Corporate & Securities Law

PCAOB Proposes Rule Change Regarding Ethics & Independence Rule
The SEC has published for comment a proposed rule change (Release No. 34-58121; File No. PCAOB-2008-03) by the PCAOB Regarding Ethics and Independence Rule 3526, Communication with Audit Committees Concerning Independence, Amendment to Interim Independence Standards, and Amendment to Rule...

PCAOB Withstands Constitutional Challenge
So ruled the DC Circuit in Free Enterprise Fund v. PCAOB (D.C. Cir. Aug. 22, 2008). By a 2-1 decision, the D.C. Circuit held that Title I of the Sarbanes-Oxley Act, which created the Public Company Accounting Oversight Board (PCAOB),...

The PCAOB (and Sarbanes-Oxley) Lives!
The PCAOB (and Sarbanes-Oxley) Lives! Despite indications that the holding would be the opposite, the DC Circuit Court of Appeals delivered an opinion in Free Enterprise v. PCAOB which upheld - by a 2-1 vote - the constitutionality of the...

PCAOB Approves Auditing Standard No. 6
PCAOB Approves Auditing Standard No. 6 Earlier this week, the PCAOB announced the adoption of Auditing Standard No. 6, Evaluating Consistency of Financial Statements. The Board also adopted related amendments to its interim auditing standards...

D.C. Circuit Holds that Creation of PCAOB was Constitutional
In Free Enterprise Fund v. PCAOB (D.C. Cir. Aug. 22, 2008), the D.C. Circuit, with one Judge dissenting, held that Title I of the Sarbanes-Oxley Act (which created the Public Company Accounting Oversight Board) was constitutional and did not violate...

PCAOB to KPMG: Time to Shape Up
Auditors have been lobbying Congress for the imposition of liability caps ever since the collapse of Arthur Anderson in 2002 but a recent Public Company Accounting Oversight Board ("PCAOB") report on KPMG confirms that auditors need accountability for the procedures...

Copyright Lawsuits: Critical Issues Before Filing Copyright
Federa Rule 11(b) Considerations

Settlement Proposed in Class Action Against Facebook
Facebook will Close Beacon in Proposed Settlement

Expedia Class Action Settlement Proposed for $123.4 Million
Expedia Settlement Proposed for $123.4 Million

$11,250,000 Settlement Proposed in Amkor Class Action
Amkor Reaches Proposed Settlement in Securities Class Action

Settlement Proposed in Fomoco ERISA Class Action
Fomoco ERISA Class Action Proposed Settlement Reached with Ford

FDA Issues Safety Warning About Valproic Acid and Divalproex Sodium
Valproic Acid and Divalproex Sodium FDA Issues Safety Warning About Risk for Birth Defects

FDA Issues Warning Regarding Topical Ibuprofen Drug Products
Topical Ibuprofen Drug Products FDA Issues Warning Letters