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Beleaguered gunmaker Remington points to bankruptcy court
Headline Legal News |
2018/02/13 22:59
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Remington, the gunmaker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it files for Chapter 11 bankruptcy protection.
The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.
The company will attempt to file a prepackaged reorganization plan with the U.S. Bankruptcy Court of Delaware under Chapter 11 of the bankruptcy code.
Remington Outdoor Co., based in Madison, North Carolina, said that business won't be disrupted as it restructures its finances.
Ohio court to hear online charter school's funding case
The survival of one of the nation's largest virtual charter schools is on the line when the Ohio Supreme Court hears arguments Tuesday in a case that could have broader impact on accountability for other e-schools.
The Electronic Classroom of Tomorrow challenges how Ohio tallied students' participation to determine the online school should repay $60 million or more.
The state says ECOT didn't provide data from students' online work to justify the school's full public funding in recent years.
ECOT argues that state law calls for calculating charter-school funding based on enrollment, not participation, and that Ohio's Department of Education effectively changed the criteria without legal authority.
After the state started recouping funding, the e-school of some 12,000 students was abruptly closed last month as it ran out of money.
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Greek court postpones decision in Turkish extradition case
Headline Legal News |
2018/02/05 23:17
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A Greek court postponed ruling Tuesday on a Turkish extradition request for the second of nine Turkish citizens alleged to be left-wing militants and arrested in November, days before an Athens visit by Turkish President Recep Tayyip Erdogan.
Naci Ozpolat, 48, a Turkish citizen of Kurdish origin, is wanted by Turkey on charges of assisting a terrorist organization. He attended the hearing the court ended up adjourning until March 6, saying it needed more information from Turkey.
The nine suspects were arrested for alleged links to the Revolutionary People's Liberation Party-Front, which Turkey, the United States and the European Union have deemed a terrorist organization.
Turkey has charged them with terrorism-related offenses, forgery, arms and explosives possession and resisting arrest. All deny the charges.
A Greek court last week rejected a similar extradition request for the first of the nine on grounds he had been granted refugee status in France. The court said he was at risk of facing torture or other inhumane treatment if he were returned to Turkey.
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Supreme Court sides with police over partygoers in wild bash
Headline Legal News |
2018/01/20 17:10
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The Supreme Court sided Monday with police over partygoers in a dispute about arrests at a 2008 bash at a vacant home that had been turned into a makeshift strip club.
The high court ruled that police had sufficient reason to make arrests at the raucous party, which took place in a District of Columbia duplex furnished only with a few metal chairs and a mattress. Supreme Court Justice Clarence Thomas wrote in an opinion that police reasonably concluded that the revelers "were knowingly taking advantage of a vacant house as a venue for their late night party."
"Most homeowners do not live in near-barren houses. And most homeowners do not invite people over to use their living room as a strip club, to have sex in their bedroom, to smoke marijuana inside, and to leave their floors filthy. The officers could thus infer that the partygoers knew their party was not authorized," he wrote.
Police officers arrived after receiving a complaint about loud music and illegal activities at a home that had been vacant for months. Arriving officers found loud music playing. Inside the home, they smelled marijuana and saw beer bottles and cups of liquor on the floor. Scantily clad women were performing lap dances while wearing cash-stuffed garter belts. Upstairs, officers found a naked woman, several men, open condom wrappers and a bare mattress.
The partiers provided police with inconsistent stories about the bash. Many said it was a bachelor party, but no one could identify the bachelor. Partygoers claimed they'd been invited to the home but could not say by whom. Two people said that a woman named "Peaches" was the party's host, but she wasn't there when police arrived. Reached by phone, Peaches eventually told police she had invited people to the house but didn't have the homeowner's approval to use the place.
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Florida and Georgia taking water fight to Supreme Court
Headline Legal News |
2018/01/08 01:37
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Reminders of the oyster's pre-eminence in this slice of northwestern Florida are everywhere, from the shells that line the edges of downtown buildings to the paintings of oysters that dot the walls of Apalachicola's art and history museum.
It's the oysters themselves that are harder to find these days, and Florida is hoping the Supreme Court can help fix that. The high court hears arguments Monday in the long-running dispute between Florida and neighboring Georgia over the flow of water in the Apalachicola River, which runs from the state line to Apalachicola Bay and the nearby Gulf of Mexico.
Florida sued Georgia in the Supreme Court in 2013, blaming farmers and booming metro Atlanta for low river flows that harmed the environment and fisheries dependent on fresh water entering the area. Florida portrays the case as its last chance to "stem Georgia's inequitable consumption" of water from the Chattahoochee and Flint rivers in Georgia, leaving too little by the time the rivers come together and pass into Florida.
"It is effectively strangling the Apalachicola Region and killing or threatening its animal and plant life," Florida said in its Supreme Court brief. Although the justices usually hear appeals, lawsuits between states start in the Supreme Court.
Georgia said Florida has failed to show that it would benefit from any cuts imposed on Georgia, pointing to the conclusion of a court-appointed special master who recommended that the justices side with Georgia. Georgia also said Florida is asking for unreasonable reductions that would "threaten the water supply of 5 million people in metropolitan Atlanta and risk crippling a multibillion-dollar agricultural sector in southwest Georgia."
Complicating the issue is the absence from the lawsuit of the U.S. Army Corps of Engineers, which manages dams on the Chattahoochee River. |
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North Carolina's altered legislative districts back in court
Headline Legal News |
2018/01/06 21:37
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North Carolina legislative districts are back in court again as federal judges must decide whether to accept proposed alterations by their appointed third-party expert.
A three-judge panel scheduled a hearing Friday in Greensboro to listen to why a Stanford University law professor they hired redrew boundaries the way he did. House and Senate districts drawn by Republican legislators have been in courts since 2011.
The same judicial panel previously struck down 28 districts as illegal racial gerrymanders, ultimately leading GOP legislators last summer to retool their maps. But the judges said there seemed to be lingering problems with race and constitutional violations and brought in a special master.
GOP lawyers already have said they expect to appeal to the U.S. Supreme Court if the judicial panel approves the professor's proposal.
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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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