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Archive for February, 2008Prosecutors say ex-expert witness will plead guilty to perjury (San Francisco Chronicle)John B. Torkelsen, who made tens of millions of dollars as an expert witness in hundreds of business lawsuits, agreed to plead guilty to a perjury charge for lying about how he was paid in a securities class-action case, prosecutors said. Torkelsen… Prosecutors say ex-expert witness will plead guilty to perjury (Merced Sun-Star)John B. Torkelsen, who made tens of millions of dollars as an expert witness in hundreds of business lawsuits, agreed to plead guilty to a perjury charge for lying about how he was paid in a securities class-action case, prosecutors said. Home builders, Realtors want bill to limit negligence lawsuits (The Salt Lake Tribune)Home builders and Realtors say Senate Bill 220 would reduce frivolous lawsuits. Critics say it strips homeowners of much of their right to sue builders for problems with their dwellings. When State Officials Attack (Law.com)As traditional class actions become a less reliable tactic for attacking business interests, a new one has emerged. Instead of finding a class to represent, plaintiffs lawyers are representing some state attorneys general in cases brought on behalf of the states and their citizens. The resulting lawsuit can pose a new and dangerous threat to defendants. But such lawsuits also have unique … Class action lawsuits filed against Axcelis (Reuters via Yahoo! Singapore News)PHILADELPHIA, Feb 28 – Two class action lawsuits were filed on Thursday against Axcelis Technologies Inc following the semiconductor-equipment maker’s rejection of a $532 million takeover bid from Japan’s Sumitomo Heavy Industries Ltd . Yahoo Suits Mounting in Wake of Microsoft Bid (eWeek)p strong Yahoo says it is facing seven shareholder class-action suits and many distractions in the wake of rejecting Microsoft s 44.6 billion bid. strong p … Free Embedded Linux Webinars 5 free embedded Linux webinars from Timesys. Topics include Toolsets, Boot-Up, Filesystems & more. Swiss Re faces U.S. securities class action suit (Business Insurance)NEW YORK—Law firm Coughlin Stoia Geller Rudman & Robbins L.L.P. has started a class action against Swiss Reinsurance Co., alleging that the company misled shareholders about its financial position between May and November last year. La. attorney general inherits "curious" cases from predecessor (WWL-TV, Channel 4 New Orleans)Louisiana’s new attorney general says he inherited some “curious” cases from his predecessor, Charles Foti, who teamed up with campaign donors on his way out of office to file a pair of multimillion-dollar antitrust lawsuits. Suit alleges Georgia gas companies overcharged (Atlanta Journal-Constitution)Two gas companies facing a possible pricing probe by state regulators now have a new problem. Three Atlanta men filed lawsuits against Georgia Natural Gas and SCANA Energy this week. The lawsuits will seek class action status and triple damages from both marketers, related to the alleged overcharging of longtime customers during 2007. Press Conference of the President (White House News)President Bush on Thursday said, “Members should also act on a very urgent priority, and that is to pass legislation our intelligence officials need to quickly and effectively monitor terrorist communications. At issue is a dispute over whether telecommunications companies should be subjected to class-action lawsuits because they are believed to have helped defend America after the attacks of … Bush urges Congress to pass wiretap bill (Los Angeles Times)The president says legislation is needed to protect telecom companies from costly lawsuits. He also says the economy may be in a slowdown but doesn’t foresee a recession. WASHINGTON — President Bush today urged Congress to pass legislation that would give telecom companies immunity from class-action lawsuits for cooperating with U.S. intelligence services in monitoring terrorist … Yahoo faces 7 cases post Microsoft bid (rediff.com)Microsoft’s unsolicited bid of Yahoo has brought the latter in the midst of a legal storm, as 7 lawsuits have been filed against Yahoo. Lawyers split 275G in beggar lawsuits (New York Daily News)The city’s wealthiest beggar just panhandled another six-figure payday. Beggar Eddie Wise’s lawyers will split $275,000 for helping him win a $100,000 payout from the city in 2006, a Manhattan federal judge has ruled this week. SEC seeks information on Morgan Keegan bond funds (The Tennessean)CHARLOTTE, N.C. — Regions Financial Corp., Alabama’s biggest bank, said the Securities and Exchange Commission asked for information about its Morgan Keegan Select Funds, the target of investor lawsuits. Federal Appeals Court Ruling Could Allow Class Action Lawsuits Against Mortgage Firms (Free Internet Press)A federal appeals court is nearing a decision on a battle between Chevy Chase Bank and a Wisconsin couple that could for the first time enable homeowners across the country to band together in class-action lawsuits against mortgage firms and get their loans canceled. The