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Top U.S. class-action lawyer coming to Canada
Attorney News |
2011/05/10 09:26
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Ontario’s move to allow American-style shareholder class-action lawsuits has attracted a feared and revered Wall Street plaintiffs’ lawyer to the province just as the pendulum is swinging away from similar suits in the United States.
Michael Spencer, a senior partner who sits on the executive committee at Milberg LLP – one of the original class-action firms – is preparing to practise law in Canada.
He was most recently a lead counsel in the Vivendi SA shareholder lawsuit that left the French media company facing an eye-popping $9.3-billion (U.S.) damage award for misleading investors.
The size of that award was reduced by the courts. But Mr. Spencer, who recently led a U.S. class action against a French company on behalf of American, French, British and Dutch investors, is at the epicentre of the globalization of securities class actions.
That epicentre will soon be stationed part-time in the offices of Kim Orr Barristers PC, a Toronto class-action boutique, working on Canadian and cross-border cases.
Mr. Spencer makes no bones about why, at the pinnacle of his career, he is prepared to swap the perks of a privileged life in Manhattan for Toronto. It’s because of Ontario’s Bill 198, enacted in 2005, which allows shareholders who buy stock on the open market to sue if they feel a company misrepresents its financial situation.
Ordinarily, an amendment to provincial securities law would not attract the attention of someone in Mr. Spencer’s ambit, but these are not ordinary times for U.S. class-action lawyers.
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Speaker Boehner: Tax hikes are 'off the table'
Legal Interview |
2011/05/10 09:26
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House Speaker John Boehner is insisting tax increases are "off the table" in negotiations with the Obama administration and congressional Democrats on extending the federal debt limit. The Ohio Republican tells NBC's "Today" show "everything else is on the table." Boehner appeared a day after telling the Economic Club of New York he wants trillions of dollars in spending cuts as part of legislation allowing the government to continue borrowing beyond the current $14.3 trillion cap. Boehner says he doesn't think Congress can take money from "some who would invest in our economy" and hand it over to the government. He said, "You can't raise taxes." Boehner said mandatory spending programs like Medicare and Social Security must be addressed because now "they're unaffordable for our kids and our grandkids." |
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Former Litigator, Steven Weisbrot, Joins Kurtzman Carson Consultants Class Action Team
Law Firm News |
2011/05/10 09:25
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Kurtzman Carson Consultants (KCC), a Computershare company, today announced that Steven Weisbrot has joined the company as Director, Class Action Services. Weisbrot brings nearly a decade of litigation experience to KCC and will be working in the company's New York office. In his new role, Weisbrot will support the company's growth initiatives as a class action litigation expert and member of the business development team. He will also contribute his expertise to key client engagements.
"Steven's knowledge of class action matters makes him a great addition to our team of experts in settlement administration," said Jon Orr, president of KCC. "He joins KCC at a time of significant growth and investment in our people, technology and resources to deliver a higher standard of settlement administration services."
Prior to joining KCC, Weisbrot was an attorney with Lane M. Ferdinand PA, where he was involved in large wage and hour cases. He has also worked with several leading mid-Atlantic firms where he concentrated his practice on complex damages including consumer class actions and general commercial litigation. Weisbrot earned his Juris Doctor from Rutgers University. In 2010 and 2011, he was named one of Thomson Reuters' Super Lawyers' New Jersey's Super Lawyers Rising Stars.
Over the last decade KCC has been committed to delivering best-in-class solutions to its clients. The company's experienced client services team helps guide counsel through the complexities of settlement administration eliminating unnecessary expenses, inefficiencies and inaccuracies. As part of the recent integration with Rosenthal, the expansion of resources and infrastructure, KCC is well positioned to become a leader in the industry.
About KCC
Kurtzman Carson Consultants LLC (KCC) www.kccllc.com, a Computershare company, provides administrative-support services that help legal professionals realize time and cost efficiencies. With an integrated suite of corporate restructuring, class action and legal document management solutions, KCC alleviates the administrative challenges of today's legal processes and procedures. KCC has gained client and industry recognition for its industry expertise, professional-level client service and proprietary technologies.
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Courts nationwide hold hearings with video
Court Watch |
2011/05/09 09:26
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George Villanueva, charged with first-degree murder in the death of an NYPD officer, will not leave jail for months of pretrial hearings.
Instead, he'll be beamed into the courtroom via video as lawyers discuss his case in front of the judge.
Villanueva's case is part of a surge in court appearances done by video in New York and around the country, as cash-strapped communities look for ways to boost efficiency and cut costs. The tools are used in courts large and small, and the savings for some are staggering: $30 million in Pennsylvania so far, $600,000 in Georgia, and $50,000 per year in transportation costs in Ohio.
"We've had to trim our spending wherever we can and still provide what we think is effective constitutional justice, and we're doing that with the help of modern technology," said Pennsylvania State Supreme Court Justice Ronald D. Castille.
Advocates say the virtual hearing is easier on defendants, who don't have to get up at 4 a.m. to be shuttled with other criminal suspects to court, only to wait hours standing and handcuffed for an appearance. Judges say their cases are moving faster. And civil liberties groups say the practice raises no red flags.
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Insurer settles suit with former USU frat members
Headline Legal News |
2011/05/02 09:08
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A Georgia insurance company that paid a wrongful death claim on behalf of a former Utah State University fraternity has settled the lawsuit it brought against four of the fraternity's members.
The Herald Journal of Logan reports that attorneys for RSUI Inc. told a 1st District Court judge the company had resolved a dispute with the four men. Court records show attorneys met with the judge April 20 — one day before a planned hearing.
RSUI sought $50,000 each from Sigma Nu pledge Chad Burton and chapter officers Cody Littlewood, Colton Hansen and Mitchell Alm as compensation for a settlement payment to the parents of Michael Starks.
Starks died Nov. 21, 2008, from alcohol poisoning after a fraternity event.
At the time, RSUI was the insurer for the fraternity and its members, including pledges. RSUI attorneys have acknowledged that both the company and the four defendants would have been jointly liable to Starks' parents, George and Jane Starks of Salt Lake City. The company claims it paid the full amount of a settlement with the Starks, although those terms have not been made public.
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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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