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U.S. Sugar settles class action
Press Release |
2009/10/05 15:33
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U.S. Sugar Corp. said Friday it has agreed to settle a class action lawsuit brought by shareholders and members of its Employee Stock Ownership Plan for an $8.4 million payment to members of the settlement class.
An additional payment of $7.5 million, less plaintiffs' attorneys’ fees, will be made if U.S. Sugar closes its pending land sale with the South Florida Water Management District, according to a news release.
The company said the settlement was filed with the U.S. District Court, Southern District of Florida.
Upon approval by the court, all actions against all defendants will be dismissed with prejudice, which means that the court ruling is final and the claims cannot be refiled.
This settlement was reached without any party admitting any liability.
All of the defendants in this case have denied and continue to deny any wrongdoing, and indeed, most of the claims have already been dismissed by the court, said Robert Coker, U.S. Sugar’s senior vice president of public affairs.
In the settlement, U.S. Sugar said it entered into the settlement solely to avoid the cost, disruption and uncertainty of continued litigation.
a href=http://southflorida.bizjournals.com/southflorida/stories/2009/09/28/daily82.htmlRead more.../a |
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Court won't review Fla. Pledge of Allegiance law
Topics |
2009/10/05 14:30
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| pThe Supreme Court has rejected an appeal to review a Florida law that requires public school students to recite the Pledge of Allegiance each day unless they have their parents' written permission excusing them./ppThe justices declined Monday an appeal filed by the American Civil Liberties Union of Florida on behalf of a high school student removed from his math class because he remained seated during the pledge./ppA federal appeals court upheld most of the law. The ACLU said that ruling, if left undisturbed, would undermine the Supreme Court's 1943 ruling that schoolchildren could not be forced to salute the flag and say the pledge./ppFlorida argued that the law, by giving parents the right to have their children excused, does not violate the First Amendment./p |
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Conn. bishop says abuse is in church's past
Headline Topics |
2009/10/05 14:29
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| pThe Supreme Court refused on Monday to block the release of documents generated by lawsuits against priests in Connecticut for alleged sexual abuse./ppThe justices turned down a request by the Roman Catholic diocese in Bridgeport, Conn./ppSeveral newspapers are seeking the release of more than 12,000 pages from 23 lawsuits against six priests./ppThe records have been under seal since the diocese settled the cases in 2001. Courts in Connecticut have ruled that the papers should be made public./ppThe decision ends a legal battle that dragged on for years and could shed light on how recently retired New York Cardinal Edward Egan handled the allegations when he was Bridgeport bishop./ppIt's unclear when the documents will be released./ppWaterbury Superior Court clerk Philip Groth said he needs to consult a judge to determine whether a hearing is necessary before the records are released. He said Monday morning it was unlikely the documents would be released Monday./ppThe Bridgeport diocese, which had argued unsuccessfully that the documents were subject to religious privileges under the First Amendment, said it was disappointed in the decision./p |
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Madoff trustee sues Madoff family for almost $200M
Topics |
2009/10/02 15:46
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| pPresident BaracBernard Madoff's brother, sons and a niece used the family finance business like a piggy bank, a court-appointed trustee charged Friday as he demanded in a lawsuit that they return almost $200 million in money to be distributed to cheated investors./ppThe trustee, Irving Picard, sought $198.7 million from Madoff's brother, Peter, who had worked at Madoff's Manhattan investment company since 1965, and sons, Mark and Andrew./ppAlso sued was Shana D. Madoff, Bernard Madoff's niece and Peter Madoff's daughter./ppLawyers for the Madoff's brother and sons did not immediately return a phone call for comment. A message for comment left at Shana Madoff's East Hampton home was not immediately returned./ppLawyers for Picard said in papers filed in U.S. Bankruptcy Court in Manhattan that Madoff's family-run business was operated as if it were the family piggy bank./ppThey said each of the family members withdrew huge sums of money to fund personal business ventures and to pay for expenses ranging from multimillion dollar homes, cars and boats to monthly credit card charges for restaurants, vacations and clothing./ppThe lawyers said $141 million identified as fraudulent proceeds were received by the family members in the six years before Madoff surrendered and revealed his plot last December while at least $58 million was received in the last two years./p |
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