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February 1, 2013

Legal News in Brief

Corporate Spotlight

DOJ sues to block $20B merger of major beer-makers
The Justice Department filed an antitrust lawsuit to block Anheuser-Busch InBev from acquiring the remaining half of Mexican beer-maker Grupo Modelo for $20.1 billion. The U.S. government said the combination would illegally restrict competition. The lawsuit calls into question one of 2012's biggest merger deals and a related deal involving the world's biggest wine company, Constellation Brands. Reuters (1/31), Bloomberg (1/31), St. Louis Post-Dispatch (1/31)

SEC appoints temporary leadership in enforcement unit
George Canellos, currently deputy of the Securities and Exchange Commission's enforcement division, has been named acting head of the unit effective Feb. 8. The agency named David Bergers, head of its Boston office, as acting deputy director of enforcement. Reuters (1/31)

National News

Fed paper highlights investor dynamics
The Federal Reserve posted a research paper online that delves into how investor dynamics affect the corporate-bond market. Researchers say institutional investors tend to exhibit "herd-like" behavior more in the corporate-bond market than in stocks. "We find substantial institutional herding in U.S. corporate bonds, much higher than that previously documented in the equity markets," staff economists Fang Cai, Song Han and Dan Li wrote. Reuters (1/31)

Legislative Dispatch

Debt-limit bill clears Congress, heads to Obama
Legislation to suspend the U.S. debt limit for three months was sent to the White House for President Barack Obama's signature. The Senate voted 64-34 in favor of the bill passed by the House. The Obama administration had warned that without congressional action, the government would run out of money to pay its bills in early March. The Washington Post (1/31), The Hill/Floor Action blog (1/31), Business Insider (1/31)

Employment Focus

Kaplan gets favorable ruling in credit-screening case
The Equal Employment Opportunity Commission doesn't have enough evidence to proceed with a case accusing Kaplan Higher Education of discriminating against black job applicants by screening the credit histories of job seekers, a federal judge has ruled. The judge dismissed the case after granting Kaplan's motion to exclude one of the EEOC's expert witnesses. The New York Times (tiered subscription model) (1/29)

Supreme Court and Federal Court Watch

Wasendorf's sentence: 50 years, $215.5M in restitution
U.S. District Judge Linda Reade sentenced Russell Wasendorf Sr., founder and former CEO of Peregrine Financial Group, to 50 years in prison for stealing hundreds of millions of dollars from clients. The sentence is the maximum allowed by law. Wasendorf was also ordered to pay $215.5 million in restitution. Reuters (1/31), The Des Moines Register (Iowa) (tiered subscription model)/Finance & Insurance blog (1/31), Financial Times (tiered subscription model) (1/31)

Other Legal News

Groups are divided on proposal regarding patent owners
Business and intellectual-property groups are divided on whether to support a proposal from the U.S. Patent and Trademark Office that would require the true owner of a patent to be disclosed. The American Antitrust Institute noted that more complete ownership information could "help operating companies, both incumbents and potential new entrants, manage their legal risk and reduce their search costs." Other groups have expressed concerns about the additional cost and time that compliance might require. The National Law Journal (free registration) (1/30)

Professional and Business Development

How to pick the right productivity tools
Technology can make you more productive, but it can also get in the way if you choose tools that are complicated or that don't really address your particular productivity problems, experts say. Any system should be flexible, easy to use and serve as your "road map" to help you "prioritize and re-prioritize on the fly," says Julie Morgenstern, author of "Time Management from the Inside Out." The Wall Street Journal (1/29)

PLI News

Free Friday Looks for Patent Trolls Under the Bridge
At the free on-demand Web segment Preparing for Patent Warfare, Trolls and Other IP Issues, taken from Corporate Counsel Institute 2012, learn about preparing to bring and defend big cases, including choice of forum issues, defending against non-practicing entities, recent developments in patent law and more.

Affordable Care Act: Compliance Program Considerations for Health Care Providers
Enforcement activities at both the state and federal level are on the rise, making compliance programs and plans for the health care industry a must. Under the ACA, mandatory plans will be required for certain providers by March 23, 2013. This Feb. 4 One-Hour Audio Briefing will walk through the required and suggested elements of an effected compliance program, as well as hot areas of compliance.

Lawyer Life

Tasmania's rugged landscape draws adventurers
Travelers looking for more strenuous adventures may find a welcome challenge in the rugged wilderness of Tasmania, this feature says. The hard hiking and mountain-climbing are rewarded by stunning views of the island's untouched landscape. The New York Times (tiered subscription model) (1/25)

Chefs get creative when diners want salads in winter
Some restaurants say they've seen more salad orders in recent weeks, which is making it a challenge for chefs to find fresh produce in colder climates. Hartford, Conn., chef Billy Grant says he uses fruits and creative toppings to make up for a shortage of fresh veggies in the winter, and he offers warm vegetable dishes, such as beets and red kale, that still fit into the salad category. Chicago Tribune (tiered subscription model) (1/31)

SmartQuote

Never confuse a single defeat with a final defeat."

--F. Scott Fitzgerald,
American writer

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