Reynolds's Feed
Jul 24, 2012
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Do-it-yourself law firm IPO looks a bit too feisty

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By Reynolds Holding and Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are their own.

The upcoming stock-market debut for America’s best-known do-it-yourself law firm looks a bit feisty. Bankers are valuing LegalZoom at a whopping 40 times last year’s earnings. That’s justifiable if the online legal site can turn impressive revenue growth into consistent earnings. But potential lawsuits and rising competition are just two of the company’s biggest risks.

Jul 10, 2012
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Going broke can be true emergency for U.S. cities

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Going broke can be a true state of emergency for American cities. It’s not a riot or flood, but it’s close enough to justify temporarily trimming workers’ pay, says one Nevada town. Though labor unions disagree, the argument is legally plausible and could save essential services. With more cities tumbling into insolvency, public officials need fresh ways to tighten belts.

Jun 20, 2012
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Lehman sideshow underscores regulatory gaps

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A case that’s a mere sideshow to the Lehman Brothers spectacle underscores serious regulatory gaps. Unable to bag Dick Fuld & Co, the U.S. Securities and Exchange Commission has spent three years suing a money market fund for its exposure to the collapsed bank. But while Lehman wreaked havoc on markets, the Reserve Primary Fund made investors essentially whole. The folly is a reminder of the watchdog’s flaws.

Jun 16, 2012

Rajat Gupta goes down but insider trading may not

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Reynolds Holding

NEW YORK (Reuters Breakingviews) – Rajat Gupta has gone down, but insider trading may not. The guilty verdicts against the former McKinsey boss and Goldman Sachs and Procter & Gamble director should scare the bejeezus out of corporate America and Wall Street. But until the rules against passing privileged information are clearly defined and miscreants truly fear getting caught, the case’s deterrence value will be limited.

Jun 13, 2012

U.S. judge deflates smartphone lawsuit bubble

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Reynolds Holding

NEW YORK, June 13 (Reuters Breakingviews) – A U.S. judge may
have deflated the smartphone lawsuit bubble. Apple (AAPL.O: Quote, Profile, Research) ,
Samsung (005930.KS: Quote, Profile, Research) and Google’s (GOOG.O: Quote, Profile, Research) Motorola Mobility have
been waging a global war over the rights to technology that
powers features on touch-screen gizmos. But a ruling last week
exposes the extravagant claims as mere ploys to gain competitive
advantage.

Jun 8, 2012

Bankers can’t always hide behind bad legal advice

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Reynolds Holding

NEW YORK, June 8 (Reuters Breakingviews) – Bankers can’t
always hide behind bad legal advice. A former Deutsche Bank
(DBKGn.DE: Quote, Profile, Research) broker convicted in a tax-shelter scheme won’t get a
new trial because of blunders by his counsel. And yet ex-Bank of
America (BAC.N: Quote, Profile, Research) Chief Executive Ken Lewis is blaming lawyers for
seemingly insufficient disclosure before shareholders voted on
the 2008 merger with Merrill Lynch. It’s enough to give
attorneys whiplash.

Jun 7, 2012
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Google’s antitrust problem is all about privacy

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By Reynolds Holding 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Google’s antitrust problem is actually about privacy. They seem like separate issues – Google has argued as much – but the internet search giant’s market dominance is largely fueled by its access to users’ personal data. Limiting that could give competition a useful jolt.

May 31, 2012
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Blackstone loss could be gain for Facebook owners

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The Blackstone Group’s loss could be Facebook investors’ gain. Judges are citing a ruling last year against the private equity firm to push other companies for more disclosure before they go public. That could help shareholders claiming that the social network downplayed revenue doubts in regulatory filings ahead of its initial public offering. 

May 26, 2012

Prosecutors gain early edge in Rajat Gupta trial

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Reynolds Holding

NEW YORK (Reuters Breakingviews) – U.S. prosecutors have gained an early edge in Rajat Gupta’s insider-trading trial. Judge Jed Rakoff largely adopted their version of a preliminary jury instruction a week after allowing them to introduce wiretap evidence. The former McKinsey & Co. boss and Goldman Sachs (GS.N: Quote, Profile, Research) director hasn’t put on his defence yet. But he’ll need some breaks soon if he’s going to beat the insider trading rap.

May 16, 2012
via Breakingviews

Law site’s IPO evokes a future beyond dying firms

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

LegalZoom’s planned initial public offering evokes a future beyond dying law firms. It’s coincidence that the U.S. self-help legal website’s $120 million filing has landed just as New York partnership Dewey & LeBoeuf is evaporating. But the rise of the online provider of legal documents sends old-line lawyers a sharp warning.

    • About Reynolds

      "Reynolds Holding is a Breakingviews columnist who writes from New York about the law in conjunction with Reuters Legal. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of ..."
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