Keyword: suit

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  • Goldman sued by pension fund over bonus plans

    01/07/2010 4:36:49 PM PST · by TigerLikesRooster · 3 replies · 322+ views
    Reuters ^ | 01/07/10
    Goldman sued by pension fund over bonus plans NEW YORK Thu Jan 7, 2010 6:19pm EST NEW YORK (Reuters) - Goldman Sachs Group Inc was sued on Thursday by an Illinois pension fund seeking to recover billions of dollars of bonuses and other compensation being awarded for 2009, saying the payouts harm shareholders. In a lawsuit filed in New York state supreme court in Manhattan on behalf of shareholders, the Central Laborers' Pension Fund said Goldman had by September 25 set aside nearly $17 billion for compensation and might pay out more than $22 billion for the year. It said...
  • ND eyes suit against Minnesota over carbon tax

    12/29/2009 11:33:31 AM PST · by WOBBLY BOB · 27 replies · 1,028+ views
    Pioneer Press ^ | 12-29-09 | ap
    BISMARCK, N.D.—North Dakota Attorney General Wayne Stenehjem said he expects the state to file a lawsuit against Minnesota over its plan to tax carbon dioxide created by electrical generation. The Minnesota Public Utilities Commission wants to add a fee of $4 to $34 per ton of carbon dioxide to the cost of electrical generation starting in 2012. The majority of electricity in North Dakota is generated by coal-fired power plants, which emit carbon dioxide. North Dakota officials consider it an unfair tax on electricity produced in the state and say it would discourage its use by Minnesota utilities.
  • Blavatnik: "JPM Lost My Money"

    12/21/2009 3:29:55 PM PST · by FromLori · 15 replies · 673+ views
    The Business Insider ^ | 12/21/09 | Courtney Comstock
    One of Len Blavatnik's companies lost $98 million in a $1 billion portfolio invested with JPM. It's not our fault! They say. So they're suing JPM. CMMF claims that when JPMorgan was retained in May 2006, it was given broad discretion in how it invested the funds but its goal was to “provide a high level of current income consistent with low volatility,” explains Francesco Guerrera at the Financial Times. The two sides disagree on how JPM allocated the funds. Blavatnik says JPM wrongly invested 46% of his company's money in asset backed securities. "Wrongly" because, his side argues, their...
  • Pension Fund Sues Goldman Board?

    12/16/2009 8:31:29 AM PST · by FromLori · 4 replies · 339+ views
    Zero Hedge ^ | 12/16/09 | Leo Kolivakis, publisher of Pension Pulse.
    Brooke masters of the FT reports that Pension fund sues Goldman board: A pension fund for fire and police officers has sued the board of Goldman Sachs, seeking to stop the investment bank from paying out billions of dollars in bonuses to the bank's staff, writes Brooke Masters in London. Lawyers representing the Security Police and Fire Professionals of America Retirement Fund argue that the board has "abdicated" its responsibility to shareholders and "blindly "rewarded" executives for "corporate performance that has absolutely nothing to do with the skill of the company's employees". The lawsuit, filed in New York late on...
  • New Haven firefighters in discrimination case get promotions

    11/25/2009 1:56:45 PM PST · by FromLori · 7 replies · 548+ views
    CNN ^ | 11/25/09
    he city of New Haven, Connecticut, will promote 14 firefighters who were involved in a workplace discrimination case that worked its way to the U.S. Supreme Court. The firefighters were among the New Haven 20 -- one Hispanic and 19 white firefighters -- who fought the city after it threw out the results of a 2003 firefighter promotion exam that left too few minorities qualified for promotions. A U.S. District Court issued a judgment finding the city violated the civil rights of a group of the white firefighters when it threw out the exams in 2004, according to Jessica Mayorga,...
  • White House aides: No Afghan decision before Thanksgiving

    11/19/2009 6:47:27 AM PST · by WestTexasWend · 35 replies · 888+ views
    Washington Post ^ | Thursday, November 19, 2009 | Anne E. Kornblut
    SEOUL -- President Barack Obama will not announce his decision on sending more troops to Afghanistan before the Thanksgiving holiday, senior aides said on Thursday. (snip) "You guys make a pretty good photo op," the president said. (snip) He got a huge cheer when he told them he was increasing military pay. "That's what you call an applause line," he said...
  • SMUD sues Wall St. firms over alleged bid rigging

