|
|
|
Supreme Court allows Stanford Ponzi scheme suits
Headline Topics |
2014/02/28 14:11
|
The Supreme Court ruled Wednesday that victims of former Texas tycoon R. Allen Stanford's massive Ponzi scheme can go forward with class-action lawsuits against the law firms, accountants and investment companies that allegedly aided the $7.2 billion fraud.
The decision is a loss for firms that claimed federal securities law insulated them from state class-action lawsuits and sought to have the cases thrown out. But it offers another avenue for more than 21,000 of Stanford's bilked investors to try to recover their lost savings.
Federal law says class-action lawsuits related to securities fraud cannot be filed under state law, as these cases were. But a federal appeals court said the cases could move forward because the main part of the fraud involved certificates of deposit, not stocks and other securities.
The high court agreed in a 7-2 decision, with the two dissenting justices warning that the ruling would lead to an explosion of state class-action lawsuits.
Stanford was sentenced to 110 years in prison after being convicted of bilking investors in a $7.2 billion scheme that involved the sale of fraudulent certificates of deposits from the Stanford International Bank. They supposedly were backed by safe investments in securities issued by governments, multinational companies and international banks, but those investments did not exist. |
|
|
|
|
|
|
Moscow court sends 7 to prison for protest rally
Headline Topics |
2014/02/24 14:31
|
A Russian court handed down prison sentences Monday of up to four years for seven people who took part in a 2012 protest against Vladimir Putin. An eighth defendant received a suspended sentence.
Hundreds of their supporters gathered outside the courthouse to condemn the trial and the Kremlin's crackdown on opposition. Police detained about 200 of them, accusing them of violating public order.
Among those detained were members of the punk band Pussy Riot who had spent nearly two years in prison as punishment for their own anti-Putin protest.
The defendants sentenced Monday were among 28 people rounded up after the May 6, 2012, protest on the eve of Putin's inauguration for a third presidential term. The rally turned violent after police restricted access to Bolotnaya Square, across the river from the Kremlin, where the protesters had permission to gather.
The eight defendants were found guilty last week, but sentencing was postponed until Monday. All have been in custody for nearly two years except for Anastasia Dukhanina, 20, who was under house arrest. She was given a suspended sentence. |
|
|
|
|
|
|
High court climate case looks at EPA's power
Headline Topics |
2014/02/24 14:30
|
Industry groups and Republican-led states are heading an attack at the Supreme Court against the Obama administration's sole means of trying to limit power-plant and factory emissions of gases blamed for global warming.
As President Barack Obama pledges to act on environmental and other matters when Congress doesn't, or won't, opponents of regulating carbon dioxide and other heat-trapping gases cast the rule as a power grab of historic proportions.
The court is hearing arguments Monday about a small but important piece of the Environmental Protection Agency's plans to cut the emissions — a requirement that companies expanding industrial facilities or building new ones that would increase overall pollution must also evaluate ways to reduce the carbon they release.
Environmental groups and even some of their opponents say that whatever the court decides, EPA still will be able to move forward with broader plans to set emission standards for greenhouse gases for new and existing power plants.
|
|
|
|
|
|
|
Gov. Snyder signs jury duty, trampoline court laws
Headline Court News |
2014/02/20 14:08
|
Michigan Gov. Rick Snyder has signed a law letting full-time college students postpone jury duty until the end of the school year.
The governor on Tuesday also approved rules for indoor trampoline parks where adults and kids can bounce around for a fee.
Snyder says jury duty is "an important part of our civil responsibility" but can be disruptive to college students' studies. A similar exemption already exists for high school students.
The other law requires trampoline courts to publicly display rules and inform customers of the activity's inherent dangers. Trampoliners also must adhere to rules specified in the law.
A trampoline user, spectator or operator who violates the law is liable for damages in civil lawsuits. |
|
|
|
|
|
|
Argentina asks top US Court to stop 'catastrophe'
Headline Topics |
2014/02/20 14:07
|
Argentina filed a long-shot appeal to the U.S. Supreme Court on Tuesday asking the justices in Washington to avert an "economic catastrophe" by overturning lower court rulings that could force the South American government to default on billions of dollars in debts.
Making Argentina pay cash in full to investors who didn't accept bond swaps in exchange for defaulted debt could destabilize the global economy by making other voluntary debt restructurings "substantially more difficult, if not impossible," the petition said.
"Full payment of the holdouts would cut Argentina's reserves approximately in half, an unimaginable result for any nation," Argentina's lawyers argued. "Any sovereign would protest if a foreign court issued an extraterritorial order threatening its creditors and citizens and coercing it into turning over billions of dollars from its immune reserves."
By ignoring the federal sovereign immunity law that normally protects other countries' assets from seizure outside the United States, the lower court decisions also could make U.S. assets overseas vulnerable to similar seizures by other governments, the petition said. |
|
|
|
|
|
|
Court revives transgender widow's legal fight
Headline Topics |
2014/02/17 16:12
|
A Texas appeals court on Thursday overturned a judge's ruling that had voided the marriage of a transgender widow whose firefighter husband died battling a blaze.
The 13th Texas Court of Appeals sent the case of Nikki Araguz back to the lower court, saying "there is a genuine issue of material fact regarding sex and whether the marriage was a same sex marriage."
In 2011, state District Judge Randy Clapp in Wharton County ruled that the marriage between Nikki Araguz and her husband Thomas Araguz was "void as a matter of law."
Thomas Araguz's mother and his first wife had challenged the marriage's validity, arguing the fallen firefighter's estate should go to his two sons because Nikki Araguz was born a man and Texas does not recognize same-sex marriage.
Nikki Araguz, 38, had argued in court she had done everything medically and legally possible to show she is female and was legally married under Texas law and that she's entitled to widow's benefits.
Kent Rutter, Nikki Araguz's attorney, said his client was very pleased by Thursday's ruling.
"This decision recognizes that transgender Texans have the right to marry the person that they love," he said.
Attorneys for Simona Longoria, Thomas Araguz's mother, and Heather Delgado, his ex-wife, did not immediately return phone calls seeking comment. |
|
|
|
|
|
|
Court tosses California's concealed-weapons rules
Network News |
2014/02/17 16:12
|
A divided federal appeals court on Thursday struck down California concealed-weapons rules, saying they violate the Second Amendment right to bear arms.
The 2-1 ruling of a three-judge panel of the 9th U.S. Circuit Court of Appeals said California counties were wrong to require law-abiding applicants to show "good cause" beyond self-defense to receive a concealed-weapons permit.
California prohibits people from carrying handguns in public without a concealed-weapons permit. State law requires applicants to show good moral character, have good cause and take a training course. It's generally up to the state's sheriffs and police chiefs to issue the permits, and the vast majority require an applicant to demonstrate a real danger or other reasons beyond simple self-defense to receive a permit. The 9th Circuit on Thursday said that requirement violates the 2nd Amendment.
The San Francisco-based appeals court said those requirements were too strict and ran afoul of a 5-4 landmark U.S. Supreme Court ruling in 2008 that struck down a Washington, D.C., handgun ban and said law-abiding citizens are allowed to have handguns in their home for self-defense. |
|
|
|
|
|
Legal News RSS Feed
