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Pa. appeals court upholds $188M Wal-Mart verdict
Headline Legal News |
2011/06/24 11:28
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A $188 million class-action verdict against Wal-Mart Stores Inc. and Sam's Club over payment to employees for rest breaks and off-the-clock work was upheld Friday by a Pennsylvania appeals court.
A three-judge Superior Court panel said there was sufficient evidence at trial to conclude there had been a breach of contract, unjust enrichment and violations of state labor laws.
The judges also ruled in a 211-page opinion that the presiding Philadelphia judge erred in determining some of the plaintiffs' legal fees, and sent that part of the case back for recalculation.
The 2006 trial, which lasted 32 days, resulted in a finding that Wal-Mart did not pay employees for all the work they performed and did not let them take their paid, mandatory rest breaks, the judges wrote. The court awarded $46 million in attorneys' fees.
Wal-Mart spokesman Greg Rossiter said the retail giant believes the court decision was wrong in a number of respects and looks forward to additional review in the courts.
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Casino owner cited in complaint against Ala. judge
Headline Legal News |
2011/06/23 22:29
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A casino owner accused of buying votes in Alabama for pro-gambling legislation is cited in a judicial complaint against a former state judge, who's accused of letting a gambling lobbyist bankroll her re-election campaign while she was handling a custody dispute involving the casino owner's grandchildren.
An attorney for VictoryLand casino owner Milton McGregor said Tuesday that he did nothing wrong and the complaint filed against former District Judge Patricia Warner of Montgomery is based on errors.
"It's reckless and somebody is going to have to answer for that," defense attorney Joe Espy said Tuesday outside the federal courthouse.
The 72-year-old McGregor is in the third week of a trial where he and eight others are accused of buying and selling legislators' votes for pro-gambling legislation with campaign contributions. The legislation was designed to keep McGregor's now-closed VictoryLand casino in Shorter operating.
Late Monday afternoon, the state's Judicial Inquiry Commission filed a complaint against Warner, a Democrat who resigned unexpectedly last week less than six months into her second term. The 74-count complaint accuses Warner of judicial misconduct in several cases, including the one involving an effort by McGregor's former son-in-law to regain visitation rights with McGregor's grandchildren.
The complaint will be heard by the Alabama Court of Judiciary, which can sanction her if it finds her guilty of misconduct and impose financial penalties. A spokesman for the state pension system said Warner qualifies for state retirement benefits. The amount was not immediately available.
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FTC to issue subpoenas in Google antitrust probe
Headline Legal News |
2011/06/23 15:39
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A published report says federal regulators are preparing to issue subpoenas to Google and other companies as authorities gather information for a broad antitrust probe into the Internet search leader's business practices. The Wall Street Journal reported Thursday that the Federal Trade Commission will issue subpoenas "within days," which would signal that it has opened a formal investigation. The FTC is looking into whether Google abuses its dominance of Internet search to extend its influence into other lucrative online markets, such as mapping, comparison shopping and travel. Rivals complain that Google Inc., which handles two out of every three Internet searches in the U.S., manipulates its results to steer users to its own sites and services and bury links to competitors. Google and the Federal Trade Commission refused to comment Thursday. The European Commission and the Texas attorney general have already opened investigations into whether Google uses its enormous clout as a major gateway to the Internet to stifle competition online. The EU launched its investigation after competitors -- U.K.-based price comparison site Foundem, French legal search engine ejustice.fr and Microsoft-owned shopping site Ciao -- complained that their services were being buried in Google search results. |
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Fed proposes expanding capital reviews to 35 banks
Headline Legal News |
2011/06/10 23:50
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The Federal Reserve wants a broader group of banks to provide details each year about their finances, part of an effort to ensure banks can meet their capital requirements and avoid another financial crisis.
The Fed currently requires the nation's 19 largest banks to submit capital plans annually. The proposal unveiled Friday would expand the list to the 35 largest banks by requiring firms with assets of $50 billion or more to submit annual plans.
Capital is the amount of reserves that a bank holds as a cushion against losses. If the Fed determines a bank doesn't have adequate capital, it can order it to stop paying dividends to stockholders. The central bank is taking comments on the proposal through August and has plans to implement it by January.
The financial overhaul law passed last year directed federal regulators to do a better job monitoring the level of capital that banks keep on hand. Banks have been fighting many of the more stringent controls being imposed under last year's legislation. They contend the tighter rules are not necessary and will restrict their ability to make loans.
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US investigating Google claim of China hacking
Headline Legal News |
2011/06/01 09:05
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Authorities in the United States are investigating a Google claim that hackers in China stole email details of senior U.S. government officials -- an issue that illustrates the problem of attribution in cyberspace, the coordinator for cyber issues at the U.S. State Department said Thursday.
Google disclosed Wednesday that personal Gmail accounts of several hundred people, including senior U.S. government officials, military personnel and political activists, had been breached. The company said it traced the origin of the attacks to Jinan, China, the home city of a military vocational school whose computers were linked to an assault 17 months ago on Google's systems. China has said it does not support hacking.
"The issue of attribution and knowing whether a state or non-state actors are involved is a huge problem in cybersecurity," Christopher Painter, coordinator for cyber issues for the State Department, told The Associated Press on the sidelines of a cybersecurity conference in London. He declined further comment on the Google claim.
Yuan Xu of the Internet Society of China, an industry group, defended her country's actions against phishing -- the type of attack that Google says was used against its users. Phishing fools users into giving their personal details to rogue websites.
She declined to comment on the specifics of the Google case, saying she didn't know enough about it, but noted that the CNCERT -- one of China's Internet watchdogs -- regularly shares the addresses of suspected phishing websites with its international partners.
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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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