    11/16/2009 8:19:21 PM PST · by FromLori · 2 replies · 227+ views
    Sacramento Bee ^ | 11/16/09
    The Sacramento Municipal Utility District sued Goldman Sachs, Morgan Stanley and 45 other financial firms Thursday in Sacramento federal court for allegedly rigging bids in bond-derivatives markets and defrauding the utility. SMUD joined at least six city and county governments in California that already have filed similar lawsuits arising from a federal investigation made public in 2006. Many other public entities around the country have joined in lawsuits seeking class-action status. The SMUD filing is the first to name Goldman Sachs as a defendant, according to lawyers working with the utility. The litigation deals with bond-related financial instruments often used...
  • Bernard Madoff's life behind bars revealed(befriending Carmine Persico and Jonathan Pollard)

    Bernard Madoff's life behind bars revealed Bernard Madoff reportedly sleeps in the lower bunk in his cell and he eats pizza cooked by an inmate convicted of child molestation Christine Seib in New York Bernard Madoff shares a jail cell with a 21-year-old drug dealer and socialises with a former crime boss and an Israeli spy, according to a legal action filed yesterday in New York. Attorneys who interviewed Madoff in jail in July used information obtained from the fraudster to file a series of claims against major banks and accountancy firms, in an action that also throws light on...
  • Limbaugh May Have Grounds for Libel Suit, Legal Analysts Say

    10/15/2009 11:29:53 AM PDT · by nickcarraway · 74 replies · 3,107+ views
    Fox News ^ | Thursday, October 15, 2009 | Joshua Rhett Miller
    Radio host Rush Limbaugh is interviewed on the sidelines before the start of the NFL AFC championship football game in Pittsburgh. Rush Limbaugh, who saw his bid to co-own a National Football League team sacked partly because of quotes he purportedly made regarding slavery, could have grounds for a libel suit, legal experts told Foxnews.com. The conservative radio host was dropped on Wednesday from a group seeking to buy the St. Louis Rams. Dave Checketts, chairman of the St. Louis Blues hockey team, who is leading the effort to buy the NFL team, said Limbaugh was dropped from the group...
  • Japanese Suit Protects Against Swine Flu

    10/11/2009 8:58:25 PM PDT · by nickcarraway · 4 replies · 452+ views
    MyFox Illinois ^ | Sunday, 11 Oct 2009 | MIKE BRODY
    A Japanese menswear company is selling an "anti-swine flu" business suit that it says can reduce the risk of catching the H1N1 virus. Haruyama Trading has developed a wool suit coated with titanium dioxide, which it says breaks down the virus molecules on contact under ultraviolet light, according to Reuters . "If a person with the flu virus coughs, it might get on someone else's suit and from there, another person might get infected," Shinto Hirata, vice director of merchandising at Haruyama told Reuters. "Small children might catch the virus after touching their father's suit. We came up with this...
  • Japanese suit that fights (swine) flu

    10/11/2009 2:43:41 PM PDT · by Berlin_Freeper · 6 replies · 604+ views
    telegraph.co.uk ^ | Oct 06 2009 | Julian Ryall
    A Japanese company, Haruyama Trading Co., has developed a suit that it claims protects the wearer from the deadly H1N1 strain of influenza. The company has produced 50,000 of the suits and will start selling them on Thursday, according to a company spokesman. The suit is coated with the chemical titanium dioxide, which reacts to light to break down and kill the virus when it comes into contact with it, according to Junko Hirohata.
  • Madoff Family Members Sued For $198 Million (sons, brother, and niece)

    10/03/2009 2:01:49 AM PDT · by TigerLikesRooster · 29 replies · 3,274+ views
    CNBC ^ | 10/03/09 | Scott Cohn
    Madoff Family Members Sued For $198 Million Published: Saturday, 3 Oct 2009 | 1:37 AM ET By: Scott Cohn Senior Correspondent, CNBC The bankruptcy trustee trying to recover assets from the Bernard Madoff Ponzi scheme says Madoff's relatives used the firm "as if it were the family piggy bank." Irving Picard is suing Bernard Madoff's sons Mark and Andrew, his brother Peter, and his niece Shana for $198.7 million. That is the amount Picard says the family members received from Madoff's investment advisory business — $141 million of it in the last six years. All four of the family members...
  • Citi sues Morgan Stanley over CDS, claims $245 mln

