Global Disclosures: Litigation Risk | Westlaw Business Currents

For most U.S. trained attorneys, it probably doesn’t come as a surprise that even the mere possibility of litigation should be disclosed somewhere in a company’s annual report. But for attorneys preparing an annual report for a foreign filer from a less litigious country – basically every other country – take note this 20F/40F season: Companies are erring on the side of conservatism when it comes to litigation risk. Companies from camera manufacturer Canon to mobile phone manufacturer Ericsson to Norwegian oil company Statoil are disclosing risks ranging from IP litigation to uncertainty in certain target markets, to dealing with wrongful termination allegations. While litigation disclosures are certainly not one-size fits all, below are a few of the themes rising up through this 20F/40F filing season.

General litigation risk disclosures come in every shape and size, but a pretty standard example comes from Italian oil and natural gas company Eni SpA. In their recent 20F, however, they stated that lawsuits are an ordinary occurrence in their line of business. A similar disclosure appears in the recent annual report from Newfoundland-based Canadian mineral royalty company Terra Nova Royalty Corp.

And although materiality should play a factor in determining whether to disclose, every lawsuit should be reviewed to determine the potential impact. A prime example is British Columbia, Canada-based Chai Na Ta’s recent admission that the company became involved in a lawsuit related to an automobile accident. Although the company believes that insurance will fully indemnify the company, the disclosure serves as an example that no rock should remain unturned in the quest for transparency. Likewise, Norwegian Statoil discusses in detail two lawsuits, one of which explicitly states the financial impact is immaterial.

via Global Disclosures: Litigation Risk.

Global Disclosures: Litigation Risk

As this year’s foreign private issuer annual reports are now coming in to the SEC, we at Westlaw Business see it as our job to keep you informed of issues and events, based on SEC correspondence, and other related documents, that may impact your filings. To help you prepare your disclosures, we’ve begun this series covering the 20-F/40-F considerations that are most important to global businesses this year.

For most U.S. trained attorneys, it probably doesn’t come as a surprise that even the mere possibility of litigation should be disclosed somewhere in a company’s annual report. But for attorneys preparing an annual report for a foreign filer from a less litigious country – basically every other country – take note this 20F/40F season: Companies are erring on the side of conservatism when it comes to litigation risk. Companies from camera manufacturer Canon to mobile phone manufacturer Ericsson to Norwegian oil company Statoil are disclosing risks ranging from IP litigation to uncertainty in certain target markets, to dealing with wrongful termination allegations. While litigation disclosures are certainly not one-size fits all, below are a few of the themes rising up through this 20F/40F filing season.

General litigation risk disclosures come in every shape and size, but a pretty standard example comes from Italian oil and natural gas company Eni SpA. In their recent 20F, however, they stated that lawsuits are an ordinary occurrence in their line of business. A similar disclosure appears in the recent annual report from Newfoundland-based Canadian mineral royalty company Terra Nova Royalty Corp.

And although materiality should play a factor in determining whether to disclose, every lawsuit should be reviewed to determine the potential impact. A prime example is British Columbia, Canada-based Chai Na Ta’s recent admission that the company became involved in a lawsuit related to an automobile accident. Although the company believes that insurance will fully indemnify the company, the disclosure serves as an example that no rock should remain unturned in the quest for transparency. Likewise, Norwegian Statoil discusses in detail two lawsuits, one of which explicitly states the financial impact is immaterial.

via Global Disclosures: Litigation Risk.

10 Simple Google Search Tricks – NYTimes.com

I’m always amazed that more people don’t know the little tricks you can use to get more out of a simple Google search. Here are 10 of my favorites.

Use the “site:” operator to limit searches to a particular site. I use this one all the time, and it’s particularly handy because many site’s built-in search tools don’t return the results you’re looking for (and some sites don’t even have a search feature). If I’m looking for WWD posts about GTD, for example, I could try this search: GTD site:webworkerdaily.com.

Use Google as a spelling aid. As Rob Hacker — the WWD reader I profiled last week — pointed out, entering a word into Google is a quick way to see if you have the right spelling. If it’s incorrect, Google will suggest the correct spelling instead. Additionally, if you want to get a definition of a word, you can use the “define:” operator to return definitions from various dictionaries (for example, define: parasympathetic).

Use Google as a calculator. Google has a built-in calculator — try entering a calculation like 110 * (654/8 + 3). Yes, your computer also has a calculator, but if you spend most of your day inside a browser, typing your calculation into the browser’s search box is quicker than firing up your calculator app.

