Calif. employers perverting arbitration law, private AG plaintiffs tell SCOTUS

REUTERS

Employers are misusing the Federal Arbitration Act as a tool to eliminate representative actions to police California labor code violations, according to a brief filed on Wednesday at the U.S. Supreme Court in a case that will decide the future of California’s Private Attorney General Act – and could have unintended implications in litigation ranging from False Claims Act qui tam suits to shareholder derivative cases. read more »

Opening Statements Continue in `Fat Leonard’ Bribery Trial of Naval Officers

TIMES OF SAN DIEGO

Defense attorneys for a group of Navy officers accused of accepting bribes from foreign defense contractor Leonard Glenn “Fat Leonard” Francis argued Thursday that government prosecutors had no evidence their clients had any illicit agreements with Francis, or that they could deliver the benefits Francis allegedly sought from them. read more »

SEC Charges Venture Capital Fund Adviser with Misleading Investors

SEC

The Securities and Exchange Commission today charged venture capital fund adviser Alumni Ventures Group, LLC (AVG) with making misleading statements about its management fees and engaging in inter-fund transactions in breach of fund operating agreements. The SEC also charged AVG’s CEO, Michael Collins, with causing AVG’s violations. To settle the charges, AVG repaid $4.7 million to affected funds and agreed to pay a $700,000 penalty, whereas Collins agreed to pay a $100,000 penalty. read more »