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French court blocks secret recordings of Sarkozy
Headline Legal News |
2014/03/14 14:52
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A French court has ordered an ex-aide of Nicolas Sarkozy to pay 10,000 euros ($14,000) in damages and costs to the former French president over secret recordings that were published in an online journal, and instructed the publication to pull down the links.
Sarkozy and his pop-star-supermodel wife, Carla Bruni, had demanded an emergency injunction blocking publication of their conversation, which surfaced in the online publication Atlantico. The court Friday ordered Atlantico to take down the audio files.
Once-trusted aide Patrick Buisson was ordered to pay 10,000 euros in damages to Sarkozy for making the recordings, and Atlantico and Buisson were each ordered to pay 1,000 euros in court costs.
Atlantico has already pulled the playful exchange between Sarkozy and Bruni. |
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High court sides with parent who fled with child
Headline Legal News |
2014/03/07 15:18
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The Supreme Court has made it harder for a parent in a custody dispute to seek the immediate return of a child under an international treaty to deter child abduction.
The justices ruled unanimously Wednesday that a one-year clock begins ticking when a child is taken out of its country of residence, even if the parent left behind cannot determine where the child is living. In the one-year period, the Hague Convention on child abduction gives judges little option but to return the child to its home country.
After a year, judges have more discretion and must take account of evidence that the child is settled in its new home. |
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Court weighs securities fraud class-action cases
Headline Legal News |
2014/03/05 14:36
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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. |
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Court: Spain can extradite Liberty Reserve founder
Headline Legal News |
2014/02/24 14:54
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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. |
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Fla. man guilty of lesser counts in music shooting
Headline Legal News |
2014/02/20 14:49
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Prosecutors say they may retry a Florida man on first-degree murder charges in the fatal shooting of a teenager after an argument over loud music.
A jury convicted Michael Dunn, a 47-year-old software developer, on Saturday of attempted murder for shooting into a carful of teenagers after the argument, but jurors couldn't agree on the most serious charge of first-degree murder. A mistrial was declared on that charge. State Attorney Angela Corey said her office would consider seeking a retrial.
Meanwhile, defense attorney Cory Strolla said he plans to appeal based on several issues, including how the jury could reach guilty verdicts on four counts and deadlock on another.
Dunn was charged with fatally shooting 17-year-old Jordan Davis, of Marietta, Ga., in 2012 after the argument over loud music coming from the SUV occupied by Davis and three friends outside a Jacksonville convenience store. Dunn, who is white, had described the music to his fiancee as "thug music." He claimed he acted in self-defense.
The trial was Florida's latest to raise questions about self-defense and race, coming six months after George Zimmerman was acquitted in the shooting of 17-year-old Trayvon Martin in Sanford, about 125 miles south of Jacksonville. The Dunn trial was prosecuted by the same State Attorney's Office that handled the Zimmerman case.
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