Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):
- CROSS BORDER (July 24, 2009): Did CEO’s tweet violate quiet period?
Ruby Tuesday CEO Sandy Beall’s message on Twitter didn’t violate Reg FD. The question is whether his tweet broke SEC rules around public stock offerings. - LESTER BRICKMAN, FORBES.COM (July 23, 2009): No Recession For Tort Lawyers
Recently, evidence has surfaced that indicates how class action lawyers manage to run up the hundreds of thousands of hours of time that they record to justify their enormous fees. It is by the use of temporary or “contract” lawyers.” - THE D&O DIARY (July 23, 2009): Lawsuits May Be Down, But the Plaintiffs’ Lawyers Haven’t Gone Away
Let’s be honest — fish gotta swim, birds gotta fly, and plaintiffs’ lawyers make their living filing lawsuits. The very idea that the plaintiffs have run out of targets is flawed conclusion built on a faulty premise. - JOURNAL STAR EDITORIAL (July 22, 2009): Give SEC adequate funding
Think about it for a minute. Aside from keeping the terrorists from killing us, what other job does government do that is more important than assuring the integrity of the U.S. marketplace? - WRAGEBLOG (July 21, 2009): Due Diligence: the Principle Behind The Process
Pride International, Inc.’s GC describes aspects of their due diligence program for managing intermediaries, including certifications, training, contracts, invoices, and monitoring/auditing. - THE DEAL PROFESSOR (July 21, 2009): The Peril of Secret Conditions
Parties to an acquisition agreement sometimes want to condition their acquisition agreement on an item that they wish to keep confidential. This approach raises problems and perils, and it can clash with securities law disclosure requirements. - HARVARD LAW SCHOOL FORUM ON CORP. GOV (July 21, 2009): Cuban Decision Casts Doubt on SEC Position on Insider Trading
While the celebrity of the defendant has undoubtedly contributed to the widespread publicity of the dismissal, the real news is that the SEC has, for the moment at least, lost a case on what might seem to have been slam-dunk facts. - STACY-MARIE ISHMAEL AND JOANNA CHUNG, FT (July 20, 2009): Stanford case spreads its tendrils
The indictment of Sir Allen Stanford on charges ranging from wire fraud to bribery has provided an illuminating glimpse into how cross-border white-collar crimes are investigated and prosecuted. - PROFESSOR BAINBRIDGE (July 18, 2009): Mark Cuban Wins a Big Round Against SEC Insider Trading Rap
Outstanding. The use/confidentiality distinction is something my insider trading scholarship has long emphasized, but which all too often courts have ignored.
