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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 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 ^ | 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 ^ | 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...