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US appeals court sides with Trump in lawsuit involving hotel
Stock Market News |
2019/07/11 11:23
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A federal appeals court threw out a lawsuit accusing President Donald Trump of illegally profiting off the presidency through his luxury Washington hotel, handing Trump a significant legal victory Wednesday.
A three-judge panel of the 4th U.S. Circuit Court of Appeals unanimously overturned the ruling of a federal judge in Maryland who said the lawsuit could move forward.
The state of Maryland and the District of Columbia sued in 2017, claiming Trump has violated the emoluments clause of the Constitution by accepting profits through foreign and domestic officials who stay at the Trump International Hotel. The case is one of three that argue the president is violating the provision, which prohibits federal officials from accepting benefits from foreign or state governments without congressional approval.
In the case before the 4th Circuit, the court found the two jurisdictions lack standing to pursue their claims against the president, and granted a petition for a rare writ of mandamus, directing U.S. District Court Judge Peter Messitte to dismiss the lawsuit.
Trump heralded the decision in a tweet, saying, "Word just out that I won a big part of the Deep State and Democrat induced Witch Hunt." Trump tweeted that he doesn't make money but loses "a fortune" by serving as president. |
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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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