BLT: October 2014

Business & Corporate

Seeking Law Abiding Drones: What to Tell Clients that Want to Use Drones in Their Business

The proliferation of microdrones priced around $1,000 confronts many businesses with difficult legal choices. Many of your clients want to fly them now. Other clients wish drones could be exterminated. The law right now is confused. What do you do?

Business & Corporate

What Banks Should Know About the Eighth Circuit’s Decision in Choice Escrow & Land Title, LLC v. BancorpSouth Bank

On June 11, 2014, the Eighth Circuit issued a decision regarding cyber security and who should bear the loss for unauthorized funds transfers. In Choice Escrow & Land Title v. BancorpSouth Bank, the Eighth Circuit’s decision was markedly more favorable to financial institutions than the First Circuit’s decision in Patco Construction Co. v. People’s United Bank. This case is informative for all banks as the issue of loss allocation for fraudulent payment orders continues to evolve.

Business & Corporate

Section 10(b) Litigation: The Current Landscape

This article provides an overview of shareholder actions under Section 10(b) of the Securities Exchange Act of 1934, including the elements of a claim, common defenses, and recent developments.

Business & Corporate

KEEPING CURRENT: SEC Charges Broker-Dealer for Failure to Protect Against Insider Trading by Employees

The SEC for the first time brought charges against a broker-dealer for failure to adequately protect against insider trading by its employees. The charges stem from a broker’s use of a customer’s confidential information to purchase shares in a company being acquired by a private equity firm. The various channels of obtaining material nonpublic information and the risks of potential misuse make monitoring of trading by the firm, its registered representatives, and its customers critical to complying with the supervision requirements.

Business & Corporate

KEEPING CURRENT: The New York State Supreme Court Commercial Division: Past, Present, and Future

Hon. Timothy S. Driscoll

The success of the Commercial Division of the New York Supreme Court can be measured by the depth and breadth of the cases over which its judges preside, the active and innovative management techniques employed by individual judges to manage cases of ever-increasing complexity, and the desire of nearly all counsel who are litigating a business case to have their matter heard in the Commercial Division.

Business & Corporate

KEEPING CURRENT: Delaware Appraisal: Practical Considerations

The number of post-merger appraisal petitions in Delaware has increased significantly in recent years. Most of this increased activity is due primarily to the rise of appraisal arbitrage as a weapon of shareholder activists seeking alternative methods of influence and value creation in the M&A sphere.

Business & Corporate

DELAWARE INSIDER: Private Company Financings: Delaware Court Provides Guidance for Boards and Venture Funds

Jeffrey R. Wolters

The Delaware courts have now decided several notable cases concerning inside rounds – and in particular the fiduciary duties of boards in approving them. The recent decision of the Delaware Court of Chancery in In re Nine Systems Corporation Shareholders Litigation is especially instructive for private company directors, investors, and the lawyers who advise them.

Business & Corporate

MEMBER SPOTLIGHT: An Interview with Professor Sharon K. Sandeen

Sharon K. Sandeen is a Professor at Hamline University School of Law in St. Paul, Minnesota, and a recognized expert on trade secret law, having co-written the first casebook on trade secret law in the United States. Prior to beginning her teaching career, she practiced law for 15 years in Sacramento, California, specializing in intellectual property litigation.

Business & Corporate

Inside Business Law (Oct. 2014)

This month, Inside Business Law highlights a number of programs presented at the Business Law Section Annual Meeting in September, and provides links to the program materials and to the audio of the highlighted programs. The column also covers two upcoming In the Know programs and provides links to free registration.

Business & Corporate

Nominations Sought for Section Leadership Positions

Do you know anyone who has what it takes to be a good Section leader? The Nominating Committee of the Section needs your recommendations for leadership positions for the 2015-2016 association year.