Corporate Accountability Report Index-Summary

CALIFORNIA

– Attorneys' fees in merger by Oakley Corp., shareholder suit for proxy changes (Cal. Ct. App.), 102
– CalPERS

– – Bank of America merger with Merrill Lynch, director re-election opposed, 436
– – Credit rating agency ratings, free speech protection (Cal. Super. Ct.), 1380
– – Fraud, placement agent, CEO charged (Cal. Super. Ct.), 493
– – Placement agent disclosures, 126

– Derivative litigation

– – Business judgment rule, recapitalization of preferred stock, common stock dilution (Cal. Super. Ct.), 275
– – Executive compensation, Hewlett-Packard CEO severance after false expense accounts (Cal. Super. Ct.), 920; SEC investigating CEO departure, 1381

– Mergers and acquisitions

– – Attorneys' fees in merger by Oakley Corp., shareholder suit for proxy changes (Cal. Ct. App.), 102
– – Failure to honor right of first refusal, fiduciary duty breach (Cal. Ct. App.), 69

– Washington Mutual, reliance on false statements, state claim proceeds (W.D. Wash.), 1257

CFTC

See COMMODITY FUTURES TRADING COMMISSION (CFTC)

CHARTS AND TABLES

– Del. corporation law cases, first quarter 2010, 316; second quarter, 699; third quarter, 975
– Financial restatements, recent SEC filings, Dec. 11-Jan. 1, 54; Jan. 4-15, 135; Jan. 15-29, 178; Jan. 29-Feb. 12, 232; Feb. 12-26, 256; Feb. 26-Mar. 12, 336; Mar. 26-Apr. 9, 422; Apr. 9-23, 482; Apr. 26-May 7, 533; May 7-21, 584; May 21-June 4, 634; June 7-18, 693; June 21-July 2, 753; July 2-16, 811; July 16-30, 900; July 30-Aug. 13, 968; Aug. 27-Sept. 10, 1045; Sept. 10-27, 1103; Sept. 27-Oct. 8, 1157; Oct. 11-22, 1211; Oct. 22-Nov. 5, 1271; Nov. 8-19, 1337
– Hill Watch, 390; 1004
– IRS Code §162(m) application, BNA Insights, 664

CLASS ACTIONS

– Aetna, misstatements to conceal underpricing to gain market share are forward-looking (3d Cir.), 922
– AIG

– – Market division scheme, Ohio AG settles class action (S.D.N.Y.), 765
– – Subprime risk, material misstatements (S.D.N.Y.), 1089

– Am. Express statements protected as forward-looking under PSLRA (2d Cir.), 547
– Attorney-client privilege waiver

– – Producing privileged documents to federal investigators (S.D.N.Y.), 272
– – Wells submissions to SEC (N.D. Cal.), 272

– Attorneys' fees

– – Continuing directors debt instrument provisions disabled (Del. Ch.), 1292
– – Enron challenge to award rebuffed (5th Cir.), 1297

– BankAtlantic, misleading statements about portfolio risk, transcripts discovery (S.D. Fla.), 992
– BP Deepwater Horizon oil spill

– – ERISA “stock drop” claim (N.D. Ill.), 681
– – N.Y. Comptroller to file case, 679

– Certification

– – Fraud-created-the-market theory against BDO Seidman (3d Cir.), 891
– – Fraud-on-the-market can be used (7th Cir.), 953
– – Recapitalization resulting in dilution, disclosure (Del. Ch.), 988

– Citigroup collateralized debt obligations misrepresentation (S.D.N.Y.), 1256
– Countrywide Fin., mortgage underwriting standards, settlement (C.D. Cal.), 498; preliminary approval granted, 829
– Disclosure of USPS metrics by Authentidate Holding (2d Cir.), 306
– Discovery of DOJ antitrust data, price-fixing by Micron Tech. (D.D.C.), 150
– Earnings misrepresentations by GE, pleading deficiencies (D. Conn.), 797
– ERISA, Lehman Bros. class action, Fidelity failure to sue auditors (D. Mass.), 1024
– Filings

