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Suit Charging Failure To Diagnose Down Syndrome Settles for $2M
Large settlements and verdicts.Criminal Prosecutions Predicted to Surge Over Financial Crisis
With public anger reaching a boiling point over plunging stock prices and Wall Street "greed," white-collar defense attorneys are preparing for an inevitable surge in criminal prosecutions. Some defense attorneys say they are confident that prosecutors will act responsibly, but other lawyers are concerned that the current climate could affect investigations. "If we saw hostility in [the] Enron climate, we are going to see hostility by a magnitude of tenfold" here, says attorney Mark C. Zauderer.Morgan Stanley, Goldman hit Level 3 jackpot
Here's Rule No. 1 from Wall Street's public-relations playbook: If the company you run has big losses on hard-to-value assets, scream your head off about the accounting rules. And what if the squishy values result in huge gains instead, as they have in the not-so-distant past Rule No. 2: Stay mum about it for as long as the rules allow.Board Election Overhaul Looms as Shareholders Weigh In
Leading commentators believe majority voting for members of the board of directors, implemented through bylaw amendments, will become universal.Proposal Would Boost In-House Pro Bono Role
Under the proposed rule, once registered, in-house counsel could appear before any tribunal or court in the state on pro bono matters, without the need to seek pro hac vice admission, associate with a legal services provider or work under the supervision of a New York-licensed attorney.Adelphia Investors Sue Over Earnings 'Conspiracy'
Litigation born out of the federal criminal trial of four Adelphia Communications executives in New York has stretched all the way to Fulton County Superior Court in Georgia. A group of Adelphia investors -- whose aggregate losses in the now-bankrupt cable company amounted to $50 million -- now has filed suit against Scientific-Atlanta and Motorola, charging the set-top cable box manufacturers with engaging in a "conspiracy" to inflate Adelphia's earnings artificially.Dealmaker of the Week: Roland Hlawaty of Milbank, Tweed, Hadley & McCloy
Kohn, Longtime Cahill Partner, Dies at 86
Immanuel "Ike" Kohn, who chaired Cahill Gordon & Reindel's executive committee for 15 years, establishing a "fiscally prudent" style that has remained with the firm, died yesterday from lung cancer.State AI Legislation Is on the Move in 2024
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