    09/26/2009 7:36:58 PM PDT · by TigerLikesRooster · 6 replies · 496+ views
    Reuters ^ | 09/26/09
    Citi sues Morgan Stanley over CDS, claims $245 mln Sat Sep 26, 2009 3:35am BST NEW YORK, Sept 25 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) sued Morgan Stanley (MS.N: Quote, Profile, Research) on Friday for breach of contract, saying the Wall Street firm owed it $245.4 million for protection it bought on a loan. Citibank bought a credit default swap (CDS) from Morgan Stanley & Co International in 2006 on a $366 million revolving credit facility it provided to an issuer of collateralized debt obligations (CDO), according to the complaint filed in U.S. District Court in Manhattan. The...
  • Dishonorable Recrimination (the Corner NRO)

    09/24/2009 1:41:10 PM PDT · by 11th Commandment · 10 replies · 588+ views
    NRO ^ | Thursday, September 24, 2009 | Darin Bartram
    Yesterday, ACORN and two of its employees exhibited unabashed gumption by suing the “pimp” and the “prostitute” who brought the organization to its knees. To be precise, the plaintiffs rely on Maryland’s wiretap statute to sue James O’Keefe III, Hannah Giles, and Breitbart.Com LLC, for the video recordings which revealed ACORN’s willing assistance and counsel on establishing a brothel which would feature underage girls trafficked from El Salvador. The lawsuit should fail because it attempts to misapply the wiretap statute to the legal recording of a non-protected conversation. The Maryland wiretap statute prohibits the willful interception of any wire, oral,...
  • Mobsters in Japan hit the books to beat new laws (suing Yakuza boss to ruin)

    09/13/2009 7:35:55 AM PDT · by TigerLikesRooster · 1 replies · 464+ views
    Mobsters in Japan hit the books to beat new laws ELIZABETH JACKSON: They're members of the biggest, meanest organised crime group in Japan. But these tattooed gangsters are being sent back to school by their godfathers. Under new laws, mob bosses can be sued for the misdeeds of their underlings. So the leaders of the feared Yamaguchi-gumi have begun testing their mobsters' knowledge of the laws.
  • Foreign porn companies refile suit against Korean netizens (copyright violation?)

    09/10/2009 9:57:21 PM PDT · by TigerLikesRooster · 8 replies · 1,346+ views
    Yonhap News ^ | 09/11/09 | Kim Eun-jung
    Foreign porn companies refile suit against Korean netizens By Kim Eun-jung SEOUL, Sept. 11 (Yonhap) -- A group of U.S. and Japanese porn companies will refile a lawsuit from next week against South Korean uploaders, their legal representative here said Friday, accusing the country of holding a double standard in investigating copyright violations of local and foreign material. Some 50 foreign firms sued 10,000 Korean Internet users in July for uploading their adult materials onto local Web sites, but prosecutors limited their investigation to those confirmed to have uploaded content more than three times. Only 10 were punished. The porn...
  • Fair Game: They Left Fannie Mae, but We Got the Legal Bills

    09/06/2009 3:39:51 AM PDT · by TigerLikesRooster · 9 replies · 661+ views
    NYT ^ | 09/06/09 | GRETCHEN MORGENSON
    Fair Game They Left Fannie Mae, but We Got the Legal Bills By GRETCHEN MORGENSON PRECISELY one year ago, we lucky taxpayers took over Fannie Mae and Freddie Mac, the mortgage finance giants that contributed mightily to the wild and crazy home-loan-boom-turned-bust. In that rescue operation, the Treasury agreed to pony up as much as $200 billion to keep Fannie in the black, coughing up cash whenever its liabilities exceed its assets. According to the company’s most recent quarterly financial statement, the Treasury will, by Sept. 30, have handed over $45 billion to shore up the company’s net worth. It...
  • Obama Administration Wants Judge to Toss Embassy Hostage Suit

    04/22/2009 4:03:16 PM PDT · by Westlander · 19 replies · 877+ views
    FoxNews ^ | 4-22-2009 | Foxnews
    The Obama administration has asked a federal judge to throw out a lawsuit against Iran filed by Americans held hostage at the U.S. Embassy in Tehran 30 years ago.
  • Group of Rich Americans Sues UBS to Keep Names Secret in Tax Case

    02/25/2009 12:50:14 AM PST · by TigerLikesRooster · 236 replies · 2,409+ views
    NYT ^ | 02/25/09 | LYNNLEY BROWNING
    Group of Rich Americans Sues UBS to Keep Names Secret in Tax Case By LYNNLEY BROWNING UBS was sued on Tuesday in a Swiss federal court by wealthy American clients seeking to prevent the disclosure of their identities as part of a tax-evasion investigation by the United States Justice Department. The lawsuit accuses UBS and Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority, or Finma, of violating Swiss bank secrecy laws and of conducting what Swiss law considers illegal activities with foreign authorities. It also named Peter Kurer, the chairman of UBS, and Eugen Haltiner, the chairman of Finma,...
  • Sean Penn's 'Milk' suit up for bid