Find out what time it is anywhere in the world. This one’s really handy if you want to make sure that you’re not phoning someone in the middle of the night. Just search for “time” and then the name of the city. For example, try: time San Francisco

Get quick currency conversions. Google can also do currency conversion, for example: 100 pounds in dollars. It only has the more mainstream currencies, though — if you’re trying to see how many Peruvian nuevos soles your dollars might buy, you’ll be out of luck.

Use the OR operator. This can be useful if you’re looking at researching a topic but you’re not sure which keywords will return the information you need. It can be particularly handy in conjunction with the “site:” operator. For example, you could try this search: GTD or “getting things done” site:webworkerdaily.com

Exclude specific terms with the – operator. You can narrow your searches using this operator. For example, if you’re looking for information about American Idol but don’t want anything about Simon Cowell, you could try: “american idol” -cowell

Search for specific document types. Google can search the web for specific types of files using the “filetype:” operator. If you’re looking for PowerPoint files about GTD, for example, you could try: GTD filetype:ppt

Search within numerical ranges using the .. operator. Say, for example, you want to look for information about Olympic events that took place in the 1950’s, you could use this search: Olympics 1950..1960

Area code lookup. Need to know where a phone number is located? Google will let you know where it is, and show you a map of the area, too. For example: 415

via 10 Simple Google Search Tricks – NYTimes.com.

Mitigating corporate fraud risks in the life sciences and healthcare sectors

Over the past 18 months, there has been a noticeable increase in enforcement activity aimed at tackling the growing issue of corporate fraud. The most striking example has been a stricter enforcement of the Foreign Corrupt Practices Act (FCPA) by the US Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI). Furthermore, the Department of Justice (DOJ) announced on several occasions that it will focus its FCPA enforcement on the pharmaceutical and medical device industry. Already, the DOJ has realigned its resources to enable prosecutors of FCPA violations and healthcare fraud to work together and combine their expertise.

Experts suggest there has been a visible increase in the scrutiny of pharmaceutical and biotech companies by both federal and state enforcement agencies since the start of the economic turmoil. Evidenced by the recent rise in civil settlements and criminal fines, governing bodies have been aggressively enforcing the rules and regulations that govern the sector.

“Further evidence of the federal government’s enforcement focus on the industry is illustrated by the increases in budget and personnel resources allocated to combat fraud,” says Michael Koon, a partner at Shook Hardy & Bacon LLP. “For example, the DOJ created a new interagency task force, the Health Care Fraud Prevention and Enforcement Team, or Heat, in 2009.” Heat was specifically formed to increase coordination and optimise criminal and civil enforcement. The DOJ has already credited Heat among other strike forces for their recent healthcare fraud recoveries.

via Mitigating corporate fraud risks in the life sciences and healthcare sectors.

Official Google Blog: New in Google Squared: quality improvements, sorting and exporting

Today we’re launching a number of improvements to the amount and quality of information you can find with Google Squared, as well as new tools to sort and export the data.

As we explained when we first launched Squared in Labs this summer, the product takes on a difficult technical challenge. It's a first step towards automatically extracting useful facts from all over the web and presenting them in meaningful way. It has the potential to be particularly useful for research questions where the answers may not live on a single website, but instead must be combined from many different pages.

Rather than return a list of the most relevant websites, Squared returns a “square” (or table) of facts, sourced from across the Internet. For example, if you search Squared for [us presidents], each row on the resulting table represents a particular United States President, and the columns include relevant facts about him, such as date of birth, a picture and a short description.

At launch, your first square could include at most 30 facts. With today's update, squares display four times as much data — up to 120 facts. For example, instead of seeing only five presidents and three categories, now you’ll see a table with 20 presidents and up to six attributes.

The quality of the information is also better, because we’re ranking based on both relevance to your query and whether we can find high quality facts. For example, in the past we would show you a column for “First Lady” even if the column only included a couple accurate names. Now we’re actively filtering out items (rows) and attributes (columns) from the initial square if we haven’t found enough accurate data. Perhaps more interesting, we built Squared to learn from edits and corrections, so as people have been improving their squares, Google Squared has gotten better for everyone.

In addition to improving the information in Squared results, we’ve also added the ability to sort columns, so you can rank, group and compare items. Squared will even convert units in the background to make sure the data is sorted properly. For example:

We’ve also added the ability to export data from Squared to a Google Spreadsheet or a CSV file, which should make it easier to do interesting things with the data. For example, you can build a square for [african countries], add more items and columns, and examine the relationship between the literacy rate and GDP per capita. Once you’ve built your square to contain all the information you need, you can export the square to Google Spreadsheets andcreate a rough scatter plot:

via Official Google Blog: New in Google Squared: quality improvements, sorting and exporting.

