Financial Fraudsters Beware: DoJ Names New Fraud Section Chief

The National Law Journal

Criminal enforcement chief reaches outside the ranks to hire a New York corporate defense lawyer to lead a section tasked with probing and prosecuting white-collar crime, a key role as the Obama administration ramps up efforts to fight financial fraud.

Massive Buy Back: Wells Fargo to Pay $1.4B in Auction-Rate Settlement

The Recorder

Wells Fargo will buy back about $700 million in troubled auction-rate securities from California investors under a settlement announced by the state's AG on Wednesday. In a separate deal, the bank will repurchase nonliquid auction-rate securities totaling some $700 million from non-California residents.

The Google-Books Settlement: A Lawsuit Ripe for ... Congress?

The Recorder

Google Inc. revised its controversial books settlement late Friday night and revived the debate over who should decide the fate of orphan works: Google or the government.

Total Disclosure: Fired Ex-Bank of America GC Tells His Story

Corporate Counsel

After months of silence on the bank's controversial merger with Merrill Lynch, former general counsel Tim Mayopoulos tells Congress what legal advice the bank received—and says he still has no idea why he was fired.

Dems, Republicans Trade Shots Over Bank of America, Merrill Deal

The Associated Press

Senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but Republicans charge that a committee inquiry was covering up the role of an Obama administration official.

Bank of America Execs Grilled on Firing of GC During Crucial Deal

Corporate Counsel

Three bank officials insist before a House panel that the firing of its general counsel in the middle of a giant merger was just ordinary corporate 'downsizing.' The panel's chairman, however, says 'it sounds like someone didn't like his legal advice.'

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From The Web

Goldman Holders Miffed at Bonuses

The Wall Street Journal

Cadbury's Carr Rehearsed Kraft Resistance by Thwarting Goldman in Pub Bid

Bloomberg

Car Czar Says GM IPO Could Happen in 2010

The Deal

Microsoft Lawyer Skids and Squeals Tesla for Xbox Sound Team

seattletimes.com

Justice Dept. Recovers $2.4B in False Claims Cases in '09; More Than $24B Since '86

justice.gov

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DOJ Plans Crackdown on Pharmaceutical Industry's Contact With Foreign Governments

The National Law Journal

Head of the Justice Department's Criminal Division warns that the agency is planning to focus more criminal enforcement on the industry's interaction with foreign officials 'in the months and years ahead.'

Top Lawyers, Scholars Say Supremes Have Made a 'Mess' of Pre-Emption

Legal Times

The Supreme Court handed a big pre-emption defeat to business when it ruled 6-3 in Wyeth v. Levine that state litigation over drug labeling is not pre-empted by federal law.

SEC Hits Merriman's Former Top Lawyer for Fraud on His Watch

The Recorder

K&L Gates partner Jeffrey Bornstein represented Merriman Cuhran Ford's former general counsel Christopher Aguilar, who was punished by the FCC for not detecting fraud at the investment bank.

Who's Got Home Court Advantage? Showdown at the Supreme Court

The National Law Journal

It's all about location, location, location: Auto rental giant Hertz is incorporated in Delaware, has its headquarters in New Jersey and does its biggest volume of business in California. So where is Hertz's 'principal place of business?'