witzel writes: In dealing with issues involving electronically stored information, Congress, courts and commentators are struggling to find the proper balance between preserving Fourth Amendment rights and providing effective tools for government investigations.

Survey Finds In-house Spending Priorities Depend on Gender

A new survey coming out of the U.K. shows that legal spend and priorities within the department differ based on whether a male or female is in charge.

Trader Joe's

Trader Joe's Wins Lanham Act Appeal Against Canadian Copycat

By Scott Graham |

The Lanham Act can stretch across the U.S. border to reach a Canadian man selling Trader Joe's merchandise at a store he calls Pirate Joe's in Vancouver, British Columbia, the Ninth Circuit has ruled.

Ex-Monsanto Official Receives $22.5M Whistleblower Award

A former Monsanto Co. executive received a $22.5 million whistleblower award Tuesday for alerting U.S. securities regulators to improper accounting that inflated the agrichemical company's reported sales of Roundup, according to the lawyer who represented the tipster.

Corinne Ball

Emerging Markets Investing: When Domicile, Choice of Law Are Vulnerable

By Corinne Ball |

In her Distress Mergers and Acquisitions, Corinne Ball of Jones Day discusses a recent decision that established precedent for an emerging debtor that seeks insolvency relief locally to impose the local insolvency framework upon its financing affiliate, despite reliance upon a different jurisdiction for domicile and choice of law to enable such affiliate to raise capital from U.S.-based investors.

Pfizer World Headquarters in New York City.

Four Firms Advise Pfizer's $14B Buy of Cancer Drug Maker Mediavation

Four months after new rules adopted by the U.S. Department of the Treasury foiled Pfizer Inc.'s plans to acquire Allergan plc in a $160 billion tax inversion deal, the New York-based pharmaceutical giant has moved on to pick up a cancer drug maker with four Am Law 100 firms in tow.

U.S. Securities and Exchange Commission building in Washington, D.C.

Litigation Funding Company's Suit Calls SEC Process Unconstitutional

A litigation funder facing a fraud investigation has asked a federal judge to rule that the U.S. Securities and Exchange Commission's administrative enforcement proceedings against unregulated parties are unconstitutional.

Lawmakers Question Large Price Boost for Drug Auto-Injector

By Ben Seal |

A growing chorus of lawmakers is demanding answers as to why prices have risen five-fold for a lifesaving drug for people at risk of severe allergic reactions.

Elliot Pisem and David E. Kahen

The Ever-Expanding 'Danielson' Rule?

By David E. Kahen and Elliot Pisem |

In their Taxation column, David E. Kahen and Elliot Pisem of Roberts & Holland discuss a recent Eleventh Circuit decision involving a surprising application of the 'Danielson' rule.

Company That Tried to Avoid Whistleblower Awards Settles With SEC

U.S. securities regulators on Tuesday punished another company for using severance agreements to restrict departing employees from pursuing whistleblower rewards, a fresh warning to employers, following a similar action last week, not to interfere with the path of would-be tipsters.

All Simon Dawson,..Steve Cohen, stops and talks to the media in the congress centre

Billionaire Investor Steven Cohen Blocked From Managing Commodities Hedge Funds

Federal regulators have barred the billionaire investor Steven Cohen from managing commodity hedge funds until 2018, in a settlement that comes on the heels of a similar agreement with the SEC.

Kim Dotcom sits in the Auckland District Court during an extradition hearing in Auckland, New Zealand on Sept. 21, 2015.

D.C. Circuit Upholds Seizure of Megaupload's Mega-Assets Overseas

A federal appeals court panel on Friday upheld the federal government's seizure of more than $75 million in overseas assets from the founders of Megaupload Ltd., a now-defunct file-sharing site accused of massive copyright infringement.

Joseph M. McLaughlin and Yafit Cohn

Advancement of Legal Expenses

By Joseph M. McLaughlin and Yafit Cohn |

In their Corporate Litigation column, Joseph M. McLaughlin and Yafit Cohn write: Where the right to advancement of legal fees is provided in both corporate bylaws and an indemnification agreement, and the scope of the advancement rights provided therein differs, the question arises whether the two agreements should be read together or separately. A recent Delaware Court of Chancery opinion provides guidance.

Judge Approves $2M in 'Exceptional Case' Fees for Jaguar

A Delaware federal judge has signed off on automaker Jaguar Land Rover North America's request for more than $2 million in "exceptional case" attorney fees and expenses over a patent infringement case that was deemed "objectively baseless."

SolarCity Defeats Shareholder Suit for Third Time

By Ben Hancock |

A federal judge Tuesday dismissed a shareholder fraud case against renewable energy company SolarCity Corp., which is on the cusp of a merger with Tesla Motors, after lawyers at Pomerantz failed for a third time to make claims stick.

LinkedIn Takes Aim at Fake Profiles Designed to Scrape Data

By Ross Todd |

LinkedIn is seeking to unmask the creators of phony profiles who have been scraping the professional social networking site for data about its 400 million users.

Barbara M. Goodstein

Introducing MIPSA, the ABA Model IP Security Agreement

By Barbara M. Goodstein |

In her Secured Transactions column, Barbara M. Goodstein discusses the Model Intellectual Property Security Agreement and writes: While the MIPSA is definitely a step in the right direction, there remains an overriding need for reform through federal legislation to resolve the uncertain boundaries between IP law and Article 9.

Delaware Judge Transfers OmniVere Fraud Case to New York

OmniVere Holding Co. has won its bid to move a fraud suit by e-discovery competitors from Delaware federal court to New York's Southern District, where the parties are already locked in a messy and convoluted legal battle.

Seventh Circuit Rejects Sexual Orientation Bias Claims

"The writing on the wall is not enough," Judge Ilana Rovner wrote of claims of discrimination based on sexual orientation under Title VII of the Civil Rights Act of 1964. "Until the writing comes in the form of a Supreme Court opinion or new legislation, we must adhere to the writing of our prior precedent."

Volkswagen Moves to Throw Out Suit by U.S. Investors

By Amanda Bronstad |

Volkswagen A.G. and four of its senior executives have moved to dismiss claims brought by U.S. investors over the damage its emissions scandal has had on share values, arguing in their brief that the case "exceeds the territorial reach" of U.S. securities laws.

David A. Katz and Laura A. McIntosh

Director Tenure Remains a Focus of Investors and Activists

By David A. Katz and Laura A. McIntosh |

David A. Katz and Laura A. McIntosh discuss director tenure, or "board refreshment," and write: The best way to achieve healthy board turnover is not term limits or retirement ages but a robust director evaluation process combined with an ongoing director succession process.

Derek Jeter.

Derek Jeter to Face Fraud Allegations

Former New York Yankees shortstop Derek Jeter will have to defend against allegations that he defrauded RevolutionWear Inc., which alleges he fraudulently induced the luxury underwear maker to bring him on board with a 15 percent ownership stake by hiding obligations under his promotional contract with Nike Inc.

U.S. Securities and Exchange Commission building in Washington.

Businesses Criticize Sustainability Disclosures to SEC

In a batch of letters to the SEC, businesses have pushed back against efforts to make them disclose their environmental impact and stances on public policy matters.

U.S. Judge Signs Off on $14B Settlement With Volkswagen

By Ben Hancock |

U.S. District Judge Charles Breyer of the Northern District of California expressed satisfaction with elements of the settlement that will allow owners of VW vehicles with 2.0 liter engines to have their cars fixed or bought back by the automaker, as well as component directed at ameliorating the environmental impact of the scandal.