Rails to Troubles: The U.S. Supreme Court on Monday ruled that under an 1875 law, abandoned railroad rights of way belong, not to the government, but to the private parties that acquired the underlying lands. It is a potentially costly setback to the federal government’s rails-to-trails program, The National Law Journal reports.

Discovery Hearing: A federal judge in California will hear arguments on today about evidence allegedly indicating the U.S. Department of Justice filed its $5 billion lawsuit against Standard & Poor’s Financial Services LLC in retaliation for its downgraded credit rating of the United States, The National Law Journal reports.

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