– – Dodd-Frank law may increase, 817
– – Financial crisis fraud claims drop, 9
– – Securities, decrease, 271
– – 2009 decrease, 345
– – 2010 increase, 1371

– Foreclosure document execution, director and officer insurance claims (M.D. Fla.), 1317
– Goldman Sachs

See BANKING

– IAC/InteractiveCorp., disclosure omissions (S.D.N.Y.), 332
– Jones Soda, misleading expansion statements, dismissed (9th Cir.), 956
– Jurisdiction

– – Credit Suisse misrepresentation claims, Morrison applies (S.D.N.Y.), 853
– – French American Depository Receipts claims (S.D.N.Y.), 1115

– Lead plaintiff notice detailed enough without state law claims (D. Conn.), 1228
– Loss causation

See PLEADING REQUIREMENTS

– Madoff, SEC negligence in oversight (S.D.N.Y.), 1297
– Matrixx Initiatives, rare Zicam adverse reaction disclosure, fraud claim (U.S., rev grant), 623; statistically insignificant adverse events as basis for claim, amicus briefs, 954; NASAA, AARP support investors in amicus briefs, 1256
– Mergers and acquisitions

– – Cashout, no damages because no purchase (D. Colo.), 923
– – Cox Radio disclosure settlement (Del. Ch.), 550
– – Disclosure by Cadbury board urging refusal of Kraft purchase offer, jurisdiction (D.N.J.), 126
– – Failed merger, disclosure duty lacking, no scienter (2d Cir.), 954
– – Jurisdiction, Alcon Inc. class claims against Novartis (S.D.N.Y.), 575; amended complaint denied, 770
– – Negotiations, duty to disclose (N.D. Ill.), 20; materiality of factors, 96

– Mills Corp. settles financial fraud claim (E.D. Va.), 46
– Mortgage modifications reducing investor payments, support lacking (N.Y. Sup. Ct.), 1172
– Omitted claim, amending (9th Cir.), 148
– Panera Bread, misrepresentations and PSLRA (E.D. Mo.), 307
– Revenue recognition, withheld funds included as revenue, settlement (M.D. Fla.), 856
– Schering-Plough settles (D.N.J.), 42
– Scienter

See SCIENTER

– Securities Litigation Uniform Standards Act (SLUSA)

– – “Foreign-cubed” case, impact on SLUSA questioned, 1376
– – Preclusion of state misrepresentation claims against Morgan Stanley (2d Cir.), 717
– – Preemption of N.Y. Madoff fraud claims (S.D.N.Y.), 308
– – Retirement plan revenue sharing by Nationwide Ins., bar (6th Cir.), 151

– Securities settlements, 2009 increase, 300
– Settlement, state court release bars federal claim (3d Cir.), 884
– “Stock drop”

– – Amgen Inc., off-label drug uses (C.D. Cal.), 250
– – KB Home, final settlement approval (C.D. Cal.), 993
– – Lehman Brothers, directors not fiduciaries (S.D.N.Y.), 176
– – Marsh & McLennan settles (S.D.N.Y.), 175
– – Riskier business model not covered (D. Md.), 925
– – Schering-Plough, presumption of prudence overcome (D.N.J.), 715; court approves settlement, 1382
– – Wachovia claim fails (W.D.N.C.), 857

– Stock option backdating

– – Attorneys' fees, objections deadline must be after motion filed (9th Cir.), 924
– – Broadcom settles (C.D. Cal.), 21

– Veritas Software class settlement, attorneys' fees approved (3d Cir.), 1115
– Wal-Mart, issues in certification (9th Cir.), BNA Insights, 631
– Whistleblowers, derivative settlement, SEC objects to CEO SOX indemnity provision (2d Cir.), 325

CLIMATE CHANGE

– Risk disclosure

– – SEC guidance, 89; Bachus (R-Ala) questions decision, 118; Action Memo, 184; effect of guidance, 218; development of regulations, materiality, BNA Insights, 225; effect of guidance, panel, 464
– – Sustainability and energy use issues, Action Memo, 428

