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New Ballgame For Claims of Idea Theft
Stephen Terrell isn't a copyright lawyer. But last month, he filed suit on behalf of four Californians who allege that Fox Broadcasting Co. stole their idea behind the hit reality television show, So You Think You Can Dance.Home Court Showdown at the Supreme Court
During the past 51 years, federal courts have used a hodgepodge of tests to determine a corporation's "principal place of business." The U.S. Supreme Court today, for the first time, will consider what is the correct test in a case involving Hertz employees who claim the company violated California's wage-and-hour laws. What the Supreme Court decides, in effect, will determine the battlefields on which class action and other litigation involving multistate corporations will be fought.
Associate Salary War Moves to Midwest
The associate salary war has spread from the coasts to the middle of the United States, with law firms boosting starting pay to stay competitive in a market where demand is mounting and the supply of top-notch first-years is waning. Though Midwest law firms aren't matching the $135,000-plus salaries of the big firms on the East and West coasts, some, such as Denver-based Holme Roberts & Owen, are raising salaries by 17 percent, to $105,000, to stay competitive with national firms with local outposts.
SEC's Grip on Hedge Funds Reviewed
At the request of Sen. Charles Grassley, R-Iowa, the Government Accountability Office last week agreed to examine whether the SEC had adequate procedures in place to oversee stock exchange regulators, including the NYSE and NASD, particularly as hedge funds become an increasingly large presence in the financial markets. Ostensibly, those exchanges are self-regulatory, but the SEC is charged with ensuring that the public markets are carrying out their obligations to root out insider trading and fraud.Glassman Urges SEC Action on Hedge Funds
Now that a federal appeals court has tossed out the Securities and Exchange Commission's attempt to regulate hedge fund managers through registration, outgoing SEC Commissioner Cynthia Glassman thinks it's time to try an alternative approach. Glassman wants the agency to adopt a basic "notice and filing" system that requires managers to disclose specific information, including their financial background and their assets, which could then be reviewed by potential investors.Trending Stories
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