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2nd Circuit Insists Class Action Waiver Invalid in Amex Case
The 2nd U.S. Circuit Court of Appeals insisted Tuesday that a mandatory arbitration clause in American Express' contracts with merchants that includes a class action waiver is unenforceable as against public policy.Firms' Track Record Gave Them Edge in TXU Buyout
Law firms working with private-equity firms Kohlberg Kravis Roberts and Texas Pacific Group were tapped to help lead the $45 billion buyout deal with energy giant TXU Corp., an agreement that will become the largest leveraged buyout transaction. Both main law firms, Simpson Thacher & Bartlett and Vinson & Elkins, have long-standing ties with KKR and TPG. "You always hope the large prominent transaction helps develop other business," says Simpson Thacher partner David Sorkin.Class Action Against HSBC Settles for $23.5 Mil.
A federal judge in Philadelphia has preliminarily approved a $23.5 million settlement in a class action brought against HSBC Bank over the company's payment protection plan for its credit card users.Survey: Help Desk Pivotal to IT Success
Sometimes the cutting remark from IT support can blunt its cutting-edge technology. Every year law firms spend millions of dollars on hardware and software, but the size, organization, responsiveness and attitude of the help desk was often the make-or-break factor for associates.Compulsive Hoarding by Owners Presents a Challenge for Boards
In their Cooperatives and Condominiums column, Stroock & Stroock & Lavan's Richard Siegler and Eva Talel discuss Collyer's conditions, which can create serious health and safety concerns for an apartment's occupant and neighbors, case law governing a board's ability to terminate a tenancy because of such hoarding, and why a board should first reach out to a responsible friend or relative or a state or city agency when a tenant is discovered to have Collyer's Syndrome.Trending Stories
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