– Shareholder resolutions

– – Number, 244
– – Support sets record, 734

COLLATERAL ESTOPPEL

– Guilty plea in criminal fraud case, effect on civil case (6th Cir.), 441
– Whistleblower, estoppel tolls statute of limitations (DOL ARB), 411

COMMODITY FUTURES TRADING COMMISSION (CFTC)

– Funding

– – Budget and responsibilities would increase under reform legislation, 571; Senate panel approves spending increase, 793
– – Continuing resolution, FY 2011, 1374

– Rulemaking oversight urged, 1373

COMPENSATION

See EXECUTIVE COMPENSATION

COMPUTERS

– Apple, omitted claim, amending in class action (9th Cir.), 148
– Dell settles failure to disclose exclusivity payments (D.D.C.), 796; two former accounting officials settle, 957; settlement approved, 1150
– Hewlett-Packard, CEO severance after false expense accounts (Cal. Super. Ct.), 920; SEC investigating CEO departure, 1381
– Internet

See INTERNET

– Micron Tech. price-fixing, DOJ antitrust data discovery (D.D.C.), 150
– Network Assoc., prosecutors failed to prove revenue recognition case (9th Cir.), 1378
– SafeNet, attorney-client privilege waiver, producing privileged documents to federal investigators (S.D.N.Y.), 272
– Software firms

See SOFTWARE FIRMS

CONFERENCES AND MEETINGS

– Advisen and ACE Ltd. litigation trends webcast, 1140
– ALI-ABA

– – Accountant's liability conference, 742; 744
– – Executive compensation conference, 648
– – Investment company compliance panel, 595
– – SEC conference, 1171
– – Wall Street reform law event, 1169

– Am. Bar Ass'n

– – Annual meeting, 846; 847; 848; 851; 879
– – Business Law Section meeting, 438; 1165; 1282; 1285; 1286
– – FCPA panel, 1346
– – Joint Committee on Employee Benefits

– – – Meeting, 1221
– – – Teleconference, 1077

– – Natl. Conf. on Prof'l Responsibility, 592
– – Natl. Inst. on Internal Corp. Investigations and Forum for In-House Counsel, 517
– – Natl. Inst. on the FCPA panel, 1194
– – N.Y. meeting, 408
– – Regulator panel and corporate compliance conference, 490; 491

– Am. Inst. of Certified Public Accountants

– – Annual conference, 1312; 1313; 1321; 1322; 1323; 1323; 1324; 1325; 1325; 1327; 1327; 1348
– – Audit committee conference, 649
– – Audit committee risk conference, 819; 820
– – Intl. Bus., Accounting, Auditing and Tax Conf., 663
– – Natl. Conf. on Banks and Savings Inst., 996; 996
– – Natl. Conf. on Current SEC and PCAOB Development, 23; 24; 26
– – PCAOB and Intl. Inspections panel, 682

– Baruch College Ninth Annual Fin. Rep. Conf., 471; 472; 473; 474
– BNA

– – Financial reform webinar, 735
– – Proxy access webinar, 1052
– – Wall Street Reform and Consumer Protection Act webcast set, 771; held, 816

– Center for Audit Quality webcast, 985
– CFA Inst. 2010 conference, 520; 525
– Committee of Sponsoring Organizations fraud prevention webcast, 567
– Compliance Week enforcement conference, 541; 544; 552; 566
– Conference Board SEC climate change webcast, 464
– Council of Institutional Investors

– – Fall meeting, 1079
– – SEC update conference, 374; 376

– D.C. Bar Ass'n

– – Impact of Dodd-Frank on SEC Enforcement panel, 1016
– – Labor and Employment Law Section meeting, 1225
– – SEC

– – – Conference, 197
– – – Investor protection mission panel, 344

– – Securities class action trends panel, 271
– – Short selling panel, 494
– – Whistleblower panel, 1281

– Directors Roundtable Inst. financial and SEC fraud enforcement panel, 789
– Economic Club of New York, 940
– Economic Policy Inst. and Center for the Study of Poverty and Inequality executive compensation forum, 463
– Equilar executive compensation disclosure webcast, 1110
– Ernst & Young tax webcast, 1096
– Fin. Executives Intl. financial reporting conference, 1260; 1261; 1262; 1262
– Foley & Lardner LLP

