|
|
|
A Court Cannot Exclude Evidence Because It Is Self-Serving
Court Watch |
2011/08/31 08:46
|
In Reed v. City of Evansville, _ N.E.2d _ (Ind. Ct. App. 2011), Cause No. 82A05-1012-PL-768, Evansville sought to have some of the evidence the Reeds submitted in opposition to the City's motion for summary judgment because it was "self-serving." Today, the Court of Appeals clearly stated that parties should not make this same objection in the future.
The Reeds filed a claim against Evansville and Evansville moved for summary judgment, arguing that the notice was not timely under the Tort Claims Act. The trial court granted that motion and the Reeds appealed.
On appeal, the Court held that the trial court erred when granting summary judgment to the City, because there were genuine issues of material fact. The court then addressed the City's cross-appeal, which challenged the trial court's denial of the City's motion to strike some of the Reeds' evidence. The City moved to strike some of that evidence because it was "self-serving." The Court had none of it.
http://www.indianalawupdate.com/entry/A-Court-Cannot-Exclude-Evidence-Because-It-Is-Self-Serving
|
|
|
|
|
|
|
Court approves Harry and David reorganization plan
Topics in Legal News |
2011/08/30 09:31
|
Harry & David will emerge from bankruptcy protection in the middle of September, the specialty foods company said Tuesday, after its plan for reorganization was approved in court.
The emergence will likely occur on or around Sept. 13, giving the company plenty of time to ramp up for the crucial holiday season.
Kay Hong, the interim CEO who is heading the restructuring, said that Harry and David is returning as a stronger company that is better positioned for long-term profitable growth. The restructuring plan was approved by the United States Bankruptcy Court for the District of Delaware
With consumer priorities reshuffled during the recession, the demand fruit basket and gourmet gifts evaporated. Harry & David entered Chapter 11 bankruptcy protection in March.
Hong said the company looks forward to the holiday season with strong lineup of new products and plans "to deliver a terrific gift experience and unparalleled customer service as Harry & David has done for generations."
Harry & David Holdings Inc., based in Medford, Ore., sells under the Harry & David, Wolferman's and Cushman's brands online and in stores.
|
|
|
|
|
|
|
Cohen Milstein Sellers & Toll PLLC Announces Class Action
Press Release |
2011/08/30 09:31
|
Cohen Milstein Sellers & Toll PLLC announces that it has filed a class action lawsuit in the U.S. District Court for the Southern District of New York against SinoTech Energy Limited, and certain of its officers, directors and underwriters.
The lawsuit, which is captioned Crayder v. SinoTech Energy Limited, et al., 11-CV-05935, alleges violations of the United States securities laws on behalf of purchasers of SinoTech's American Depository Shares ("ADSs") from November 3, 2010 through August 16, 2011 (the "Class Period"), including purchasers of ADSs in the Company's November 3, 2010 initial public offering (the "November IPO"). Claims for November IPO purchasers arise under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (the "Securities Act"). Claims for other Class Period purchasers fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
The lawsuit asserts numerous problems with SinoTech's previously issued financial statements and declarations about its future prospects. Among other claims, the complaint alleges that: (1) the Company's sole import agent, which accounted for more than $100 million worth of oil drilling equipment orders, is an empty shell company with no sign of operations; (2) the Company's only chemical supplier is also an empty shell company, with little or no revenues; (3) the Company's largest subcontracting customer, which provides the vast majority of SinoTech's revenues, has unverifiable operations with minimal revenues; (4) the financial statements SinoTech issued in the United States are inconsistent with similar filings the Company made in China; (5) the Company has engaged in undisclosed related-party transactions in violation of Generally Accepted Accounting Principles; and (6) positive statements the Company made regarding its internal financial controls were false and misleading.
On August 16, 2011, a research analyst writing under the name Alfred Little published an investigative report (the "Report") detailing these and other problems at SinoTech. The day the Report was issued, the Company's stock price plummeted more than 40%, falling from $4.02 per share on August 15, 2011 to $2.35 per share at the close of trading on August 16, 2011 - a decline of $1.67 per share on unusually high trading volume. The NASDAQ halted SinoTech trading after the market closed on August 16, 2011, announcing that trading would remain halted until the Company "fully satisfied NASDAQ's request for additional information." To date, trading has not resumed.
If you purchased the common stock of SinoTech and wish to serve as lead plaintiff, you must move the Court no later than October 18, 2011 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Philadelphia, Chicago, and West Palm Beach, and is active in major litigation pending in federal and state courts throughout the nation.
The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
|
|
|
|
|
|
|
Court to hear appeal over medicating Loughner
Court Watch |
2011/08/29 09:32
|
A federal appeals court will hear arguments Tuesday over a request to permanently ban prison officials from forcibly medicating the Tucson shooting rampage suspect with psychotropic drugs.
At issue in Jared Lee Loughner's appeal before the 9th Circuit Court of Appeal is whether prison officials or a judge should decide whether a mentally ill person who poses a danger in prison should be forcibly medicated.
Prosecutors say the decision is for prison officials to make, while Loughner's lawyers say it's up to a judge.
Loughner has pleaded not guilty to 49 charges in the Jan. 8 shooting that killed six people and wounded 13 others, including Rep. Gabrielle Giffords.
He has been at a federal prison facility in Springfield, Mo., since late May after mental health experts determined he suffers from schizophrenia and a judge ruled him mentally unfit to stand trial. He was sent to the facility in a bid to restore his mental competency so he can assist in his legal defense.
Loughner was forcibly medicated from June 21 to July 1 after prison doctors concluded that he was a danger. His attorneys appealed U.S. District Judge Larry Burns' ruling that said Loughner could be forcibly medicated in prison.
|
|
|
|
|
|
|
BofA sued over $1.75 billion mortgage trust
Court Watch |
2011/08/29 09:31
|
Bank of America Corp was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the largest bank to buy back all of the loans in the trust because of alleged misrepresentations.
The banking unit of US Bancorp said Countrywide Financial Corp, which issued the loans in the HarborView Mortgage Loan Trust 2005-10, breached its obligations by misrepresenting the quality of its underwriting and loan documentation.
It said that because of this material breach, Bank of America, which bought Countrywide in 2008, was obligated to buy back all the loans in the mortgage pool.
The lawsuit was filed in the New York State Supreme Court in Manhattan.
|
|
|
|
|
|
Legal News RSS Feed
