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The AIG litigation machine keeps humming as a New York federal judge declines to dismiss a class action alleging that the insurer misled shareholders about its credit default swap portfolio.
Justices to Consider a Border Battle Over Lawsuits
The U.S. Supreme Court today will hear arguments in a "foreign-cubed" securities class action suit -- the latest legal nemesis that keeps lawyers for companies ranging from Toyota to Vivendi up at night. Foreign companies and countries have flooded the Court with amicus briefs, signaling the importance of the case worldwide. And the case, Morrison v. National Australia Bank, comes to a Court that has grown increasingly skeptical about U.S. courts exerting extraterritorial jurisdiction.An anonymous tipster with apparent inside knowledge of the agency's negotiations with Citi raised the allegations in an unsigned fax to Sen. Charles Grassley. True or not, the fax makes for compelling reading--and we've got a link to it.
We've all been waiting for the other shoe to drop since word leaked in April that AIG was getting ready to sue the banks that sold it $40 billion in toxic mortgage bonds. On Monday AIG's lawyers at Quinn Emanuel slammed it down--and hard. The bank's new litigation woes, coupled with the U.S. credit downgrade, may have conspired to knock 20 percent off BofA's stock price on Monday.
Associates: Desktop Decorating
What's an expressive attorney to do? Once he was limited to wearing plaid ties and paisley suspenders. Now he can set loose flying toasters on his screen or rolling sushi on his desktop.An associate may have no control over the halls, but his office is his castle. A National Law Journal survey has uncovered a scary array of ways to personalize one's desk.James C. Diggs, PPG Industries Inc.
James C. Diggs is senior vice president and general counsel of Pittsburgh-based PPG Industries, a manufacturer of coatings, glass, fiberglass and chemicals. The world's largest producer of vehicular coatings, PPG operates about 120 manufacturing plants and employs more than 32,000 workers worldwide.Quinn Emanuel's litigation record is still impressive by any measure. But last month's high-profile loss against Apple is an unwelcome reminder that even the winningest firms have to lose sometimes.
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