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BofA investor lawsuit wins class-action status
Court Watch |
2012/02/08 09:42
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Investors suing Bank of America Corp won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co and the size of Merrill's losses and bonus payouts.
U.S. District Judge P. Kevin Castel in Manhattan on Monday rejected the second-largest U.S. bank's argument that the investors could not prove they suffered losses by relying on materially misleading statements or omissions.
Among the other defendants who were also sued and opposed class certification were former Bank of America Chief Executive Kenneth Lewis, former Merrill Chief Executive John Thain, former Bank of America Chief Financial Officer Joe Price, and Bank of America's board of directors.
Lewis had won initial praise for saving Merrill from possible collapse when he agreed to buy it on September 15, 2008, the day Lehman Brothers Holdings Inc went bankrupt.
But investors later faulted the bank for not disclosing the scope of Merrill's soaring losses, which reached $15.84 billion in the fourth quarter of 2008, before December 2008 shareholder votes on the merger. They also objected to Merrill's having paid $3.6 billion of bonuses despite the losses.
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Hawaii Marine sergeant court-martialed for hazing
Legal Business |
2012/02/07 10:09
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A Hawaii-based Marine sergeant is being court-martialed on accusations that he hazed a member of his squad by ordering him to dig a foxhole as punishment for falling asleep on watch duty in Afghanistan.
Sgt. Benjamin Johns is one of three Marines accused of hazing Lance Cpl. Harry Lew of Santa Clara, Calif. Lew committed suicide April 3 after prosecutors say he endured several hours of abuse.
Prosecutors say Johns had no authority to punish a Marine by ordering him to dig a foxhole. They say ordering the dig made Johns derelict of his duty to ensure the welfare of Marines under his care.
Johns' defense team says the sergeant wasn't trying to punish Lew, and the new foxhole was supposed to help Lew stay awake.
The court-martial begins Tuesday at a Marine base in Kaneohe Bay.
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Palm Beach Construction Law Attorney
Law Firm News |
2012/02/06 10:00
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Palm Beach Construction Law Attorney
Heitman Law Firm serves its clients by first comprehending the specific issues our clients face and then tailoring our representation to those specific needs. Construction law cases often involve legal, technical, engineering, design, constructability and scheduling issues. We speak the language of construction. We understand your business. We know how to read a set of plans. Our client service is based on the idea that the client should not be required to pay to
bring us up to speed on the construction issues. Instead, we make it our business to be ahead of the learning curve.
Our law firm's Florida construction law practice includes the following areas:
• Land Use Planning
• Permitting
• Bid Preparation
• Bid Protests
• Contract Drafting
• Contract Review
• Contract Negotiation
• Contract Administration
• Design-Build Contracts
• Contract Claims Preparation
• Contract Dispute Resolution
• Alternative Dispute Resolution (ADR)
• Dispute Review Board Hearings
• Administrative Hearings
• We represent both domestic and international clients
• Private Construction Projects
• Public Construction Projects
• Projects Nationwide
• Design Professional Negligence
Heitman Law Firm combines experience and efficiency in construction law to render their clients high quality legal representation. With years of experience building real world construction projects, Mr. Heitman is an expert in construction law and efficiently resolve construction disputes. Visit www.palmbeachconstructionlaw.org for more information. |
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Izard Nobel LLP Announces Class Action
Court Watch |
2012/02/06 09:59
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The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Cablevision Systems Corporation between February 16, 2011 and October 28, 2011, inclusive (the "Class Period").
The Complaint alleges that Cablevision and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) that Cablevision was experiencing higher retention and advertising costs; (ii) that Cablevision was losing more video customers than expected, especially in the New York area -- the Company's main service area -- due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On October 28, 2011, Cablevision announced its financial results for the third quarter of 2011, the period ended September 30, 2011. On that same day, Cablevision held a conference call with analysts and investors to discuss the earnings announcement and the Company's operations, including the Company's subscriber loss. In reaction to the Company's announcement, the price of Cablevision stock fell $2.17 per share, or 13%, to close at $15.14 per share.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/cablevision |
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Norway mass killer demands medal at court hearing
Headline Legal News |
2012/02/06 09:59
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The right-wing extremist who has admitted killing 77 people in the worst peacetime massacre that Norway has ever seen told a court Monday that he deserves a medal of honor for the bloodshed and demanded to be set free.
Anders Behring Breivik smirked as he was led in to the Oslo district court, handcuffed and dressed in a dark suit, for his last scheduled detention hearing before the trial starts in April. He stretched out his arms in what his lawyer Geir Lippestad said was "some kind of right-wing extremist greeting."
Reading from prepared remarks, the 32-year-old Norwegian told the court that the July 22 massacre — carried out with a bomb, a rifle and a handgun — was a strike against "traitors" he said are embracing immigration to promote "an Islamic colonization of Norway."
Like in previous hearings, Breivik admitted to setting off the bomb outside the government headquarters in Oslo and opening fire at a Labor Party youth camp on Utoya island, outside the capital, but denied criminal responsibility and rejected the authority of the court.
About 100 survivors and relatives of victims watched in disbelief, as Breivik asked to be released, and told the judge he should receive a military honor for Norway's most deadly peacetime attacks.
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