- The SEC filed a civil complaint against a 53-year-old employee of H. Ross Perot’s investment firm, charging him with making $8.6 million in profit by trading stock options based on non-public information he had about Dell’s $3.9 billion purchase of Perot Systems. (WSJ)
- The Obama administration will continue to hold certain detainees indefinitely and without bringing them to trial, but will do so under the power it asserts it has under a Congressional resolution passed post-9/11, rather than seeking new legislation authorizing such detainment. The announcement by the Justice Department means that the administration is keeping with the Bush administration’s claim that specific authority from Congress to hold detainees without charges is unnecessary, but does distance Obama from the more controversial Bush position that the president has an inherent Constitutional power to detain suspects indefinitely. (NYT)
- Greenberg Traurig and three of its former partners were sued yesterday for $100 million by a former client for allegedly failing to properly prosecute patents and committing discovery abuses; the suit stems from sanctions the former client, Leviton manufacturing, received for the related discovery abuses. (Law.com)
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