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High court to review fine for mercury storage
Headline Court News |
2011/11/28 09:42
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The Supreme Court will consider throwing out an $18 million penalty against Texas-based Southern Union Co. for illegally storing mercury at a rundown building in Rhode Island.
The justices said Monday they will hear the natural gas company's appeal of the criminal penalty that was imposed by a federal judge and upheld by an appeals court.
What makes the case unusual is that the company is challenging the size of the penalty under a line of Supreme Court cases concerning prison sentences.
Southern Union had used the building in Pawtucket to store outdated mercury-sealed gas regulators that it removed from customers' homes. The mercury was initially removed and shipped to a recycling center. But when that work stopped, the regulators and loose mercury were left to accumulate inside the building. |
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Texas AG blasts court's redistricting maps
Headline Court News |
2011/11/21 09:31
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Texas' attorney general sharply criticized a federal court Friday over its proposed maps for state House and Senate districts in the 2012 election, saying the judges overstepped their bounds.
The San Antonio-based federal court released the proposed redistricting maps late Thursday and gave those involved in the case until noon Friday to comment. Minority groups have filed a legal challenge to the Republican-drawn maps, saying they are discriminatory. The court's maps are intended to be an interim solution until the case is resolved after the 2012 elections.
Maps for the House and Senate released Thursday restore many of the minority districts — where Democrats hold the seats — to their previous shapes. Republican lawmakers have denied their maps were intended to minimize minority representation, and say they merely reflect the GOP majority in Texas. |
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Russia court rejects $16 billion claim against BP
Headline Court News |
2011/11/14 11:26
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A Russian court on Friday rejected a $16 billion claim against BP PLC filed by an obscure minority shareholder in BP's Russian venture, TNK-BP.
The court victory may have softened the blow that BP sustained when Rosneft dropped it as a partner in developing Russia's untapped Arctic oil and gas riches. The multibillion dollar deal broke down after TNK-BP's Russian billionaire shareholders blocked it, claiming that BP should be pursuing it through TNK-BP.
The Arbitration Court in the Tyumen region in Siberia on Friday dismissed two motions filed by a group of minority shareholders led by Andrei Prokhorov, who owns 0.0000106 percent in TNK-BP. The lawsuits are a $13 billion claim against BP and a $2.8 billion suit against two BP-nominated directors on TNK-BP's board.
Prokhorov and other shareholders claimed that BP and its representatives damaged TNK-BP's interests by failing to include the Russian venture in the Arctic deal with Rosneft.
BP's Russian partners in TNK-BP have denied any connection to the minority shareholder's suit. The claim was the reason why Russian police raided BP's office in August, which happened just days after Rosneft teamed up with ExxonMobil to develop the Arctic. |
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Scott+Scott LLP Announces Securities Class Action Lawsuit
Headline Court News |
2011/11/14 11:25
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Scott+Scott LLP filed a class action complaint against Human Genome Sciences, Inc., certain of the Company's senior officers and directors and GlaxoSmithKline plc in the U.S. District Court for the District of Maryland. The action for violations of the Securities Exchange Act of 1934 is brought on behalf of those purchasing the common stock of HGSI between July 20, 2009 and November 11, 2010, inclusive (the Class Period), including all persons who acquired the common stock of HGSI in the Company's July 28, 2009 public offering at $14 per share and in its December 2, 2009 public offering of common stock at $26.75.
If you purchased the common stock of HGSI during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than 60 days from today. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com), (800) 404-7770, (860) 537-5537 or visit the Scott+Scott HGSI Pharmaceutical website for more information: www.scott-scott.com/cases/hgs.html. There is no cost or fee to you.
The complaint filed in the action alleges that, during the Class Period, HGSI issued false and misleading statements concerning Benlysta(R) (belimumab) (Benlysta), the Company's potential new drug for the treatment of Systemic Lupus Erythematosus, a chronic, life-threatening autoimmune disease. Specifically, the complaint alleges that defendants failed to disclose that Benlysta was associated with suicide in clinical drug trials conducted by the Company.
The complaint alleges that when the U.S. Food and Drug Administration posted its analysis of Benlysta on the Internet on November 12, 2010, investors learned for the first time of the association between Benlysta and suicide in clinical trials of the drug, causing HGSI's common stock price to decline precipitously. Meanwhile, the complaint alleges, during the Class Period, HGSI sold to investors more than 44 million shares of its common stock in public offerings at artificially inflated prices, receiving $850 million in net proceeds.
Scott+Scott has significant experience in prosecuting major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities worldwide. |
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Judge rejects appeal by Abramoff's former partner
Headline Court News |
2011/11/13 11:26
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Ex-lobbyist Jack Abramoff's former partner in crime shouldn't expect relief on his appeal to reduce a $20 million restitution order.
The chief of the federal appeals court in Washington, Judge David Sentelle, told Michael Scanlon's lawyer at arguments Monday the court cannot change his client's plea agreement. The court will issue its final order in writing.
Scanlon is serving a 20-month sentence for bilking Indian tribes of millions. Abramoff persuaded the tribes that hired him for lobbying to pay inflated fees for Scanlon's public relations services, and they secretly split the profits.
Scanlon pleaded guilty in part to defrauding the tribal clients of their right to honest services. The Supreme Court weakened the honest services law last year and Scanlon argues the restitution should be lowered to reflect that ruling. |
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Corzine steps down at collapsed firm, hires lawyer
Headline Court News |
2011/11/07 12:29
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He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers.
Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure.
MF Global collapsed into bankruptcy Monday, and Corzine has since hired a criminal defense attorney amid an FBI investigation into the disappearance of hundreds of millions of dollars in client money.
In another twist, a top regulator has ended his role in the investigation of MF Global because of his longstanding ties to Corzine. Commodity Futures Trading Commission chairman Gary Gensler, whose agency is leading the effort to locate the missing client money, had worked for Corzine at Goldman Sachs.
MF Global's implosion, which came after Corzine made a big, risky bet on European debt, revived memories of the 2008 banking crisis and the ruin of the much bigger Lehman. |
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PETA lawsuit seeks to expand animal rights
Headline Court News |
2011/10/27 09:48
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A federal court is being asked to grant constitutional rights to five killer whales who perform at marine parks — an unprecedented and perhaps quixotic legal action that is nonetheless likely to stoke an ongoing, intense debate at America's law schools over expansion of animal rights.
People for the Ethical Treatment of Animals is accusing the SeaWorld parks of keeping five star-performer whales in conditions that violate the 13th Amendment ban on slavery. SeaWorld depicted the suit as baseless.
The chances of the suit succeeding are slim, according to legal experts not involved in the case; any judge who hews to the original intent of the authors of the amendment is unlikely to find that they wanted to protect animals. But PETA relishes engaging in the court of public opinion, as evidenced by its provocative anti-fur and pro-vegan campaigns.
The suit, which PETA says it will file Wednesday in U.S. District Court in San Diego, hinges on the fact that the 13th Amendment, while prohibiting slavery and involuntary servitude, does not specify that only humans can be victims. |
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