Verdicts & Settlements Archives - Page 174 of 177

NLRB Claims Lack of Jurisdiction, Dismisses Northwestern Football Players’ Petition to Unionize

Staff - August 18, 2015

In the dismissal, the NLRB wrote, “the Board held that asserting jurisdiction would not promote labor stability due to the nature and structure of NCAA Division I Football Bowl Subdivision (FBS).” The NLRB wrote that the dismissal is specific to this particular petition saying, “This decision is narrowly focused to apply only to the players in this case and does not preclude reconsideration of this issue in the future.”

Two Citigroup Subsidiaries reach $180 Million Hedge Fund Fraud Settlements

Staff - August 17, 2015

As part of to the settlements, Citigroup does not admit, nor deny the SEC charges. The proceeds of the agreement will be diverted to investors who were harmed by the funds. Both investments were sold through Citigroup Private Bank as well as through Smith Barney. Citigroup spokesperson Danielle Romero-Apsilos said in an emailed statement, “We are pleased to have resolved this matter,” although offering little elaboration.

Connecticut High-Court Rules against Death Penalty

Staff - August 14, 2015

The Connecticut legislature voted in 2012 to abolish the death penalty, however, that measure only affected future crimes committed in the state. Calling it unconstitutional, Associate Justice Richard Palmer wrote the majority opinion, stating that the death penalty “no longer comports with contemporary standards of decency and no longer serves any legitimate penological purpose.”

New York’s “Responsible Banking” Law Ruled Unconstitutional

Staff - August 11, 2015

In U.S. District Court in Manhattan on Monday, Judge Katherine Polk Failla issued New York’s mayor Bill De Blasio a notable defeat of a law intended to regulate the community-mindedness of the many financial institutions that inhabit the city. New York’s city council passed the Responsible Banking Act (RBA) in 2012, requiring banks in the

Florida Governor Settles Public-Records Transparency Lawsuit…Again

Staff - August 9, 2015

Recently re-elected Republican Florida Governor Rick Scott agreed to terms with Tallahassee attorney Steven Andrews regarding a dispute over public records disclosure involving a property close to the governor’s mansion. Andrews sued Scott in 2012 after the governor stated his intent to use state funds to buy a building near a property known as “The

Appeals Court Rules Cell Phone Location Data Protected by Fourth Amendment, Causing Split

Staff - August 6, 2015

On Wednesday, a three-judge panel from the 4th Circuit Court of Appeals in Richmond, Virginia ruled that the Fourth Amendment requires law enforcement officials to obtain a warrant before searching historical location data from a person’s cell phone. The case involved defendants Aaron Graham and Eric Jordan, who were accused of several Baltimore-area robberies. The

Goldman Sachs Tentatively Agrees to $270 Million Settlement as Mortgage Security Litigation Winds Down

Staff - August 5, 2015

Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to

U.S. Prosecutors Ask Supreme Court to Review Newman Insider Trading Ruling

Staff - July 31, 2015

New York-based U.S. Attorney Preet Bharara may be the greatest prosecutor who ever lived. From the Bernie Madoff scandal to Toyota, to a large portion of the New York state legislature; he has left a historic level of convictions and penalty awards. This includes a remarkable streak of 85 consecutive insider trading convictions before losing

Former Executive Could Face Life for Peanuts

Staff - July 24, 2015

7/24/2015 The U.S. Probation Office has recommended that the former owner of Peanut Corporation of America, Stewart Parnell, be sentenced to life in prison for allowing several shipments of peanuts from facilities infected with salmonella. The peanuts led to the deadliest food outbreak in U.S. history from 2008-2009, causing nine deaths and over 700 illnesses

JP Morgan Agrees to $388 Million Class-Action Settlement for Mortgage-Backed Securities Dealings

Staff - July 19, 2015

On Friday, banking giant JP Morgan Chase agreed to a $388 million settlement to resolve a class-action lawsuit claiming that the company misled investors regarding the stability of $10 billion worth of mortgage-backed securities (MBS). The lead plaintiff in the case was the Fort Worth employees’ retirement fund, along with others including the Northern and Southern

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