Now that Dodd-Frank (pdf) is law, and regulators have either gotten or are getting their marching orders, what do corporations need to pay attention to?
That was the subject on the table — or around it, actually — at a Manhattan restaurant on Wednesday afternoon. It was too small to be called a conference: just four guys and several of us reporter types talking about the issues over lunch. But it helped that one of the guys was David Shonka, principal deputy general counsel at the Federal Trade Commission. The other guest "panelists" were John Davis, a partner at Pillsbury Winthrop Shaw Pittman LLP, and Mark Racanelli, a partner at O'Melveny & Myers.
It wasn't surprising that a good deal of talk touched on e-discovery, considering that the event was set up by Recommind, a San Francisco-based software company heavily involved in that business. But the conversation covered a lot of ground, and it never slipped into an advertisement. That probably had something to do with the moderator, Craig Carpenter, who is not only the company's vice president of marketing, he was once an outside litigator.
Even before the session was called to order, Carpenter and Davis were chatting about federal Magistrate Judge Paul Grimm's Sept. 9 decision in a Maryland district court case called Victor Stanley, Inc. v. Creative Pipe, Inc. It's an e-discovery case that's likely to be talked about for some time to come.
Grimm found that Creative Pipe's president, Mark Pappas, had engaged in a pattern of spoliation that constituted contempt of court. The judge not only granted the plaintiffs a default judgment, he ordered Pappas to pay the plaintiffs' attorney fees and costs — or go straight to prison.
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Source: law.com
By: David Hechler
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