case is alarming Wall Street’s biggest banks, which could bear the hefty cost of reimbursing all mortgage interest, closing … Expert Panel Moderated by Autonomy ZANTAZ Delivers Best Practices to Prepare for Escalating Subprime Litigation (PR Newswire via Yahoo! Finance)Autonomy ZANTAZ, a leader in the archiving, eDiscovery and Proactive Information Risk Management markets, , today announced electronic discovery best practices to prepare financial institutions for the rise in class-action lawsuits and new State and Federal Government probes and regulatory initiatives anticipated from the subprime crisis. INVESTORSOFFSHORE.COM (Investors Offshore)A new report from European withholding tax and class action services specialist, GOAL Group, shows that between 2000 and 2007, institutional investors’ non-participation in US securities class actions resulted in nearly USD12bn being left on the table. White House Wants Immunity Against State Investigations Too (Electronic Frontier Foundations)The Bush Administration appears to have forgotten that of the dozens of lawsuits over warrantless surveillance, six of them seek to stop “state officials in Missouri, Maine, New Jersey, Connecticut and Vermont from investigating various telecommunication carriers concerning their alleged disclosure of customer telephone records to the National Security Agency (NSA).” Network Solutions Sued Over Domain Tasting (DesignTechnica)A class action lawsuit has been filed against Network Solutions and ICANN over NSI’s policy of temporarily registering domains as soon as someone searches for them. Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuits Have Been Filed Against Municipal Mortgage & … (PRWeb)The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of purchasers of the securities of Municipal Mortgage & Equity, LLC (“MuniMae” or the “Company”) (OTC: MMAB.PK) between May 3, 2004 and January 28, 2008, inclusive (the “Class Period”). (PRWeb Feb 26, 2008) Read the full story at … Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuits Have Been Filed Against Municipal Mortgage & … (Business Wire via Yahoo! Finance)SAN FRANCISCO—-The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of purchasers of the securities of Municipal Mortgage & Equity, LLC between May 3, 2004 and January 28, 2008, inclusive . Supreme Court hears challenge to immunity for drug companies (Macomb Daily)A Michigan law that shields drug companies from lawsuits came under scrutiny in Lansing and Washington on Monday. In the nation’s capital, the U.S. Supreme Court heard arguments in a case that challenges the state’s legal immunity law. Champion insurance suit pending By STEPHANIE HARRIS-SMITH Hope Star Writer (Hope Star)Three law firms have combined forces and are seeking permission to file a class-action lawsuit against Champion Parts, Inc., in bankruptcy to recover insurance premium payments which the company allegedly never made for its employees. ‘Vista Capable’ class action lawsuit gets certified (The Inquirer)A FEDERAL JUDGE in Seattle, Washington certified a lawsuit pending against Microsoft as a class action last Friday, letting plaintiffs pursue claims that the Vole’s labeling of some computers loaded with Windows XP as “Windows Vista Capable” unfairly misled consumers. Millions May Be at Stake in Suit Over Hit NBC Game Show (Law.com via Yahoo! Finance)Text messages, cell phones, TV game shows, Howie Mandel: None of these could have been contemplated by Georgia’s colonial lawmakers when they passed a law allowing gamblers to recover losses through lawsuits. Bearish reality: Eroding stocks lead to litigation (BizJournals)As the stock market began its current swoon in the second half of last year, there was a corresponding and — some would argue — related event: a rise in the number of securities fraud class-action lawsuits. Hot Fuel Lawsuit Proceeds (Convenience Store News)KANSAS CITY, Mo. — A potential class-action lawsuit that claims U.S. oil companies knowingly overcharge customers when fuel temperatures rise passed a hurdle last week, when U.S. District Judge Kathryn Vratil rejected a motion from the named oil companies to dismiss the lawsuit, The Associated Press reported. Tag: lawsuit (ZDNet Australia)Publishing giant Faber & Faber is wiping away the chance of costly lawsuits by using software to purge unlicensed fonts. Open-source fans have had a mixed reaction to Microsoft’s move on last week to share details of its technology with open-source programmers. (Full Story) (WIBW-TV Topeka)(CBS/AP) In his radio address today, President George W. Bush again called for retroactive legal immunity from class action lawsuits initiated against telecommunication companies that participated in the government’s wiretapping program without court-ordered warrants. Bush Again Demands Telecom Immunity (CBS News)In his radio address today, President Bush again called for retroactive legal immunity for telecoms that participated in the government’s warrantless wiretapping program. But how do lawsuits factor into intelligence gathering? | ||
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