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Barrack, Rodos & Bacine v. Ballon Stoll Bader & Nadler PC
Arbitration Stayed Pending Declaration on Law Firms' Rights to 'Of Counsel' Lawyer's Fee in SettlementAuto Paint Antitrust Suit Nets $105 Million
The final two defendants in a class action antitrust suit against the top manufacturers of automotive refinishing paint have agreed to pay $39 million to settle claims that they participated in a price-fixing conspiracy, bringing the total recovery in the case to more than $105 million.$7 Mil. Class Action Settlement OK'd
A federal judge has granted final approval of a $7 million settlement in a class action securities suit against Ravisent Technologies Inc. brought by investors who said the company used false statements to inflate the price of its stock at the time of its initial public offering.Class Action Dismissed on Broad Reading of Caution Rule Is Revived
Ebbers Must Forfeit Assets in Settlement
Former WorldCom Chief Executive Bernard Ebbers agreed Thursday to forfeit most of his assets in a settlement entered into with class action plaintiffs and the Southern District of New York U.S. Attorney. The terms of the settlement call for a $5 million up-front payment and proceeds from the sale of his assets, estimated to range from $25 million to $40 million.Judge Tosses $277 Million Jury Verdict in Securities Class Action
Apollo Group, convinced it had a watertight case, last year became one of a handful of companies in the past decade to go to trial rather than settle a securities class action. The company lost that bet when it was hit with a $277 million compensatory damages verdict after jurors ruled that Apollo had misled investors. The decision was the largest investors' win since the Private Securities Litigation Reform Act was enacted. Apollo was vindicated Monday when a district court overturned the jury's verdict.Class Action Dismissed on Broad Reading of Caution Rule Is Revived
Plaintiffs may get a second chance to go after MF Global and other defendants for the drop in the firm's stock price following revelations one of its traders lost $141.5 million in a single morning on wheat futures. In its latest discussion of the "bespeaks-caution" rule, the 2nd Circuit vacated a lower court judge's dismissal of a claim that firm's prospectus for its 2007 public offering failed to disclose weaknesses in its risk management system.Cite as: In Re: Publication Paper Antitrust Litigation, 11-101-cv, NYLJ 1202566433698, at *1 (2d Cir., Decided August 6, 2012)Before: Calabresi, Raggi, an
Citigroup to Settle WorldCom Litigation With Investors
The cleanup after the collapse of WorldCom Inc. advanced Monday when Citigroup Inc. announced it would pay investors $2.65 billion to settle claims that one of its investment banking units helped disguise WorldCom's accounting fraud and inflate the price of its securities.Trending Stories
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