from ABA Journal Weekly
Posted by Debra Cassens Weiss
"A lawyer reportedly helping Goldman Sachs executives prepare for a Senate hearing today revealed his usual strategy for congressional hearings in an interview last year.
O’Melveny & Myers partner K. Lee Blalack II told the American Lawyer last March that a congressional hearing room is not a forum for divining the truth, according to The BLT: The Blog of Legal Times. The goal, he said, is minimal damage to reputation.
“Long, thoughtful pauses followed by rambling nonresponsive answers can easily devour half of a member’s allotted questioning time,” Blalack told the American Lawyer.
The New York Times says Blalack is helping the executives prepare along with Michael Bopp, a partner at Gibson, Dunn & Crutcher."
Showing posts with label securities fraud. Show all posts
Showing posts with label securities fraud. Show all posts
Friday, April 30, 2010
Sunday, August 16, 2009
Two Fired In-House Lawyers Allowed to Pursue SOX Retaliation Claim
Posted On ABA Latest Legal News on Posted Aug 14, 2009, 07:51 am CDT
By Debra Cassens Weiss
Two fired in-house lawyers who claim they were fired for raising questions about possible securities fraud at their employer may pursue their lawsuit as a result of a federal appeals court ruling.
The 9th U.S. Circuit Court of Appeals ruled that under the Sarbanes-Oxley law, the two lawyers do not have to prove actual fraud to sue, the Recorder reports. All that is necessary is a belief that they believed there was fraud.
The husband-and-wife lawyers, Shawn and Lena Van Asdale, worked at the slot machine company Anchor Gaming. They had raised questions about the validity of a patent held by Anchor before it acquired another gaming company. If the patent were worthless, the benefits of the merger would have been overvalued, according to their suit.
The panel opinion was written by conservative Judge Jay Bybee, making plaintiffs “all the giddier,” according to the story.
The Law Lady. For more information, click here, where you can request to be placed on our Recent Decisions of Interest mailings, or subscribe (see left column).
By Debra Cassens Weiss
Two fired in-house lawyers who claim they were fired for raising questions about possible securities fraud at their employer may pursue their lawsuit as a result of a federal appeals court ruling.
The 9th U.S. Circuit Court of Appeals ruled that under the Sarbanes-Oxley law, the two lawyers do not have to prove actual fraud to sue, the Recorder reports. All that is necessary is a belief that they believed there was fraud.
The husband-and-wife lawyers, Shawn and Lena Van Asdale, worked at the slot machine company Anchor Gaming. They had raised questions about the validity of a patent held by Anchor before it acquired another gaming company. If the patent were worthless, the benefits of the merger would have been overvalued, according to their suit.
The panel opinion was written by conservative Judge Jay Bybee, making plaintiffs “all the giddier,” according to the story.
The Law Lady. For more information, click here, where you can request to be placed on our Recent Decisions of Interest mailings, or subscribe (see left column).
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