CashCall Inc.’s founder and CEO earned a $1 million salary and at least $2.5 million annually in interest for loans he made to the company, he testified Wednesday in the Consumer Financial Protection Bureau’s $287 million suit accusing the lender of illegally offering subprime loans through a firm based on tribal land.
A California bankruptcy judge on Wednesday appeared close to approving a multimillion-dollar settlement between Bank of America Corp. and a family that won a $46 million judgment after being plunged into “a Kafkaesque nightmare” by an illegal foreclosure, even as he derided the deal as a “hostage situation” in court.
A federal grand jury indicted Nippon Chemi-Con Corp. for participating in a long-running conspiracy to fix prices for electrolytic capacitors, the U.S. Department of Justice announced Wednesday.
Bayer asked a California federal judge Wednesday to toss a putative class action over the labeling of Bayer AG’s One-A-Day vitamins, saying that the whole case rested on the contention the pills had no value, but that he’d gotten the plaintiffs’ own expert to admit the vitamin “is not worthless.”
Federal prosecutors asked a California federal judge Wednesday to hold an evidentiary hearing on how much Google Inc. should pay in sanctions while it appeals a court-ordered search warrant, arguing the internet giant’s offer to pay $10,000 per day if the appeal fails doesn’t have “significant teeth.”
The California Supreme Court announced Wednesday it will not lower the score required to pass the state’s bar exam, the second highest in the nation, while asking the state bar and law schools to investigate the factors behind a recent drop in pass rates.
Corel Corp. asked a California federal judge Wednesday to nix some damages estimates proposed by Microsoft Corp. in its suit over infringement of nine software patents, saying one estimate overstates how much it would have cost Corel to design its home office software in a noninfringing way.
The Ninth Circuit ruled Wednesday that a trial court was right not to apply an international treaty that seeks to curb racial bias to a handful of cases in which employees of an Army hospital in Hawaii claimed they were discriminated against based on their races under Title VII, letting stand the dismissal of the workers' claims.
Disgraced yogi Bikram Choudhury could get slapped with a $3.6 million default judgment in a wrongful termination suit from an ex-employee, who says she was fired for getting pregnant, after a California judge on Wednesday requested more information to back up the request.
Three African-American former Tesla workers say they were consistently the target of racial slurs and faced discrimination at a California factory, according to a suit recently filed in state court.
A California federal judge Tuesday refused to ship to arbitration a network device maker’s suit over a hotel entertainment company’s alleged $11 million in unpaid royalties from a patent licensing deal, finding it wasn’t “absurd” to interpret the companies’ arrangement as bypassing an earlier arbitration clause.
A California federal judge on Tuesday ordered a Kentucky man and his day-trading company to pay nearly $1.7 million to the U.S. Securities and Exchange Commission as part of an agreement to resolve claims that they lied to investors in a futures trading scheme.
Customers suing Charles Schwab Corp. urged the Ninth Circuit Wednesday to revive two proposed class actions alleging the brokerage violated its duty to them by sending trades to UBS Securities when better prices were available elsewhere, arguing the suits are not barred by federal securities law.
Mintz Levin Cohn Ferris Glovsky and Popeo PC has hired a former Foley & Lardner LLP intellectual property partner who has represented a range of pharmaceutical, technology and medical device companies, bolstering its national IP practice, the firm said recently.
A California federal judge on Tuesday threw out most of a defunct taxi company’s claims that Uber Technologies Inc. is running an unlicensed, unregulated taxi service that unfairly competes with “authentic” taxis, but asked the parties to provide more information about the claims that remain.
Local, state and federal authorities Tuesday asked the Delaware bankruptcy court to deny Venoco LLC permission to abandon two California oil pipelines and more than a dozen offshore and onshore drilling operations, saying the company has not taken the steps to safely shut them down.
Federal judges in California and New York on Tuesday ordered the Trump administration to produce a broad range of internal documents detailing how the government reached the conclusion last month to phase out the Deferred Action for Childhood Arrivals program.
A California federal judge on Tuesday threw out what was left of a proposed class action accusing Time Warner Cable Inc. of forcing dispatchers to work through meal and rest breaks, concluding that the named plaintiffs, moving forward after class certification was denied, couldn't show they were denied breaks.
Deutsche Asset Management is said to have picked up a California warehouse for $27.2 million, Maxx Properties has reportedly scored a $41.3 million loan for a Phoenix multifamily purchase and Jamestown is said to have picked up a Florida grocery-anchored shopping center for $34.25 million.
E.A. Renfroe & Co. Inc., a company that helps insurers manage claims during disasters, will get another shot at forcing a proposed wage-and-hour class action into arbitration after a Ninth Circuit panel ruled Tuesday a district judge jumped the gun in nixing an arbitration agreement in its entirety, as some parts are severable.
Clients are beginning to expect and even demand that their external lawyers provide advice that is tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.
In U.S. v. Dish Network, currently on appeal to the Tenth Circuit, the district court awarded statutory damages of $280 million in favor of the U.S. and the four plaintiff states. Buried among the thousands of pages of interlocutory orders issued by the district court is a warning that should be heeded by all parties that are the subjects of governmental investigations, say attorneys with Troutman Sanders LLP.
International human rights laws and norms are increasingly helping to shape how energy companies conduct business all over the world. Businesses in the energy sector need to undertake systematic human rights due diligence, starting from the senior leadership and working through all levels of the supply chain, say Viren Mascarenhas and Kayla Green of King & Spalding LLP.
When a witness says one thing in a deposition, but later offers an affidavit directly contradicting the prior testimony, with no credible explanation, the U.S. Supreme Court has held that the affidavit should be disregarded. James Beck of Reed Smith LLP offers a survey of significant medical product liability cases in which both plaintiffs' experts and plaintiffs themselves have contradicted their own prior statements.
In their new book, "The Judge: 26 Machiavellian Lessons," do Ronald Collins and David Skover prove their thesis that hypocrisy is the key to judicial greatness? Some of the examples they present are hard to dispute, says Judge Alex Kozinski of the Ninth Circuit.
Financial Crisis Anniversary
After nearly a decade of recession-accelerated change in the legal industry, “merit-based” compensation has largely come to mean measuring attorney success using some combination of origination and working attorney hours metrics. However, there are signs that the real impact of the recession is still around the corner, and that building a book isn’t enough, says Peter Zeughauser of Zeughauser Group.
Last week California Gov. Jerry Brown signed Senate Bill 63 into law to provide up to 12 weeks of job-protected parental leave for employers with 20 or more employees. Signing of the bill follows previous unsuccessful efforts to extend job-protected leave to smaller employers not covered by the federal Family and Medical Leave Act or the California Family Rights Act, says Benjamin Ebbink of Fisher Phillips.
While it lends more than $100 million each year to our nation’s college students — including law students — the U.S. Department of Education surprisingly limits loan counseling to one-time entrance counseling for first-time student borrowers. Is this rational? asks Christopher Chapman, president of AccessLex Institute, a nonprofit focused on access to legal education.
Companies' reluctance to litigate Consumer Financial Protection Bureau claims has allowed the bureau to establish a value for its claims based on what it can extract from companies seeking peace rather than what it can prove in a neutral federal forum. Several recent examples demonstrate that when a company has sound defenses, litigating can dramatically improve outcomes compared to settlement, say attorneys with Williams & Connolly LLP.
Many class actions have been filed against major retailers challenging the selling of products made only for an outlet or factory store, without disclosing them as such. But the California Court of Appeal recently upheld the lawfulness of this practice. The ruling may portend more courts taking a hard look at such claims, says Jay Ramsey of Sheppard Mullin Richter & Hampton LLP.