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The deal, which comes before the agency that oversees Fannie and Freddie filed any suit against BofA, is the best indicator to date of the potential value of buyback claims against issuers of mortgage-backed securities. The bad news for investors? Analysts say BofA's $2.8 billion payout is a bargain for the bank.
Citigroup looked to Karp and a team of Paul Weiss litigators two years ago when the bank was hit with claims that it duped Abu Dhabi's sovereign wealth fund into investing $7.5 billion just as the financial crisis was brewing. And for the fourth time in five years, Paul Weiss delivered a victory after Citi opted to try a multibillion-dollar case instead of settling.
Lawyers at MoFo and Wilmer want an en banc panel of the court to look at U.S. District Judge Lucy Koh's ruling that they say sets a new, high standard for injunctive relief.
Apple Execs, Former GC Seek Counsel in Face of Backdating Probe
For the last few months, the San Francisco U.S. Attorney's Office has been investigating whether Apple, like so many other Silicon Valley companies, changed the dates on stock option grants to employees in order to maximize executive payouts, according to lawyers familiar with the case. That investigation has chugged along quietly, but behind the scenes, Apple and some of its current and former executives, including a former longtime GC, are hiring some prominent attorneys.Rug Maker Found Not to Have Copied Competitor's Design
In a decision filled with language about the concept and feel of design elements, a Southern District of New York magistrate judge found a rug maker had not infringed on a competitor's designs. The court's analysis involved a side-by-side comparison of the rugs. The judge found that there was no "substantial similarity," describing David Nicholls' Prado design as cool and highly structured while seeing James Tufenkian's Eclipse rugs as warmer and casual.Rug Maker Found Not to Have Copied Competitor's Design
Apple Execs, Former GC Seek Counsel in Face of Backdating Probe
For the last few months, the San Francisco U.S. Attorney's Office has been investigating whether Apple, like so many other Silicon Valley companies, changed the dates on stock option grants to employees in order to maximize executive payouts, according to lawyers familiar with the case. That investigation has chugged along quietly, but behind the scenes, Apple and some of its current and former executives, including a former longtime GC, are hiring some prominent attorneys.Apple Execs, Former GC Seek Counsel in Face of Backdating Probe
For the last few months, the San Francisco U.S. Attorney's Office has been investigating whether Apple, like so many other Silicon Valley companies, changed the dates on stock option grants to employees in order to maximize executive payouts, according to lawyers familiar with the case. That investigation has chugged along quietly, but behind the scenes, Apple -- and some of its current and former executives, including a former longtime GC -- are hiring some prominent attorneys.Orrick Partner Sued in Bankruptcy Case
Orrick's Karen Dempsey is accused aiding former company executives in a scheme to defraud Thornburg Mortgage.LESSONS OF THE AM LAW 100 2008
The big firms just finished the best five-year economic run since we began keeping records. Now, head count and salaries have outpaced revenue and rates. Is the Golden Age over?Trending Stories
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