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Tokyo court starts Mt. Gox bankruptcy proceedings
Headline Legal News |
2014/04/25 10:34
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Bankruptcy proceedings have begun for Mt. Gox, a move that was widely expected after the Tokyo District Court decided earlier this month that the bitcoin exchange would not be able to resurrect itself.
An administrator will try to sell the company's assets, but many creditors, including those who had bitcoins with the exchange, might not get their money back.
After Mt. Gox went offline in February, its CEO said tens of thousands of bitcoins worth several hundred million dollars were unaccounted for.
Mt Gox has suggested the bitcoins were stolen. The company has not been able to confirm the bitcoin balances of its users.
Bitcoins, created in 2009, are used for transactions across borders without third parties such as banks and have become a popular investment.
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Court declines to block drug ruling in patent case
Headline Legal News |
2014/04/21 14:14
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Supreme Court Chief Justice John Roberts on Friday declined to temporarily block a lower court ruling that opens the world's best-selling multiple sclerosis drug to competition from generic rivals next month.
The decision is a victory for rivals challenging the patents of Israel-based Teva Pharmaceutical Industries Ltd., maker of the drug Copaxone.
Teva claims the U.S. Court of Appeals for the Federal Circuit wrongly overturned five of its patents for the drug. That ruling allows rivals Mylan Inc., Momenta Pharmaceuticals Inc. and Sandoz, Inc., to start selling cheaper generic versions in May instead of September 2015.
The Supreme Court has agreed to consider the case, but arguments won't take place until its new term begins in October and it could be next year before a decision is reached. Teva said it would suffer irreparable harm if the appeals court decision was not postponed. Copaxone brought the company $3.2 billion in U.S. sales last year.
In a one-page ruling, Roberts said he was not convinced Teva would suffer such harm. If Teva ultimately prevails in the case, Roberts said, the company would be able to recover damages from the generic rivals for past patent infringement. He acknowledged that Teva has "a fair prospect" of ultimately winning the case at the high court.
Roberts oversees emergency appeals from the U.S. Court of Appeals for the Federal Circuit, which hears appeals in patent cases. |
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Oklahoma gay-marriage case before US appeals court
Headline Legal News |
2014/04/17 14:16
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Court arguments over Oklahoma's ban on same-sex marriage will center on whether voters singled out gay people for unfair treatment when they overwhelmingly defined marriage as a union between one man and one woman.
Judges at a federal appeals court in Denver will hear arguments Thursday from lawyers representing a couple challenging Oklahoma's ban and the Tulsa County clerk who refused to grant them a license. The judges heard a similar case from Utah last week.
Oklahoma voters approved the ban in 2004 by a 3-1 margin. The Tulsa couple tried to obtain a marriage license shortly afterward.
A federal judge overturned the ban in January, saying it violated the equal-protection clause of the U.S. Constitution. Lawyers for the state say voters have a right to set their own laws. |
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Court date reset in Vegas Strip bird death case
Headline Legal News |
2014/04/15 14:18
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A court appearance was postponed Monday in Nevada for a University of California, Berkeley, law school graduate completing prison boot camp for beheading an exotic bird during a drunken chase at a Las Vegas Strip resort.
Prosecutor Frank Coumou says Justin Alexander Teixeira's court date was rescheduled to May 5.
Teixeira is facing three to five years' probation before he can ask to have his felony conviction reduced to a misdemeanor.
Whether Teixeira is admitted to practice law in California could on depend on whether a felony remains on his record.
He pleaded guilty last May to killing another person's animal in the October 2012 death of a helmeted guineafowl at the Flamingo hotel-casino.
Two other Berkeley students entered pleas to reduced misdemeanor charges, paid fines and served community service. |
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Supreme Court to hear class-action dispute
Headline Legal News |
2014/04/08 11:11
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The Supreme Court will consider the requirements for transferring class-action lawsuits from state courts to federal courts.
The justices on Monday agreed to hear an appeal from a Michigan energy company that asserts it should be allowed to move a class-action case from Kansas state court to federal court. Federal law allows such transfers in cases involving more than $5 million.
A group of royalty owners sued the Dart Cherokee Basin Operating Co. alleging they were underpaid royalties on oil and gas wells. The plaintiffs did not seek a specific damage amount, but the company claimed it would far exceed $5 million.
Video: Supreme Court Won’t Hear NSA Case Now
A federal judge rejected the transfer request because the company did not offer any evidentiary support. The company says the law does not require detailed evidence. |
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