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NJ court rules against son in Plain estate dispute
Headline Legal News |
2011/07/26 09:05
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A New Jersey court has ruled against the son of Belva Plain in a dispute over the late author's estate.
John Plain had claimed his mother, the bestselling author of more than 20 novels, and sisters had schemed to cut him out of her will.
Attorneys for Belva Plain's estate argued that her son had signed an agreement in the 1990s vowing not to contest her will.
Friday's decision in state Superior Court in Essex County dismissed John Plain's claim. Plain's lawyer said he was reviewing the decision.
Belva Plain began writing her novels after raising her children and becoming a grandmother. When she died in her sleep last fall at her home in New Jersey at age 95, more than 28 million copies of her books were in print.
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Class action over L.A. telephone tax may proceed, court rules
Headline Legal News |
2011/07/26 01:11
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A class action lawsuit against the city of Los Angeles for a refund of potentially hundreds of millions of dollars in telephone taxes may proceed as a result of a unanimous ruling Monday by the California Supreme Court.
The ruling, written by Justice Ming W. Chin, upheld the right of citizens to bring class actions against municipal governments for collection of allegedly illegal taxes.
The decision will affect similar lawsuits against Los Angeles County, Long Beach and Chula Vista, lawyers in the case said. The suits claim that the governments have illegally taxed telephone users. The tax appears on phone bills.
The case against L.A. was filed in 2006. The city argued that the taxpayers should have filed individual claims for refunds before bringing a class action and won in the trial court and the appeals court.
As a result of Monday's ruling, "It's possible we will consider bringing actions against other jurisdictions," said Frank Gregorek, who argued the case for the taxpayer. The class that would recover funds would include all residents who paid the taxes.
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France, Germany in last-ditch crisis talks
Headline Legal News |
2011/07/20 01:30
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The eurozone's economic powers are struggling to agree on a new debt crisis plan to present at an emergency EU summit, with Germany downplaying calls from France and Brussels for a big announcement that could boost market confidence and contain the turmoil. French President Nicolas Sarkozy was flying to Berlin on Wednesday afternoon in an apparent last-minute bid to strike a deal with Chancellor Angela Merkel on some kind of new aid package for Greece. The stakes are high. Markets have been extremely volatile over the past weeks on fears the crisis might spread to larger countries like Italy. The International Monetary Fund warned that leaders must do more to keep debt troubles from poisoning the entire continent's economy. Germany and France will discuss "all the options on the table and agree, if possible, on a joint position," said Merkel's spokesman, Steffen Seibert. Germany is optimistic that Thursday's summit will agree on "a good solution that will move us forward," he added. But he reiterated Merkel's stance that the talks will not yield a "spectacular solution" that fixes Greece's problems quickly, but will be merely a stepping stone in a longer process. Merkel had said there would be no decision to restructure Greece's debt or create eurobonds that link debt across countries. |
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Bernanke: Fed ready to act if economy worsens
Headline Legal News |
2011/07/13 11:43
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Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday the Fed is ready to act if the economy gets weaker. He warned them that allowing the nation to default on its debt would send "shock waves through the entire financial system."
Underscoring how fragile the economy remains two years after the Great Recession, Bernanke laid out three new steps the Fed could take, including a fresh round of government bond purchases designed to stimulate economic growth.
"We have to keep all the options on the table. We don't know where the economy is going to go," Bernanke told the House Financial Services Committee.
The Fed chairman stopped short of promising anything, but Wall Street appeared comforted that the central bank was poised to act. The Dow Jones industrial average was up more than 150 points during his testimony to Congress, and closed up 45.
But some of the early stock gains were lost after Richard Fisher, president of the Federal Reserve Bank of Dallas, said in a speech that the Fed had already "pressed the limits of monetary policy."
The nation was creating about 200,000 jobs a month this spring. But hiring slowed almost to a standstill in June, with 18,000 new jobs. It takes about 125,000 a month just to keep up with population growth.
While Bernanke made his twice-yearly appearance before Congress, lawmakers and the White House were trying to salvage talks on how to reduce the federal deficit and whether to raise the limit on what the government can borrow.
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Illinois Supreme Court upholds public works plan
Headline Legal News |
2011/07/12 09:27
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The Illinois Supreme Court has unanimously upheld a law that created a $31 billion statewide construction program, averting a threat to the thousands of jobs the projects created.
The decision also removes a roadblock to allowing video gambling at bars, restaurants and truck stops across Illinois.
The court on Monday unanimously rejected arguments that lawmakers improperly mixed different issues in a single law.
Lawmakers approved the public works program in 2009, deciding to fund the construction by raising taxes on liquor and candy, as well as legalizing video gambling.
Chicago Blackhawks owner and liquor distributor Rocky Wirtz challenged the law. An appeals court agreed with him that it violated a requirement that laws be limited to one topic. The Supreme Court said it all was connected to the construction program.
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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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