The court rejected an argument it considered hogwash.
The Seventh Circuit today declined an invitation to correct, judicially, a glaring mistake by Congress.
The appeal involved an attempt to undo a remand of a class action to state court. The defendant, Vertrue, removed it under the Class Action Fairness Act, but the district court remanded
The Ninth Circuit — per Chief Judge Alex Kozinski — yesterday upheld a class action complaint alleging securities fraud. The opinion aptly described the feat as "something much harder now than in days gone by." Whiting v. Applied Signal Technology, Inc., No. 06-15454 (9th Cir. June 5, 2008).
The complaint alleged that Applied Signal
The Supreme Court of New Jersey today ordered dismissal of claims that sought, on behalf of a class of people who took pain-killer Vioxx, recovery for the cost of monitoring them for signs of injury. The Court said:
We hold that the definition of harm under our Products Liability Law (PLA), N.J.S.A. 2A:58C-1 to -11,
A federal judge today sentenced Melvyn Weiss to 30 months in prison, Bloomberg reports. Mr. Weiss must also pay a $250,000 fine and forfeit another $9.75 million.
The sentencing comes two months after the former name partner in Milberg Weiss Bershad Hynes & Lerach pleaded guilty to participating in a racketeering conspiracy.
Bloomberg also
People come up all the time — usually lawyers but sometimes small children too — and ask "Blawgletter, what else will come out this Term from the U.S. Supreme Court?" (The tykes say "Mr. Blawgletter".) "Having to do with business law, I mean", they clarify.
Fancy that! As if Mr. Blawgletter has time to
OPEC spans the globe.
With the market price of West Texas Intermediate crude oil hovering just above $125 a barrel and regular gasoline prices spiking above $4.00 a gallon, your ordinary American citizen wants to know who to blame. Count Blawgletter as one of them.
We can speculate about causes. Does the lack of new
Thom Weidlich at Bloomberg reports that "[a]t least 24 proposed class actions have been filed since mid-March against brokerages over claims investors were told the [auction rate] securities were almost as liquid as cash." The cases stem from the collapse of auctions that supplied liquidity for ARSs in February. Investors could no longer sell the
Bribery doesn’t necessarily add up to securities fraud.
What happens to a company that pays $420,000 in unlawful consulting fees to a state senator whose legislative committees oversees the company’s activities? Good government?
What about when the truth outs? Can you say plunge in price per share?
A 42-month series of $10,000 payments to a
Will the ALI opt for baby steps on new aggregate settlement principles?
Remember that 1L who talked in class all the time? The one whose hand shot up even if the prof hadn’t asked a question? The gunner who made you wish Socrates kept his method to himself?
Every law school section had an individual
Blawgletter wrote this comment to the American Law Institute last week:
Congratulations on your excellent progress towards making Principles of the Law of Aggregate Litigation a reality. I appreciate and commend your dedication to such a challenging project.
So I ask your indulgence for my suggestion of what I see as an improvement to a