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Securities & Financial News to Note : Bulletin - February 6, 2012

This bulletin is published every other week on Monday and is disseminated via electronic mail. It features brief summaries of current legal developments in the SEC/corporate, accounting/tax, banking, litigation, as well as other business and financial service areas when appropriate.

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Labor, Employment and Benefits: Alert - February 6, 2012

The U.S. Supreme Court recently denied an employer’s request for review of a decision by the U.S. Court of Appeals for the Eighth Circuit, which held that tipped employees spending more than 20 percent of their time performing related but non-tipped duties must be paid the full minimum wage for that time, without the tip credit.

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In The Headlines

Chet Hooper Comments on Recent U.S. Supreme Court Ruling in the Exxon Valdez Case
 
 June 27, 2008
 
Chester D. Hooper- Boston
Harmony I. Loube- Washington
Jovi Tenev - New York

Holland & Knight Maritime Partner Chet Hooper has been quoted in several publications reporting on the Exxon Valdez ruling where the Supreme Court set the 1:1 ratio for punitive damages to compensatory damages. Chet, who with Jovi Tenev, Dennis Bryant, Harmony Loube and Lissa Schaupp, wrote a brief in favor of Exxon for the International Chamber of Shipping, and other clients, was quoted in Energy Law 360 stating, "I think [the decision] will temper the wild awards that we've had in this country in punitive damages. I know our courts are criticized by other nations for cowboy justice in punitive damages and I think the decision will do away with that to a large extent."

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