TAX STATUS AND POLITICAL ACTIVITY UPDATE. Holland & Knight. “Earlier this year, while Washington was fixated on former Internal Revenue Service (IRS) employee Lois Lerner and her missing emails, her former employer quietly denied the application for exemption of an organization seeking exemption under Section 501(c)(4) for engaging in too much political activity.”
CU TENSION. HLS Forum on Corporate Governance and Financial Regulation. “Citizens United thus undercuts conservative corporate theory’s reliance upon regulation as an answer to corporate externality risk, and strengthens the argument of its rival theory that corporate managers must consider the best interests of employees, consumers, communities, the environment, and society—and not just stockholders—when making business decisions.”
MS: CHALLENGE TO BE HEARD. IJ.org. The “5th U.S. Circuit Court of Appeals in New Orleans will hear arguments in a challenge to Mississippi’s campaign finance requirements that place substantial burdens on average citizens who want to speak about ballot issues.”
VA: NO VERDICT YET. WP. “Jurors opened deliberations in the federal corruption trial of former Virginia governor Robert F. McDonnell and his wife, Maureen on Tuesday, spending five-and-a-half hours discussing the case without settling on a verdict.”
TX: WHITEMIRE DRAWS PERRY-LIKE COMPLAINT. Chron.com. “A conservative group has filed a criminal complaint against state Sen. John Whitmire, accusing him of coercion in an exchange of text messages with University of Houston President Renu Khator that was published in the Houston Chronicle.”
HAVE A GOOD DAY.