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Keeping the Data-Breach Headlines In Perspective
From the Sony Pictures settlement, to the Ashley Madison debacle, data breaches are making big headlines of late. And when it comes to one case in particular ' the data breach at luxury retailer Neiman Marcus (Remijas v. Neiman Marcus, No. 14-3122 (7th Cir. July 20, 2015)) ' some would-be experts are spinning a misleading, black-and-white storyline. As you may remember, the 2013 data breach exposed the credit card data of 350,000 Neiman Marcus customers. This led to fraudulent charges occurring in 9,200 of those customer accounts. In short order, a class-action lawsuit followed in which customers sought $5 million in damages. While a district court dismissed the case ' in part because customers had been reimbursed for the false charges in question ' the U.S. appeals court reversed that dismissal in late July.
This ruling, according to the pundits, represented a tipping point toward victims of cyber fraud, and one that, as they saw it, may lead to a wave of successful class-action lawsuits filed across the country. To be sure, data breaches are a significant problem and certainly represent a liability risk. However, let's take a closer look at the precise meaning and context of the Neiman Marcus ruling. Do the pundits truly appreciate the procedural context in which the court reviewed the case? Are they accounting for the most important part of any class-action lawsuit ' class certification?
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.