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Requires CEOs and CFOs to certify their belief in the accuracy of their companies’ financial statements as well as the effectiveness of their companies’ internal controls andpunishing them criminally if they lie. The punishment is as much as a five million dollar fine and 20 years imprisonment●Addressing alteration of documents by adding two criminal provisions. The first punisheswith a penalty of up to 20 years in prison the destruction, alteration, and falsification of records in federal investigations and bankruptcy. The second requires auditors who audita reporting company to maintain all audit or review workpapers for 7 years●Mandating the US Sentencing Commission to alter sentencing guidelines to enhance punishment in cases involving obstruction of justice or abuse of a position of trust●Increasing the penalties for several existing criminal acts that are often related to securities fraud, including mail fraud, wire fraud, and ERISA violations●Making it a crime to retaliate against an informant who provided truthful information relating to the commission of any federal offense to law enforcement officersCH. 8 (Law of Torts) Why do I need to know this?-Business
-Personal experienceWhat do I need to know?-Intentional (less likely)-Employer Liability (deep pocket theory)-Negligence (most common that employers will face)-***reckless vs negligent (driving 90 mph in a 30 vs driving 35 mph in a 30)-Insurance (costly, but can save you)What is a tort?- “Any wrong excluding breaches of contract and crimes” or “any non contractual civil wrong committed upon the person or property of another”●Tort= “wrong” in FrenchIntentional Torts-Assault and battery-Defamation (libel v slander)-Injurious Falsehood-False Imprisonment (shoplifter)-Trespass-Intentional Infliction of Mental DistressIntentional Tort ThemeRequires:1.The defendant’s affirmative conduct2.Intent3.The plaintiff’s injurySome Examples:Assault and Battery1.An act2.Done with intent to cause harmful or offensive contact3.Harmful or offensive contact to the victimDefamation(libel (written) vs. slander (oral))1.Defendant made a statement as though it were a fact (rather than an opinion)2.The statement was defamatory3.The statement was false4.The statement was communicated by the defendant to at least one other person5.The plaintiff’s reputation was harmedFalse Imprisonment1.Intentionally confined or restrained the plaintiff
2.Without the plaintiff’s consent3.Without lawful authority or in an unreasonable manner4.“Injured” the plaintiffTrespass1.Affirmative conduct by the defendant2.With the intent to enter onto reality in the possession of another3.Resulting in actual entryIntentional Infliction of Mental Distress1.Intentional act2.Using extreme and outrageous conduct3.The conduct must be the cause of severe emotional distressEmployer LiabilityAn employer is uniformly held liable for the torts of employees if the employees are acting “within the scope of their employment” (doing your job) at the time of the injury