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LimeWire settles out of court with major record labels
Headline Legal News |
2011/05/13 09:28
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File-sharing software company LimeWire, which shut down last year after being barred from allowing people to share copyright-protected files online, reached a $105 million out-of-court settlement with the major record labels Thursday, the labels said.
In a statement, Recording Industry Association of America Chairman Mitch Bainwol said his group, which represents the labels, is pleased with the settlement.
“The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators,” he later added.
LimeWire, which had enabled people to share songs and other files over the Internet, had been fighting the RIAA for several years.
The RIAA argued LimeWire’s software encouraged illegal sharing of copyrighted music. Last May LimeWire was found liable of copyright infringement, with a trial to follow early this year. That trial started last week.
In October, LimeWire received a federal injunction forcing it to disable key functions of its software. At that time, the company said it would continue developing a new service that would include a desktop player, mobile apps and a catalog of music from which people could legally stream and download songs.
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Ex-Georgia bank exec to be sentenced for fraud
Headline Legal News |
2011/05/11 09:26
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A former Georgia bank executive who pleaded guilty to using customers and family members in a multimillion-dollar fraud conspiracy that led to his bank's downfall is scheduled to be sentenced to prison.
Randy Jones could face at least 12 years in prison on Wednesday when he is sentenced in federal court. Three others who have pleaded guilty to conspiring with Jones are also set to be sentenced.
Jones, 50, pleaded guilty in January to receiving kickbacks for real estate loans while he was an executive vice president at Community Bank & Trust, the failed Cornelia-based bank where he worked for 30 years.
The hearing started Tuesday but attorneys spent the day in court arguing over how much restitution Jones should pay and how much time he could face behind bars.
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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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US Supreme Court imposes limits on class actions
Headline Legal News |
2011/04/28 09:32
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The Supreme Court on Wednesday limited the ability of people to combine forces and fight corporations together when they want to dispute contracts for cell phones, cable television and other services, a move consumer advocates called a crushing blow.
In a 5-4 ideological split, the high court's conservatives said businesses can block their customers from using class actions. The court said the federal arbitration law trumps state laws that invalidate contracts banning class actions.
The decision came in a dispute between AT&T Mobility and a California couple who objected to being charged around $30 in sales tax for what they were told was a free cell phone.
Businesses commonly require arbitration clauses in consumer contracts to protect them from facing their customers in court. The Supreme Court's decision means that corporations now won't need to worry about consumers, shareholders or even employees banding together and fighting them using lawsuits or arbitration, consumer groups said.
"Now, whenever you sign a contract to get a cell phone, open a bank account or take a job, you may be giving up your right to hold companies accountable for fraud, discrimination or other illegal practices," said Deepak Gupta, a Public Citizen lawyer who argued the case.
Sen. Patrick Leahy, D-Vt., chairman of the Senate Judiciary Committee, said the decision would hamper the rights of consumers to be protected by state laws.
"Class actions are an effective way to ensure consumer protection, but today's opinion by the Roberts court continued to move in a direction that undermines this access to justice for hard-working Americans," Leahy said.
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Court hears arguments in Microsoft patent case
Headline Legal News |
2011/04/19 08:38
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The Supreme Court on Monday heard arguments from Microsoft Corp. asking it to overturn a $290 million patent infringement judgment against the world's largest software maker, a ruling that could have a profound effect on how corporations protect and profit from their future inventions. An eight-justice court on Monday heard arguments from the Redmond, Washington-based Microsoft, which wants the multimillion dollar judgment against it erased because it claims a judge used the wrong standard. Business groups are closely watching this case. The U.S. government made more than $64 billion off of international licensing and royalties from patents in 2009, with an expected growth rate of 15 percent a year. A ruling for Microsoft could make companies less likely to invest in new inventions, but a ruling for i4i, the company which brought the lawsuit against Microsoft, could make it harder for large corporations to fight off such challenges. |
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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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