New YorkRSS

  • November 5, 2007

    Tower Judge Asked To Nix $78K In Akin Gump Fees

    The U.S. trustee overseeing Tower Automotive Inc.'s Chapter 11 proceedings is asking the court to pare down Akin Gump Strauss Hauer & Feld LLP's fees by $77,788, arguing the firm's work for an ad hoc bondholders committee in the bankruptcy's early stages doesn't entitle it to payment from the estate.

  • November 2, 2007

    Mediator Named In Pacific Lumber Case

    A court on Thursday said that Judge Barbara Houser, a bankruptcy judge in Texas, should serve as the mediator in the bankruptcy case of Pacific Lumber Co.

  • November 2, 2007

    Enron Subsidiaries' Claims Unresolved: British Bank

    Standard Chartered Bank is seeking roughly $2.7 million from the reorganized Enron Corp. for claims against several former Enron subsidiaries. The claims were allegedly not resolved in 2005, when SCB agreed to release Enron itself from a debt of $24.5 million.

  • November 2, 2007

    Joint Makers Paid More Than $200M In Kickback Probe

    The five major makers of artificial joints revealed that they have paid more than $200 million so far this year to doctors and hospitals as part of an agreement with the U.S. Department of Justice.

  • November 2, 2007

    SEC Launches Merrill Lynch Probe: Report

    In the wake of Merrill Lynch Inc.'s disclosure that it will write down $8 billion due to subprime mortgage exposure, the U.S. Securities and Exchange Commission has reportedly decided to take a closer look at the way the investment bank values its mortgage-backed securities.

  • November 2, 2007

    Openwave Options Backdating Case To Move Forward

    Although she threw out part of the case, a judge has said that a shareholder lawsuit alleging telecommunication software provider Openwave Systems Inc. engaged in illegal backdating of stock options can move forward.

  • November 2, 2007

    Suit Says Sojitz Discriminates Against Non-Asians

    The former chief internal auditor of Japan-based Sojitz Corp. of America filed a proposed class action lawsuit against the company Thursday alleging he was discriminated against because he is not Asian.

  • November 2, 2007

    Iwasaki Loses Edge In Appeal Of Lamp Patent Case

    U.S. Philips Corp. has gained some ground from its appeal of a lower court’s decision in favor of Japanese rival Iwasaki Electric Co. Ltd., which was accused by U.S. Philips of infringing its patent related to mercury vapor discharge lamps.

  • November 2, 2007

    Cohen Milstein Expands With London Office, Partners

    Plaintiffs class action firm Cohen, Milstein, Hausfeld & Toll PLLC has expanded significantly, adding two new offices and several new partners in the past six months to enhance the firm’s abilities and talent particularly in the securities and antitrust areas.

  • November 2, 2007

    Court Waits As M. Fabrikant Statement Is Revised

    A ruling on the whether or not to approve the disclosure statement describing a Chapter 11 liquidation plan in M. Fabrikant & Sons Inc.'s bankruptcy proceedings has been postponed for the second time this week.

  • November 2, 2007

    Ex-NBC Producer Who Raised Ethics Flag Loses Suit

    NBC Universal Inc. did not violate employment laws when it fired a producer who claimed the television show “To Catch a Predator” overstepped ethical boundaries, a district court judge has ruled, tossing the journalist's $1 million lawsuit.

  • November 2, 2007

    High Court To Analyze Municipal Bond Issue

    The U.S. Supreme Court will hear oral argument Monday in a case that will decide whether states can tax their own municipal bonds more favorably than out-of-state bonds.

  • November 2, 2007

    Wal-Mart Puts Foot Down On Rising Legal Fees

    Wal-Mart Stores Inc. might be the first big corporation to openly declare a moratorium on starting salary hikes for its outside firms' associates. But according to experts, in-house counsel across all industries share its anxieties.

  • November 2, 2007

    Wackenhut Files RICO Suit Against Union

    Security company Wackenhut Corp. has filed suit against the Service Employees International Union, accusing the union of taking part in a racketeering scheme in an effort to force Wackenhut to recognize SEIU as the exclusive bargaining representative of its employees.

  • November 2, 2007

    Dockworkers Union Gets RICO Mob Suit Thrown Out

    A judge has tossed a government racketeering suit that implicated a dockworkers' union, its pension fund and its executives in the alleged New York waterfront operations of Mafia crime syndicate La Cosa Nostra, saying the suit failed to plead any conspiracy among the defendants.

  • November 1, 2007

    Solutia Secures $2B In Exit Financing

    Moving one step closer to emerging from Chapter 11 bankruptcy protection, Solutia Inc. has secured exit financing, receiving commitments from several underwriters to provide $2 billion to pay creditors.

  • November 1, 2007

    Chinese Solar Co. Hit With Suit Over IPO

    Securities plaintiffs attorneys are beginning to circle solar power provider China Sunergy Co. Ltd., with Coughlin Stoia Geller Rudman & Robbins LLP becoming the latest to file a purported class action over the energy company's initial public offering in May.

  • November 1, 2007

    Harry Potter And The Infringement Lawsuit

    The author of the Harry Potter novels and the studio that has released the films sued a small publisher in an effort to deploy an avada kedavra spell — that's the killing curse, for the uninitiated — on a soon-to-be published companion encyclopedia.

  • November 1, 2007

    Judge Reluctantly Allows FERC's Amaranth Action

    While expressing sympathy for Amaranth Advisers LLC's situation, a federal judge refused to halt the Federal Energy Regulatory Commission's administrative action against the defunct hedge fund even as a similar lawsuit brought by the U.S. Commodities Futures Trading Commission remains pending.

  • November 2, 2007

    Anadarko Win Could Mean Billions In Losses For U.S.

    A federal judge has ruled that the U.S. Department of the Interior overstepped its authority when it directed Kerr-McGee Oil & Gas Corp. to pay royalties on oil and natural gas from eight deepwater leases in the Gulf of Mexico.