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High court turns away appeal from former AIG executives
Attorney News |
2016/12/18 09:59
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The Supreme Court won't hear an appeal from two former American International Group executives seeking to avoid civil fraud claims on charges they hid hundreds of millions of dollars in losses from investors.
The justices on Monday let stand a lower court ruling that said former chief executive officer Maurice Greenberg and former chief financial officer Howard Smith must stand trial.
executives of manipulating AIG's accounting records to hide hundreds of millions of dollars in losses from investors.
The state seeks an order banning Greenberg from working in the securities industry or as an executive for any public company. It also is seeking $53 million, including bonuses Greenberg received during the period he is alleged to have manipulated the company's finances.
Greenberg was seen at Trump Tower in New York on Monday. He did not stop to speak with the press.
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US Supreme Court could hear Charleston company, Lexmark case
Attorney News |
2016/12/03 08:42
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A small Charleston company that refills and resells empty toner cartridges could soon be defending itself before the U.S. Supreme Court in a dispute that could affect huge tech companies and pharmaceutical firms.
Lexmark, a Lexington, Kentucky-based printing corporation, sued Impression Products, accusing the company of patent infringement for selling its cartridges, The Charleston Gazette-Mail reported.
At issue is what is known as the first-sale doctrine, a principle limiting a patent holder's rights after a product has been sold once.
Impression Products argued Lexmark's patents on its cartridges are no longer effective after the cartridges are sold, allowing the smaller company to sell them freely. Lexmark cartridges can cost up to hundreds of dollars, and Impression Products sells used ones at a lower price.
In February, a federal court sided with Lexmark, saying the corporation's patent rights weren't exhausted, regardless of whether the cartridges were being purchased from U.S. or foreign suppliers — Impression Products has purchased toner cartridges from Canadian suppliers in the past.
Last month, the federal government recommended the Supreme Court review the case.
Impression Products President Eric Smith explained that while this doesn't guarantee that the justices will review the case, it sharply increases the probability of it happening.
The implications of the case go beyond ink cartridges, as Samsung and Google have backed Impression Products' argument. The tech giants operate foreign supply chains that would have to jump through additional hoops if the first-sale doctrine did not apply for foreign purchases. Pharmaceutical companies such as Pfizer have supported Lexmark, with a Lexmark victory likely giving their own patents greater protection.
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Moscow court orders paper to refute a report on Rosneft CEO
Attorney News |
2016/10/11 22:10
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A court in Moscow has ordered a leading independent newspaper to retract an article about a luxury yacht allegedly owned by the chief of Russia's top state-controlled oil company. retract
The Basmanny District Court ruled Monday that the Novaya Gazeta report linking Rosneft Chairman Igor Sechin to the St. Princess Olga yacht was untrue.
The newspaper used social media and ship tracking data to allege that Sechin was the yacht's possible owner, but the court ruled that the allegations were unfounded.
Sechin has been a close associate of Russian President Vladimir Putin. He served as a deputy prime minister before taking helm of the giant Rosneft oil company.
Last month, another Moscow court ordered the business daily Vedomosti to withdraw a report about a mansion it claimed belonged to Sechin. |
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Egypt court releases lawyer who defied president
Attorney News |
2016/08/27 14:34
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An Egyptian rights lawyer who had been held in solitary confinement for over 100 days after defying President Abdel-Fattah el-Sissi was released from jail Sunday on a court order.
Malek Adly, who was incarcerated on a rolling series of administrative detention orders, was freed after a court rejected an appeal by prosecutors a day earlier that had attempted to hold him longer over accusations that included attempting to overthrow the government.
"We don't know what will happen next — the case is still open and they could try to detain him again," said Adly's lawyer, Mahmoud Belal. "What's important though is that he is out."
Adly's supporters say authorities targeted him over a televised interview in which he objected to el-Sissi's decision in April to hand over two Red Sea islands to Saudi Arabia, implying that such a move was traitorous.
Along with other lawyers, Adly raised a court case against the handover, arguing that the islands were historically Egypt's, as opposed to the government's position that they had always been Saudi territory and were only placed under temporary Egyptian protection.
About two months after Adly was jailed, an Egyptian court backed his legal suit with a June 21 ruling ordering the island transfer canceled. The government has appealed, and the matter now awaits discussion by a new panel of judges.
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Court again says New Jersey can't legalize sports betting
Attorney News |
2016/08/15 10:31
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A federal appeals court on Tuesday dealt another defeat to New Jersey's yearslong attempt to legalize sports betting, setting aside the state's challenge to a federal betting ban.
The 3rd U.S. Circuit Court of Appeals ruling invalidated a law passed by New Jersey in 2014 that would have allowed sports betting at casinos and racetracks. The court found New Jersey's law repealing prohibitions against sports gambling violated the 1992 Professional and Amateur Sports Protection Act, which forbids state-authorized sports gambling.
"Because PASPA, by its terms, prohibits states from authorizing by law sports gambling, and because the 2014 law does exactly that, the 2014 law violates federal law," the court wrote.
Currently, only Nevada offers legal sports betting on individual games. Delaware offers multigame parlay betting in which players must pick several games correctly to win. Both were given exemptions when PASPA was passed.
New Jersey Gov. Chris Christie and supporters in the state Legislature have sought to legalize sports gambling to help prop up the struggling casino and horse racing industries. It's estimated up to hundreds of billions of dollars are bet illegally on sports every year in the U.S.
Monmouth Park, in Oceanport on New Jersey's coast, is the only venue currently set up to offer sports gambling, if it were legalized.
The dispute has a lengthy legal history. New Jersey voters approved legal sports gambling in 2011, but the four major professional sports leagues and the NCAA sued the state the following year. The leagues claimed the expansion of betting to New Jersey would damage the integrity of their games and lead to more game-fixing.
Sports betting supporters have called the leagues' stance hypocritical, saying the leagues condone and profit from sports fantasy leagues in which participants assemble rosters of players from different teams and compete against others.
North Carolina shooting victim's family hires lawyer
The family of a black North Carolina man shot to death in a neighborhood confrontation in Raleigh has hired the lawyer representing two other black men who were killed by white police officers.
State Rep. Justin Bamberg of South Carolina says he is representing relatives of Kouren-Rodney Bernard Thomas.
Thomas was killed Aug. 7 when a white man living two doors down from a neighborhood party called police to complain of "hoodlums" and then fired a shotgun from his garage. Chad Cameron Copley is charged with murder.
Bamberg also is representing the family of Alton Sterling. The Baton Rouge, Louisiana, man was killed last month after he scuffled with two police officers outside a convenience store.
Bamberg also represents the family of Walter Scott, an unarmed South Carolina motorist killed by a North Charleston officer last year. Michael Slager faces state and federal charges. |
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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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