News

Orrick's Financial Industry Week in Review - March 3, 2014

By EsqSocial Corporation 04/03/14

UCITS 5 Political Agreement Reached - On February 25, the European Parliament published a press release announcing that political agreement has been reached with the Council of the EU on the proposed UCITS V Directive....

Class Action Alleging Servicers Engaged In Loan Modification Fraud Dismissed With Prejudice

By EsqSocial Corporation 04/03/14

On February 20, the U.S. District Court for Central District of California dismissed with prejudice a putative class action against several large mortgage servicers because the named borrowers failed to properly plead their allegations that the...

Daughter's Facebook 'SUCK IT' Post Nixes Dad's $80K Settlement

By EsqSocial Corporation 04/03/14

A five-figure confidential settlement between a former headmaster and a Florida school was blown after the plaintiff's daughter told the school to "SUCK IT" on Facebook, a state appellate court has ruled.

Marijuana Taxation Update: State Sanctioned Marijuana Industry Must Keep the Federal Anti-Drug Trafficking Tax Code in Mind

By EsqSocial Corporation 04/03/14

As we have previously reported, despite the growing number of States that have authorized the use of marijuana in various forms, the federal government has continued to crack down on dispensaries. In addition to direct criminal prosecution for drug...

Joinder in Inter Partes Review Proceedings Takes Shape

By EsqSocial Corporation 04/03/14

To date, three distinct scenarios relating to joinder have been presented to the Board, each demonstrating inter partes review strategies being employed by Petitioners, as well as the Board’s willingness to join proceedings to ensure the just,...

The SEC’s Never-Before Examined Initiative: Are You Ready?

By EsqSocial Corporation 04/03/14

The SEC’s Never-Before Examined Initiative: Are You Ready? On January 9, 2014, the Securities and Exchange Commission’s (the “SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) published its 2014 National Exam Program (“NEP”)...

Federal judge rules for Chevron in civil-racketeer case, bans collection of $9B enviro award in US

By EsqSocial Corporation 04/03/14

In the latest blow to the plaintiffs and their lawyers in hard-fought litigation against Chevron Corp. over environmental damage in Ecuador, a federal district court judge in New York has issued a blistering ruling in an unusual civil racketeering case.

New SEC Regulations of Municipal Advisors and Underwriters Take Effect in July

By EsqSocial Corporation 04/03/14

Last fall, the federal Securities Exchange Commission (SEC) issued new rules (Rule) regulating municipal advisors and underwriters, now scheduled to become effective July 1, 2014. In 2010, President Obama signed into law the Dodd-Frank Wall Street...

Major Court of Appeals Decision Allows Construction of $5 Billion Transit Rail Project in Honolulu to Proceed

By EsqSocial Corporation 04/03/14

On the front page of Nossaman's website, we report on the result of decisions by the United States Court of Appeals for the 9th Circuit and the United States District Court for the District of Hawaii that allow the construction of a 20-mile, $5...

Federal District Court Deepens Divide Over SOX Whistleblower “Protected Activity”

By EsqSocial Corporation 04/03/14

On February 21, 2014, the District of Puerto Rico strayed from a prominent decision out of the First Circuit that employed the “definitively and specifically” standard governing protected activity under Section 806 of SOX, choosing instead to defer...

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