    02/21/2009 7:41:41 AM PST · by melt · 10 replies · 612+ views
    chicagotribune.com ^ | 2/20/09 | Michael Esposito
    Got "Milk"? If not, here's a chance to get one of the suits (including shirt and tie) worn by Sean Penn in his Oscar-nominated role as Harvey Milk. The suit was designed for a scene in the film "Milk" to replicate that worn by the real Milk on election night Nov. 7, 1978, when a referendum to bar gays from teaching in California public schools was defeated. Milk was the first openly gay man to be elected to a major public office (the San Francisco Board of Supervisors). The film is nominated for a total of eight Academy Awards, including...
  • Video shows another BART cop hitting passenger

    01/26/2009 2:12:13 PM PST · by Navy Patriot · 68 replies · 1,440+ views
    San Francisco Chronicle ^ | Sunday, January 25, 2009 | Marisa Lagos, Chronicle Staff Writer
    BART officials said Saturday that they will investigate the actions of one of the transit agency's police officers after a video surfaced showing the officer striking a passenger - apparently Oscar Grant - minutes before the unarmed young man was fatally shot by another officer early on New Year's Day. The cell phone video, one of a handful that have surfaced, aired Friday night on KTVU-TV. It shows a male BART police officer walking over to three men lined up against a wall near a female officer, and then striking one in the face. The victim of the punch -...
  • Obama's Suit-Maker Files for Ch. 11 (HartMARX)

    01/24/2009 9:07:02 AM PST · by MAD-AS-HELL · 16 replies · 1,225+ views
    CHICAGO -- The Chicago-based company that makes suits preferred by President Barack Obama has filed for bankruptcy.
  • Delta Flight Attendant Sues Airlines Over 'Sexy Dress' Complaint

    01/22/2009 8:58:46 PM PST · by TigerLikesRooster · 14 replies · 1,481+ views
    WSB TV ^ | 01/19/09
    Delta Flight Attendant Sues Airlines Over 'Sexy Dress' Complaint Monday, January 19, 2009 PITTSBURGH -- A flight attendant is suing JetBlue Airways and Delta Air Lines, saying a male employee denied her a work-related flight because she wasn't dressed provocatively enough. The flight attendant, 37-year-old Karin Keegan of Pittsburgh, works for Delta. The airline has an agreement for JetBlue to ferry Delta flight attendants to job assignments on a standby basis.
  • Appeals may delay payments in pet food case ($24m settlement money held up)

    12/31/2008 5:37:14 AM PST · by TigerLikesRooster · 5 replies · 368+ views
    Newsday ^ | 12/30/08 | GEOFF MULVIHILL
    Appeals may delay payments in pet food case By GEOFF MULVIHILL | Associated Press Writer 2:56 PM EST, December 30, 2008 MOUNT LAUREL, N.J. - More than 23,000 pet owners in the United States have asked for money from a $24 million settlement for owners of dogs and cats who were sickened or died after eating pet food contaminated with an industrial chemical.
  • NYSUES MADOFF CRONY (title correction: NYU sues...)

    12/25/2008 4:59:12 AM PST · by TigerLikesRooster · 6 replies · 526+ views
    NY Post ^ | 12/25/08 | KAJA WHITEHOUSE
    <p>December 25, 2008 -- New York University slapped tarnished financier J. Ezra Merkin with a lawsuit yesterday stemming from his ties with alleged con artist Bernard Madoff.</p> <p>NYU, one of the largest private universities in the US, says it may have lost more than $24 million due to Merkin's investments with Madoff "in the face of an extraordinary number of 'red flags.' "</p>
  • Responding to Hatfill, Locy presses court to decide her case. - anthrax

    09/21/2008 1:01:29 PM PDT · by Justice Department · 9 replies · 641+ views
    Former USA Today reporter Toni Locy urged the U.S. Circuit Court of Appeals in Washington on Thursday not to throw out her case seeking a reporter’s privilege to keep her sources confidential. Locy became embroiled in the legal battle after reporting about Steven Hatfill, the former Army scientist who was investigated in the 2001 anthrax attacks but whose name has since been cleared. When Locy refused to give up her confidential sources in Hatfill's ensuing Privacy Act suit against the government, the U.S. District Court in D.C. held her in contempt. She appealed that decision to the Court of Appeals.
  • BIDEN'S SON IN FUND SUIT (got paid $1.2 million a year despite no experience in the sector)

