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Court won't hear restitution claim in Ponzi case
Headline Legal News |
2011/06/13 20:29
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The Supreme Court has rejected an appeal from investment funds seeking repayment of their losses in a $3.7 billion Ponzi scheme operated by Minnesota businessman Thomas Petters.
The funds together lost $165 million and challenged a federal judge's order denying restitution to any of Petters' victims. Among other things, the court said the victims would have other ways of recouping some of their money.
The justices on Monday refused to disturb the ruling.
A federal law generally requires a court to order restitution as part of a defendant's sentence, but allows for some exceptions. The judge in this case said that restitution would be too complex, take too long and result in the payment of less than a penny for each dollar victims lost.
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Court says Halliburton lawsuit can go forward
Court News |
2011/06/13 20:28
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The Supreme Court ruled Monday that Halliburton Co. shareholders can pursue a class-action lawsuit claiming the oil services company inflated its stock price.
The high court overturned a lower court ruling against the shareholders, who want to represent all investors who bought Halliburton stock between June 1999 and December 2001.
The lawsuit argues that Halliburton deliberately understated the company's liability in asbestos litigation, inflated how much money its construction and engineering units would bring in and overstated the benefits of a merger with Dresser Industries. When Halliburton made corrective disclosures, it made the stock price drop and caused investors to lose money, the lawsuit said.
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2 ex-judges, lawyer back to prison in Miss scheme
Headline Legal News |
2011/06/13 20:28
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Two ex-judges and an attorney from Mississippi must return to federal prison for their convictions in a loan scheme.
A federal appeals court had vacated their bribery convictions but upheld the guilty verdicts on corruption charges. So they needed to be resentenced.
U.S. District Judge Henry T. Wingate denied requests by Paul Minor and former Harrison County judges Wes Teel and John Whitfield to be re-sentenced to time they have already served.
Wingate on Monday sentenced Minor to eight years, Teel to four and Whitfield about six — all less than previous.
Prosecutors said Minor would guarantee loans for the judges, then used cash and third parties to pay off the debts. Judges then ruled in his favor in civil cases. He has long said he is innocent and was making loans to help friends.
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Toyota class action suit to start with Utah case
Opinions |
2011/06/12 20:28
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A federal judge expects the first lawsuit to go to trial in a massive class action against Toyota Motor Corp. over a sudden acceleration problem that led the company to recall 14 million cars will involve a crash that killed two people in Utah.
U.S. District Judge James Selna told attorneys Friday that the case of Paul Van Alfen and Charlene Jones Lloyd -- whose Toyota Camry slammed into a wall in Wendover, Utah, in 2010 -- will go to trial in early 2013.
The case will be the first of several bellwether lawsuits, intended to determine how the rest of the litigation will proceed.
Toyota says it welcomes the first suit because it will focus on what it calls the alleged technical defects at the heart of the cases.
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Court orders reconsideration of parole judgment
Attorney News |
2011/06/11 20:29
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The Supreme Court has ordered a lower court to reconsider its decision to release a criminal on parole.
The high court threw out a lower court decision ordering John Pirtle and other prisoners released from prison on parole.
Pirtle was convicted of killing his wife, and the parole board started denying him parole in 2002. Pirtle sued in federal court, saying his parole was denied without any proof that he posed a danger if he got out.
The lower courts agreed with him and ordered him and other prisoners in similar situations released on parole.
The high court threw out that decision in a summary judgment and ordered the 9th U.S. Circuit Court of Appeals in San Francisco to reconsider it.
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