Archive for January 2013

Elizabeth C. Grant The United States Department of Justice and the Securities and Exchange Commission released their highly anticipated Guide to the U.S. Foreign Corrupt Practices Act (FCPA) on November 14, 2012. Although many looked to the agencies to clarify aspects of the FCPA and shed new light on enforcement actions, the Guide provides few…

Diane E. Ghrist In Gatz Properties, LLC v. Auriga Capital Corp.,[1] the Delaware Supreme Court held that the Delaware LLC Act does not explicitly impose default fiduciary duties when those duties have not been provided for in the LLC agreement. This per curium decision vociferously knocked Chancellor Strine’s assertion that managers of Delaware LLCs owe…