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Facebook set to begin trading after $16B offering
Stock Market News |
2012/05/19 09:30
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Facebook is about to find out just how much status updates, puppy photos and billions of "likes" are worth on Wall Street, with CEO Mark Zuckerberg ringing the Nasdaq Stock Market opening bell Friday morning from company headquarters a continent away.
Trading of Facebook's shares has been delayed, but the company's stock was set to begin moving on the Nasdaq a day after the world's definitive online social network raised $16 billion in an initial public offering that valued the company at $104 billion.
The company's valuation is more than Amazon.com's and that of other well-known companies such as Kraft, Walt Disney and McDonald's. It's a big windfall for a company that began eight years ago with no way to make money.
Facebook priced its IPO at $38 per share on Thursday, at the top of expectations. Now, regular investors will have a chance to buy stock in Facebook for the first time. The stock will trade under ticker symbol will be FB.
Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.
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Md. highest court recognizes same-sex divorce
Topics in Legal News |
2012/05/18 21:49
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Maryland's highest court ruled Friday that same-sex couples can divorce in the state even though Maryland does not yet permit same-sex marriages.
The Court of Appeals ruled 7-0 that couples who have a valid marriage from another state can divorce in Maryland. The case involved two women who were married in California and denied a divorce in 2010 by a Maryland judge.
The ruling may have limited effect because same-sex weddings, and by extension divorces, are set to start in the state in January. However, opponents of the law passed this year are seeking to overturn it in a potential voter referendum in November.
"A valid out-of-state same-sex marriage should be treated by Maryland courts as worthy of divorce, according to the applicable statues, reported cases, and court rules of this state," the court concluded in a 21-page ruling.
It said Maryland courts should withhold recognition of a valid foreign marriage only if that marriage is "repugnant" to state public policy. The court says the threshold is a high bar that has not been met in the case that it ruled on.
Lawyers for the women told the Court of Appeals that is would be unprecedented for the state not to recognize gay marriages performed elsewhere.
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Court won't consider giving man new trial
Court Watch |
2012/05/17 21:49
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The Supreme Court won't consider giving a man convicted in the death of a Texas toddler a new trial because the medical examiner changed her opinion on the cause of death.
The high court on Monday refused to hear an appeal from Neil Hampton Robbins, convicted in the death of 17-month-old Tristen Skye Rivet, who died on May 12, 1998.
At the trial, Dr. Patricia Moore testified that Tristen's death was a homicide caused by asphyxia. But Moore later changed her opinion and said the cause of death was undetermined. Robbins asked for a new trial but the Texas Court of Criminal Appeal refused, saying there is no conclusive evidence of Robbins' innocence and that it wasn't proven that the state purposefully used false testimony.
Some patients' fate could hinge on Supreme Court
If the Supreme Court strikes down President Barack Obama's health care law, it wouldn't just be politicians dealing with the fallout.
Nearly 62,000 patients with serious medical conditions would be out of luck.
They're the "uninsurables," people turned away by insurance companies because of medical problems but covered through a little-known program in the law called the Pre-Existing Condition Insurance Plan. The plan would have to shut down if the entire law is invalidated.
Cancer patient Kathy Thomas is worried she'll be uninsured again without the program. The Florida small businesswoman credits the coverage for saving her life this year when she had to be hospitalized with a serious respiratory infection.
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Court rules NY town's prayer violated Constitution
Topics in Legal News |
2012/05/16 21:49
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An upstate New York town violated the constitutional ban against favoring one religion over another by opening nearly every meeting over an 11-year span with prayers that stressed Christianity, a federal court of appeals ruled Thursday.
In what it said was its first case testing the constitutionally mandated separation of church and state, the U.S. Court of Appeals for the Second Circuit ruled the town of Greece, a suburb of Rochester, should have made a greater effort to invite people from other faiths to open monthly meetings. The town's lawyer says it will appeal.
From 1999 through 2007, and again from January 2009 through June 2010, every meeting was opened with a Christian-oriented invocation. In 2008, after residents Susan Galloway and Linda Stephens complained, four of 12 meetings were opened by non-Christians, including a Jewish layman, a Wiccan priestess and the chairman of the local Baha'i congregation.
Galloway and Stephens sued and, in 2010, a lower court ruled there was no evidence the town had intentionally excluded other faiths.
A town employee each month selected clerics or lay people by using a local published guide of churches. The guide did not include non-Christian denominations, however. The court found that religious institutions in the town of just under 100,000 people are primarily Christian, and even Galloway and Stephens testified they knew of no non-Christian places of worship there.
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German sues Macedonia in EU human rights court
Court Watch |
2012/05/15 21:49
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A German who claims the CIA illegally whisked him to a secret prison in Afghanistan appeared before Europe's human rights court Wednesday in what could be the final chapter of a case that has shed light on U.S. practices in the war on terror.
Khaled El-Masri, who is of Lebanese descent, says he was brutally interrogated at a secret CIA-run prison in Afghanistan for more than four months after being kidnapped from Macedonia in 2003, apparently mistaken for a terror suspect. He says he went on a hunger strike for 27 days and was eventually flown back to Europe and abandoned in a mountainous area in Albania.
Having failed with previous legal efforts in Germany, Macedonia and the United States, el-Masri has turned to the European Court of Human Rights as a last resort in the hope that it will declare that Macedonia breached his basic rights, said his lawyer.
"Mr. El-Masri has spent the last eight years seeking legal redress for the crimes that were committed against him," James Goldston told The Associated Press in a telephone interview. "There is abundant evidence including data on CIA flights to and from (Macedonia's capital) Skopje."
Authorities in Macedonia have denied any involvement in el-Masri's alleged kidnapping and sought Wednesday to have the Strasbourg, France-based court dismiss the case. A lawyer representing the small southeast European nation argued that el-Masri was too slow in filing his initial criminal complaint in Macedonia.
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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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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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