February was a busy month on the Porter Wright blog network. Below are several of the highlights that cover diverse topics ranging from investor status to identity fraud and immigration compliance to nanotechnology grants. Also, be sure to check out the Law Alert that covers a landmark antitrust case and the Law Alert that provides information about becoming a supplier to one of the world's largest oil companies.
Accredited Investor Status
In late January, the SEC proposed a new rule to formerly change the definition of “accredited investor” to exclude the value of a person’s primary residence for purposes of determining whether the person qualifies as an “accredited investor” on the basis of having a net worth in excess of $1 million. Read more.
Identity Fraud down 28% in 2010; Consumer Costs Up!
According to Javelin Strategy & Research's 2011 Identity Fraud Survey Report, there was a 28% drop in the number of victims of identity fraud in 2010. Additionally, the number of reported data breaches dropped significantly (404 reported breaches in 2010, down from 604 in 2009). Read more.
The Evolving Ramifications of I-9 Compliance
Investors likely gave no thought to I-9 compliance when buying shares in the Mexican fast food restaurant Chipotle. The Immigration and Customs Enforcement I-9 audits of the company's restaurants that began late last year and are ongoing already have resulted in hundreds of allegedly unauthorized workers losing their jobs. That was just the beginning. With the ever-widening government investigations and audits of the company's workforce, investors are starting to take notice. Read more.
Three US-UK Consortia Receive EPA Grants for Nanotech Research
On February 17 2011, the EPA, in conjunction with the Consumer Product Safety Commission and the UK's Natural Environmental Research Council, announced the awarding of $12 million to three consortia to fund research aimed at providing a greater understanding of potential risks to human health and the environment posed by engineered nanomaterials and their increasing use in a wider variety of products. Read more.
Supreme Court Denies Certiorari in the Leegin Follow-up Case
The United States Supreme Court recently declined a petition for writ of certiorari, which requested review of a subsequent lower court decision in its landmark vertical minimum price fixing decision in Leegin Creative Leather Products, Inc. v. PSKS, Inc. Click here to download the Law Alert.
How to Become a Registered Supplier to One of the World’s Largest Oil Companies
With the recent discovery of vast oil reserves off the coast of Rio de Janeiro, Brazil, the country is poised to become the world’s fourth largest oil producer by 2030. It is not widely known but foreign companies are allowed to register as suppliers of Petrobras, a Brazilian oil & gas company, through an online database of registered suppliers of services and goods. Petrobras’ demand for products and services is enormous, from simple products like pieces of furniture to biochemicals, information technology products and heavy equipment. Click here to download the Law Alert.