Private equity funds investors sign a subscription agreement, promising to deliver cash when the fund makes a capital call. In a recent Delaware case, investors sought to revoke their subscription agreements and recover their capital contribution. They were investors in a Lehman Brothers sponsored investment fund. In 2007 the three plaintiffs became limited partners in … Read more »
Embarrassment from the American Bar Association
As the head of compliance, I frequently call on a team of lawyers for advice on how to interpret the law and move that interpretation into implementation. As a consumer of legal services, I have an interest in innovation and improvements in the delivery of those services. As an former practicing lawyer, I understand the … Read more »
Compliance Bits and Pieces for October 1
Here are some recent compliance-related stories that I found interesting: The face of the financial crisis by Larry Ribstein in the Creative Destroyer We need somebody we can send off to jail. Jail apparently provides the moral clarity necessary to wrap up a financial crisis. Bernie Madoff’s just an old-fashioned fraud from another era. The … Read more »
Materials from Social Media Policies
As a follow-up to my presentation on social media polices at the Virtual Corporate Counsel Forum, I’m publishing the slide deck and links to some of the items I discussed. Social Media Policies Download the Slidedeck: ALM social media policy FTC Action against Ann Taylor FTC Action Against Reverb SEC Guidance on the Use of … Read more »
Organized Labor and Social Media Policies
While preparing for my presentation today on social media policies, I came a cross this great article by Seth Borden: Labor Disputes Arising out of Social Media. Having organized labor in your workforce will complicate the creation and enforcement of a social media policy. Potential unionizing activities offer similar problems. Employers must consider traditional labor … Read more »
Virtual Corporate Counsel Forum: Social Media Policies
The folks at ALM are producing an online version of their Corporate Counsel’s annual General Counsel Conferences. I’m stepping in to fill a lat minute vacancy for one session: Social Media Policies: Crafting a Uniform Policy Across your Organization and Enforcing It. I’ll be joining Valerie L. Boccadoro, Director and Senior Intellectual Property Counsel at … Read more »
New York Stock Exchange and Corporate Governance
Last week, the NYSE Euronext released the final report of the NYSE–sponsored Commission on Corporate Governance. The report identified 10 core governance principles. They cover the scope of the board’s authority, management’s responsibility for governance and the relationship between shareholders’ trading activities, voting decisions and governance. The Commission on Corporate Governance was established in the … Read more »
Katy Perry and Compliance
Katy Perry just wanted to play dress-up. Elmo ran away. Just like Elmo, Sesame Street decided they wanted to get away from Ms. Perry. Her outfit showed too much cleavage. It’s not the first time Sesame Street has pulled a video. They pulled a video with Chris Brown when he was accused of domestic violence. … Read more »
100 Best Legal Blogs
The ABA Journal is compiling its annual list of 100 best legal blogs (They use “blawgs.” I hate that term.) They would like your advice on which legal blogs you think they should include. Use the Blawg 100 Amici form to tell the ABA Journal about a legal blog that you read regularly and think … Read more »
Compliance Bits and Pieces for September 24
Here are recent compliance related stories from the past week: In case you missed it: Its Official: Recession Ended June 2009 by Barry Ritholtz in The Big Picture The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in … Read more »