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Kansas Supreme Court to take up school funding case
Court Watch |
2015/11/05 14:36
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A case that has the potential to increase funding for Kansas schools goes before the state Supreme Court today, the same day that economists, legislative researchers and officials in Gov. Sam Brownback’s administration are expected to announce new, more pessimistic revenue projections.
Four districts that are suing the state have asked justices to lift a stay on a lower court ruling and release state funds to public school districts. A three-judge Shawnee County District Court panel found in June that the state’s newly enacted strategy for financing 286 school districts and cuts to state aid for low-income school districts were unconstitutional.
The Supreme Court approved Kansas Attorney General Derek Schmidt’s request for a stay on the order while he pursued an appeal. The state argues in court filings that “doomsday predictions” about students and the state suffering because of how schools are being funded “have proven to be pure hyperbole.”
Education, from K-12 through the collegiate level, is the state’s largest expenditure, accounting for 62 percent of its budget. Any increase in education spending has the potential to create budget havoc when the Legislature reconvenes in January.
Since the current fiscal year began in July, tax collections have fallen about 4.1 percent short of expectations, at $1.8 billion. The state has struggled to balance its budget since Republican legislators slashed personal income taxes in 2012 and 2013 at Brownback’s urging, in an effort to stimulate the economy.
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Romania's outgoing PM appears at court for corruption trial
Legal Marketing |
2015/11/04 14:36
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Romania's outgoing prime minister has appeared at the high court where he's on trial for tax evasion, money-laundering, conflict of interest and making false statements.
Victor Ponta arrived at the High Court for Cassation and Justice Friday, declining comment saying he was now "a private citizen."
Ponta and his Cabinet resigned Wednesday after mass protests following a nightclub fire that killed more than 30. Protesters have staged mass rallies demanding better governance.
The charges Ponta faces refer to a period when he was working as a lawyer. He denies wrongdoing.
Prosecutors say Ponta, who is still a lawmaker, forged expense claims worth at least 181,000 lei ($45,000) from the law firm of political ally. Prosecutors say he pretended he worked as a lawyer to justify getting money from the firm.
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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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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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