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December 26, 2012
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Legal News in Brief

  Corporate Spotlight 
  • NYSE is sued by pension fund over $8.2B ICE deal
    The New Jersey Carpenters Pension Fund has filed a lawsuit against NYSE Euronext, saying its $8.2 billion deal with IntercontinentalExchange undervalues NYSE stock. The complaint filed in New York State Supreme Court asks the court to block the sale and seeks class-action status on behalf of other NYSE Euronext shareholders. Reuters (12/24) LinkedInFacebookTwitterEmail this Story
  • Real-time trading data coming to SEC
    The Securities and Exchange Commission is testing the software for a system that will give it its first direct access to real-time data on what's going on in the U.S. securities markets. The technology, which will cost the regulator about $2.5 million for the first year, is scheduled to go into full operation early in 2013. The Washington Post (12/24) LinkedInFacebookTwitterEmail this Story
  National News 
  • Obama administration reportedly considers refinancing plans
    Sources say that the Obama administration is looking at plans to offer mortgage-refinancing programs to borrowers who owe more than their homes are worth and who don't have plans backed by the U.S. government. At the end of June, about 22% of all homes with a mortgage -- about 10.8 million homes, down from 12.1 million at the end of 2011 -- were worth less than what borrowers owed. The Wall Street Journal (12/25) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  Employment Focus 
  • A geographical look at retirement-plan ownership
    Americans contribute an average of $1,325 to their retirement accounts per year, with workers in California, the Midwest and the East Coast being most likely to have 401(k) accounts, according to an analysis by Esri. This article features two maps from Esri that break down by location the likelihood that people have retirement accounts. SmartBrief/SmartBlog on Finance (12/24) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • Judge gives final clearance to BP's Gulf oil spill settlement
    BP's settlement with the individuals and businesses affected by the 2010 Gulf of Mexico oil spill has received final approval from U.S. District Judge Carl Barbier. BP expects to pay $7.8 billion to settle damages claims related to the spill. "We believe the settlement, which avoids years of lengthy litigation, is good for the people, businesses and communities of the Gulf and is in the best interests of BP's stakeholders," said BP spokesman Scott Dean. San Francisco Chronicle/The Associated Press (12/22) LinkedInFacebookTwitterEmail this Story
  Other Legal News 
  Professional and Business Development 
  • Why you shouldn't leap at most job offers
    Don't accept a job offer before doing some research into the workplace environment, the people you'll be working with and your potential new boss, experts say. "A bad boss is just one of many things that can make your job difficult. That's why you have to get a look inside," said Gustavo Pena of Ascendo Resources, a recruiting firm. The Wall Street Journal (12/23) LinkedInFacebookTwitterEmail this Story
  • How to turn holiday travel into a career opportunity
    While traveling during the holidays, don't shy away from conversations with strangers that could lead to new business connections or learning opportunities, Roxanne Hori writes. "Not everyone likes to talk on the plane, but if the person next to you seems open to a short conversation, be friendly and take advantage of it," she writes. Bloomberg Businessweek/Getting In blog (12/20) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • Web 2.0 Has Introduced a New Breed of Assets to the 21st Century
    The audio briefing Art of the Deal 2.0 -- Web 2.0 Issues in Technology Acquisitions, at PLI Online on Jan. 23, will outline the latest issues in M&A that arise from the growth of social media and electronic business -- how to buy that business with its social media assets, domain names and account credentials intact. LinkedInFacebookTwitterEmail this Story
  • What In-House Counsel Needs to Know About Dodd-Frank Derivatives
    The Dodd-Frank derivatives rules have been a long time coming, but rest assured they are coming. On PLI's Securities Law Practice Center, check out a great primer from the experts at Jones Day who say that in-house counsel will need to begin to address reporting, recordkeeping and clearing requirements by early 2013, so it's time to get up to speed. LinkedInFacebookTwitterEmail this Story
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--Magdalen Nabb,
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