    09/05/2008 4:09:37 PM PDT · by Libloather · 25 replies · 185+ views
    NY Post ^ | 8/31/08 | KAJA WHITEHOUSE
    BIDEN'S SON IN FUND SUITBy KAJA WHITEHOUSE Posted: 4:35 am August 31, 2008 Hedge fund executive Hunter Biden has had anything but a quiet introduction to his career in finance. The 38-year-old son of Democratic vice presidential candidate Sen. Joe Biden is caught up in several lawsuits regarding the acquisition and operation of Paradigm Companies, an investment firm that operates a fund of funds - a hedge fund that invests in other hedge funds. Biden also appears to be feuding with partner James Park, the son-in-law of the Rev. Sun Myoung Moon, Court papers show. Biden, also a Washington lobbyist,...
  • Human exoskeleton suit helps paralyzed people walk

    08/25/2008 9:32:14 AM PDT · by Nachum · 4 replies · 138+ views
    Yahoo News ^ | 8-25-08 | Ari Rabinovitch
    HAIFA, Israel (Reuters) - paralyzed for the past 20 years, former Israeli paratrooper Radi Kaiof now walks down the street with a dim mechanical hum. That is the sound of an electronic exoskeleton moving the 41-year-old's legs and propelling him forward -- with a proud expression on his face -- as passersby stare in surprise. "I never dreamed I would walk again. After I was wounded, I forgot what it's like," said Kaiof, who was injured while serving in the Israeli military in 1988.
  • Man claims Subway baked knife into sandwich

    07/18/2008 6:28:34 AM PDT · by TigerLikesRooster · 80 replies · 155+ views
    Reuters ^ | 07/17/08 | Edith Honan
    Man claims Subway baked knife into sandwich Thu Jul 17, 1:08 PM ET A New York man claimed in a lawsuit filed on Wednesday that he found a knife with a 7-inch (18-cm) blade baked into the bread of his foot-long "Cold Cut Trio" Subway sandwich. John Agnesini, 26, a magazine designer, said he had already taken a few bites from the sandwich in late June when he spotted the knife jutting out from the bread's crust. The lawsuit, filed in Manhattan state court, seeks $1 million. "If I didn't look at it, I don't know what would have happened,"...
  • Patriots' affiliate sues bond insurer to block fees(Ambac sued)

    07/16/2008 9:42:54 PM PDT · by TigerLikesRooster · 1 replies · 82+ views
    Boston Globe ^ | 07/16/08 | Ross Kerber
    Patriots' affiliate sues bond insurer to block fees Securities trouble boosted costs of financing stadium NPS, a Patriots' affiliate, issued bonds to finance the new stadium, but market woes drove up the costs. By Ross Kerber Globe Staff / July 16, 2008 An affiliate of the New England Patriots football team is playing defense on a new field: the market for auction-rate securities. The Foxborough team affiliate has sued Ambac Assurance Corp., the big bond insurer, in a dispute similar to a raft of others in which institutional borrowers found that policies they took out didn't guarantee low interest rates...
  • Gun Rights Groups File Suit to end Unconstitutional Chicago Gun Ban

    06/27/2008 7:47:38 AM PDT · by epow · 52 replies · 151+ views
    Attorney Alan Gura, on behalf of a coalition of the Second Amendment Foundation and several Chicago Residents, filed suit this morning against the City of Chicago, challenging that city’s draconian gun ban laws. You can view a copy of the complaint here. This suit is the necessary and logical second step towards restoring the Second Amendment as a viable force in American law. As you read from our prior coverage, the Heller decision applies only to the Federal government. A necessary second step is “incorporation” of the Second Amendment against the 50 states. As originally written, none of the Bill...
  • Torrance Police Chief, City and Council Members Served with Federal Lawsuit for CCW

    06/16/2008 6:47:04 PM PDT · by marktwain · 10 replies · 135+ views
    Calguns.net ^ | 10 June, 2008 | BillyJack
    It was my pleasure to help bring together various employees of Torrance. You could actually feel the love in the City Hall Council Chambers as they each received personal copies of the Federal Complaint. What made this so exciting for City Council members is that they were served both individually as civilians and in their official capacities. Served Chief Neu at PD HQ after waiting for 45 minutes in the lobby while he was in an important meeting. Lobby officer asked me to make an appointment to serve him. Told her it does not work that way. I would sit...
  • £100,000 Police Hunt for 'Terror' Suit to Fit Over Turban

