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Judge Rejects Claim Rating Agencies Underwrite Investments
In the aftermath of the financial crisis, the rating agencies have been roughed up a few times in court, but they generally avoided liability for excessively rosy ratings of investments in mortgage-backed securities. On Tuesday, they scored again in a case involving mortgage pass-through certificates issued by a Merrill Lynch subsidiary.How Will Reuters-Thomson Merger Affect Corporate Counsel?
Reuters has built a strong reputation as a go-to employer for ambitious corporate counsel. Will the respected news provider maintain its focus in the wake of its recent merger with Thomson? Since Reuters agreed to merge with the Canadian media giant, little has been said about how the union will affect the legal teams at either of the companies. A period of unrest might be unsettling, but Reuters' lawyers seem unperturbed.In the Matter of the Probate of the Will of Samuel Lee
Although federal law applies and pre-empts state law regarding the payment of federal estate taxes attributable to QTIP property, construction of a will is a matter of state law, and state law governs the allocation of the tax burden in the absence of congressional intent to the contrary.Nearly four years after a judge rejected their usually-reliable First Amendment defense, Moody's and Standard & Poor's on Friday settled separate lawsuits accusing them of misleading investors in a pair of ill-fated structured investment vehicles backed by subprime mortgage debt.
Moody's and Standard & Poor's have lost their latest bid to employ California's anti-SLAPP statute to knock out claims brought by the nation's largest pension plan.
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.
Wording of Debt-Collection Letters 'Could' Bring Problems for Lawyers
Warning to lawyers who do debt-collection work: Using the word "could" in a dunning letter could get you sued. The 3rd Circuit has revived a suit in which a debtor complained that a letter she received violated the Fair Debt Collection Practices Act's ban on false, misleading or deceptive communications because it told her that unless she made arrangements to pay within five days, the matter "could" result in referral of the account to an attorney and "could" result in "a legal suit being filed."Trending Stories
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