ABA Section of Business Law
Mr. Corporate in a pinstriped suit — almost OK, maybe the stripe could be a little different for your unwary business client
By FRANK C. RAZZANO and ERIC BENSKY
Your business client is happy with his success but most unhappy with the prospect of spending time behind bars. The authors present 10 scenarios for how your client could wind up there -- from insider trading to bribery to tax evasion. You should know about the possibilities, even if your client would rather not think about it.
Excuse me, but who's the predator?
Banks can use arbitration clauses as a defense
By ALAN S. KAPLINSKY and MARK J. LEVIN
When the target of class-action lawsuits is consumer financial services, the most powerful
deterrent is arbitration clauses put into the contract. Federal courts have ruled that plaintiffs
cannot arbitrate on a class-wide basis. It's expected that all major banks and lending institutions
will implement consumer arbitration procedures in the next five years.
Legitimate businesses can behave badly
By DANIEL C. GIRARD
The author writes from the perspective of the plaintiff's lawyer in class-action lawsuits. He says
that we often see legitimate businesses behaving badly and he has four suggestions on how to
improve results in meritorious class actions, discourage the filing of weak ones, and why
business lawyers should care.
Reform, what reform?
Class actions in securities cases have changed in some ways,
but more needs to be done.
By ELIZABETH S. STONG
Congress enacted the Public Securities Litigation Reform Act in 1995. It has definitely changed
some of the litigation landscape, but the author contends that more needs to be done. Congress
did not achieve all of its objectives the first time around and even though the SEC chairman
thinks further reforms should wait until more of the dust settles, the need for further changes is
becoming more obvious.
Fine-tuning class action rules
The anatomy of a change in procedure
By H. THOMAS WELLS JR.
Changes in the federal procedural rules regarding class actions is a lengthy and in some ways
tortuous process. The author tells how it's done and what the history has been in trying to perfect
the rules on class actions. It goes on for years and four volumes of comments have been recorded
to date. He also discusses the Sandeo case, where plaintiffs got $5.50 each and the lawyers got
$10 million.
Making nice
Help your client nurture good relationships in contract negotiations
By MARTIN B. ROBINS
Your business client wants to develop good business relationships but can't seem to settle down
when it comes time to negotiate a contract with his suppliers, customers or lenders. As his
lawyer, you have to listen to your client, set priorities, count the money, not reinvent the wheel
and note your ethical duty. Sometimes that's not easy, but it's very necessary.
Breaking new ground
How corporate pro bono can work
By SUSAN HACKETT
Some corporate, or "in-house," lawyers think they can't get into offering free legal services to the
poor. That that's more of a law-firm thing, something they can't really do in a corporate setting.
The author tells not only how it can be done but how it's really being done by a lot of corporate
legal departments, such as General Motors. She also lists some resources for getting it going.
Whisking oil and water
Departments
