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Yahoo shares dive after Microsoft abandons bid
Venture Business News |
2008/05/05 09:21
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Yahoo shares plummeted Monday as the Internet giant's future became clouded after Microsoft walked away from a bid rather than pursue a hostile takeover. Shares in the Silicon Valley group sank more than 16 percent in late morning trade, while Microsoft saw a rally of more than two percent. On Saturday, Microsoft yanked its proposal, saying the struggling Internet pioneer refused to budge despite the software giant upping its offer to nearly 50 billion dollars. Talks aimed at resolving corporate dueling that began with Microsoft's offer on February 1 to buy Yahoo for 31 dollars per share ended with the two firms unable to close a multibillion-dollar gap in price expectations. Jeffrey Ham, analyst at Briefing.com, said Yahoo shares were under pressure "as confounded investors try to assess the company's muddled future." Ham added: "Without a merger or distinct strategic alternatives, Yahoo will most likely continue to lag a more innovative and faster growing Google." Yahoo chief executive Jerry Yang said the company can move forward without the distraction of a takeover bid. "With Microsoft's withdrawal, we'll be better able to focus our energy on growing our industry leadership and maximizing value for stockholders," Yang said in a blog on Yahoo's website. |
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Fl. court to hear arguments in anthrax death lawsuit
Breaking Legal News |
2008/05/05 09:19
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The Florida Supreme Court is taking up key issues in a lawsuit over the anthrax death of a photo editor for a supermarket tabloid publisher. Robert Stevens died Oct. 5, 2001 after being exposed to the deadly substance. It was in an envelope mailed to the offices of American Media Inc., which publishes the National Enquirer, Sun and Globe newspapers. His wife sued the federal government and a private laboratory, claiming they both had a duty to protect the public from anthrax. The court is hearing arguments on Monday in the case. |
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Ga. parole board holds hearing for convicted killer
Law Center |
2008/05/05 06:20
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A clemency hearing is under way for a convicted Georgia killer whose execution would be the first since the U.S. Supreme Court found lethal injection constitutional. The Georgia Board of Pardons and Paroles convened Monday to hear the case of William Earl Lynd, who is scheduled to die Tuesday for fatally shooting his live-in girlfriend, Ginger Moore, two days before Christmas in 1988. Lynd's attorney, Tom Dunn, is seeking a 90-day stay of execution as well as a commutation of his sentence. The U.S. Supreme Court in April upheld Kentucky's lethal injection protocol, clearing the way for executions to resume in the roughly three dozen states that use that method. |
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Man asks court to change his name to 'In God We Trust'
Breaking Legal News |
2008/05/05 03:19
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Steve Kreuscher wants a judge to allow him to legally change his name. He wants to be known as "In God We Trust." Kreuscher (CROY'-shir) says the new name would symbolize the help God gave him through tough times. The 57-year-old man also told the (Arlington Heights) Daily Herald he's worried that atheists may succeed in removing the phrase "In God We Trust" from U.S. currency. He recalls that the phrase "God Reigns" was removed from the Zion city seal in 1992 after courts deemed it unconstitutional. Zion was founded as a theocracy — by a sect that believed the Earth was flat. The school bus driver and amateur artist in the northern Chicago suburb says he has filed a petition to change his name in Lake County Circuit Court. |
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Former expert witness for Milberg pleads guilty
Legal Business |
2008/05/02 08:36
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A former expert witness for indicted class action law firm Milberg LLP and other firms pleaded guilty on Thursday in Philadelphia to lying to judges about secret payments he got from the firms, prosecutors said. John Torkelsen, 62, provided evidence for plaintiffs about damages and settlement values in hundreds of class action and shareholder derivative lawsuits through his two companies, Princeton Venture Research Inc and Equity Valuation Advisors Inc. between 1985 and 2003. Torkelsen, who is in federal custody awaiting sentencing on an unrelated case, pleaded guilty to one count of perjury in connection with a 1999 declaration to a San Jose federal court, according to U.S. prosecutors in Philadelphia. He faces up to five years in prison on the charge, and is set to be sentenced on Aug. 5. An attorney for Torkelsen was not immediately available for comment. Prosecutors said the law firms told courts and class members that Torkelsen was being paid as an independent expert but secretly paid him a share of the proceeds of the cases. |
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Calif. Judge Pays Software Mogul $100000
Venture Business News |
2008/05/02 08:33
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In an unusual act of contrition, a state court judge has publicly apologized and agreed to pay $100,000 to Silicon Valley billionaire Tom Siebel for besmirching him in a lawsuit she filed as an attorney more than a decade ago. "I write to express my sincere regret for pursuing claims against you that were determined to be without merit," San Mateo Superior Court Judge Carol Mittlesteadt wrote in an apology to Siebel that was released Thursday. Mittlesteadt, who was appointed to the bench in 1998, also acknowledged her actions "may have caused substantial expense and inconvenience, and damage to (Siebel's) reputation and good name." The apology was part of a settlement that ends a 12-year legal odyssey that began after business software maker Siebel Systems Inc. fired its top sales representative, Debra Christoffers. Representing Christoffers, Mittlesteadt filed a wrongful termination and sex discrimination lawsuit against Siebel as well as the company. A court ruled the charges against Siebel were unfounded. Siebel, who is worth an estimated $1.9 billion, hopes the judge's public penitence teaches lawyers not to fabricate claims against wealthy individuals or large companies in hopes of extracting a large settlement. He said in an interview that he's surprised Mittlesteadt is a judge. |
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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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