Posted by Chris Widuta. Did you ever stop to notice how busy life can be? Either you’re on your way to your parents, maybe going to class that meets twice a week during rush hour, or off to the gym to see your friends. Life got busy really quickly for me and I am still managing …
Continue reading “2014 – Blog Business Law – a resource for business law students”
Posted by Radhika Kapadia. The real cost of bribery is a question that often lacks a definitive answer. It seems that Och-Ziff Capital Management, a hedge fund headquartered in New York City, is learning a hard lesson for allegedly engaging in bribery in Africa. The firm is set to pay a hefty price of $412 million …
Posted by Chris Widuta. Did you ever stop to notice how busy life can be? Either you’re on your way to your parents, maybe going to class that meets twice a week during rush hour, or off to the gym to see your friends. Life got busy really quickly for me and I am still managing …
Continue reading “December 2014 – Blog Business Law – a resource for business law students”
Bank of America (“BofA”) recently settled with the U.S. Consumer Financial Protection Bureau and Office of the Comptroller of the Currency for deceptive credit-card practices. BofA is ordered to pay $727 million in refunds to customers and $45 million in penalties. The allegations were BofA induced customers to purchase certain add-ons, such as identity-theft protection, …
Continue reading “Bank of America Settles Consumer Fraud Charges”
The Second Circuit upheld Tom Brady’s suspension for the first four games of the new season and overturned the district court’s ruling. The court ruled the arbitrator’s award was valid and should not be disturbed. Judge Parker, writing for the majority, stated, “Our role is not to determine for ourselves whether Brady participated in a …
Continue reading “April 2016 – Blog Business Law – a resource for business law students”
Posted by Michael Larkin. When one checks into a hotel, one would expect to have their information stored in a company’s database, but one would not expect that database to get compromised. Wyndham Worldwide Corporation was using a property management system that stored customer’s names, addresses, and credit card number. On three separate occasions in …
Continue reading “March 2016 – Blog Business Law – a resource for business law students”
Posted by Patrick Osadebe. On September 17, 2014, a federal judge sentenced Timothy Cromer, a former Detroit public library official, to 10 years in prison for bribery and conspiracy to commit bribery. He was charged for accepting more than $1.4 million in bribes from contractors of the library. Timothy Cromer, 46, was the chief administrative and …
Continue reading “September 2014 – Blog Business Law – a resource for business law students”
Posted by Kimberly Culcay. In the article, “What the PCAOB’s new related-party standard means for auditors,” Maria L. Murphy captures the new standard put in place by the Public Company Accounting Oversight Board (PCAOB). The new standard will require auditors to perform specific procedures that are intended to strengthen auditor performance in high-risk areas, such …
Continue reading “October 2015 – Blog Business Law – a resource for business law students”
IKEA, the popular low-cost furniture manufacturer, recalled 27 million “Malm” dressers. Three children were recently killed as a result of the defect in design. The company was on notice of the tendency of the furniture to be top-heavy, but did nothing to address the issue until the death of a 22-month-old child earlier this …
Business law students study the corporate entity and learn from the beginning that since corporations are legal persons they can be charged with crimes. Corporations cannot be imprisoned, because they have no physical body, but they certainly can face monetary penalties. Such was the recent fate of Credit Suisse. Credit Suisse pled guilty to one …
Continue reading “May 2014 – Blog Business Law – a resource for business law students”
