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High court rejects ex-stockbroker's appeal in fraud case
Securities Class Action |
2015/11/03 08:17
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The Supreme Court turned away an appeal from a former Toronto stockbroker convicted in a multimillion-dollar securities fraud who says federal prosecutors should have turned over documents that might have helped his defense.
The justices Monday let stand an appeals court ruling that said prosecutors didn't have to share information about the drug use of a key witness against George Georgiou. The lower court sided with prosecutors who said defense lawyers could have discovered the publicly available records on their own.
Georgiou's lawyers said prosecutors had a duty to disclose the information if they were aware of it. Several former Justice Department officials backed his claim and urged the court to take the case.
Georgiou was convicted on charges of manipulating markets of four stocks, causing $55 million in losses.
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High court won't hear appeal on mortgage ratings
Court News |
2015/11/03 08:17
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The Supreme Court won't hear an appeal from shareholders who claim the Standard & Poor's ratings firm made false statements about its ratings of risky mortgage investments that helped trigger the financial crisis.
The justices on Monday let stand a lower court ruling that threw out a lawsuit filed by the Boca Raton Firefighters & Police Pension Fund against S&P's parent company, McGraw-Hill.
A federal appeals court ruled 2-1 that statements about the integrity and credibility of S&P's credit ratings used routine, generic language that did not mislead investors.
The shareholders argued that false statements regarding a central aspect of the company's business were enough to violate federal securities laws.
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Supreme Court troubled by DA's rejection of black jurors
Court Watch |
2015/11/03 08:16
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The Supreme Court signaled support Monday for a black death row inmate in Georgia who claims prosecutors improperly kept African-Americans off the jury that convicted him of killing a white woman.
Justice Stephen Breyer likened the chief prosecutor to his excuse-filled grandson. Justice Elena Kagan said the case seemed as clear a violation "as a court is ever going to see" of rules the Supreme Court laid out in 1986 to prevent racial discrimination in the selection of juries.
At least six of the nine justices indicated during arguments that black people were improperly singled out and kept off the jury that eventually sentenced defendant Timothy Tyrone Foster to death in 1987.
Foster could win a new trial if the Supreme Court rules his way. The discussion Monday also suggested that a technical issue might prevent the justices from deciding the substance of Foster's case.
Georgia Deputy Attorney General Beth Burton had little support on the court for the proposition that prosecutor Stephen Lanier advanced plausible "race-neutral" reasons that resulted in an all-white jury for Foster's trial. Foster was convicted of killing 79-year-old Queen Madge White in her home in Rome, Georgia.
Several justices noted that Lanier's reasons for excusing people from the jury changed over time, including the arrest of the cousin of one black juror. The record in the case indicates that Lanier learned of the arrest only after the jury had been seated. "That seems an out and out false statement," Justice Ruth Bader Ginsburg said.
Breyer drew an analogy with a grandson who was looking for any reason not to do his homework, none of them especially convincing.
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Woman charged in slayings of Connecticut couple due in court
Court News |
2015/11/02 08:17
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A Connecticut woman accused of conspiring with her boyfriend to kill his parents when they were considering cutting him out of their will is scheduled to make her first court appearance.
Jennifer Valiante of Westport is expected to be arraigned Monday in Bridgeport Superior Court on charges including conspiracy to commit murder and hindering prosecution. It's not clear if she has a lawyer.
Her boyfriend, 27-year-old Kyle Navin of Bridgeport, is facing murder charges in the slayings of his parents, Jeanette and Jeffrey Navin of Easton. His arraignment hasn't been set. His lawyer declined to comment.
The Navins disappeared Aug. 4 and their bodies were found Thursday in Weston.
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German court: former SS Auschwitz guard fit for trial
Stock Market News |
2015/11/02 08:17
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A German court says a 93-year-old former SS sergeant charged with 170,000 counts of accessory to murder on allegations he served as an Auschwitz death camp guard has been declared fit for trial.
The Detmold state court said Monday a doctor determined that Reinhold H., whose last name wasn't given for privacy reasons, is fit to stand trial so long as sessions are limited to two hours per day.
Defense attorneys and prosecutors now have two weeks to submit responses to the expert opinion. The court will then decide whether to open a trial.
H. is accused of being an accessory to murders at Auschwitz from January 1943 to June 1944. The suspect says he was assigned to a part of the camp not involved in the mass murders.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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