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Goldman Receives Subpoena Over Financial Crisis
Industry News |
2011/06/02 05:07
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Goldman Sachs has received a subpoena from the office of the Manhattan District Attorney, which is investigating the investment bank's role in the financial crisis.
The inquiry stems from a 650-page Senate report from the Permanent Subcommittee on Investigations that found Goldman had misled its clients about mortgage-linked securities. Senator Carl Levin, the Democrat of Michigan, who headed up the Congressional inquiry, had sent his findings to the Justice Department to figure out whether executives broke the law.
The subpoena come two weeks after lawyers for Goldman met with the Manhattan District Attorney's office for an exploratory meeting about the Senate, the people said.
We don't comment on specific regulatory or legal issues, but subpoenas are a normal part of the information request process and, of course, when we receive them we cooperate fully, said a Goldman spokesperson. |
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Court refuses to reconsider Spector's appeal
Industry News |
2011/05/30 14:14
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An appeals court on Friday refused to reconsider music producer Phil Spector's appeal of his murder conviction, saying there was overwhelming evidence of his guilt.
The California 2nd District Court of Appeal panel acknowledged it did not consider an issue that defense lawyers now say was critical to his conviction.
The panel blamed the lawyers for failing to sufficiently brief the point and said they had no obligation to consider it.
They quoted case law saying, Issues do not have a life of their own: if they are not raised ... we consider the issues waived.
Spector, a legendary rock music producer, was convicted two years ago of fatally shooting actress Lana Clarkson at his Alhambra mansion in 2003. He is serving 19 years to life in prison on a second-degree murder conviction. |
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Gov. Rick Perry signs tort reform bill into law
Industry News |
2011/05/28 13:47
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Gov. Rick Perry signed into law Monday a measure that will limit frivolous lawsuits by levying some fees on plaintiffs and allowing meritless suits to be dismissed early in the process.
Perry designated the loser pays bill a top priority of the legislative session, saying Texas needs to crack down on junk lawsuits.
Some plaintiffs who sue and lose will be required to pay the court costs and attorney fees of those they are suing. The law also creates expedited civil actions for cases less than $100,000. It goes into effect Sept. 1.
Perry said the legislation provides defendants and judges with a variety of tools to expedite justice for those deserving.
Employers will spend less time in court and more time creating jobs, he said.
The law will encourage timely settlements by penalizing parties who turn down reasonable settlement offers to try to get more than they should.
Perry said the changes reduce the cost of litigation while still allowing legitimate cases to proceed. Supporters say the state's business climate will improve because the reforms will make Texas more attractive to employers looking to expand or relocate. |
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School residency arrests raise fairness questions
Industry News |
2011/05/10 03:19
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A homeless single mother's arrest on charges she intentionally enrolled her son in the wrong school district by using her baby sitter's address is raising questions about uneven enforcement of residency rules as budget-conscious cities nationwide crack down on out-of-towners in their classrooms.
Tanya McDowell's arrest in Norwalk last month came a few months after Kelley Williams-Bolar of Akron, Ohio, was convicted of falsifying records for using her father's address to send her children to safer suburban schools.
Yet in Connecticut, Ohio and elsewhere throughout the U.S., officials acknowledge parents are routinely caught doing the same thing but rarely face criminal charges.
McDowell and Williams-Bolar are low-income black single mothers, a fact that disturbs civil rights activists who question whether they are being singled out unfairly.
McDowell returns to court Wednesday in Norwalk, where she is charged with felony larceny for allegedly stealing $15,686 of educational services by enrolling her 5-year-old in kindergarten last fall under her baby sitter's Norwalk public housing unit address. The baby sitter was later evicted. |
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Calif Supreme Court lifts tobacco suit deadlines
Industry News |
2011/05/06 08:43
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The California Supreme Court has lifted legal deadlines for smokers who later develop diseases like lung cancer.
Lawyers who filed the lawsuit say Thursday's unanimous ruling in San Francisco will likely allow new smoker suits to be filed against the tobacco industry and keep alive lawsuits that may have been thrown out because of expired legal deadlines.
The case before the court involved former smoker Nikki Pooshs, who was diagnosed in 1989 with smoking-related chronic obstructive pulmonary disease in 1989 and a couple of years later with periodontal disease.
But Pooshs didn't sue the tobacco industry until she was diagnosed with lung cancer in 2003.
Cigarette makers argued the suit should be dismissed because California law gives people two years to file suit after discovery of an injury. |
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Court upholds $311K award against debt collector
Industry News |
2011/04/19 08:50
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div class=entrydiv class=articlepA North Dakota law firm accused of trying to collect a $3,800 debt after the statute of limitations expired is now the one that owes a lot of money./ppAn appellate court has upheld a $311,000 jury award to a Montana man who sued the firm in 2007 over a violation of the federal Fair Debt Collection Practices Act./ppJohnson, Rodenburg amp; Lauinger appealed the April 2009 summary judgment and damages awarded to Timothy McCollough of Laurel. The case was heard in July by a special panel of the 9th U.S. Circuit Court of Appeals in Billings, including retired Supreme Court Justice Sandra Day O'Connor./ppThe panel issued a decision Friday upholding the damages. They include $1,000 statutory maximum for violating the debt collection law, $60,000 in punitive damages and $250,000 for emotional distress./ppI'm just so giddy it's all over. We're finally able to take a deep breath, McCullough told The Billings Gazette on Friday. We knew we had a good case, but it just went on forever./ppMcCullough said he hoped the case showed debt collectors that people are going to know they don't have to take the garbage. They can fight back./pp
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High court takes no action on Va. health care case
Industry News |
2011/04/19 08:48
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The Supreme Court has taken no action on Virginia's call for speedy review of the health care law.
Virginia Attorney General Ken Cuccinelli is asking the court to resolve questions about the law quickly, without the usual consideration by federal appellate judges and over the objection of the Obama administration.
The case was among those that were scheduled to be discussed in the justices' private conference on Friday, but there was no announcement about the case when the court convened on Monday.
The silence could mean, among other things, that one justice asked for more time to think about the case or to write a short opinion that would accompany an order.
The justices meet again on Friday to discuss pending cases. |
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