Corporate Accountability Report Index-Summary

BACKDATING OF STOCK OPTIONS

BAD FAITH

– Mergers and acquisitions contracts, drafting issues (Del. Ch.), 95

BANKING

– Anchor Bank, loss causation in fraud case against employee (W.D. Wis.), 307
– Attorney-client privilege waiver, Charles Schwab Wells submissions to SEC (N.D. Cal.), 272
– Bank of America

– – “Dollar roll” transactions not material, letter to SEC, 764
– – ERISA “stock drop” claims dismissed (S.D.N.Y.), 950
– – Merger with Merrill Lynch

– – – Director re-election, CalPERS opposes, 436
– – – Expert testimony relying on media reports, admissibility (S.D.N.Y.), 9; new SEC suit alleges proxy violations, 39; N.Y. AG charges bank and former executives with disclosure violations, 142; SEC settles proxy disclosure charges (S.D.N.Y.), 143; judge asks N.Y. AG for witness transcripts, 168; settlement approved, 193; correction, 224; proposed settlement rejection, SEC enforcement developments, BNA Insights, 355; IG Kotz investigating $33M settlement rejected by court, 569; former CEO Lewis denies allegations (N.Y. Super. Ct.), 921
– – – Fraud suit for N.Y. pension losses (S.D.N.Y.), 794; claims proceed, 950
– – – Preemption issues in N.Y. suit, BNA Insights, 687
– – – Standing in “double derivative” action (Del.), 949

– – Mortgage modifications reducing investor payments, support lacking (N.Y. Sup. Ct.), 1172
– – Municipal bonds derivatives manipulation settles, 1318
– – Treatment by SEC affected by TARP status, IG recommendations, 1301

– BankAtlantic, misleading statements about portfolio risk, transcripts discovery (S.D. Fla.), 992
– Bankruptcy

See BANKRUPTCY

– Citigroup

– – Collateralized debt obligations misrepresentation (S.D.N.Y.), 1256
– – Subprime mortgage misrepresentation claims, company and executives settle (D.D.C.), 823; judge seeks more information, 883; SEC says firm negligent, not willful, 987; error was unintentional, Citigroup urges acceptance, 1024; court approves settlement, 1143
– – Terra Firma misrepresentation claim in merger (S.D.N.Y.), 1061

– Class action filings, “stock drop,” Lehman Brothers, directors not fiduciaries (S.D.N.Y.), 176
– Community Natl. Bank Corp., exhaustion of administrative remedies required for ERISA claim (M.D. Fla.), 1117
– Countrywide Fin.

– – Derivative claims, no value after Bank of America merger settlement (Del.), 573
– – Loan exceptions, former CEO disputes (C.D. Cal.), 948; case heads to trial, 1023; case settles, 1143
– – Mortgage underwriting standards, class settlement (C.D. Cal.), 498; preliminary approval granted, 829

– EU market abuse violations, sanctions coming, 1172
– Executive compensation

– – Bonuses

– – – Delay for highly paid employees (SEC No-Action Letter), 244
– – – EU enacts rules, 709

– – FDIC premiums and risk taking proposal, 34
– – Long-term performance measures not included, CII study, 1278
– – Risks

– – – Consideration increases after Feinberg, 1168
– – – Guidance, 651

– – Say-on-pay, financial institution adoption, institutional investors letter, 121
– – Wall Street law, regulators work, Frank (D-Mass) may change, 1057

– Fiduciary Trust, VP SOX whistleblower claims dismissed (2d Cir.), 1144
– Financial crisis causes, hearing, 64
– First Natl. Bank of Keystone, auditor liability, damages reduced by attorney malpractice award (S.D.W. Va.), 280
– Goldman Sachs

– – Basis Yield Alpha Fund says claim meets Morrison (S.D.N.Y.), 955
– – Class action alleges false statements in Abacus deals (S.D.N.Y.), 432
– – Criminal investigation of Abacus, House urges AG to open, 431; Goldman to cooperate with information requests, 460
– – Derivative litigation

– – – Estoppel in misleading stock option value claims (E.D.N.Y.), 1116
– – – Fiduciary breach alleged in Abacus deals (N.Y. Sup. Ct.), 432; court consolidates with other case, 923
– – – Insider trading alleged after Wells notice (S.D.N.Y.), 461
– – – Proxy disclosure misstatement, presuit demand futility not shown (U.S., rev den), 523

