The trading losses may be mostly over, but with the disclosure that traders may have lied about their losses, regulatory and legal consequences will linger for some time.
Russell Wasendorf Sr., whose recent suicide attempt at company headquarters preceded the brokerage's bankruptcy, confessed to a "constant and intense guilt."
The postmortems on the winners and losers of the U.S. Supreme Court's 2011-12 term have been served up and deconstructed. But how did the attorneys do?
EMPLOYMENT – Ramos v. Baldor Specialty Foods Inc.
OPINION – A group of warehouse “captains” supervised “customarily recognized departments or subdivisions” and thus qualify as executives exempt from the overtime pay requirements of the under the Fair Labor Standards Act even though their teams are functionally identical to other units, the 2nd Circuit has ruled. (2d Cir.)
CONTRACTS – Tenor Opportunity Master Fund Ltd. v. Oxygen Biotherepeutics Inc.
OPINION – Tenor had a contract with Oxygen giving it rights to future offerings by Oxygen. Oxygen made a $4.6 million offering to a third party that Tenor claimed should have been offered to it. Oxygen argued that Tenor got an equivalent offering, and that Tenor is equitably estopped from its claim, but the court disagreed. A jury will determine damages. (S.D.N.Y.)
PRODUCTS LIABILITY – Rosa v. Taser Int’l Inc.
OPINION – The 9th Circuit has ruled that Taser International Inc. had no duty to warn that repeated jolts from its stun guns could produce fatal levels of metabolic acidosis because such risk was not known or knowable prior to the distribution of the weapons. (9th Cir.)
INSURANCE – Sawyer v. West Bend Mut. Ins. Co.
OPINION – An insurer has a duty under a policy provision covering “personal and advertising injury” to defend a heating and air conditioning company against a class action lawsuit accusing it of sending unsolicited, “junk” faxes, a Wisconsin appeals court has ruled. (Wis. Ct. App.)
EMPLOYMENT – Doe v. Salvation Army in U.S.
OPINION – The Salvation Army has lost its bid to dismiss an employment discrimination lawsuit based on its contention that it is immune as a religious organization and thus not “principally engaged” in providing social services. (6th Cir.)
For a while, Patriot Coal was a darling of Wall Street. But like most of its peers, the company was rocked when the economy went into a tailspin.
A three-judge panel said the decision to move Eugene Carl Hathaway into solitary confinement violated his constitutional rights.
The preliminary injunction issued by Justice Jeffrey Oing was a win for Macy's, which has sued Martha Stewart Living claiming it has exclusive rights to sell certain products.
11th Circuit judges said in a one-sentence decision that Jefferson County creditors can appeal a ruling that stripped receiver John Young of authority.
MERS, as the database is called, was accused of deceptive practices leading to alleged improper home foreclosures.
The blogosphere goes batty over YLS’s announcement it is launching a doctorate program, but Dean Robert Post says he’s used to it.
A Philippine immigrant filed a lawsuit seeking a legal right to stay in the U.S. based on her same-sex marriage to an American.
Lawyers say former President George W. Bush is among some 1.5 million Texas citizens whose names are listed in the study as failing to meet the eligibility requirements of the law.
The FBI has opened a criminal investigation into ZTE Corp's sale of banned U.S. computer equipment to Iran.
Emails from Dewey's general counsel listing amounts ranging from $25,000 to $3 million began arriving in former partners' in-boxes starting July 11.
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Was Dewey insolvent back in January 2011? read more »
Judge bars new complaint in GE securities megacase for 'bad faith' read more »
AIG fights to keep internal reports on high-risk deals under wraps read more »
Pendulum still swinging on consumer arbitration clauses
Did the Supreme Court deliver a Pyrrhic victory to Arizona?
Is deregulation to blame for the financial crisis?
Law School Litigation Update: Kurzon LLP Sues Cooley Law School for Defamation
What Dewey Do With Thousands of Boxes of Client Files?
This interactive graphic from Reuters and Westlaw provides summaries of each case before the Court, information about the lawyers and other key players, and links to legal briefs and headlines.
While their ancestral back stories don’t necessarily shed light on whether the justices will uphold Arizona’s tough immigration law, the members’ roots are clearly a point of pride. Here’s how the justices came to America.
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