Posts on ‘July 16th, 2009’

An adviser on investing in hedge funds cannot be sued for securities
fraud for recommending a fund that later turned out to be a Ponzi
scheme, the 2nd U.S. Circuit Court of Appeals has ruled in a closely
watched case. The circuit found that the requirement of scienter was not
met in the pleadings against an adviser who steered a client to Samuel
Israel III and other founders of the Bayou funds group that later bilked
investors out of more than $400 million.

U.S. Supreme Court nominee Sonia Sotomayor weathered a third day of her
Senate confirmation hearing Wednesday, frustrating Republican senators’
attempts to probe her controversial past speeches and her views on
abortion and other hot-button issues. Appearing more relaxed than on
Tuesday, Sotomayor also discussed her years as a private practitioner
and as a prosecutor in New York City, and spoke in greater detail than
she has before about business law issues.

In between the rush and flow of working as general counsel of global computer company Lenovo, Mike O’Neill realized that there are some basic principles that guide his work. He calls these tenets — some of them he’s learned along the way, and some he is still learning every day. He shares those at the top of his list, including the single most important rule for a successful in-house role: We don’t get paid for what we do — we get paid for what we get done.