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Layoffs loom in Ala. court clerks' offices
Topics in Legal News |
2011/08/01 01:59
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A month-long notice has begun for massive layoffs in state court clerks' offices.
The Birmingham News reports that court officials say about one-third of the 750 employees in clerks' offices statewide will be laid off effective Aug. 31.
The officials say the layoffs are timed so the 255 workers will be off the state payroll before the court system's new, leaner budget takes effect Oct. 1.
The Jefferson County clerk's offices, which handle more than 75,000 filings per year, will be down to 48 full-time clerks and three temporary workers after the layoffs.
Chief Justice Sue Bell Cobb has ordered clerks' offices statewide to be closed to the public for 10 hours weekly starting in August to give the workers time to catch up on processing court documents.
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Court upholds Chinese journalist's jail sentence
Topics in Legal News |
2011/08/01 01:01
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The lawyer for a Chinese journalist behind bars after writing about suspected corruption says a court has rejected an appeal against a new sentence ordered just before the reporter was to be released.
Beijing attorney Wang Quanzhang says he received on Monday the decision on the case of reporter Qi Chonghuai by a court in Shandong province.
Wang says the case sets a dangerous precedent because Qi was being tried a second time in June on similar charges to those which he faced in 2008. Qi was near the end of a four-year jail term when the second trial resulted in another eight years' imprisonment.
Rights groups say Qi was arrested in 2007 after he wrote about a local official who had beaten a woman for coming late to work.
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Gridlock over raising debt limit weighs on stocks
Stock Market News |
2011/07/26 09:12
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The debt gridlock in Washington is causing more worries on Wall Street.
Stocks fell Tuesday as U.S. lawmakers remained in a bitter stalemate over raising the country's borrowing limit. Republican and Democratic lawmakers have offered competing proposals to avoid a catastrophic default on the government's debt. A resolution appears a long way off. If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay its bills.
Industrial companies led stocks lower after earnings reports from UPS, 3M and U.S. Steel raised concerns that the economy is weakening.
In midday trading, the Dow Jones industrial average is down 62 points, or 0.5 percent, at 12,530. The Standard & Poor's 500 is down 3, or 0.3 percent, at 1,334. The Nasdaq composite is flat at 2,843.
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UPS sticks with its outlook as 2Q earnings rise
Stock Market News |
2011/07/26 09:12
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UPS said on Tuesday that the sluggish U.S. economy will continue to impact its results, but it will grow earnings by raising prices and improving volume overseas.
In a conference call with analysts, CEO Scott Davis said the global economy is still recovering at an uneven pace, with strength in China and Europe outpacing other areas. And while fuel prices have come down and production issues in Japan appear to be clearing up, high unemployment and weak consumer confidence continue, and U.S. debt issues add to the uncertainty.
Talk of ongoing weakness in UPS' core domestic market unnerved investors. Shares fell $3.57, or 4.8 percent, to $70.45 in midday trading after losing as much as 6 percent earlier in the session.
Still, the world's largest package delivery company maintained its outlook for the year. It expects adjusted earnings of $4.15 to $4.40 per share, implying growth of 17 to 24 percent from 2010. The upper end is above Wall Street's expectations. Analysts, on average, predict earnings of $4.34 per share.
In the second-quarter, UPS earned $1.06 billion or $1.07 per share, compared with year-ago earnings of $845 million, or 84 cents per share.
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Calif Supreme Court rules on illegal local taxes
Headline Legal News |
2011/07/26 09:11
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Ruling in a Los Angeles case, the California Supreme Court has ruled taxpayers can file class-action claims when seeking refunds from cities and counties for illegal local taxes.
Monday's unanimous ruling overturns lower-court rulings requiring taxpayers to file individual refund claims.
In class action claims, an individual can win damages for an entire group of people affected by the same unlawful action.
The San Francisco Chronicle says Estuardo Ardon sued the city of Los Angeles in 2006, claiming a city telephone tax was illegal because it was linked to a federal excise tax that had been ruled invalid. The suit seeks millions of dollars in refunds for all phone customers in the city.
But the case has remained on hold while state courts determined whether Ardon can represent a group.
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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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