Technology News: Government: Sir Tim Unveils Slick UK Government Services Site

Move over Data.gov. The United Kingdom has unveiled its own version of an open source database for its citizens, and the U.S. version pales in comparison.

The site, data.gov.uk, which has been running in beta since last September, opened to the public this week to much fanfare. The brainchild of Web founder Tim Berners-Lee and Nigel Shadbolt, a professor of computer science at Southampton University, the site provides official data to the public for free.

It also provides tools — such as datasets, design specs, a forum and a wiki — that allow developers to create mashups of the data, or apps, for their own purposes.

Already, there are several hundred apps on the site. Mouseprice, for example, provides free access to Land Registry price-paid data that is matched with estate agency data, Google (Nasdaq: GOOG) Maps street views, and Microsoft (Nasdaq: MSFT) satellite imagery. Another example is a crime map for Northern Ireland.

via Technology News: Government: Sir Tim Unveils Slick UK Government Services Site.

Finding the laws that govern us | Official Google Blog

As many of us recall from our civics lessons in school, the United States is a common law country. That means when judges issue opinions in legal cases, they often establish precedents that will guide the rulings of other judges in similar cases and jurisdictions. Over time, these legal opinions build, refine and clarify the laws that govern our land. For average citizens, however, it can be difficult to find or even read these landmark opinions. We think that's a problem: Laws that you don't know about, you can't follow — or make effective arguments to change.

Starting today, we're enabling people everywhere to find and read full text legal opinions from U.S. federal and state district, appellate and supreme courts using Google Scholar. You can find these opinions by searching for cases (like Planned Parenthood v. Casey), or by topics (like desegregation) or other queries that you are interested in. For example, go to Google Scholar, click on the “Legal opinions and journals” radio button, and try the query separate but equal. Your search results will include links to cases familiar to many of us in the U.S. such as Plessy v. Ferguson and Brown v. Board of Education, which explore the acceptablity of “separate but equal” facilities for citizens at two different points in the history of the U.S. But your results will also include opinions from cases that you might be less familiar with, but which have played an important role.

We think this addition to Google Scholar will empower the average citizen by helping everyone learn more about the laws that govern us all. To understand how an opinion has influenced other decisions, you can explore citing and related cases using the Cited by and Related articles links on search result pages. As you read an opinion, you can follow citations to the opinions to which it refers. You can also see how individual cases have been quoted or discussed in other opinions and in articles from law journals. Browse these by clicking on the “How Cited” link next to the case title. See, for example, the frequent citations for Roe v. Wade, for Miranda v. Arizona (the source of the famous Miranda warning) or for Terry v. Ohio (a case which helped to establish acceptable grounds for an investigative stop by a police officer).

As we worked to build this feature, we were struck by how readable and accessible these opinions are. Court opinions don’t just describe a decision but also present the reasons that support the decision. In doing so, they explain the intricacies of law in the context of real-life situations. And they often do it in language that is surprisingly straightforward, even for those of us outside the legal profession. In many cases, judges have gone quite a bit out of their way to make complex legal issues easy to follow. For example, in Korematsu v. United States, the Supreme Court justices present a fascinating and easy-to-follow debate on the legality of internment of natural born citizens based on their ancestry. And in United States v. Ramirez-Lopez, Justice Kozinski, in his dissent, illustrates the key issue of the case using an imagined good-news/bad-news dialogue between the defendant and his attorney.

We would like to take this opportunity to acknowledge the work of several pioneers, who have worked on making it possible for an average citizen to educate herself about the laws of the land: Tom Bruce (Cornell LII), Jerry Dupont (LLMC), Graham Greenleaf and Andrew Mowbray (AustLII), Carl Malamud (Public.Resource.Org), Daniel Poulin (LexUM), Tim Stanley (Justia), Joe Ury (BAILII), Tim Wu (AltLaw) and many others. It is an honor to follow in their footsteps. We would also like to acknowledge the judges who have built this cathedral of justice brick by brick and have tried to make it accessible to the rest of us. We hope Google Scholar will help all of us stand on the shoulders of these giants.

via Official Google Blog: Finding the laws that govern us.

Future Legal Technology Tool? Similar Images graduates from Google Labs

Similar Images is graduating from Google Labs and becoming a permanent feature in Google Images. You can try it out by clicking on “Find similar images” below the most popular images in our search results. For example, if you search for jaguar, you can use the “Find similar images” link to find more pictures of the car or the animal.

via Official Google Blog: Similar Images graduates from Google Labs.