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Wal-Mart Uses Class Action Against Netflix
Court News |
2011/09/08 09:20
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Wal-Mart is using its failed class action lawsuit with Netflix to attract new users to its video streaming service, Vudu.
A federal court in California agreed late last week to allow Wal-Mart to pay $27.5 million to 40 million Netflix subscribers. The kicker? They can make the payment in the form of gift cards for Walmart.com. As a result, this also gives Wal-Mart access to Netflix's customer database.
The class action suit came in response to a dinner meeting in 2005, where the CEOs of Netflix and Wal-Mart allegedly agreed to share the DVD market. According to consumer advocates, under the pact, Wal-Mart agreed not to rent DVDs if Netflix promised not to sell them. Class action suits were filed against both companies in 2009, claiming that this agreement violated antitrust laws.
While Wal-Mart decided to settle the case, Netflix is still fighting the allegations, claiming the suit "has no merit."
Wal-Mart's settlement, which still has to be finalized in February 2012, comes as the discount giant is in the process of aggressively promoting its Vudu service, which it acquired in February 2010. At the same time, Netflix is in dire need of an image cleanup, following several unfriendly consumer moves, including a recent price hike and the falling out of its Liberty Starz deal.
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NY pair face judge in deadly pharmacy robbery
Court News |
2011/09/07 09:21
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A New York couple charged in a prescription drug robbery that left four people dead is expected to enter guilty pleas to all charges against them.
A law enforcement official tells The Associated Press that David Laffer and his wife, Melinda Brady, were due to admit their roles in the Father's Day massacre in a Long Island courtroom on Thursday morning. Laffer is charged with first-degree murder in the June 19 holdup at Haven Drugs in Medford. Brady faces robbery charges for allegedly driving the getaway car.
The official is familiar with the case but was not authorized to speak publicly.
Two employees died, along with two customers who walked in on the carnage, which was captured on store video surveillance. Police said Laffer fled with hydrocodone-type painkillers.
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Colombia court reinstates conviction in Galan hit
Court News |
2011/09/01 09:38
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The Supreme Court on Wednesday reinstated the murder conviction of a former justice minister for masterminding the 1989 assassination of presidential candidate Luis Carlos Galan, a courageous foe of drug cartels.
The court also reinstated the 24-year prison sentence a lower court imposed in 2007 on Alberto Santofimio, who was widely considered the "political godfather" of the late cocaine kingpin Pablo Escobar.
Hitmen employed by Escobar killed Galan, and a key witness in Santofimio's trial said he saw the defendant urge Escobar to order the murder.
"Kill him, Pablo," testified John Jairo Velasquez, or "Popeye," who was Escobar's chief henchman at the time and has confessed to organizing the assassination.
Santofimio, a senator who had been justice minister in the 1970s, was at the time a rival of Galan for the Liberal Party's presidential nomination.
The Aug. 18, 1989, assassination badly traumatized a nation already reeling from a terror campaign by Escobar's henchmen, who killed hundreds of judges, journalists and police. Escobar also targeted civilians with car bombs, even blowing up an airplane in midflight.
The drug kingpin was trying to pressure Colombia's leaders not to extradite drug lords to the United States. Nonetheless, Galan, the presidential frontrunner when he was killed, promised to battle the narcos with extradition.
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BofA sued over $1.75 billion mortgage trust
Court News |
2011/08/30 09:29
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Bank of America Corp was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the largest bank to buy back all of the loans in the trust because of alleged misrepresentations.
The banking unit of US Bancorp said Countrywide Financial Corp, which issued the loans in the HarborView Mortgage Loan Trust 2005-10, breached its obligations by misrepresenting the quality of its underwriting and loan documentation.
It said that because of this material breach, Bank of America, which bought Countrywide in 2008, was obligated to buy back all the loans in the mortgage pool.
The lawsuit was filed in the New York State Supreme Court in Manhattan.
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RI 'Survivor' winner won't get free lawyer
Court News |
2011/08/26 10:10
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A Rhode Island judge is refusing to grant free legal counsel to help the winner of the first season of the CBS reality show "Survivor" appeal a nine-month prison sentence.
Judge William Smith on Thursday rejected 50-year-old Richard Hatch's request for a court-appointed attorney to help him fight the sentence handed down in March for violating the terms of his supervised release by failing to settle his tax bill.
Hatch, of Newport, spent more than three years in prison for not paying taxes on his $1 million "Survivor" winnings. He was released in 2009 and ordered to refile his 2000 and 2001 taxes and pay what he owed. Smith ruled he never did and returned him to prison.
Hatch, who claims he is "destitute," is scheduled to be released in December.
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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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