    06/15/2008 9:50:10 PM PDT · by Coffee200am · 13 replies · 148+ views
    Telegraph UK ^ | 6.16.2008 | Telegraph
    A police project that involved spending £100,000 helping a Sikh officer find a chemical and biological attack suit to fit over his turban and beard has been described as "ridiculous". The junior officer, who has not been named, encountered problems trying to join West Midlands Police's counter-terrorist operation support unit because he could not fit protective gear over his religious headwear and beard. Police chiefs decided to let him spend 18 months trying to find new respirators and helmets suitable for Sikhs. But after failing to come up with an alternative he was restored to his regular role – only...
  • Parents file suit against man who fatally shot son from Somerset County

    04/11/2008 9:51:47 AM PDT · by marktwain · 15 replies · 65+ views
    Pittsburgh Tribune Review ^ | 10 April, 2008 | Paul Peirce
    The parents of a Somerset County man shot and killed when he knocked on the wrong door looking for a party have filed a wrongful death lawsuit against the man who said he shot to defend himself. Jay and Carolyn Zimmerman of Central City, the parents of the late Perry Zimmerman, are seeking unspecified damages against Matthew Eperjesi, 29, formerly of Somerset, in connection with the April 8, 2006, shooting outside Eperjesi's former apartment.
  • Woman awarded $2.1 million in racial discrimination suit (she's white)

    04/04/2008 11:23:29 AM PDT · by LibWhacker · 17 replies · 202+ views
    PLATTE CITY, Mo. — Kansas City officials say they plan to appeal a jury's $2.1 million award to a woman who claimed she was passed over for a city judgeship because she's white. Clay County assistant prosecutor Melissa Howard claimed in a lawsuit filed in Platte County that Kansas City council members wanted to fill the vacancy with a racial minority. Howard was one of three white women who were finalists for the post vacated by Marcia Walsh in 2006. City officials deny Howard was discriminated against. City attorney Galen Beaufort said that the state law upon which Howard based...
  • Hedge funds claim bank knew about wrongdoing(Wachovia complicit in fraud?)

    03/31/2008 4:06:10 AM PDT · by TigerLikesRooster · 18 replies · 998+ views
    Charlotte Business Journal ^ | 03/28/08 | Will Boye
    Hedge funds claim bank knew about wrongdoing Charlotte Business Journal - by Will Boye Staff writer A group of hedge funds and a state retirement system have filed suit against Wachovia Corp.'s investment-banking unit, claiming Wachovia knew a now-bankrupt beverage company was committing fraud when the bank underwrote $285 million in debt for the company in 2006. The amended complaint, filed in federal court in New York, contends Wachovia knew LeNature's Inc. was reporting sales figures that couldn't be accurate and had been unable to make interest payments on its existing loans. The bank fronted the payments for the troubled...
  • Merrill Lynch sues bond insurer over deal terminations

    03/20/2008 9:13:39 AM PDT · by TigerLikesRooster · 7 replies · 307+ views
    Financial News Online US ^ | 03/20/08 | Stephanie Baum
    Merrill Lynch sues bond insurer over deal terminations Stephanie Baum 20 Mar 2008 Merrill Lynch has filed a lawsuit over a bond insurer in the latest sign of tensions in the structured credit markets. Merrill contends that XL Capital Assurance, a monoline insurer owned by Security Capital Assurance, improperly terminated seven credit default swap contracts insuring collateralized debt obligations, according to its suit filed in the US District Court in the Southern District of Manhattan. Credit default swaps are contracts that offer insurance against default. Collateralized debt obligations pool together bonds or asset-backed securities and slice them up into tranches...
  • Bear Stearns braces for legal battles

    03/20/2008 9:04:45 AM PDT · by TigerLikesRooster · 9 replies · 408+ views
    Financial News Online US ^ | 03/20/08 | Johanna Symmons and Cardiff de Alejo Garcia
    Bear Stearns braces for legal battles Johanna Symmons and Cardiff de Alejo Garcia 20 Mar 2008 Bear Stearns has amended its bylaws to prepare for legal expenses as more than a half-dozen law firms have announced plans to file lawsuits on behalf of shareholders and employees, and as US regulators have indicated they might investigate possible violations of securities law. The change to the bank’s bylaws, filed with the US Securities and Exchange Commission, are a provision to compensate Bear Stearns officers implicated in lawsuits for their attorneys’ fees and other legal costs they incur. Since Monday, no fewer than...
  • Civil suit in iGate case is delayed (until end of Rep. William Jefferson D-La bribery trial)

