Corporate Accountability Report Index-Summary

PATENTS

– Whistleblower, attorney claims patents obtained through fraud, no specificity (2d Cir.), 1174

PAY

PCAOB

See PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

PENNSYLVANIA

– In pari delicto defense availability, PricewaterhouseCoopers (Pa.), 206; vacated (3d Cir.), 604; defense narrows, BNA Insights, 748

PENSIONS

– AIG market division scheme, Ohio AG settles class action (S.D.N.Y.), 765
– BP Deepwater Horizon oil spill, N.Y. Comptroller to file class action, 679
– CalPERS

– – Bank of America merger with Merrill Lynch, director re-election opposed, 436
– – Fraud, placement agent, CEO charged (Cal. Super. Ct.), 493
– – Placement agent disclosures, 126

– CalSTRS, proxy activism success, 943
– Merrill Lynch, N.Y. pension losses fraud suit (S.D.N.Y.), 794; claims proceed, 950
– Pay-to-play

– – N.Y. Common Retirement Fund

– – – AG settles claims, 154
– – – Martin Act charges filed against official (N.Y. Sup. Ct.), 821

– – SEC proposal would add to state and local laws, 302

– Revenue sharing by Nationwide Ins. class action, SLUSA bar (6th Cir.), 151

PHARMACEUTICALS

See HEALTH CARE

PLEADING REQUIREMENTS

– Earnings misrepresentations by GE not adequately pleaded (D. Conn.), 797
– False and misleading statements by Rigel Pharmaceuticals (N.D. Cal.), 49
– Intercompany agreement, must plead both unfair dealing and price (Del. Ch.), 712
– Loss causation

– – Anchor Bank, fraud case against employee (W.D. Wis.), 307
– – Class actions, fraud-on-the-market in certification stage (5th Cir.), 274; U.S. asked to file brief (U.S., rev sought), 1114
– – Deloitte & Touche role in Adelphia, dismissed (S.D.N.Y.), 990
– – Discovery, internal accounting documents to support (S.D. Tex.), 381
– – Express Scripts, supporting facts lacking in misrepresentation class action (E.D. Mo.), 737
– – Internet advertising, class accounting case (2d Cir.), 273
– – Omnicare, U.S. asked to file brief (U.S., rev sought), 1114; (rev den), 1230; amicus brief filed in investors' suit, 1320
– – Oracle Applications Suite 11i misrepresentations (9th Cir.), 1258
– – Revelation of misrepresentations did not cause stock price to fall (9th Cir.), 859

– Omitted claim, amending in Apple class action (9th Cir.), 148
– Scienter

See SCIENTER

– SulphCo market manipulation deficiency (S.D.N.Y.), 738

PREEMPTION

– Antitrust claims in short sale transactions (U.S., rev den), 523
– Bank of America merger with Merrill Lynch, N.Y. suit, BNA Insights, 687
– N.Y. Madoff fraud claims and SLUSA (S.D.N.Y.), 308

PRIVATE SECURITIES LITIGATION REFORM ACT (PSLRA)

– Attorneys' fees, prevailing parties not entitled (9th Cir.), 626
– Countrywide Fin., mortgage underwriting standards, class settlement (C.D. Cal.), 498; preliminary approval granted, 829
– Forward-looking statements

– – Aetna, misstatements to conceal underpricing to gain market share (3d Cir.), 922
– – Am. Express statement protected (2d Cir.), 547
– – Basis for fraud (N.D. Ind.), 46
– – Falsity, protection when known, BNA Insights, 998
– – Misleading cautionary language (2d Cir.), 103
– – Misrepresentations by Panera Bread (E.D. Mo.), 307
– – Revenue projections by Cutera protected (9th Cir.), 739
– – Stock option backdating, false statements, cautionary language (11th Cir.), 100

– Lead plaintiff notice detailed enough without state law claims (D. Conn.), 1228
– Stay, requirements to lift (W.D. Ohio), 19

PROCEDURE

– Discovery

See DISCOVERY

– Dissolved corporation, derivative or direct action, waived for appeal (7th Cir.), 883
– Estoppel in Goldman derivative misleading value claims (E.D.N.Y.), 1116
– Expedited proceedings request, fiduciary breach, tender offer (Del. Ch.), 380
– Injunctions

See INJUNCTIONS

– Jurisdiction

See JURISDICTION

– Pleading requirements

See PLEADING REQUIREMENTS

– Preemption

See PREEMPTION

– Release in state case bars federal claim with same plaintiff (3d Cir.), 884
– Res judicata

