Lawsuit says California mortgage money mishandled
Legal Topics | 2014/03/17 21:43
Three community assistance organizations sued  Gov. Jerry Brown and other state officials on Friday, alleging the state improperly diverted nearly $370 million that was intended to help homeowners struggling with foreclosures.

The lawsuit filed in Sacramento County Superior Court says the money was siphoned off to the state's general fund as California wrestled with a massive budget deficit and has never been repaid. The money was part of the $25 billion settlement between major banks and nearly every state in 2012, with California receiving the largest share.

H.D. Palmer, a spokesman for the Department of Finance, said in a statement that the administration is confident that its budget actions are legally sound.

The suit was filed by attorney Neil Barofsky, who previously was inspector general for the federal bank bailout. The suit alleges the money is needed to help affected homeowners "weather the economic storm that continues to sweep so many families out of their homes."

"As a result of these diversions, large numbers of homeowners who are eligible for loan modifications or other relief have been left stranded, and countless fiscally imperiled California homeowners remain unaware of the full scope of their rights," the lawsuit states.

Barofsky filed the suit on behalf of three California-based community organizations that the suit says have helped thousands of homeowners: National Asian American Coalition, COR Community Development Corporation and National Hispanic Christian Leadership Conference.


Man pleads guilty to sea cucumber smuggling charge
Legal Topics | 2014/03/10 22:04
Federal prosecutors in San Diego say a man has pleaded guilty to charges he smuggled 100 pounds of dried sea cucumber into the United States from Mexico.

Sea cucumbers are leathery-skinned marine animals used in some folk medicine practices.

United States Attorney Laura E. Duffy says Cheng Zhuo Liu (chuhng joo-oh lee-oo), a resident of Chula Vista, admitted to tucking the sea cucumbers into the spare tire area of his car before crossing the border last October.

According to the US attorney's office, their market value was between $5,000 and $10,000.

The particular species Liu had is protected under international trade rules, and requires a permit for import.


Fla. high court: Immigrant can't get law license
Legal Topics | 2014/03/07 23:40
The Florida Supreme Court has ruled that immigrants in the country illegally can't be given a license to practice law.

The question was raised when a man who moved here from Mexico when he was 9 years old sought a license in Florida. The court said Thursday that federal law prohibits people who are unlawfully in the country from obtaining professional licenses. The justices said state law can override the federal ban, but Florida has taken no action to do so.

Earlier this year, the California Supreme Court granted a law license to Sergio Garcia, who arrived in the U.S. from Mexico as a teenager with his father. But that ruling was only after the state approved a law that allows immigrants in the country illegally to obtain the license.


Court weighs securities fraud class-action cases
Legal Topics | 2014/03/05 22:47
The Supreme Court is considering whether to abandon a quarter-century of precedent and make it tougher for investors to band together to sue corporations for securities fraud.

The justices hear arguments Wednesday in an appeal by Halliburton Co. that seeks to block a class-action lawsuit claiming the energy services company inflated its stock price.

A group of investors says it lost money when Halliburton's stock price dropped after revelations the company misrepresented revenues, understated its liability in asbestos litigation and overstated the benefits of a merger.

Justices threw out the company's first attempt to block the lawsuit in 2011. But Halliburton is now urging the court to overturn a 25-year-old decision that sparked a tidal wave of securities-related, class-action lawsuits against publicly traded companies and has led to billions in settlements.

The court's 1988 decision in Basic v. Levinson says shareholders who claim they were defrauded by false statements in securities filings don't have to prove they actually relied on the statements. Rather, the court reasoned that any misrepresentation would be reflected in the current stock price. Even if investors are not aware of the misstatements, they are presumed to be aware of them because they affect the stock price.

This presumption, known as the "fraud-on-the-market theory," has become the driving force for modern class-action securities cases. But some economists have questioned whether this theory makes sense anymore, saying it doesn't account for the sometimes random and arbitrary nature of stock trading.


Court: School ban of US flag shirts allowed
Legal Topics | 2014/02/28 23:31
A Northern California high school's decision to order students wearing American flag T-shirts to turn the garments inside out during a celebration of the holiday Cinco de Mayo was appropriate, a federal appeals court ruled Thursday.

The 9th U.S. Circuit Court of Appeals said the school officials' concerns of racial violence outweighed students' freedom of expression rights. Administrators feared the American-flag shirts would enflame the passions of Latino students celebrating the Mexican holiday. Live Oak High School, in the San Jose suburb of Morgan Hill, had a history of problems between white and Latino students on that day.

