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European court rules against Soros in trading case
Legal Business |
2011/10/05 09:37
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The European Court of Human Rights ruled Thursday that France did not violate George Soros' rights when convicting him of insider trading, defeating a years-long effort by the billionaire financier to clear his name.
Though Soros has faced criticism for other investment decisions before and since, the French conviction over trades in 1988 left a particular stain on the Hungarian-born businessman and philanthropist's five-decade career.
He was fined euro2.2 million in 2002, or $2.92 million at current rates, for purchasing shares in French bank Societe Generale in 1988, days after being informed about a planned takeover bid for the bank.
That was the amount he was accused of making when he sold the shares shortly afterward. France's highest court reduced the fine in 2007 to euro940,000 ($1.25 million at current rates).
Soros argued that France's insider trading rules at the time were unclear, and that the length of the investigation — from 1993 until his indictment in 2000 — made it difficult to call reliable witnesses, violating his right to a fair trial under the European Convention on Human Rights.
The human rights court, based in Strasbourg, France, disagreed. In a 4-3 decision, the panel of judges argued that "the law applicable in 1988 was sufficient for Soros to have been aware that his conduct might be unlawful." |
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Ga. ban on guns in places of worship before court
Legal Business |
2011/10/05 09:36
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A federal appeals court in Atlanta is hearing from a gun rights group that wants to overturn a Georgia state ban on guns in places of worship.
The 11th U.S. Circuit Court of Appeals in Atlanta will hear arguments Thursday on whether the 2010 law violates the First Amendment's religious freedom protections.
The challenge was brought by GeorgiaCarry.org. The gun rights group maintains that religious institutions should be allowed to decide whether to allow firearms inside.
State lawyers counter that the ban allows worshippers to pray in safety.
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Samsung seeks iPhone, iPad sale ban in Dutch court
Legal Business |
2011/09/25 09:45
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Samsung asked a Dutch court Monday to slap an injunction on Apple Inc. to prevent it from selling iPhones and iPad tablets in the Netherlands, saying Apple does not have licenses to use 3G mobile technology in the devices.
The legal battle is the latest round in a series of claims and counterclaims of patent breaches by the rival technology heavyweights playing out in courtrooms around the world.
Samsung Electronics Co. lawyer Bas Berghuis told a civil judge at The Hague District Court that Apple "never bothered to ask about licenses" before it started selling 3G-enabled iPhones.
Apple lawyer Rutger Kleemans hit back by accusing Samsung of using the patent dispute to "hold Apple hostage" because of Apple's legal battles accusing Samsung of copying its iPhone and iPad designs.
"It's a holdup," Kleemans said. "Because Apple dared to take action against Samsung's copycat tactics."
Kleemans urged the court to reject the injunction request, saying the patents involved "are not designed to be used as a weapon against Apple."
No date was immediately given for a ruling.
Earlier this month, a court in Duesseldorf, Germany, ruled that Samsung cannot sell its Galaxy Tab 10.1 in Germany because its design too closely resembled the iPad2. The ruling only applied to direct sales from the Samsung, meaning distributors who acquire the Tab 10.1 from abroad could resell them in Germany. Samsung said it would appeal that judgment. |
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SC attorney's bankruptcy case headed to court
Legal Business |
2011/09/20 23:51
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A bankruptcy trustees for an attorney well known for his television commercials and highway billboards will ask a court to convert the case to a straight liquidation, saying the lawyer is unlikely to be able to repay his creditors.
The Sun News of Myrtle Beach reported that trustee Robert Anderson says he'll ask a judge to convert the case of Harry Pavilack from a Chapter 11 reorganization to a Chapter 7 liquidation. A hearing is scheduled for Monday in Charleston.
Anderson says Pavilack will never be able to pay off the almost $73 million that he owes creditors. His case is one of the largest personal bankruptcies ever in Horry County. His debt is mostly related to real estate deals.
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Pa high court to meet in historic chamber
Legal Business |
2011/09/17 23:49
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Pennsylvania's highest court plans to convene in a historic chamber in Philadelphia for the first time in more than two centuries.
Tuesday's oral arguments session in the Supreme Court Chamber in Old City Hall will be the first time the justices have used the room since 1802.
The session also will be the first to be videotaped under a court policy announced last month. The Pennsylvania Cable Network plans to record the event and air it Tuesday evening.
Cases to be heard include one involving the state's use of an $800 million surplus from a fund that helps doctors pay medical malpractice premiums to balance the state budget in 2009.
The court is using the historic courtroom as part of a commemoration of Constitution Week, which runs through Saturday.
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