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Monday, May 9, 2011

Y! Alert: Law.com - Newswire


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Judge sides with government in one FCPA case, as count is tossed in another Top
A judge has tentatively refused to dismiss a criminal case against a California company's former executives, rejecting the argument that employees of state-owned companies they are accused of bribing weren't "foreign officials" under the FCPA. In a separate case, a judge threw out a money-laundering count in a trial involving Lindsey Manufacturing.
 
Kaplan Declines to Recuse From Chevron Case Top
A New York judge has refused to recuse himself from a suit brought by Chevron claiming a racketeering conspiracy was committed to win and enforce a multibillion-dollar judgment for environmental damage in Ecuador. Lawyers for "Lago Agrio" plaintiffs who are defendants in the RICO action claimed the judge had prejudged the case in Chevron's favor.
 
Madoff Trustee Picard Drops $3.8 Billion in Claims, Secures Cooperation From Fairfield Feeder Fund Liquidators Top
Irving Picard has announced he's reached his biggest settlement yet with a hedge fund that funneled investments to Bernard Madoff's Ponzi scheme. The agreement is with liquidators for Fairfield Sentry and related funds, the largest of the so-called Madoff feeder funds.
 
Firm Facing Malpractice Suit May Challenge Settlement, Circuit Says Top
The 2nd Circuit has ruled that K&L Gates can challenge part of a settlement between former Teligent CEO Alex Mandl and the bankrupt telecom company's unsecured creditors in order to defend itself against a malpractice suit filed by Mandl.
 
Toyota dealers tell their tales Top
Lawyers in nearly 100 lawsuits against Toyota in California are getting one step closer to trial, with deliberations under way about which case should go first and depositions set to begin of dealers who sold allegedly defective vehicles.
 
Former Glaxo Lawyer Files Motion, Prepares to Open Defense Top
Lauren Stevens, the indicted former in-house lawyer for GlaxoSmithKline, asked a federal judge Monday to acquit her of six criminal charges that she obstructed a federal investigation and made false statements to investigators.
 
Ambac, Underwriters Reach $33 Million Securities Class Action Settlement Top
More than a year after failing to win dismissal of claims that they misrepresented underwriting practices and misled investors in a 2007 mortgage-backed securities offering, Ambac Financial Group and seven bank underwriters have waved the white flag.
 
Day Pitney Takes On Contingency Case for New Mexico Alleging Pay-To-Play Violations Top
It took a four-firm beauty contest and the passage of special-purpose legislation, but Day Pitney is representing New Mexico in two sprawling pay-to-pay lawsuits that target many of the same entities that were implicated in New York's pay-to-play scandal.
 
News In Brief Top
Abbe Lowell has returned to Chadbourne & Parke to head its white-collar defense and special litigation and investigations unit, which he led from 2003 to 2007. He has had the equivalent position at McDermott Will & Emery since leaving Chadbourne.
 
Former SEC General Counsel Rejoins Cleary Gottlieb Top
David Becker has rejoined Cleary Gottlieb after serving as GC and senior policy director at the SEC. Also, Juan Morillo, named in 2007 by The American Lawyer as one of the top 50 litigators in the U.S. under age 45, is joining as partner in the global litigation practice.
 
Alito Tries to Debunk Myths at 3rd Circuit Conference Top
Supreme Court Justice Samuel A. Alito Jr. gave a speech on "The Top 10 Things You May Not Know About the Supreme Court" while appearing at a judicial conference last week. And here's a tip: During holidays, don't ask a justice: "Are you off this week?"
 
News In Brief Top
A man accused of setting up a media office to provide cover for al-Qaida operations and serving as a communications conduit for the group expects to be flown to New York within months to stand trial over al-Qaida's global efforts to kill Americans.
 
3rd DCA rules against Citibank Top
A Florida appeals court has ruled that Citibank violated a condominium association's procedural due process rights because it failed to properly notify the association's attorneys of a hearing to cancel a foreclosure sale.
 
Court Sides with State on Electronic Table Games Tax Top
Pennsylvania's Commonwealth Court has ruled in a case of first impression that the tax rate on revenue generated by fully automated table games is 48 percent, rejecting a casino owner's claim that the Legislature intended the rate to be 14 percent lower.
 

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