Corporations and securities brief ~ Spitzer to retry fraud charges against Sihpol News
Corporations and securities brief ~ Spitzer to retry fraud charges against Sihpol

[JURIST] Leading Thursday's corporations and securities law news, New York Attorney General Eliot Spitzer [Wikipedia profile] will retry ex-Bank of America broker Theodore Sihpol. Sihpol was acquitted on 29 counts of fraud-related charges last month [JURIST report], but the jury deadlocked on 4 counts and the judge declared a partial mistrial, leaving Spitzer the choice to retry those 4 counts. Bloomberg has more.

In other corporations and securities law news…

  • Deloitte [corporate website], once Parmalat's primary accounting firm, has said that it may settle with the bankrupt Italian dairy. Parmalat filed a $10 billion lawsuit against Deloitte [JURIST report], among others, to recoup money it says it lost through fraudulent accounting. Deloitte's CEO, William Parrett [corporate profile], said in an interview that his company did not commit fraud against Parmalat but would settle if it would save Deloitte money in the long run. Reuters has more.
  • Boeing [corporate website] confirmed that is under investigation by the US State Department [official website] for selling planes equipped with motion-sensor devices to China. The devices are on a list of technology with possible military applications that US manufacturers are not allowed to export to China. The Seattle Times has reported that Boeing faces up to $47 million in fines for the transactions. Reuters has more.
THIS DAY @ LAW

International Day Against Fascism and Anti-Semitism

November 9 is the International Day Against Fascism and Anti-Semitism [UNITED factsheet]. On November 9, 1924, American gay activist Henry Gerber and several associates formed the Society for Human Rights, the first gay rights organization in the United States. The Society received a charter from the State of Illinois in December but was disbanded in July 1925 after a police raid which led to Gerber's arrest and trial (albeit not conviction). Pay a virtual visit to Henry Gerber House, now a registered Chicago landmark.

Supreme Court strikes down Massachusetts anti-draft law

On November 9, 1970, the Supreme Court voted 6-3 in Massachusetts v. Laird not to hear the case of the state's anti-draft law. Massachusetts had passed a law, which allowed its citizens to decline to fight in any undeclared war, even if the person was drafted. The law was passed in opposition to the draft and the war in Vietnam. The First Circuit found the war constitutional and thus struck down the law.