    02/26/2008 5:16:12 AM PST · by Libloather · 94+ views
    Kentucky.com ^ | 2/26/08
    Civil suit in iGate case is delayedASSOCIATED PRESS Posted on Tue, Feb. 26, 2008 LOUISVILLE --The civil case against an indicted Louisiana congressman and a former business associate was delayed Monday until the criminal case against the lawmaker is over. U.S. District Judge Charles Simpson halted proceedings against Democratic U.S. Rep. William Jefferson; his wife; and Vernon Jackson, former chief executive of the Louisville-based telecommunications firm iGate. Simpson said little could be done to advance the case while the criminal charges are pending. Jefferson's criminal trial on racketeering and other charges was scheduled to begin Monday in Alexandria, Va., but...
  • China may sue over German Terracotta Warrior scam (waging war on (foreign) fakes)

    12/16/2007 6:34:49 PM PST · by TigerLikesRooster · 41 replies · 611+ views
    AFP ^ | 12/14/07
    China may sue over German Terracotta Warrior scam Fri Dec 14, 1:17 AM ET Chinese cultural authorities are threatening legal action over fake "Terracotta Warriors" that appeared at a German museum in a scam that fooled thousands of people, state press reported. "It is a serious act of fraud and has implications for intellectual property rights," said Chen Xianqi, a spokesman for the cultural heritage bureau in Shaanxi province, home of the original 2,200-year-old life-size clay soldiers. "The museum of the 'Terracotta Army' in Xian has not sent any authentic objects for display in Germany recently, and currently no such...
  • Suit seeks to protect Mexican garter snake (EnviroNUTTIES at it again!)

    11/26/2007 5:49:03 PM PST · by SandRat · 14 replies · 88+ views
    Arizona Daily Star ^ | Josh Brodesky
    An environmental group has filed a lawsuit to have the Mexican garter snake listed as an endangered species. The Center for Biological Diversity's federal suit against the U.S. Fish and Wildlife Service, as well as Secretary of the Interior Dirk Kempthorne, marks its latest push to achieve endangered status for the snake. It also asks that the Fish and Wildlife Service reconsider its recent finding that the endangered species label is not warranted for the snake. That decision has been called into question because of a scandal involving former Deputy Assistant Secretary of the Interior Julie MacDonald, who was found...
  • Congress Warned Of Multi-Billion Dollar Oil, Gas Lease Royalty Suit

    11/06/2007 6:10:50 PM PST · by TornadoAlley3 · 3 replies · 42+ views
    money.cnn.com ^ | 11/06/07 | cnnmoney
    WASHINGTON -(Dow Jones)- Congress is facing a multi-billion dollar lawsuit if lawmakers press ahead with proposed legislation that would seek to recoup royalties on offshore oil and gas leases signed in the late 1990s, a law firm representing several of the companies that signed the contracts warned Tuesday. The threat follows a Louisiana district court ruling last week that found that the federal government couldn't collect royalties on some Gulf of Mexico oil and gas production despite surging energy prices. Congress, meanwhile, has drafted a number of proposals that seek to either force the companies to renegotiate the leases or...
  • Judge Tries to Avoid Paying Legal Bills Of Cleaners He Sued Over Missing Pants

    08/11/2007 12:17:22 AM PDT · by TigerLikesRooster · 19 replies · 1,805+ views
    Washington Post ^ | 08/11/07 | Henri E. Cauvin
    Judge Tries to Avoid Paying Legal Bills Of Cleaners He Sued Over Missing Pants By Henri E. Cauvin Washington Post Staff Writer Saturday, August 11, 2007; Page B04 The Pants Judge wants to keep the dry cleaners he sued out of his pockets. In a filing yesterday in D.C. Superior Court, Administrative Law Judge Roy Pearson said he should not be forced to pay legal fees to the dry cleaners he sued over a missing pair of pants. A case that took nearly two weeks to decide could hardly be considered frivolous, Pearson said in a 65-page brief. The trial...
  • Ex-CEO accused of building secret lair

    07/19/2007 7:39:39 AM PDT · by TigerLikesRooster · 30 replies · 2,218+ views
    AP ^ | 07/09/
    Ex-CEO accused of building secret lair 2 hours, 1 minute ago The co-founder of semiconductor maker Broadcom Corp., under scrutiny in a federal stock options probe, was accused seven years ago of building an underground hideaway at his estate to indulge in drugs and sex with prostitutes, according to court documents. In a draft complaint made against Henry T. Nicholas III, a construction crew claimed the billionaire failed to pay them millions of dollars for work performed between 1998 and 2002, and used "manipulation, lies, intimidation, and even death threats" when anyone threatened to quit. The illegal network of tunnels...
  • Judge Suing Dry Cleaner Cries Over Pants ($54 million suit opens)

