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NY jury convicts 3 in NYC hedge fund trial
Court Watch |
2011/06/13 10:16
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The second trial to result from a massive investigation into insider trading at hedge funds ended Monday with the conviction of a trio of Wall Street traders on charges they paid hefty bribes to coax confidential information out of shady lawyers.
A jury reached the verdict against stock trader Zvi Goffer and two others in federal court in Manhattan after deliberating five days since June 2. It came a month after the conviction of Raj Rajaratnam, the one-time billionaire who founded the Galleon Group of hedge funds and who was once Goffer's boss.
Goffer, his brother Emanuel and Michael Kimelman were convicted of conspiracy to break securities laws. The men were permitted to remain free on bail pending sentencing, set for the fall.
The defendants, who had insisted they based trades only on public information, remained calm during the verdict. Zvi Goffer's wife and mother left the courtroom in tears.
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Court orders reconsideration of parole judgment
Criminal Law |
2011/06/13 10:16
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The Supreme Court has ordered a lower court to reconsider its decision to release a criminal on parole.
The high court threw out a lower court decision ordering John Pirtle and other prisoners released from prison on parole.
Pirtle was convicted of killing his wife, and the parole board started denying him parole in 2002. Pirtle sued in federal court, saying his parole was denied without any proof that he posed a danger if he got out.
The lower courts agreed with him and ordered him and other prisoners in similar situations released on parole.
The high court threw out that decision in a summary judgment and ordered the 9th U.S. Circuit Court of Appeals in San Francisco to reconsider it.
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Texas teachers may get student criminal histories
Biotech |
2011/06/12 19:15
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Texas is close to enacting a law that would provide teachers with detailed information about the criminal histories of their students, opening juvenile files that have always been confidential and are unavailable in most states.
The legislation, spurred by the fatal stabbing of a high school teacher in Tyler in 2009, is adding to a national debate over whether teacher safety should outweigh the rights of young offenders, who traditionally have moved through the juvenile justice system with their privacy protected.
The new disclosure rules were passed by legislators with little public attention last month. A spokeswoman for Gov. Rick Perry said the governor is "thoughtfully" reviewing the measure before deciding whether to sign it.
Many juvenile justice experts oppose the new disclosures, saying that they would undercut the purpose of youth corrections — allowing young people to move beyond early mistakes to lead normal lives. But many educators insist that teachers are in too much danger.
"The bottom line is protecting teachers," said Rep. Jerry Madden, a Republican from the Dallas suburb of Plano, who sponsored the legislation.
Texas law already gives schools more background information on students than most states permit. The new law would significantly expand the details released, including accounts of crimes committed. |
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Pa. appeals court upholds $188M Wal-Mart verdict
Class Action |
2011/06/10 23:47
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A $188 million class-action verdict against Wal-Mart Stores Inc. and Sam's Club over payment to employees for rest breaks and off-the-clock work was upheld Friday by a Pennsylvania appeals court.
A three-judge Superior Court panel said there was sufficient evidence at trial to conclude there had been a breach of contract, unjust enrichment and violations of state labor laws.
The judges also ruled in a 211-page opinion that the presiding Philadelphia judge erred in determining some of the plaintiffs' legal fees, and sent that part of the case back for recalculation.
The 2006 trial, which lasted 32 days, resulted in a finding that Wal-Mart did not pay employees for all the work they performed and did not let them take their paid, mandatory rest breaks, the judges wrote. The court awarded $46 million in attorneys' fees.
Wal-Mart spokesman Greg Rossiter said the retail giant believes the court decision was wrong in a number of respects and looks forward to additional review in the courts.
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Toyota class action suit to start with Utah case
Court Watch |
2011/06/10 23:46
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The first lawsuit to go to trial in a massive class action against Toyota Motor Corp. over acceleration problems that led the company to recall 14 million cars will involve a crash that killed two people in western Utah, a federal judge said Friday.
U.S. District Judge James Selna told attorneys the case of 38-year-old Charlene Jones Lloyd and 66-year-old Paul Van Alfen, whose Toyota Camry slammed into a wall in Utah in 2010, is scheduled to go to trial in February 2013.
The case — Van Alfen v. Toyota Motor Sales, U.S.A., Inc. — will be the first of several bellwether lawsuits, intended to determine how the rest of the litigation will proceed.
Selna wrote in a tentative order that he hoped the selection would "markedly advance these proceedings."
"The Court believes that selection of a personal injury/wrongful death case is most likely the type of case to meet that goal," Selna said.
Toyota said it welcomes the Utah case as the first suit to reach court.
"We are pleased that the initial bellwether will address plaintiffs' central allegation of an unnamed, unproven defect in Toyota vehicles, as every claim in the multi-district litigation rests upon this pivotal technical issue," the company said in a statement.
Toyota has previously argued the plaintiffs have been unable to prove that a design defect in its electronic throttle control system is responsible for vehicles surging unexpectedly. It has instead blamed driver error, faulty floor mats and sticky accelerator pedals.
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Ohio judge says Ford must pay dealers $2B
Class Action |
2011/06/10 23:46
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Ford Motor Co. must pay nearly $2 billion in damages to thousands of dealerships in a 2002 class-action lawsuit that said the automaker violated dealer agreements, an Ohio judge ruled Friday.
Cuyahoga County Common Pleas Judge Peter Corrigan in Cleveland issued the ruling based on a Feb. 11 jury determination that the company overcharged dealers for commercial trucks over an 11-year period.
The $2 billion award covers more than 3,000 dealerships and about 474,000 trucks. It includes a judgment of about $781 million and about $1.2 billion in interest.
"In awarding the dealers the amount of money they overpaid for trucks, the jury verdict places ... the dealers in the financial position contemplated by the terms of the contract," said James Lowe, a Cleveland attorney for Westgate Ford Truck Sales Inc., a dealership in Youngstown that represents the class.
Ford's annual report, filed on Feb. 28, says the class action included all dealers who purchased a 600?series or higher truck from Ford from 1987 to 1997. It says the lawsuit accused the automaker of failing to reveal that price concessions were given to some dealers.
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Court says Halliburton lawsuit can go forward
Court Watch |
2011/06/10 19:20
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The Supreme Court ruled Monday that Halliburton Co. shareholders can pursue a class-action lawsuit claiming the oil services company inflated its stock price.
The high court overturned a lower court ruling against the shareholders, who want to represent all investors who bought Halliburton stock between June 1999 and December 2001.
The lawsuit argues that Halliburton deliberately understated the company's liability in asbestos litigation, inflated how much money its construction and engineering units would bring in and overstated the benefits of a merger with Dresser Industries. When Halliburton made corrective disclosures, it made the stock price drop and caused investors to lose money, the lawsuit said.
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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