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One errant voicemail triggers legal maelstrom
Four years ago, Matthew Gloss, the general counsel of Marvell Semiconductor Inc., and two of his colleagues phoned the legal chief of a rival company, Jasmine Networks Inc. The call went straight to voicemail, so Gloss left a message and hung up. At least, he thought he did.Litigation disclosure rule faulted
In-house corporate lawyers and corporate attorneys at firms are worried that a far-reaching accounting-standard proposal to expand companies' disclosure about lawsuits and other loss contingencies will threaten attorney-client privilege and expose sensitive litigation information to adversaries. The Financial Accounting Standards Board, which sets the standards for the U.S. accounting profession, released a draft proposal on June 5 that would significantly alter how companies disclose loss contingencies on financial statements, including litigation against the company.Trending Stories
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