With the temperatures reaching mind-bending levels, we
considered it advisable to stay inside, drink plenty of fluids, and limit our
exertions. So in lieu of a more elaborate post, we have simply noted some
mid-summer quick hits below.
Action against U.S.-Listed Chinese Companies
SciClone Settles FCPA Follow-on Derivative
Suit : In a settlement that involves a company with
significant Chinese operations -- and that also may represent something of a
template for the settlement of FCPA enforcement follow-on civil lawsuits --
SciClone Pharmaceuticals and the individual defendant...
In a story in the D&O
Diary , entitled " More
Woes for Companies with Chinese Connections ", Kevin LaCroix discussed
the settlement reached by the entity SciClone Pharmaceuticals, and its
individual defendant directors and officers, in litigation involving three
In what is by far the largest settlement in the current
wave of securities litigation involving Chinese companies, Ernst &Young,
which served as the outside auditor for Sino-Forest, has agreed to pay C$117
million to settle the securities suit that Sino-Forest investors filed
in Ontario against...
In what appears to be the first actual judgment in the
several dozen cases involving allegations of impropriety in cases of Chinese
companies that went public in the US, a $77 million arbitration award was
granted to a plaintiff in an arbitration case in Hong Kong.
AIG CEO Hank Greenberg's...
In a January 22, 2013 opinion ( here) ,
Southern District of New York Judge J. Paul Oetken has
dismissed one of the many securities class action lawsuits that were filed
against U.S.-listed Chinese companies in 2011. Though the primary interest in
the case may be that it involves U.S. securities...