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Administration supports lesbian employee's case
Headline Legal News |
2011/07/02 00:11
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In a strongly worded legal brief, the Obama administration has said the federal act that defines marriage as being between a man and a woman was motivated by hostility toward gays and lesbians and is unconstitutional.
The brief was filed Friday in federal court in San Francisco in support of a lesbian federal employee's lawsuit claiming the government wrongly denied health insurance coverage to her same-sex spouse.
The Justice Department says Karen Golinski's suit should not be dismissed because the law under which her spouse was denied benefits — the Defense of Marriage Act — violates the U.S. Constitution's guarantee of equal protection.
"The official legislative record makes plain that DOMA Section 3 was motivated in large part by animus toward gay and lesbian individuals and their intimate relationships, and Congress identified no other interest that is materially advanced by Section 3," the brief reads, referring to the section in the act that defines marriage as being between a man and a woman.
Though the administration has previously said it will not defend the marriage act, the brief is the first court filing in which it urges the court to find the law unconstitutional, said Tobias Barrington Wolff, a law professor at the University of Pennsylvania.
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Lawyer: Mladic to boycott court appearance
Court Watch |
2011/07/01 00:12
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Former Bosnian Serb military chief Ratko Mladic plans to boycott Monday's hearing at the Yugoslav war crimes tribunal, where he is scheduled to enter pleas to charges including genocide, his Serbian lawyer said.
Mladic is boycotting to demand the power to choose his own defense attorneys, lawyer Milos Saljic said.
"Mladic has decided not to attend the court session to insist on his defense team choice," Saljic told The Associated Press.
The court in the Hague, Netherlands has asked for more time to vet the list of lawyers Mladic has submitted to verify their qualifications and eligibility. Saljic said that Mladic wants him and a Russian lawyer.
Mladic was extradited to the tribunal from Serbia on May 31 after being captured following 15 years as a fugitive. He is charged with orchestrating atrocities committed by Serb forces throughout the 1992-95 Bosnian war. He faces a maximum life sentence if convicted.
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BofA Near $8.5B Deal to Settle Big Investors' Claims
Securities Class Action |
2011/06/28 22:24
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Bank of America Corp. is close to finalizing a deal to pay $8.5 billion to settle claims by a group of investors that the bank sold them poor-quality mortgage-backed securities that went sour when the housing market tanked, according to a person familiar with the settlement talks.
The Charlotte, North Carolina, bank was continuing talks late Tuesday with the group, which includes the Federal Reserve Bank of New York, Pimco Investment Management, the world's largest bondholder, and Blackrock Financial Management. It is expected to announce an agreement as early as Wednesday, the person said on condition of anonymity because the matter was still developing.
The deal comes eight months after the group fired off a letter to Bank of America demanding that it repurchase $47 billion in mortgages that its Countrywide unit sold to them in the form of bonds. The investors have argued that Countrywide's practice of modifying loans found to have faulty paperwork or those written outside of normal underwriting standards breached signed agreements with the investors. By continuing to service bad loans rather than speeding up foreclosures, the group has claimed that Countrywide ran up servicing fees, enriching itself at the expense of investors. The New York Fed is involved because it took over assets held by American International Group Inc., which faltered under the weight of bad home loans that it insured.
Bank of America, which paid $4 billion for Countrywide in 2008, has dismissed suggestions that its handling of loan modifications and other efforts to prevent foreclosure have violated the terms of the mortgage-backed securities that the investors hold. In November, CEO Brian Moynihan said he was in day-to-day "hand-to-hand combat" with investors' demands.
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Strong Nike earnings help lead stocks higher
Stock Market News |
2011/06/28 12:24
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After weeks of worries about the economy pulled stocks down, indexes have risen sharply for two days in a row. The Dow Jones industrial average rose more than 140 points Tuesday, thanks in part to signs that concerns of a global slowdown may be overblown. Quarterly results from Nike Inc. bested analysts' expectations and sent its stock up 10 percent. That helped lead to a rally in stocks of clothing stores, restaurants and jewelers. Such companies tend to do well when consumers are less worried about things like high gas prices and are willing to spend on themselves. Other industries that do well during periods of economic expansion led the stock market higher. Caterpillar Inc., one of the 30 stocks that make up the Dow, gained the most, rising 3 percent. Industrials gained 1.5 percent overall. Consumer discretionary companies gained 1.9 percent. Both sectors are still well below their highs for the year. Industrials and consumer companies have lost 5.8 percent and 3.6 percent, respectively, since peaking on April 29. The Dow gained 145.13 points, or 1.2 percent, to 12,188.69. The Standard & Poor's 500 index rose 16.57, or 1.3 percent, to 1,296.67. The Nasdaq composite index added 41.03, or 1.5 percent, to 2,729.31. All three indexes are down more than 3 percent for the month. Signs that the housing market is improving helped lift Home Depot Inc. It's sales benefit when consumers spend money on home improvement. Home Depot gained 2.4 percent following a report that home prices rose in April in 13 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. The index rose for the first time in eight months thanks to an annual push to buy homes in the spring. |
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Denver jury acquits Xcel Energy in workers' deaths
Court Watch |
2011/06/28 11:25
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Xcel Energy Inc. and its Colorado subsidiary were acquitted of criminal charges Tuesday in the deaths of five workers at a hydroelectric plant tunnel in the mountains west of Denver. After nearly three days of deliberations, a jury in Denver's U.S. District Court acquitted the Minneapolis-based utility and Public Service Co. of Colorado of five counts of violating federal safety regulations, including not having a rescue plan. The workers were trapped in the Cabin Creek plant tunnel near Georgetown, about 40 miles west of Denver, when a flammable solvent they were using to clean an epoxy paint sprayer ignited Oct. 2, 2007. The workers communicated via radio for 45 minutes with colleagues and rescue crews. Reaching them would have involved using ropes or ladders to go down a 20-foot vertical section of tunnel, then along a 1,000-foot section at a 55-degree slope, to reach a horizontal section where the workers were. Rescuers tried lowering air tanks to the trapped workers, but the workers were overcome by smoke and fumes. Killed were Donald Dejaynes, 43, Dupree Holt, 37, James St. Peters, 52, Gary Foster, 48, and Anthony Aguirre, 18, all of California. Federal prosecutors had argued that Xcel knew about dangerous conditions deep inside the power plant tunnel and violated U.S. safety regulations. Xcel attorney Cliff Stricklin insisted the utility followed the law and that California-based contractor RPI Coating Inc., which employed the workers, was responsible for their safety. Xcel and Public Service Co. each had been charged with five counts of violating Occupational Safety and Health Administration regulations. If convicted, each company could have faced fines of up to $2.5 million. |
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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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