Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):
Of Telephones and Corruption in Latin America: How a Bribery Case Involving a Florida Company Contributed to the Fall of the Government in Honduras (Gregory Paw)
Pepper Hamilton | December 4, 2009
In the pre-dawn hours of a Saturday in late June 2009, military troops bearing automatic weapons and arrest warrants rousted Honduran President Manuel Zelaya from his bed. Hours later, the troops escorted Zelaya, still clad in his pajamas, from the country. The head of congress and man next in line for the presidency, Robert Micheletti, settled into the tile-roofed presidential palace in downtown Tegucigalpa. As this dispute simmered over the summer, some called the events a coup, resulting from Zelaya’s push for a referendum on his ability to seek re-election. Others branded the events an illegal seizure of power from a democratically elected president. But few realized the role in these dramatic events of a powerful U.S. anti-corruption law that has drastically changed the nature of international business.
The FBI Agent Inside the Galleon Case (ABC News)
ABC News | December 4, 2009
B.J. Kang may be the most feared man on Wall Street.
When Bernie Madoff, who engineered history’s biggest Ponzi scheme, was arrested, FBI Special Agent Kang was right at his side. And less than a year later, there was Kang again, in a “perp walk,” shuffling alongside a handcuffed Raj Rajaratnam, the former hedge fund star at Galleon accused of earning millions off illegally obtained stock tips.
The question on the minds of investors, managers and lawyers inside and outside the hedge fund industry today is, who’s next?
Delaware Court of Chancery Dispels Myths and Addresses “Local Counsel” Definition (Delaware Corp. and Comm. Litig. Blog)
Delaware Corp. and Comm. Litig. Blog | December 2, 2009
A Dec. 2 letter decision of the Delaware Court of Chancery must be read by any Delaware lawyer serving as “local counsel”, and more importantly, should be required reading for any non-Delaware lawyer (or any out of state attorney) who requests a Delaware lawyer to be his or her “local counsel”.
Voluntary Disclosures and the Role of FCPA Counsel (FCPA Professor)
FCPA Professor | December 2, 2009
Why did Dyncorp voluntarily disclose to DOJ/SEC conduct that is arguably not even a violation of the FCPA? More broadly, what do such voluntary disclosures of potential FCPA issues say about the potential conflict of interests FCPA counsel has in advising companies as to the important disclosure issue?
Big Securities Law Doings in D.C.: Supreme Court, Congress Gear Up (The D & O Diary)
The D&O Diary | December 2, 2009
Courts in the financial center of New York and the tech hotspot of California tend to be where much of the headline grabbing securities law action usually takes place. But this week, the most significant action is in the Washington, D.C., as the Supreme Court and Congress are weighing into several of the hottest topic under the U.S. securities laws.
