0 results for 'Cahill Gordon Reindel'
Testing the Constitutionality Of McCain-Feingold Law
On Sept. 8, the U.S. Supreme Court will be packed to the rafters as the justices hold an extraordinary four-hour session to consider the constitutionality of the Bipartisan Campaign Reform Act of 2002.A lot of plaintiffs lawyers in the burgeoning litigation over mortgage-backed bonds have eschewed fraud claims, opting instead for contract allegations that don't require a showing of scienter. Robins Kaplan went for fraud--and on Friday its strategy was vindicated.
Plaintiffs holding out hope that they could hold credit rating agencies liable for slapping AAA ratings on doomed mortgage-backed securities on the theory that the agencies acted as underwriters got some bad news on Wednesday.
It must have been a relief for the unassuming prosecutor to see Bernie Madoff led off to prison in handcuffs after his guilty plea Thursday. But as Litt told Manhattan federal district court judge Denny Chin, his work on the Madoff case has only just begun.
The tobacco industry's war on new graphic warning labels for cigarettes suffered a big blow on Monday with an appellate court ruling that largely backed the 2009 law behind the changes. A Sixth Circuit panel upheld the law's restrictions on various forms of cigarette marketing, as well as a requirement that manufacturers reserve space for large text health warnings issued by the Food & Drug Administration. In a separate holding, the panel also upheld the constitutionality of the new graphic warning labels.
True, Wednesday's rulings weren't all bad: Judge Jed Rakoff kept alive claims against banks involved in 19 mortgage-backed securities offerings. But plaintiffs continued their run of futility in ARS litigation and in claims against the ratings agencies.
Pro-Business Ruling Likely in High Court Campaign Finance Case
A majority of the Supreme Court appeared poised Wednesday to reverse or limit a line of precedents that have allowed the government to ban corporate and union expenditures in election campaigns. After an extraordinary 90 minutes of oral argument, it seemed likely that the Court, swayed by arguments in favor of First Amendment rights for corporations, may embark on a new course that critics say could unleash a flood of corporate wealth into elections that are already awash in more regulated kinds of campaign spending.It was big news in May when a California state court judge rejected the rating agencies' First Amendment silver bullet and ruled that a $1.3 billion suit could proceed. But now he's decided that the suspect ratings are protected under California's anti-SLAPP law.
Susan Beck's Summary Judgment: Has the credit rating agencies' overconfidence in investor litigation come back to bite them?
Trending Stories
Insights and Strategies for Effective Succession Planning in AM Law 100 Firms
Brought to you by Gallagher
Download Now
State AI Legislation Is on the Move in 2024
Brought to you by LexisNexis®
Download Now
2024 ESI Risk Management & Litigation Readiness Report
Brought to you by Pagefreezer
Download Now
Creating a Culture of Compliance
Brought to you by Ironclad
Download Now