Developer Larry Silverstein has lost his attempt to win as much as $3.5 billion from airlines to pay for extra losses he endured as a result of the September 11, 2001, attacks on the World Trade Center complex. U.S. District Judge Alvin Hellerstein ruled that Silverstein was fully compensated by his own insurers for the cost of rebuilding and his lost lease income. He cannot obtain additional money because of the alleged negligence of the airlines in allowing hijackers to board their planes, the judge said.
WHISTLEBLOWER PROTECTION
The U.S. Court of Appeals for the Fifth Circuit has ruled that would-be whistleblowers are protected from retaliation only if they report their employer's wrongdoing to the U.S. Securities and Exchange Commission — contradicting virtually every other court to consider the matter and the SEC's own rules. Employees who report violations internally have no recourse under the Dodd-Frank Act if they are fired as a result, the court held in a 17-page ruling that may undermine painstakingly developed corporate compliance programs.
