Top News

  • October 5, 2009

    High Court Seeks SG Input In Mazda Preemption Case

    The U.S. Supreme Court has asked the solicitor general to weigh in on whether federal law preempts a lawsuit brought against Mazda Motor of America Inc. after a woman wearing a lap-only seat belt was killed in a collision.

  • October 5, 2009

    High Court Nixes DOI Appeal Of Anadarko Royalty Win

    The U.S. Supreme Court rebuffed the Department of the Interior's request to take up a case over royalties on offshore oil and natural gas leases on Monday, declining to hear a challenge to an appeals court's ruling in favor of Anadarko Petroleum Corp. that the government warned could cost the U.S. at least $19 billion.

  • October 5, 2009

    High Court Turns Nacchio Away

    The U.S. Supreme Court has declined to hear the case of imprisoned former Qwest Communications International Inc. chief Joseph Nacchio, leaving the question of what expert testimony can be used in securities litigation on the table.

  • October 5, 2009

    SG To Weigh In On First-Sale Doctrine For Imports

    The U.S. Supreme Court has asked the solicitor general to file a brief expressing the U.S.' perspective on Costco v. Omega, a case currently awaiting the high court's cert call that asks whether imported goods made overseas can enjoy copyright first-sale doctrine protection.

  • October 5, 2009

    Tips For Firms On Making Flextime Work

    Flexible time schedules are gaining in popularity as more attorneys demand a better work-life balance, but in order to make the schedule a win-win, firms need to become a partner in the process, legal experts say.

  • October 2, 2009

    SEC Sets Final Deadline For SOX 404 Compliance

    The U.S. Securities and Exchange Commission announced Friday that even the smallest publicly reporting companies will have to begin complying with Section 404 provisions of the Sarbanes-Oxley Act within nine months.

  • October 2, 2009

    SEC Delays Proxy Access Rule Changes Until 2010

    U.S. Securities and Exchange Commission Chairwoman Mary Schapiro said late Friday that proposed changes to proxy access rules would not be finalized until 2010 at the earliest, following a deluge of comments to the regulator.

  • October 2, 2009

    Trustee Seeks $200M From Madoff Clan

    The trustee overseeing the liquidation of Bernard L. Madoff's investment firm has sued the imprisoned Ponzi schemer's sons, brother and niece in an attempt to recover nearly $200 million for defrauded investors.

  • October 2, 2009

    Firms' 'Ego'-Driven Salary Structure Can't Last: Experts

    While plenty of leading law firms have frozen or slashed associate salaries amid the current recession, just as many have remained dedicated to the status quo — a devotion that may be rooted more in ego than loyalty, some experts say.

  • October 2, 2009

    Agencies Ready Genetic Anti-Bias Rules For Insurers

    Three federal agencies have unveiled interim final rules to ensure that genetic information is not used by insurance companies to deny coverage, raise premiums or impose pre-existing condition exclusions for any individual or group.

  • October 2, 2009

    Senate Bill Encourages Limits On Insurance Exec Pay

    The U.S. Senate Finance Committee has voted to add an amendment to its version of health care reform legislation that would halve the amount health insurance providers can claim in business tax deductions for executives' salaries, from $1 million annually to $500,000.

  • October 1, 2009

    Calif.'s $130M WR Grace Asbestos Case Revived

    A federal judge has overturned a ruling by a bankruptcy court that barred the state of California’s building management department from recovering $130 million in asbestos damages from bankrupt materials company W.R. Grace & Co., on the basis of the statute of limitations.

  • October 1, 2009

    Judge Nixes $1.9B In Sprint Claims In DBSD Ch. 11

    A federal judge has shot down Sprint Nextel Corp.'s bid to hold the debtors in the DBSD North America Inc. bankruptcy jointly liable for $1.9 billion to cover reimbursements for clearing spectrum band.

  • October 1, 2009

    Cadbury Investor Sues Over Kraft Takeover Rejection

    An investor in Cadbury PLC has filed a derivative suit accusing the confectioner’s board of directors of selfishly betraying the company by refusing Kraft Food Inc.’s repeated offers of a $16 billion buyout.

  • October 1, 2009

    Obama Taps Ritter Aide, Ex-Wis. Justice For Posts

    President Barack Obama has named his picks for three U.S. attorneys in Oklahoma, Missouri and Colorado — including a top aide to Colorado Gov. Bill Ritter — and tapped the first black justice to serve on Wisconsin's Supreme Court to be a federal judge in the state.

  • October 1, 2009

    Judge Quashes Enviros' Tar Sands Pipeline Suit

    A federal judge has dismissed a lawsuit brought by the Natural Resources Defense Council and other environmental groups challenging the U.S. Department of State's presidential permit for the building of a 2,148-mile oil pipeline from western Canada into the central United States.

  • October 1, 2009

    BofA Fraud Suit Against Bear Stearns Survives

    A federal judge has refused to dismiss contract and fraud claims in Bank of America NA's lawsuit against a unit of Bear Stearns Cos. — now owned by JPMorgan Chase & Co. — in which two former hedge fund managers and a third individual are accused of deceiving BofA into entering into a costly, failed transaction.

  • October 1, 2009

    AOL Execs Still On Hook In $1B SEC Fraud Suit

    A judge has rejected bids by four former AOL Time Warner Inc. executives to throw out civil fraud charges brought by the U.S. Securities and Exchange Commission over an alleged scheme to overstate the media giant's advertising revenues by $1 billion.

  • October 1, 2009

    2nd Circ. Nixes Legg Mason, Citi Securities Action

    A federal appeals court has affirmed a district court's dismissal of a putative securities class action alleging that Legg Mason Inc. and Citigroup Inc. defrauded investors by omitting details of a secondary public offering following a multibillion-dollar unit swap in 2005.

  • September 30, 2009

    EPA Seeks To Rein In Large GHG Emitters

    The U.S. Environmental Protection Agency unveiled a proposal Wednesday that would require large industrial facilities that emit at least 25,000 tons of greenhouse gases per year to obtain construction and operating permits and use the “best available control technologies and energy efficiency measures” to minimize such emissions.