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Courts nationwide hold hearings with video
Court Watch |
2011/05/09 09:26
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George Villanueva, charged with first-degree murder in the death of an NYPD officer, will not leave jail for months of pretrial hearings.
Instead, he'll be beamed into the courtroom via video as lawyers discuss his case in front of the judge.
Villanueva's case is part of a surge in court appearances done by video in New York and around the country, as cash-strapped communities look for ways to boost efficiency and cut costs. The tools are used in courts large and small, and the savings for some are staggering: $30 million in Pennsylvania so far, $600,000 in Georgia, and $50,000 per year in transportation costs in Ohio.
"We've had to trim our spending wherever we can and still provide what we think is effective constitutional justice, and we're doing that with the help of modern technology," said Pennsylvania State Supreme Court Justice Ronald D. Castille.
Advocates say the virtual hearing is easier on defendants, who don't have to get up at 4 a.m. to be shuttled with other criminal suspects to court, only to wait hours standing and handcuffed for an appearance. Judges say their cases are moving faster. And civil liberties groups say the practice raises no red flags.
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Court sides with Wyoming in dispute with Montana
Court Watch |
2011/05/02 09:07
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The Supreme Court says Wyoming is not taking too much water from a river system it shares with Montana.
The high court on Monday turned away Montana's complaint that Wyoming is taking too much water from the Tongue and Powder rivers in violation of a 1950 agreement between the states.
Montana claimed that more efficient irrigation in Wyoming is preventing runoff from rejoining the river and flowing downstream.
Justice Clarence Thomas wrote the 7-1 decision, which says more efficient irrigation is permissible to the detriment of downstream users. Justice Antonin Scalia was the only dissenting vote.
Justice Elena Kagan did not participate in the case because she worked on it while in the solicitor general's office. |
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$30M award in lawsuit against Neb. broker
Court Watch |
2011/04/28 03:32
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A federal judge awarded $30 million Monday to more than 200 investors who claim they were defrauded by a pair of Nebraska City brokers.
The decision came in a class-action lawsuit filed in 2007 by former clients of Rebecca Engle and Brian Schuster in U.S. District Court in Omaha. It accuses them of improperly selling risky investments.
The $30 million judgment was against Schuster, a former Nebraska football player, and some of his investment firms. It does not include Engle.
J.L. Spray, an attorney for the investors, said Tuesday that he was pleased with the judge's decision but "it leaves the question of how much of this we'll be able to collect."
Schuster, who has since moved to Vermillion, S.D., is representing himself in court. A number listed for him rang unanswered Tuesday.
Spray said the case against Engle has been put on hold pending her bankruptcy case in Arizona.
Schuster, 37, is scheduled to stand trial next month in state court on eight counts of security fraud. Engle, 57, has pleaded guilty to two counts and awaits sentencing. Several lawsuits and arbitration claims have been filed against them.
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2 charged with insider trading involving law firms
Court Watch |
2011/04/06 09:34
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Federal authorities have charged two men with running an insider trading scheme that netted more than $30 million with information stolen from law firms.
Garrett Bauer is scheduled to appear in U.S. District Court in Newark, N.J., on Wednesday afternoon. Matthew Kluger will make his first appearance in federal court in Alexandria, Va. They're accused of trading on inside information stolen from Wilson Sonsini Goodrich & Rosati, a law firm with offices in Washington, D.C., New York, San Francisco and Hong Kong. Authorities also allege the decades-long scheme used information stolen from prominent New York law firms Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom. |
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Credit Suisse to pay $70m to settle suit
Court Watch |
2011/03/11 12:51
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Credit Suisse has agreed to pay $70 million to settle a class-action suit by investors claiming it misstated its subprime asset losses.
In an agreement filed in Manhattan, the Swiss bank said it would settle with investors who purchased United States depositary shares of the company’s stock on the New York Exchange between February 15, 2007 and April 14, 2008. US residents who purchased Credit Suisse stock on the Swiss stock exchange during the period are also included. The settlement must be approved by the court.
Defendants had alleged that during the period in question, Credit Suisse and some of its executives, including chief executive Brady Dougan, issued “materially false and misleading statements regarding the company's business and financial results”.
Specifically, they alleged that Credit Suisse “concealed the company’s failure to write down impaired securities containing mortgage-related debt”.
In the settlement, Credit Suisse said it continued to “deny all charges of wrongdoing or liability”. However, the bank said it concluded that “further continuation of the action would be protracted and expensive”.
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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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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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