– – FCIC subpoenas records, 596
– – SEC charges, timing not political, says Schapiro, 403; charges for disclosure failures in Abacus fund (S.D.N.Y.), 404; earlier Wells notice not disclosed, 433; answer deadline extended, 656; charges show agency more aggressive, 660; court approves settlement, 767; IG Kotz will investigate settlement motivation, 794; SEC grants permanent exemption to ICA provision, 921; VP seeks dismissal based on Morrison ruling, 1090; IG reports no link to Dodd-Frank bill timing, 1112; SEC brief says case not inconsistent with Morrison ruling, 1142; SEC to replead due to Morrison ruling, 1197; bank agrees to fine for failure to disclose Wells Notices, 1229
– – Stock option backdating, no artful pleading, remand to state (E.D.N.Y.), 885

– JP Morgan Chase executives, SEC jurisdiction over swap agreements (N.D. Ala.), 174
– Litigation exposure increase under reform law, 787; board function hampered, 848; whistleblower program already in effect, 849; SEC proposed rules create complications, 1281
– Merrill Lynch

– – Enron aiding and abetting charges, former executive settles (S.D. Tex.), 524
– – Merger with Bank of America

See Bank of America, this heading

– Morgan Stanley

– – Customer bankruptcy charge-off delays, internal auditor whistleblower protection (DOL ARB), 153
– – Executive compensation derivative suit, futility not shown (N.Y. Sup. Ct.), 1349
– – SLUSA preclusion of state misrepresentation claims (2d Cir.), 717

– Natl. City Corp. merger with PNC Fin. Serv., settlement (Del.), 497
– Repurchase agreements, SEC seeks information about use by financial institutions, 334
– Standing by Adelphia to sue banks (S.D.N.Y.), 17
– State Street Bank misleading investors about subprime exposure risk, settlement (D. Mass.) (SEC), 149
– SunTrust ERISA stock drop, failure to diversify claim (N.D. Ga.), 1201
– Taxation, Financial Crisis Responsibility Fee, Obama proposes, 62
– Troubled Asset Relief Program

See TROUBLED ASSET RELIEF PROGRAM (TARP)

– Troubled debt restructuring disclosure, delay in footnote reporting, 1306
– UBS, Swiss shareholders refuse to shield directors over losses, 410
– Wachovia, ERISA fiduciary breach class action (W.D.N.C.), 857
– Washington Mutual

– – Reliance on false statements claim proceeds (W.D. Wash.), 1257
– – “Stock drop” settlement (W.D. Wash.), 926

BANKRUPTCY

– Bonuses, Tribune paying during bankruptcy (Bankr. D. Del.), 378
– Business strategy immunity application, BNA Insights, 893
– Bylaws provision, shareholder approval of “other business,” trigger (D.N.J.), 276
– Director and officer liability insurance, bankruptcy issues, BNA Insights, 503
– Lehman Brothers

– – Fraud suit, removal versus Securities Act anti-removal (3d Cir.), 551
– – Report, hearing, 266; directors role, 267; Dodd (D-Conn) asks AG for task force, 300; SEC seeks repurchase agreement use information from others, 334; lawmakers blame SEC and Fed for allowing Repo 105, 412

BONDS

– Bank of America, municipal bonds derivatives manipulation settles, 1318
– Regulator creation

See LEGISLATION, FEDERAL, HR 5823

BONUSES

See EXECUTIVE COMPENSATION

BOOKS AND RECORDS INSPECTIONS

– Arbitration requirement in contracts (Del Ch.), 574
– Del. corporation law cases, second quarter 2010, 699; third quarter, 975
– Minutes inspection in derivative suit limited (N.J. Super. Ct.), 951
– Presuit demand futility, using inspections to establish (Del. Ch.), 574
– Proper purpose lacking after derivative action filed (Del. Ch.), 653
– Retained directors after vote to remove, no wrongdoing inference (Del.), 881

BUILDING AND CONSTRUCTION

– Toll Bros. derivative insider trading suit can proceed (Del. Ch.), 305
– Zoltek Cos., outside consultant payment, CFO dishonest (E.D. Mo.), 925

BUSINESS COMBINATIONS

See MERGERS AND ACQUISITIONS

BUSINESS JUDGMENT RULE

– Derivative litigation

– – Application of rule to (2d Cir.), 11; Mass. rules on state law question (Mass.), 922
– – Executive compensation, Hewlett-Packard CEO severance after false expense accounts (Cal. Super. Ct.), 920; SEC investigating CEO departure, 1381
– – Recapitalization of preferred stock, common stock dilution (Cal. Super. Ct.), 275

– “Poison pill” plan, decision process (Del. Ch.), 241; oral argument set (Del.), 654; low trigger to protect net operating losses affirmed, 1086; BNA Insights, 1206