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Given the sanctions BankAtlantic sought, the ruling amounts to a glancing blow. But that's not much consolation to the Labaton and Kessler Topaz lawyers that have watched their case fall apart after winning a historic jury verdict against BankAtlantic last year.
Six months after a jury hit BankAtlantic with a multi-million dollar award in the first securities class action to reach trial stemming from the financial meltdown, a federal judge ruled that the plaintiffs hadn't tied their losses to BankAtlantic's misstatements about its loan portfolio.
In a state where real estate horror stories are almost as ubiquitous as sunshine, the defense may face an uphill battle to find sympathetic jurors. One of its tactics: attack the plaintiffs lawyers.
Swiss Government Asks UBS to Pay Legal Costs in Tax Dispute With U.S.
Swiss news agencies reported Wednesday that the government would ask Zurich-based banking giant UBS to reimburse it for outside legal costs stemming from the bank's long-running legal dispute with U.S. authorities over allegations of tax evasion by U.S. citizens holding UBS accounts. A deal to resolve that dispute by releasing the names of 4,450 U.S. citizens with UBS accounts was tentatively struck last August.Attorney Ineligibility Order Pursuant to Rule 1:28-2(a)
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