Reid-Kyl Bill Would Legalize Online Poker at Federal Level
A draft of the online poker bill that Sen. Harry Reid (D-Nev.) and Sen. Jon Kyl (R-Ariz.) plan to introduce was released this week. The bill, known as the “Internet Gambling Prohibition, Poker Consumer Protection, and Strengthening UIGEA Act of 2012” would legalize online poker at the federal level, a step that became possible last…
Read MoreDOJ Opinion on Key FCPA Issue Makes Sense, But What’s Next?
We have previously advocated for the Department of Justice to employ a more narrow reading of the term “foreign official” in the Foreign Corrupt Practices Act. Therefore, we were pleased to see that the DOJ recently issued an opinion that parsed the definition and came to the conclusion that a member of a foreign royal…
Read MoreLibya Loses Court Battle Over Its Own ‘Libyan Embassy’ Trademark
In an interesting recent opinion, the U.S. District Court for the District of Columbia rebuffed the Libyan Government’s bid to obtain a transfer to it of the domain name registration for libyanembassy.com from a “legalization expeditor” – a company that certifies documents as one step in the process of international legalization of documents (such as…
Read MoreExecutive’s Internet Searches Give SEC the Road Map to Make an Arrest
The U.S. Securities and Exchange Commission has charged an executive at Bristol-Myers Squibb with insider trading, citing his Internet searches as support that he tried to cover up his illegal acts. As a high-level executive in the treasury department at Bristol-Myers Squibb, Robert D. Ramnarine helped the company target, evaluate, and acquire other pharmaceutical companies.…
Read MoreJudge Clamps Down on DOJ Efforts to Apply U.S. Law Abroad
The U.S. Department of Justice’s recent boasts about rigorous enforcement of the securities laws ran into a significant obstacle this month when a federal judge in Washington, D.C., dismissed part of a $50 million securities fraud case and accused DOJ prosecutors of overreaching. In an increasingly global economy, the case is a good measure of…
Read MoreDepartment of Justice Enters Historic Agreement with PokerStars, Full Tilt Poker
Full Tilt Poker, PokerStars, and the U.S. Department of Justice announced today that PokerStars will acquire Full Tilt Poker’s assets in a transaction that ends the DOJ’s civil forfeiture case against Full Tilt. Both Full Tilt and PokerStars ran online poker sites in the U.S., and in 2011 the DOJ charged both of them with…
Read MoreAfter Legislature Acts, Delaware Ready to Become 2nd State to Legalize Online Gaming
Delaware is now poised to become the second state to legalize online gaming. On Wednesday, that state’s Senate passed a bill that would legalize web table games, including poker, video lottery games, and traditional lottery games to be offered online. Democratic Governor Jack Markell supports the bill and is expected to sign it into law…
Read MoreAppellate Court Casts Doubt on Acceptability of ‘Obey-the Law’ Injunctions
We recently blogged about the recent decision of the U.S. Court of Appeals for the 11th Circuit in Securities and Exchange Commission v. Goble, 2012 WL 1918819 (11th Cir. May 29, 2012). There, we discussed the appeals court’s limitation on the reach of the concept of “securities fraud” under Section 10(b) of the Exchange Act…
Read MoreFBI Raid Targets For-Profit School in Florida: Was This Necessary?
When you hear of FBI agents descending upon a place, you might think of a hostage situation, a drug raid, or the penetration of a terrorist cell. But you probably wouldn’t assume that those armed agents were working with the U.S. Department of Education on a raid on a Florida for-profit college. FBI agents raided…
Read MoreDOJ’s Response to Grassley Gives Details, but Not the Right Details
The Justice Department showed off some fancy dance moves in a recent sidestep it used to respond to an inquiry from Senator Chuck Grassley (R-Iowa). Grassley wanted detail from Justice to support its claims that it has brought thousands of mortgage fraud cases, including numerous convictions against Wall Street execs, following the 2008 housing crisis.…
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