– – Audit committee web conference, 72
– – Corporate governance webcast, 88
– – Director recruitment and selection web conference, 457
– – Proxy access webcast, 979
– – Proxy communication web conference, 212

– Foley & Lardner LLP and Natl. Dir. Inst. director issues web conference, 1248
– Fordham Univ. law school SEC panel, 1055
– Foreign Policy Ass'n and Royal Inst. of Intl. Affairs accounting standards conference, 443
– Fulbright & Jaworski LLP

– – Electronic discovery web conference, 122
– – Financial reform webcast, 982
– – Litigation trends webcast, 1191

– George Washington Univ. School of Bus. accounting standards talk, 386
– Georgetown Univ.

– – Law Center corporate counsel conference, 269
– – McDonough School of Business and PricewaterhouseCoopers whistleblower panel, 1165

– Gibson, Dunn & Crutcher LLP, SEC cooperation initiative web forum, 269
– Inst. Investor Educ. Found. whistleblower seminar, 1345
– Inst. of Internal Auditors general audit management roundtable, 705
– Inst. of Intl. Bankers conference, 220
– Intl. Ass'n of Privacy Prof'ls conference, 406
– Investor Responsibility Research Center Inst. executive compensation webcast, 616
– Mayer Brown LLP whistleblower teleconference, 849
– Mercer Human Resource Consulting executive compensation webcast, 36
– Morrison & Foerster

– – Directors Roundtable seminar, 300
– – Proxy season seminar, 60
– – Whistleblower panel, 1279

– Natl. Ass'n of Corp. Directors

– – Proxy access webcast, 939
– – Wall Street reform law conference, 1139

– Natl. Conf. of the Soc'y of Corporate Sec'ys and Governance Prof'ls., 734
– NERA Economic Consulting economic analysis panel, 1051
– N.Y. Soc'y of Sec. Analysts IFRS conference, 1204
– NYSE Euronext and Orrick, Herrington & Sutcliffe LLP class action panel, 821
– Northwestern Univ. Sch. of Law Ray Garrett Jr. Corp. and Sec. Law Inst., 465
– Pace Univ. Lubin Sch. of Bus. international accounting issues conference, 444
– Penn State Law School mergers and acquisitions conference, 1108; 1108
– Practising Law Institute

– – Climate Change Disclosure for SEC Reporting audio webcast, 218
– – Compensation committee conference, 676
– – Corporate governance conference, 165; 167
– – Disclosure webcast, 564
– – Enforcement

– – – Conference, 708
– – – Panel, 1080
– – – Seminar, 1221; 1224

– – Executive compensation and corporate governance conference, 1109; 1109
– – Executive compensation disclosure program, 1344
– – Loss contingency conference, 443
– – Mergers and acquisitions conference, 1136
– – Proxy access panel, 1013
– – Proxy disclosure webcast, 118
– – SEC legal developments panel, 324; 325
– – SEC Speaks conference, 145; 146; 156; 164
– – Securities conference, 1248; 1250; 1251; 1254
– – Securities enforcement conference, 567; 570; 571; 572
– – 2010 Inv. Mgmt. Inst. conference, 376
– – Whistleblower protections panel, 935

– PricewaterhouseCoopers proxy disclosure amendments webinar, 188
– Public Citizen executive compensation event, 791
– SEC

– – Forum on Small Business Capital Formation, 526
– – Government-Business Forum on Small Business Capital Formation, 1283
– – Historical Soc'y audio conference, 407

– Sec. Industry and Fin. Markets Ass'n

– – Financial conference, 761
– – Regulation conference, 1224
– – Securities conference, 1254

– Securities Docket and Cornerstone Research fraud webcast, 1376
– Securities Docket and KPMG, FCPA panel, 375
– Securities Docket, enforcement panel webcast, 660
– Soc'y of Am. Bus. Editors and Writers conference, 302
– Towers Watson and Baker & McKenzie, Wall Street Reform and Consumer Protection Act webcast, 816
– Transatlantic Corp. Governance Dialogue, 1193
– Tulane Corp. Law Inst., 439
– U.S. Chamber of Commerce

– – FCPA panel, 1193
– – SEC panel, 1170
– – Wall Street Reform conference, 784; 785

CONGRESS, U.S.

