The only legitimate purpose of program-trading is in index arbitrage, which was originally its only activity.
The government had argued that there was a legitimate purpose in providing commercial concerns with general access to the register.
Any limitation to freedom of expression must be imposed as a truly exceptional measure, must be provided by law, and in the pursue of legitimate purpose and be proven as necessary and the least restrictive means possible .
It revealed "numerous instances" where Ms. Fisher received compensation where there wasn't a legitimate business purpose.
The corporate formalities were not followed and the LLC is a mere sham which serves no legitimate business purpose.
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"Yucaipa believes no legitimate corporate purpose is served by treating the Riggios more favorably than other stockholders, " Yucaipa's statement said.
It makes judges skeptical that the partnership was really set up for a legitimate business purpose, other than just saving taxes.
He held that the Texas law flunked the test for laws that substantially affect the rights of a minority, which is whether they serve a legitimate government purpose.
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Mr. SOBEL: Meaning that any odd piece of information, even if not arguably relevant to some legitimate law enforcement purpose, could find its way into this database.
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But he said there's no concrete evidence of the number of voters who are disadvantaged and without such proof, a law that's non-discriminatory on its face and has a legitimate anti-fraud purpose cannot be struck down.
Finally, the source of the unreported assets cannot be derived from illegal activity. (For this purpose, the proceeds of a tax evasion scheme from a legitimate business are not deemed to be from an illegal activity.) If all of these elements of voluntary disclosure are met, the IRS generally will not prosecute the taxpayer for the noncompliance.
The purpose of asset protection is not, repeat not, to defeat the collection rights of legitimate creditors, and certainly not things like child support or where the debtor has acted in contempt.
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