Corporations and securities brief ~ Berkshire Hathaway in SEC probe News
Corporations and securities brief ~ Berkshire Hathaway in SEC probe

[JURIST] Leading Monday's corporations and securities law brief, Warren Buffett [Wikipedia profile] company Berkshire Hathaway has revealed that the management company is being investigated by the SEC and the state of New York, among others. In a filing [text] with the SEC, the company said that the government has been investigating Berkshire's activities related to its accounting practices and involvement in the re-insurance industry since January. Though it was known that there have been government investigations of several of Berkshire Hathaway subsidiaries involved in re-insurance [CNN report], this is the first public acknowledgement that Berkshire Hathaway was itself being investigated. The filing also said much of the investigation involves a transaction with AIG in 2000 [JURIST report]. Bloomberg has more.

In other corporations and securities law news…

  • The European Commission [official website] Monday approved Hong Kong-based TPV Technology's purchase of Dutch Royal Philips Electronics' television and monitor business. In a press release the commission said, "Although the parties' combined market share is ahead of that of competitors, TPV and Philips Monitors will continue to face strong competition post merger." The $350 million purchase makes TPV the world's largest monitor producer. Xinhua has more.
  • The SEC has filed suit against two former Citigroup [corporate website] executives in federal court. The government alleges that Thomas W. Jones and Lewis E. Daidone fraudulently diverted money towards the bank and away from investors. In a press release, the SEC accuses the former executives of orchestrating the fraud. The SEC also said that this action follows the agency's $208 million settlement with Citigroup in May [SEC release] over the same incident. Bloomberg has more.
THIS DAY @ LAW

Hitler and Nazis attempt failed coup in Beer Hall Putsch

Adolf Hitler and the Nazi Party attempted an ill-faited coup in Munich, Germany on November 8, 1923. Instead of seizing power, the conspirators suffered 15 casualties and their leaders were arrested, including Hitler. The future dictator would spend a year in prison as a result, where he would write his infamous Mein Kampf. Learn more about the Beer Hall Putsch.

Oregon legalized physician-assisted suicide

On November 8, 1994, Oregon passed the Death With Dignity Act by voter initiative, becoming the first US state to legalize physician-assisted suicide. Read the Death With Dignity Act,

France government opens the Louvre as a public museum

On November 8, 1793, the revolutionary government in France opened the Louvre for the first time as a public museum. Learn more about the history of the Louvre.