| Legal News in Brief |  |
| Corporate Spotlight |  |  |
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- European Commission finds Oracle-Sun merger problematic
The European Commission said aspects of the merger between Sun Microsystems and Oracle are anti-competitive. The commission cited database giant Oracle's acquisition of Sun's MySQL. Oracle defended its position, saying MySQL is an open-source database and thus available to all. The commission's statement is not a final ruling on the merger. EurActiv.com
(11/16)
    
| National News | | |
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| Legislative Dispatch | | |
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- Banks urge Rep. Frank to drop break-up legislation
The Financial Services Forum sent a letter to Rep. Barney Frank, chairman of the House Financial Services Committee, urging the lawmaker to abandon legislation that would give regulators the authority to break up large firms. The group, which represents CEOs of JPMorgan Chase, Goldman Sachs and other large financial firms, said the change "could lead to long-term damage to the U.S. economy." Reuters
(11/16)
- Volcker opposes proposal on accounting standards
Former Federal Reserve Chairman Paul Volcker, a White House economic adviser, said a proposal that would give banking supervisors power to sidestep accounting rules is "a terrible idea." Volcker, who has been a critic of mark-to-market accounting rules, said he is concerned that politics might be compromising the independence of accounting standards setters. Volcker's comments come as a House committee is poised to vote on the proposal. The New York Times
(11/16)
| Employment Focus | | |
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- OSHA must improve safety checks on employer records, GAO says
The Occupational Safety and Health Administration should improve its system for monitoring the accuracy of employer records on worker injuries and illnesses, especially in "high-hazard" industries, such as the transportation and chemical industries, a report from the Government Accountability Office said. The report found that OSHA inspectors don't always interview workers to verify that the data from employers are correct. Congressional Democrats ordered the GAO inquiry because they are skeptical of statistics on workplace injuries between 1992 and 2007. The Wall Street Journal/The Associated Press
(11/16)
| Supreme Court and Federal Court Watch | | |
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- Lehman sues Barclays to get back asset "windfall"
The estate of Lehman Brothers and a trustee for the bank's brokerage filed a lawsuit against Barclays in an attempt to claw back as much as $10 billion. The U.S. bank says the U.K. bank received billions of dollars in assets after the collapse of Lehman. "The sale transaction was secretly structured from the outset to give Barclays an immediate and enormous windfall profit," lawyers for Lehman said. Financial Times (tiered subscription model)
(11/17)
, Bloomberg
(11/17)
- Justice Department charges Public Warehousing with fraud
Public Warehousing Co., the biggest supplier of food to U.S. troops in Iraq, was charged with overcharging in an indictment handed down by the Justice Department. Kuwaiti-based Public Warehousing has received more than $8.5 billion in government contracts. The allegations come as the Obama administration considers a costly buildup of troops in Afghanistan. Financial Times (tiered subscription model)
(11/16)
, Reuters
(11/17)
- Lawsuit charges banks with antitrust violations
The Sacramento Municipal Utility District sued Bank of America, UBS, JPMorgan Chase and other banks over alleged rigged sales of municipal derivatives. The lawsuit charges the banks with sharing illegal profits through kickbacks. The lawsuit is built on state and federal antitrust laws. Bloomberg
(11/17)
| Other Legal News | | |
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- New list ranks best law schools for "super lawyers"
Harvard Law School will top the list of Law & Politics' first-ever ranking of top law schools for "super lawyers." The rankings, which join a flood of publications seeking to measure law schools, considered which law schools produced the most attorneys on the list of super lawyers that Law & Politics releases every year. The Wall Street Journal/Law Blog
(11/16)
| Professional and Business Development | | |
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- 3 keys for getting a promotion
Before you ask for a promotion, do your homework and make sure you're fulfilling -- or exceeding -- your job duties. Look for ways to improve weaknesses, highlight your strengths and find evidence that the company is benefiting from your performance. If denied a promotion, get specific feedback on what is needed. CNN/CareerBuilder.com
(11/16)
| PLI News | | |
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Bank on PLI program for financial services insight
A truly all-star panel of private practitioners and government lawyers and regulators is convening at PLI on Dec. 9 for a top-to-bottom review of the financial services regulatory reform process a year after the crisis. Banking Law Update: Shaping the Future of the Financial Services System will be held live in New York City, via webcast, and via groupcast in Boston, Philadelphia and Pittsburgh.
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PLI offers free ethics program for pro bono lawyers
Using a lively, interactive format, Ethical Issues in Pro Bono Representation will examine the everyday issues of ethics and professional responsibility through the prism of public interest law practice. There is no charge for this year's event, which is dedicated to the memory of longtime PLI Vice President and pro bono advocate Steven H. Leleiko. The program will be held Dec. 22 in New York City and for a live Web audience.
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