Wednesday, January 6, 2010

Bank of America, AIG, and Comverse

I have a post I am writing on dischargeable suits in business bankruptcy, but am right now pressed for time (and since we're all subject to the nightmare that is the first week back from the Holiday, am summarizing here articles I would have otherwise turned into a post >> thanks for your patience!).

AIG GC Anastasia Kelly's threat to walk in light of Compensation Czar Feinberg's December rulings on pay was real - she is in fact leaving, and with several million in severance compensation. This blawg's discussion of Compensation Czar Feinberg can be found here.

My most favorite legal actor right now, Bank of America!! As we all prepare for the March 1 trial date, Rakoff of the S.D.N.Y. ruled Monday that BofA would not be able to present expert testimony that media reports of the Merrill bonuses constituted disclosure to shareholders. This blawg's discussion of BofA can be found here.

Part of Comverse Technology Inc.'s $ 225 million stock option backdating settlement will include a $1 million contribution by former GC William Sorin (which in exchange will drop a pending suit waged against him by the company). Some of this blawg's discussion of stock option backdating can be found here.

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