See RES JUDICATA

– Standing

See STANDING

– Statutes of limitations

See STATUTES OF LIMITATIONS

PROXIES

– Access, director nominations

See DIRECTOR ELECTIONS

– Active shareholders expected, 60
– Advisory firms, SEC regulation considered, 438
– Bank of America merger with Merrill Lynch, new SEC suit alleges proxy violations (S.D.N.Y.), 39; N.Y. AG charges bank and former executives with disclosure violations, 142; SEC settles disclosure charges, 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
– Broker-dealer proxy limits increase institutional influence, 1169
– Business strategy immunity application, BNA Insights, 893
– Client-directed voting, CII report, 945
– Communication with institutional investors, voting versus investment information, Action Memo, 488
– Derivative litigation, disclosure misstatement, presuit demand futility not shown (U.S., rev den), 523
– Disclosure rules, SEC procedure, GAO report, 39; compliance with rules, Analysis and Perspective, 76; director qualifications and diversity, 118; risk assessment and policies after rule, Action Memo, 162; advice on proxy and risk disclosures, 188; SEC issues technical corrections, 224; analysis, data management increase disclosure effectiveness, Action Memo, 238; e-proxies should increase investor participation, 297; status update, 374; proactive approach recommended, 457; too early to assess compliance, says SEC's Parratt, 544; policy review and benchmarking needed, Action Memo, 909
– Executive compensation

– – Disclosure, use for, 1110
– – Draft voting policies, ISS release, 1190

– France, proxy solicitation disclosure ordinance, 1375
– Omitted claim, amending in Apple class action (9th Cir.), 148
– Political spending disclosure, report, 709
– Registered investment companies voting trends, study, 1251
– SEC

– – Concept Release examines system, seeks comments, BNA Insights, 1028
– – Rule revisions, open meeting to consider, 708; overhaul consideration approved, 730; comments reviewed, 1250

– Solicitation to approve stock option plan, claim direct, late (9th Cir.), 170
– Stock ownership not proven, suit to exclude shareholder proposal (S.D. Tex.), 98; court allows exclusion, 243
– Tagging resolution, IAC, 186
– 2010 preview, RiskMetrics, 240

PSLRA

See PRIVATE SECURITIES LITIGATION REFORM ACT (PSLRA)

PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

– Annual reporting, guidance, 662
– Audit confirmations, proposal, 745
– Auditor communications with audit committees, proposed standard, 334; roundtable set, 961; comment period reopened, tone-at-the-top assessment is issue, 1026
– Broker-dealer audit reports, SEC guidance coming, 1056; rules proposed, 1353
– Budget, Obama proposal, 130; budget adopted for 2011, 1304
– Constitutionality of agency

– – Members removable at will by SEC (U.S.), 672
– – SEC plan if court ruling adverse, 603

– Engagement quality review, standard, 73; Q&As, 205
– Financial crisis audit issues, report coming, 744
– Foreign auditor risks, staff alert, 742
– Foreign inspections, information access denied in some countries, 156; list of firms released, 525; Chinese refusal is risk to U.S., 552; redactions, consent requests helpful, 682; registration of foreign applicants, inspection or SOX compliance required, 1118; negotiations ongoing, 1118
– Inspection reports

– – BDO Seidman, Grant Thornton, PricewaterhouseCoopers, 888
– – Crowe Horwath, 628
– – Deloitte & Touche LLP, 501
– – Ernst & Young, 744
– – Financial crisis impact on audit quality, report, 1062
– – KPMG LLP, 1146
– – McGladrey & Pullen, 685
– – Review, SEC rules amendments, 928

– Investment Advisory Group, first meeting set, 444; national fraud center and audit transparency discussed, 471
– Management subject to enforcement even if not involved in audit, 742
– Mortgages

– – Documentation issues likely to affect audits, 1321
– – Loss contingencies, staff alert, 1385

– Pass/fail reporting model effective, says SAG, 385
– Personnel, chairman, finalists considered, 1354
– Principal auditor, SAG considers quantitative test, 354
– Registration of foreign audit firms, guidance, 579
– Risk

– – Assessment and response during audit, comments to reproposed standards, 384
– – Material misstatements, standards, 828

– Rulemaking accelerated, 1322
– Significant unusual transactions, risk evaluation, staff audit practice alert, 353
– Small business auditing, forums, 255
– SOX amendments sought to make enforcement proceedings public, 828; would strengthen enforcement, 1321
– Special reporting, successor registration, guidance, 51
– Standing advisory group

– – Broker-dealer audit oversight, collaboration with SEC urged, 772
– – Convergence, members say FASB-IASB timeline unreasonable, 772; discussion paper on timelines coming, 1063
– – Meeting set, 335; 721; 1097
– – Members appointed, 1180
– – Nominations sought, 475