    06/13/2007 7:22:49 PM PDT · by TigerLikesRooster · 29 replies · 1,682+ views
    San Francisco Examiner ^ | 06/12/07 | LUBNA TAKRURI
    Strange Judge Suing Dry Cleaner Cries Over Pants (AP Photo/Dana Verkouteren) In this courtroom sketch, Judge Roy Pearson, left, who is suing Jin Nam Chung, seated at center right, and his wife Ki, seated 2nd right, for $54 million for what he calls "misleading signage" at their dry cleaning business, speaks at DC Superior Court in Washington, D.C. Tuesday, June 12, 2007. By LUBNA TAKRURI, The Associated Press 2007-06-12 22:01:36.0 Current rank: # 9,480 of 9,634 WASHINGTON - A judge who is suing a dry cleaner that lost his trousers for $54 million left the courtroom in tears Tuesday after...
  • U.N. says it has immunity in Bosnia suit

    06/08/2007 7:46:11 PM PDT · by NormsRevenge · 3 replies · 355+ views
    AP on Yahoo ^ | 6/8/07 | Edith M. Lederer - ap
    UNITED NATIONS - The United Nations said Friday it has immunity from a lawsuit by survivors of the 1995 Srebrenica massacre in Bosnia but remains committed to assisting those affected and bringing the perpetrators to justice. Thousands of survivors of Europe's worst massacre since World War II sued the United Nations and the Dutch government Monday for their failure to protect civilians in Srebrenica when Bosnian Serb forces overran the U.N. safe haven in 1995 and slaughtered up to 8,000 men and boys. U.N. spokeswoman Marie Okabe said Friday that the United Nation had just received the legal documents relating...
  • Tale of last 90 minutes of woman's life [Los Angeles' King Hospital ignores patient to death]

    05/20/2007 10:52:28 AM PDT · by John Jorsett · 176 replies · 4,335+ views
    Los Angeles Times ^ | 20 May 2007 | Charles Ornstein
    In the emergency room at Martin Luther King Jr.-Harbor Hospital, Edith Isabel Rodriguez was seen as a complainer. "Thanks a lot, officers," an emergency room nurse told Los Angeles County police who brought in Rodriguez early May 9 after finding her in front of the Willowbrook hospital yelling for help. "This is her third time here." The 43-year-old mother of three had been released from the emergency room hours earlier, her third visit in three days for abdominal pain. She'd been given prescription medication and a doctor's appointment. Turning to Rodriguez, the nurse said, "You have already been seen, and...
  • Italian scientist works on 'spider-man' suit

    04/27/2007 6:13:56 AM PDT · by bedolido · 3 replies · 244+ views
    abc.net.au ^ | 04-27-2007 | staff writer
    An Italian researcher is working on a project that could lead to the development of a real-life 'spider-man' suit. Nicola Pugno, a 35-year-old researcher at the Polytechnic University of Turin, says he has spent the past 10 years working on a form of adhesion based on the feet of gecko lizards. "It's a field that can have very interesting applications in science, like in space, for example," Mr Pugno said. "An astronaut could use a suit with a suction-cup adhesion system." He estimates the suit could be constructed in another 10 years.
  • Judge Tosses Date-Dissing Web Suit (site warns women about men they've dated)

    04/11/2007 9:01:43 AM PDT · by bedolido · 44 replies · 1,385+ views
    MyWay ^ | 4-11-2007 | JOE MANDAK
    PITTSBURGH (AP) - A Florida-based Web site that invites women to warn others about men they've dated cannot be sued in a Pennsylvania court by an attorney who said its postings falsely claimed he was unfaithful and had sexually transmitted diseases. Allegheny County Common Pleas Judge R. Stanton Wettick Jr. said he had no jurisdiction over the lawsuit Todd Hollis filed last June against DontDateHimGirl.com and its creator, Tasha C. Cunningham, 34, of Miami.
  • "Empty Suit" CARTOON featuring Barack Obama

    03/27/2007 10:03:36 AM PDT · by IPWGOP · 13 replies · 1,539+ views
    IowaPresidentialWatch.com ^ | 3/27/2007 | IPWGOP
      based on the following news story:Is Obama all style and no substance?This cartoon/graphic is free for noncommercial use in emails, blogs, and forums. IowaPresidentialWatch.com