News
[03/09]
Samsung, Panasonic start selling 3-D TVs
[03/09]
Britain's trade deficit widens
[03/09]
China passenger car sales up 55 percent in Feb
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Articles
Starting a Business: Fifty Things You'll Need to Do
You have just come up with a great idea, and you want to start a business. A word of caution is necessary: The Small Business Administration reports that about half of all small businesses fail within five years. Where should you begin planning?
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How do various forms of business operate?
There are several types of business entities available to entrepreneurs and business owners. Each form has legal and tax benefits and consequences. To learn about the business entities available in your state and which would best serve your goals, consult an experienced business attorney. The following is basic information on how various business entities operate:
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Case Summaries
[03/09]
In re: Omnicom Group, Inc. Secs. Litig.
In a securities class action alleging that defendants fraudulently accounted for a transaction, summary judgment for defendants is affirmed where: 1) plaintiffs failed to prove loss causation because their expert's testimony did not suffice to draw the requisite causal connection between the information in the article at issue and the fraud alleged in the complaint; and 2) the generalized investor reaction of concern causing a temporary share price decline was far too tenuously connected -- indeed, by a metaphoric thread -- to the transaction to support liability.
[03/03]
Teachers' Ret. Sys. of La. v. PriceWaterhouseCoopers LLP
In a shareholder derivative action brought on behalf of AIG for breach of fiduciary duty against PricewaterhouseCoopers under New York law, the Delaware Supreme Court certifies the following question to the New York Court of Appeals: Would the doctrine of in pari delicto bar a derivative claim under New York law where a corporation sues its outside auditor for professional malpractice or negligence based on the auditor's failure to detect fraud committed by the corporation; and, the outside auditor did not knowingly participate in the corporation's fraud, but instead, failed to satisfy professional standards in its audits of the corporation's financial statements?
[02/26]
D&J Tire Inc. v. Hercules Tire & Rubber Co.
In an action by a minority shareholder for breach of fiduciary duty arising out of defendant-executive's failure to disclose that defendant corporation was in talks to be acquired when the executive served as a mandatary on plaintiff's behalf to redeem his shares, summary judgment for defendant is vacated where: 1) because Louisiana's prescription statute did not bar plaintiff's rescission claim, the district court needs to determine whether plaintiff could prove that defendant's directors failed to disclose a material fact; 2) because defendant's directors were acting in their official capacity when redeeming plaintiff's stock, Connecticut courts would impose a fiduciary duty to disclose material facts in this situation; and 3) there was no reason, under Louisiana law, to apply another prescriptive period merely because defendant was also CFO of the corporation when the claim was based on his duties as mandatary.
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