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Thanks to Bear Stearns's lawyers at Paul Weiss, the identities of seven confidential witnesses cited in a securities class action complaint against the defunct investment bank aren't going to be confidential for much longer.
Years before the phrase "toxic assets" became a cliche, the shareholders of a mortgage company called Household International filed a class action in Chicago federal district court, alleging that Household had engaged in "a massive predatory lending scheme" that inflated the company's financials. The trial in the case begins this week.
Co-Worker Whistleblower Cases Test Limits of 'Higgins' Holding
Scarcely a year after the New Jersey Supreme Court ruled that peer-to-peer whistleblowers in the workplace are entitled to protection against retaliatory discharge, two cases are forcing the justices to sharpen their pencils. The central issue in both cases is the extent to which New Jersey's Conscientious Employee Protection Act covers a worker who discloses wrongful action by fellow employees or cooperates in an investigation of them, even though direct harm to the public interest may not be present.Who knew the dairy business could provoke so many antitrust class actions? The appointment of Wolf and Lovells leaves at least two other plaintiffs firms out in the cold.
Senate Puts Corporate Bar In Its Sights
As the Senate scatter-shot some 98 proposals for new legislative pains and punishments at corporate America last week, corporate lawyers found themselves targets as well.V&E to Appeal Denial of Motion to Dismiss From Enron Suit
In a Dec. 21 ruling, a federal judge in Houston denied Vinson & Elkins' motion for dismissal from the massive Enron Corp. shareholder litigation. The plaintiffs in that case are seeking some $25 million in damages. Harry Reasoner, a senior partner in Vinson & Elkins, says that the firm will appeal the ruling within the next 30 days.MDL Panel: 'Traffic Cop' Seeing Its Power Grow
A federal panel whose members are handpicked by the chief justice of the United States to consolidate federal civil cases for discovery is playing an increasingly influential role in how and where large numbers of complex civil cases are litigated throughout the country. For some, a key question about the panel is: Who is minding the store? One concern is the puzzling court assignments when parties can't agree on a forum; one attorney says the panel sometimes decides to "ship 'em to Mars."Trending Stories
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