Tuesday, June 7, 2011

Open for Business: Legal Business News - June 7, 2011

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Open For Business Newsletter

June 7, 2011 FindLaw.com Open For Business Newsletter

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LEGAL ANALYSIS:

'LOSER PAYS' REFORM A WIN FOR TEXAS SMALL BUSINESS?
(FindLaw's Free Enterprise) - After passing with overwhelming support in both houses of the Texas State Legislature, Governor Rick Perry signed Texas' "loser pays" bill into law earlier this week. An extension of tort reform bills passed in the last 10 years, the "loser pays" law is being championed as the antidote to an overcrowded court system and frivolous lawsuits.

FREE WEBINAR ON NEW SMALL BIZ W2, 1099 RULES
(FindLaw's Free Enterprise) - Small businesses have been the focus of a large number of tax code changes in the last two years, a lot of which are now applicable that we are in the 2011 tax year. To get you up to speed on small business employment tax code changes, the National Federation of Independent Business is offering a free webinar this Wednesday, June 8, at 12 noon Eastern.

HOW BUSINESSES SHOULD RESPOND TO A CLASS ACTION
(FindLaw's Free Enterprise) - What is a class action? What are some class action defenses for businesses? Class actions are something that small business owners should be concerned about, as they can cost business owners thousands of dollars.

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NEWS:

CHANTIX SUICIDE: PFIZER COVERS UP DRUG DEATHS?
(FindLaw's Injured) - Pfizer may have intentionally misreported hundreds of incidents detailing Chantix suicide risks and other serious side effects, according to a recent report by non-profit pharmaceutical watchdog.

NEW WHISTLEBLOWER LAW: NO INTERNAL REPORTING NEEDED FOR REWARD
(FindLaw's In House) - A new whistleblower law has corporations on high alert. The new SEC rule, part of the Dodd-Frank Act, gives whistleblowers the ability to collect up to 10-30% of penalties over $1 million that the SEC fines their company, even if they decide to bypass a company's internal reporting system.

HEARTGARD PLUS COVER-UP: WHISTLEBLOWER FIRED FOR PROTECTING DOGS?
(FindLaw's In House) - The filing of a federal lawsuit last week has brought attention to yet another corporate scandal, this time known as the Heartgard Plus cover-up.

TEMPLE-INLAND ADOPTS POISON PILL TO STOP TAKEOVER
(AP) - Packaging and building materials maker Temple-Inland says its board has adopted a shareholder rights plan to thwart a hostile takeover by larger rival International Paper Co.

THE BANKRUPTCY FILES:

JUDGE EXTENDS DEADLINE FOR BORDERS, SALE EXPECTED
(AP) - A judge granted Borders an extension to file its reorganization plan under bankruptcy protection, but a sale of some of its stores appears more likely.

RECENT CASE SUMMARIES:

STANFORD LOSES HIV PATENT CASE WITH ROCHE AT SUPREME COURT
(FindLaw's Decided) - The Roche Supreme Court decision (in Stanford v. Roche) has come down in favor of Roche, 7-2, granting Roche and Stanford equal rights in the patent over a HIV testing technology.


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