Web Watch: Best Blog Posts and Columns For the Week Ending Dec. 4

Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):

The HLS CORP. GOV. BLOG (DEC. 5, 2008): New York Court Rejects Shareholder Challenge to JPMorgan Rescue of Bear Stearns
Wachtell lawyers write that the decision is a strong endorsement of the protections that the business judgment rule affords to directors faced with the challenges posed by the ongoing credit crisis.

THE D&O DIARY (Dec. 4, 2008): Dismissal Denied in New Century Subprime Lawsuit
Analyzing the C.D. Cal.’s denial of motions to dismiss in the New Century Financial Corporation subprime securities class action lawsuit.

THE 10B-5 DAILY (Dec. 4, 2008): Definite Maybe
The 9th Cir.’s Glazer Capital Management LP v. Magistri includes new law (sort of) on the issues of collective scienter, SOX certifications, and profit motive.

SEC ACTIONS (Dec. 4, 2008): The Second Circuit’s “Foreign-Cubed” Decision AppliedThe SDNY follows and applies the teachings of the Second Circuit’s first “foreign-cubed” decision, Morrison v. National Australia Bank, Ltd.

THE FCPA BLOG (Dec. 4, 2008): Hired Guns and the FCPA
Should the FCPA ban payments to local security forces for the protection of company people and property?

DOUGLAS R. JENSEN, LAW.COM (DEC. 2, 2008): Bringing ‘Foreign-Cubed’ Actions in American Courts
Can a securities fraud complaint brought by foreign plaintiffs against foreign issuers based on foreign stock purchases be heard by a U.S. federal court? Under the right circumstances, yes.

THE D&O DIARY (Dec. 1, 2008): Subprime Litigation Targets: Rating Agencies, Auditing Firms?
The subprime scapegoats include the usual suspects, but many aggrieved parties also seem particularly keen to lay blame on the rating agencies.

THE D&O DIARY (Dec. 1, 2008): Ninth Circuit Rejects Securities Case Based on FCPA DisclosuresDiscussion of a Ninth Circuit opinion noteworthy not only for the involvement of FCPA-related allegations, but also for the court’s consideration of “collective scienter” and Sarbanes-Oxley certification issues.

IDEOBLOG (Dec. 1, 2008): Is Fuld the Next Loser of the Corporate Crime Lottery?
Speculating that although it would be a mistake, today’s NY Magazine article brings Fuld’s prosecution closer.

SEC ACTIONS (Dec. 1, 2008): Pleading Scienter In The Ninth Circuit: The Collective Pleading Doctrine, SOX Certifications, and DOJ/SEC Settlement Documents
Discussing the Ninth Circuit’s three significant rulings under the PSLRA in Glazer Capital Management, LP v. Sergio Magistri