Around the country, parties are litigating the issue of whether a provision of the 1995 Private Securities Litigation Reform Act amending RICO is retroactive

Article Abstract:

Courts litigating securities cases since the Private Securities Litigation Reform Act of 1995 have differed on whether the law's amendment of the Racketeer Influenced and Corrupt Organizations Act was retroactive. Federal district courts in Georgia in District 65 Retirement Trust for Members of the Bureau of Wholesale Representatives v. Prudential Securities Inc. and in New York in In re Prudential Securities, Inc. Limited Partnership Litigation have held that Section 107 of the law was not retroactive and denied defendants' motion to dismiss.

United States, Securities fraud, Retroactive laws, Racketeering

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The standards by which a board of directors' conduct is measured when a leveraged buyout fails were the subject of a unique case in Massachusetts

Article Abstract:

The 1997 Healthco Intl case decision raised a number of issues concerning leveraged buyout transactions and the conduct of corporate directors in these buyouts. The standards for director's self-interest, the financial conditions justifying a buyout, shareholders' interests, fiduciary duties owed, and related corporate governance issues were considered in this case. The jury found for the defendant-directors, buyout group, and other advisors who had been sued by a bankruptcy trustee alleging breach of fiduciary duty.

Mergers & Acquisitions, Management Functions, Laws, regulations and rules, Corporate directors, Acquisitions and mergers, Management, Corporate governance, Massachusetts, Leveraged buyouts

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