The Democratic Congressman said federal and state officials should reconsider holding financial firms liable for the wrongdoing of institutions they absorbed at the government's urging.
The government says it will appeal the ruling as the plan improperly provided $341 mln in tax breaks to Argonaut Private Equity and Madrone Capital Partners.
A new lawsuit accused the world's largest retailer and two staffing agencies of requiring temporary employees to show up early for work, stay late and work through lunch.
PATENT – Two Moms and a Toy LLC v. Int’l Playthings LLC
OPINION – Plaintiff filed a declaration from the patent’s co-inventor as a lay witness under Evidence Rule 701. Defendant argued the declaration contained opinions based on technical knowledge. The declarant may not have deep experience in the field, but she knows more than the average person about this type of invention. The declaration is inadmissible. (D. Colo.)
DEFAMATION – Joyce McKinney v. Errol Morris
BRIEF – McKinney was involved in the “Manacled Mormon” tabloid scandal in the U.K. in the 1970s. She argues that Morris tricked her into doing an interview for a film that was ultimately defamatory towards her. McKinney also argues that she is not a public figure, nor is the until-recently forgotten tabloid story of “public interest.” (Cal.Ct. App., 2nd Dist.)
LEGAL MALPRACTICE – Tippi Hedren v. Allen
BRIEF – After Tippi Hedren was injured on a soundstage, her attorney admitted he was negligent in dismissing her personal injury case. But he argues that the jury award of nearly $1,500,000 was excessive, due to improper jury instructions on causation, erroneous rulings on the evidence of damages, and a purely emotional appeal to the jury. (Cal.Ct. App., 4th Dist.)
CIVIL PROCEDURE – Cont’l Credit Sys. LLC v. Applied Merchant Sys. W. Coast Inc.
OPINION – The parties disagreed over ownership of card-swiping hardware involved in the sale of credit card agreements. Defendant argued that a forum selection clause was triggered, but plaintiff argued this was a tort case that did not touch the contract. But since interpreting the contract will be central to the case, the contract’s forum selection clause is triggered. (N.D. Ill.)
TRUSTS AND ESTATES - Hebrew Univ. of Jerusalem v. Gen'l Motors
OPINION - Where Hebrew University claimed unlimited duration in right of publicity per Albert Einstein’s will, extension more than 50 years past his death burdened the public’s freedom of expression. Whereas copyright is designed to encourage the future creation of works of art, the interest sought to be protected by the right of publicity is usually the byproduct of a different and earlier endeavor. (C.D. Cal.)
Fannie Mae employees may pursue much of their lawsuit to recover losses on company stock that remained in their retirement plan even as the mortgage financier hurtled toward near collapse.
The $205 million dispute between Conoco and the trustee is over letters of credit that the oil company had lodged with the now bankrupt brokerage to back its energy trades.
The U.S. Patent and Trademark Office denied Jay-Z and wife Beyonce Knowles a trademark for “Blue Ivy.”
The state's top judge, Chief Justice Stuart Rabner, has formed a committee to review New York's mandate, which requires 50 hours of pro bono work before being admitted to the state bar.
Mandated by the 2010 Dodd-Frank law, this marks the latest effort to finalize regulations for the $640 trillion dollar over-the-counter derivatives market.
The Food and Drug Administration said the agency had received reports of five deaths that may be associated with the drink from 2009 through June 2012.
The former chairman and chief executive officer of MF Global has described charges that the company inflating its ability to manage risk as making "no sense."
Manhattan U.S. Attorney Preet Bharara's office said in a statement that it is broadening the investigation to include retirees from any city agency.
FINRA said the amount will be paid to customers who bought into a $2 bln real estate investment trust and to those who were charged excessive markups.
The ex-U.S. Attorney joins as part of a recent surge in the firm's efforts to hire top government lawyers and partners from competitor firms.
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