– Ed. Note: For coverage of legislation by bill number, see LEGISLATION, FEDERAL. For information on measures not yet assigned bill numbers, see specific subject headings.
– House Financial Services Comm. chair, Bachus (R-Ala) supported, 1223; lawmakers look at derivatives, other issues, 1285

CONNECTICUT

– Executive compensation, tax on bonuses from TARP companies passes Conn. House, 462
– Fiduciary duty, disclosure of possible merger to minority shareholder in redemption (5th Cir.), 248

CONSTRUCTION

See BUILDING AND CONSTRUCTION

CONTRACTS

– Arbitration clause binding on limited-English speaker (U.S., rev den), 1350
– Fiduciary duty

– – Convertible promissory note is security subject to preferred stock contract (Del. Ch.), 625
– – Modification, explicit LLC agreement wording required (Del. Ch.), 409

– Insurance, FASB rules do not need change, 1386
– Mergers and acquisitions

– – Drafting issues and bad faith (Del. Ch.), 95
– – Fiduciary duty, stock redemption just prior to sale of division (Del.), 373

CORPORATE GOVERNANCE

– Annual meetings, shareholder engagement, CII recommendations, 1053
– Attorneys' fees, advancement to CEO, bylaws and counterclaims (Del. Ch.), 191
– Board seats, reduction in number, bylaws amendment (Del. Ch.), 195; amendment void (Del.), 430
– Bundling unpopular charter amendments with popular measures for shareholder vote, 214
– Bylaws provision, shareholder approval of “other business,” bankruptcy trigger (D.N.J.), 276
– Cancellation of stock issued for unsecured promissory note (Del. Ch.), 548
– CEO position, more filled by directors, 1167
– Communication with shareholders

– – Executive compensation and risk, Action Memo, 212
– – Institutional investors, voting versus investment information, Action Memo, 488
– – OBO/NOBO system, CII paper, 192

– Compliance officers direct board access, sentencing guidelines proposal, 119
– Compliance program critical for TARP firms, 789
– Data collection policies and practices important, 406
– Deceptive conduct and shareholder rights, survey, 66
– Del. corporation law cases, first quarter 2010, 316; second quarter 2010, 699
– Disaster planning, audit committee role, 649
– Disclosure, Wall Street reform law provisions, BNA Insights, 1036; executive compensation assessment plan should be developed, Action Memo, 1131
– Distressed transactions to increase, 294
– EU green paper, 594
– Expert testimony, handwriting and corporate governance, accounting fraud (E.D.N.Y.), 127
– Government contractors, False Claims Act investigation proactiveness, Action Memo, 342
– Growth-related challenges, survey, 219
– Internal investigations

– – Board role, BNA Insights, 1265
– – Effective plans, importance, Action Memo, 1216
– – Procedural best practices, 517

– Internal reporting, interaction with whistleblowers, Action Memo, 1245
– Invalid stock split, written consent acts to elect directors (Del. Ch.), 1291
– MBCA, proxy access and reimbursement amendments, ABA section report, 88; amendments adopted and proposed, 1012
– Mergers and acquisitions, bylaw amendment changing annual meeting date of target company allowed (Del. Ch.), 1135; reversed (Del.), 1289
– Policy revisions due to reform bill, Action Memo, 732
– Political activity

See LEGISLATION, FEDERAL, HR 4749

– Political contribution disclosure

– – New rules possible, 116; correction, 155; legislative response to Citizens United possible, 265; bills, see LEGISLATION, FEDERAL, HR 4790, HR 5823
– – N.Y. legislation introduced, 407

