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Securities Fraud Class Actions Soar in 2002
Securities fraud class actions increased by 31 percent in 2002, providing the latest footnote to a year marked by corporate accounting scandals and record-breaking write-offs. The total number of investor lawsuits last year was the second highest of any year since Congress passed legislation aimed at curbing the suits, according to a study released last week.E-mails Helped Microsoft in Conn.
This time the damning e-mails worked in Microsoft's favor. The deadliest, according to two jurors who spoke to The National Law Journal, was a May 1998 message from a Bristol director to Keith Blackwell, the company's chief executive. It referred to the coming lawsuit as the We sue Microsoft for money' business plan.Pay Hike at Quinn Ups Ante in Salary War
Less than five months after the first salary hikes began in Southern California, a Los Angeles-based firm is again upping the ante. Quinn Emanuel Urquhart Oliver & Hedges, one of two firms that led the first round of raises in September, told associates Thursday evening that the firm would match new pay scales recently announced in New York. Effective March 1, first-year salaries will increase $10,000, to $145,000. Will this second round of increases catch on?Sure, the decision focuses mainly on the Foreign Trade Antitrust Improvement Act. But it's not every day you see Morrison v. NAB used in support of a ruling that foreign defendants must face U.S. claims over alleged overseas misconduct.
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