The unanimous three-judge panel said past problems gave school officials sufficient and justifiable reasons for their actions. The court said schools have wide latitude in curbing certain civil rights to ensure campus safety.

"Our role is not to second-guess the decision to have a Cinco de Mayo celebration or the precautions put in place to avoid violence," Judge M. Margaret McKeown wrote for the panel. The past events "made it reasonable for school officials to proceed as though the threat of a potentially violent disturbance was real," she wrote.

The case garnered national attention as many expressed outrage that students were barred from wearing patriotic clothing. The Ann Arbor, Mich.-based American Freedom Law Center, a politically conservative legal aid foundation, and other similar organizations took up the students' case and sued the high school and the school district.

William Becker, one of the lawyers representing the students, said he plans to ask a special 11-judge panel of the appeals court to rehear the case. Becker said he would appeal to the U.S. Supreme Court if he loses again.


Court: Spain can extradite Liberty Reserve founder
Legal Topics | 2014/02/24 23:10
A Spanish court has ruled that a man accused of being behind one of the world’s biggest money laundering businesses can be extradited to the U.S. to face charges there.

Arthur Budovsky, who founded currency transfer and payment processing company Liberty Reserves, can appeal the ruling, the National Court said late Friday. Spain’s government must also approve the decision for an extradition to happen.

It wasn’t immediately clear if Budovsky would appeal. The 40-year-old Costa Rican, who was arrested at Madrid airport in May 2013, has acknowledged founding Liberty Reserve in 2006, but says he sold his share to stay on only as a consultant.

U.S. officials accuse Budovsky of using Liberty Reserve as a kind of underworld bank which handled about $6 billion worth of illicit transactions.


Appeals court reinstates BP shareholders' lawsuit
Legal Topics | 2014/02/18 22:46
A federal appeals court on Thursday reinstated a shareholders lawsuit filed against BP Alaska in the wake of two oil spills in 2006 on the North Slope that exposed problems with the company's pipeline maintenance program.

A three-judge panel of the 9th U.S. Circuit Court of Appeals reversed the U.S. District Court of Western Washington on several claims.

Shareholders sued BP in 2008, claiming management made misleading statements about the conditions of the company's pipelines, and its maintenance and leak detection program after the first spill of 200,000 gallons onto the North Slope tundra two years earlier. The lawsuit claims BP made the statements knowingly or with deliberate recklessness.

The shareholders claim BP's share price fell 4 percent after the second spill five months later and the subsequent field shutdown for maintenance.

The Associated Press left messages seeking comment for attorneys on both sides of the case.

BP spokeswoman Dawn Patience said in an emailed statement that the company had not had an opportunity to study the decision, so "it would not be appropriate to comment."

BP Exploration Alaska Inc. was fined $20 million in 2007 after pleading guilty to a federal environmental crime for failing to prevent the crude spill, the largest ever at Prudhoe Bay.

The problems became known after the March 2006 spill prompted the FBI and the Environmental Protection Agency to open an investigation into maintenance practices at the 30-year-old field.

They found that thick sludge caked along the bottom of the leaky pipe was protecting colonies of bacteria that produce a corrosive acid. The acid had eaten an almond-sized hole in the steel over the course of several years, and that's where the spill occurred.


[PREV] [1] ..[46][47][48][49][50][51][52][53][54].. [96] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
New Hampshire courts hear 2 cases..
ICC issues arrest warrants for Ne..
Court overturns actor Jussie Smol..
Tight US House races in Californi..
Judge cancels court deadlines in ..
High court won’t review Kari Lak..
Giuliani says he's a victim of 'p..
Court says Mississippi can’t cou..
Judicial panel recommends suspend..
Facing 7 more lawsuits, Sean ‘Di..
Kenya’s deputy president pleads ..
Texas Supreme Court halts executi..
South Korean court acquits former..
Sean ‘Diddy’ Combs to stay in j..
Georgia Supreme Court restores ne..
US court to review civil rights l..
Supreme Court will weigh Mexico’..
Mississippi asks court to set exe..
New rules regarding election cert..
North Carolina appeals court bloc..




St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Bar Association Website Design
Bar Association Member Management
www.lawpromo.com
Sunnyvale, CA truck accident Attorney
www.esrajunglaw.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Web Design For Korean American Lawyers
Korean American Lawyer Website Design
romeoproduction.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Family Lawyer Rockville Maryland
Rockville Divorce lawyer
familylawyersmd.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved.The content contained on the web site has been prepared by Click The Law. 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 or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

A LawPromo Web Design