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NC regulators hire law firm to probe Duke Energy
Legal Interview | 2012/08/17 11:19
North Carolina utilities regulators said Wednesday they have hired a former federal prosecutor with experience digging into corporate affairs to reveal whether regulators were misled ahead of a takeover that created America's largest electric company.

The North Carolina Utilities Commission said it has hired Anton Valukas and the Jenner & Block law firm, which he heads in Chicago. The ex-prosecutor and his firm are tasked with investigating what happened before regulators approved Charlotte-based Duke Energy Corp. taking over Raleigh-based Progress Energy Inc.

State law allows the costs associated with the utilities commission's investigation to be charged to Duke Energy and its shareholders rather than allowing the company to pass them along to its 3.2 million North Carolina customers.

A Duke Energy spokesman said the company was cooperating with regulators in their investigation.

The company on Wednesday separately sought to begin passing along to Carolinas energy consumers the first $89 million of $650 million in merger-related savings promised over the next five years. If that is approved, the average residential customer in North Carolina and South Carolina could save between 80 cents and 92 cents a month beginning in September.



Lawyer: Portugal denies US appeal for fugitive
Legal Interview | 2011/12/24 16:30
Portugal's Supreme Court has refused a request from the U.S. to extradite American fugitive George Wright, his lawyer said Thursday.

Wright's lawyer Manuel Luis Ferreira said the court rejected an appeal by the U.S. against a lower court's decision that denied extradition a month ago.

"The Supreme Court has denied the appeal," Ferreira told The Associated Press. "They notified me today."

The U.S. can now appeal to Portugal's Constitutional Court if it chooses to.

Ferreira said he did not have details of the ruling. In Portugal, extradition cases are conducted in secret. Ferreira said Wright intends to remain in Portugal.

A Lisbon judge decided against Wright's extradition in November, two months after he was captured in Portugal following four decades on the run.

The U.S. Justice Department filed an appeal less than two weeks later.

Supreme Court officials weren't available to comment after office hours Thursday, and the U.S. Justice Department did not immediately reply to an email seeking comment.

The lower court judge had ruled that Wright, 68, had become a Portuguese citizen and that the statute of limitations on his 15- to 30-year sentence for a robbery-murder in New Jersey had expired, according to Ferreira.


Speaker Boehner: Tax hikes are 'off the table'
Legal Interview | 2011/05/10 09:26

House Speaker John Boehner is insisting tax increases are "off the table" in negotiations with the Obama administration and congressional Democrats on extending the federal debt limit.

The Ohio Republican tells NBC's "Today" show "everything else is on the table." Boehner  appeared a day after telling the Economic Club of New York he wants trillions of dollars in spending cuts as part of legislation allowing the government to continue borrowing beyond the current $14.3 trillion cap.

Boehner says he doesn't think Congress can take money from "some who would invest in our economy" and hand it over to the government. He said, "You can't raise taxes."

Boehner said mandatory spending programs like Medicare and Social Security must be addressed because now "they're unaffordable for our kids and our grandkids."




Ill. gov's legal woes worsen as fundraisers defect
Legal Interview | 2008/12/17 09:12
Jailed political fundraiser Antoin "Tony" Rezko's attorneys sent a strong signal Tuesday that he has resumed his on-again, off-again cooperation with federal prosecutors in the criminal case against Gov. Rod Blagojevich, and another one-time adviser to the governor served notice that he intends to plead guilty to tax charges.

Rezko has been among the Democratic governor's top fundraisers and advisers and can provide prosecutors with a penetrating glimpse into the workings of Blagojevich's inner circle. He was convicted in June of scheming to squeeze companies seeking state business for payoffs.

There were signs that Rezko's relationship with prosecutors had soured in recent weeks. But on Tuesday, both sides agreed to postpone his sentence indefinitely, a sign that prosecutors think their sometimes reluctant witness has more to tell them.

While Rezko squared things with federal prosecutors, attorneys for former Blagojevich campaign chairman Christopher Kelly said he intends to plead guilty to tax charges next month. Among other things, Kelly, a roofing contractor and consultant, is charged with using company funds to pay gambling debts and in at least one case writing the payment off as a business expense.

Kelly could also give the government an inside look at the workings of the Blagojevich administration. But chief defense counsel Michael Monico said Tuesday that "cooperation isn't part of the agreement" under which Kelly will plead guilty.



DA: Criminal charges possible in boy's Uzi death
Legal Interview | 2008/10/29 19:43
A prosecutor said Tuesday he is investigating whether criminal charges should be filed after an 8-year-old boy accidentally killed himself while firing an Uzi submachine gun at a gun fair in western Massachusetts.

Christopher Bizilj (Bah-SEAL) of Ashford, Conn., shot himself in the head when he lost control of the 9mm micro submachine gun as it recoiled while he was firing at a pumpkin. Police have said the shooting at the Machine Gun Shoot and Firearms Expo at the Westfield Sportsman's Club on Sunday was an accident.

Hampden County District Attorney William Bennett said he is investigating whether the gun fair violated the state's firearms law by allowing the boy to fire the machine gun, and also whether it was "a reckless or wanton act to allow an 8-year-old to use a fully loaded automatic weapon."



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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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