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Calif. analyst pleads guilty in NY insider case
Legal Business |
2013/11/08 14:44
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A California financial analyst has pleaded guilty in New York, admitting he provided insider tips to an SAC Capital portfolio manager.
Sandeep Aggarwal admitted Friday that he provided the tips to the SAC employee and others about a blockbuster deal between Microsoft Corp. and Yahoo Inc. Investigators say the information pertained to a secret, pending search engine advertising partnership between the companies.
Aggarwal has pleaded guilty to conspiracy to commit securities fraud and securities fraud in Manhattan in a cooperation deal. The 40-year-old was arrested in July in San Jose, Calif.
Authorities say they had wiretap evidence from 2009.
Aggarwal told a magistrate judge he provided the tips to boost his standing as an analyst. He says he is "extremely sorry." |
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Italian court insists Berlusconi devised tax fraud
Legal Business |
2013/08/29 09:33
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Italy's supreme court is defending its decision earlier this month to uphold the tax fraud conviction of Silvio Berlusconi, saying the evidence was clear that the former premier devised a tax fraud scheme for the acquisition of film rights for his media empire.
The Court of Cassation released on Thursday a written document explaining its Aug. 1 decision, which upheld a Milan appellate court ruling that Berlusconi was guilty. The Cassation judges also upheld a four-year prison term and a ban on public office, although it ordered another court to establish the length of the ban.
The center-right leader says he's the victim of magistrates he contends sympathize with the left. His lawyers will be scrutinizing the 208-page document to try to bolster their claims that Berlusconi's rights were violated.
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Court: Legal status can't be used in civil cases
Legal Business |
2013/07/17 20:25
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A person's legal status in the country can't be used in civil cases by attorneys to intimidate or coerce under a new rule approved by the Washington Supreme Court last week.
Since 2007, advocates have been working to make the change to the Rules of Professional conduct that attorneys licensed in the state must adhere to following. The lobbying began after members of the Latino/a Bar Association of Washington had seen attorneys and, in some cases, judges discuss a person's legal status in the country openly in court to intimidate.
"We thought it was unethical to do," said Lorena Gonzalez, who was president of the attorney association at the time. "We looked at the rules there was silence on the issue."
The rule does not affect criminal cases, but does cover civil matters, such as family disputes, personal injury claims, workplace cases, medical malpractice and other fields.
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Iowa top court: Firing of attractive aide is legal
Legal Business |
2013/07/12 09:38
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The Iowa Supreme Court on Friday stood by its ruling that a dentist acted legally when he fired an assistant because he found her too attractive and worried he would try to start an affair.
Coming to the same conclusion as it did in December, the all-male court found that bosses can fire employees they see as threats to their marriages, even if the subordinates have not engaged in flirtatious or other inappropriate behavior. The court said such firings do not count as illegal sex discrimination because they are motivated by feelings, not gender.
The ruling upholds a judge's decision to dismiss a discrimination lawsuit filed against Fort Dodge dentist James Knight, who fired assistant Melissa Nelson, even while acknowledging she had been a stellar employee for 10 years. Knight and his wife believed that his attraction to Nelson _ two decades younger than the dentist _ had become a threat to their marriage. Nelson, now 33, was replaced by another woman; Knight had an all-female staff.
The all-male court issued its revised opinion Friday in the case after taking the unusual step last month of withdrawing its December opinion, which had received nationwide publicity, debate and criticism.
Nelson's attorney, Paige Fiedler, had asked the court in January to reconsider, calling the decision a blow for gender and racial equity in the workplace. She had warned the opinion could allow bosses to legally fire dark-skinned blacks and replace them with light-skinned blacks or small-breasted workers in favor of big-breasted workers. |
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Appeals court to hear dispute over BP settlement
Legal Business |
2013/07/07 00:28
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A federal appeals court is wading into a high-stakes dispute over the terms of a multibillion-dollar settlement of claims arising from BP's massive 2010 oil spill in the Gulf of Mexico.
A three-judge panel of the 5th U.S. Circuit Court of Appeals is scheduled to hear arguments Monday by attorneys for the London-based oil giant and for Gulf Coast businesses that say the nation's worst offshore oil spill cost them money.
BP asserts that the judge who approved the deal and a court-appointed claims administrator have misinterpreted the settlement, allowing thousands of businesses to secure hundreds of millions of dollars in payments for inflated and fictitious losses.
"The result is that thousands of claimants that suffered no losses are coming forward in ever-increasing numbers, seeking and obtaining outrageous windfalls and making a mockery of what was intended to be a fair and honest court-supervised settlement process," company attorneys wrote in their brief for the hearing.
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