The bank and two other lenders will try to show that the New York state insurance department acted unreasonably in approving the bond insurer's plan.
SETTLEMENTS - U.S. S.E.C. v. Citigroup Global Mkts Inc.
ORDER - The District Court rejected the S.E.C.’s proposed settlement with Citigroup charged with negligent misrepresentation regarding collateralized debt obligations, for reasons including lack of admission of liability and collateral estoppel effect; Court’s order to proceed to trial was stayed by Second Circuit. (2d Cir.)
FRAUD VICTIM IMPACT - U.S. v. Marsh
ORDER - In sentencing hearing, victim impact statements showed defendants “trading” operation a complete fraud, and defendants inventing persona and backgrounds, and bragging about cheating their clients; victims suffered severe financial, marital and health problems. (E.D.N.Y.)
New York Decision Roundup - April 20, 2012
This daily roundup provides links to summaries of the latest New York state and federal court decisions.
The 950-lawyer firm, one of the biggest in the United States, has lost some 70 partners since the start of the year as it negotiates with creditors.
The mayor of a New York village did not defame a man by accusing him during a public debate of trying to "extort money" with a lawsuit, a state appeals court ruled.
Hedge fund manager Brian Kim was sentenced in New York state court to up to 15 years in prison, a month after pleading guilty to running a $6 million Ponzi scheme.
The measure would create a private right of action for individuals who claim they have been targeted by police because of their race or ethnicity.
An appeals court sanctioned a New York attorney Joseph Sahid for "frivolous, outrageous, and unprofessional behavior" during a deposition.
A lawsuit filed in Manhattan federal court accused officials of failing to address widespread problems of sexual assault at the elite schools.
The complaint filed in Manhattan federal court accuses directors of breaching their fiduciary duties by awarding more than $54 million of compensation to Vikram Pandit and other execs.
Senators passed legislation that would give judges more leeway to consider the safety of the alleged victims and their families.
A savings bank must face a lawsuit over whether it can charge fees to reactivate expired gift cards, the Second Department ruled.
A retired chemistry professor who distributed pamphlets about jury nullification outside a federal courthouse did not illegally attempt to influence jurors, a U.S. judge Kimba Wood ruled.
British lawyer Mark Lewis teamed up with two New York attorneys to pursue claims that four of his clients had been hacked by Rupert Murdoch's now-defunct tabloid on U.S. soil.
The mobile service provider failed to bill customers for more than $100 mln in taxes over seven years, according to state A.G. Eric Schneiderman.
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