– Principles, NYSE panel report, 1055
– Proxy access

See PROXIES

– Redemption not allowed by Thoughtworks preferred shareholders (Del. Ch.), 1293
– Reform of shareholder rights, legislation, 264; risk-retention, SEC funding may delay support, 301; committee hearing, 402; business groups oppose corporate governance measures, 403; further action, see LEGISLATION, FEDERAL, S 3217
– Regulation compliance, reputation, biggest issues, 618
– Sentencing Guidelines amendments, compliance and ethics officers reporting directly to board, 459; impact of changes, BNA Insights, 722
– Shareholders of record, trusts under N.J. Bus. Corp. Act (3d Cir.), 223
– Social responsibility initiatives, risk should be considered, IIA guidance, 310
– Sponsor-backed going private transactions, opposition, survey, 617
– Succession planning for emergencies, 144
– Survey on practices, 6
– Systemic risk reform, independence of oversight board, 5

CREDIT DEFAULT SWAPS

– SEC enforcement policy, 2009 developments, BNA Insights, 355
– YRC Worldwide, bond sale probe request by Teamsters, 10

CREDIT RATING AGENCIES

– eXtensible Business Reporting Language tags available, NRSROs must use, 947
– Fitch, Standard & Poors have no Wells notice, 545
– Free speech protection for ratings (Cal. Super. Ct.), 1380
– Jurisdiction in “stock drop” case, Moody's practices (S.D.N.Y.), 223
– Moody's Corp.

– – European conduct, no SEC action, Dodd-Frank may change, 947
– – Wells notice disclosed, 492

– Oversight by SEC increasing, 439
– Registration, legislation, 264; risk-retention, SEC funding may delay support, 301; committee hearing, 402; business groups oppose corporate governance measures, 403; further action, see LEGISLATION, FEDERAL, S 3217
– SEC

– – NRSRO registration and examinations program needs improvement, GAO report, 1058
– – Study, comments sought, 1374

– Wall Street reform law

– – Disclosure impacts, 941
– – Overview, BNA Insights, 963

CRIMINAL ENFORCEMENT

– Aiding and abetting

See AIDING AND ABETTING

– Attorneys' fees advancement, injunction vacated in criminal defense of fraud (10th Cir.), 991
– Broadcom Corp. stock option backdating, former CEO convicted (N.D. Cal.), 333
– Compliance officers direct board access, sentencing guidelines proposal, 119
– Discovery guidelines issued by DOJ, 33
– Double jeopardy

See DOUBLE JEOPARDY

– Evidence, Fifth Amendment unavailability, using earlier testimony (E.D.N.Y.), 652
– Financial crimes

– – Legislation

See LEGISLATION, FEDERAL, HR 3995

– – Trends, BNA Insights, 605

– FOIA, handwritten notes disclosure (D.D.C.), 854
– Foreign Corrupt Practices Act

See INTERNATIONAL DEVELOPMENTS

– Fraud

See FRAUD

– Goldman Sachs, House urges AG to open Abacus investigation, 431; Goldman to cooperate with information requests, 460
– Guilty pleas

See GUILTY PLEAS

– Insider trading

See INSIDER TRADING

– Jurisdiction, RICO application to extraterritorial conduct (2d Cir.), 1088
– Jury instruction, Friedman's former CEO, no error (2d Cir.), 576
– Parallel proceedings, stay of SEC case no longer automatic, 490
– Ponzi scheme charges against accountant (S.D.N.Y.), 800
– PurchasePro.com, former CEO sentence upheld (4th Cir.), 740
– Resentencing of Rite Aid executive after Booker (3d Cir.), 249
– Revenue recognition schemes

– – Bristol-Myers Squibb, former executives defer prosecution (D.N.J.), 710
– – McKessonHBOC, former chairman sentenced (N.D. Cal.), 277; former executive sentenced, 468
– – Network Assoc., prosecutors failed to prove case (9th Cir.), 1378

– “Round trip” transactions, former Homestore CEO sentenced (C.D. Cal.), 442
– SEC cooperation, concerns, 197
– Self-reporting, DOJ treatment different, 1221
– Sentencing Guidelines, compliance and ethics program, amendment, 459; impact of changes, BNA Insights, 722
– Stock option backdating at Brocade Comm., former CEO sentenced (N.D. Cal.), 719
– Tax shelters

See TAX SHELTERS

– Whistleblower bounty program, people who fabricate to benefit face prosecution, 1251