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Merrill Lynch and Mutual Funds Settle Suits Over Internet Companies
Merrill Lynch has settled three class action lawsuits that claimed it provided misleading analyst research about Internet companies to purchasers of mutual funds. Under the agreement, which was approved Wednesday by a New York federal judge, almost 400,000 investors will receive roughly $40 million, about 6.25 percent of the $645 million in damages they originally sought. The development symbolized the beginning of the end of a troublesome chapter for the financial management and advisory company.
One Eye on the Motion Schedule, the Other on Saddam Hussein
While the United States and the rest of the world wonder whether war is imminent, some New Jersey lawyers have a bit more at stake in the outcome. They are military reservists, who could be called up for active duty if the U.S. goes to war against Iraq. Although few, if any, will have to trade their briefcases for weapons, an exception is Major Matthew Weingast, an Army intelligence officer recently returned from the combat zone.Partners for Women and Justice Thanks Pro Bono Attorneys
Partners for Women and Justice, a non-profit organization that provides a range of free legal assistance to low income women who are victims of domestic violence, would like to recognize the following attorneys for their pro bono service during 2010. Their generous efforts made it possible for Partners to help hundreds of abused women secure final restraining orders, fair orders of spousal/child support, safe visitation/custody arrangements and divorces. These attorneys counseled clients through our divorce clinics, prepared appeals or made themselves available to provide court representation including through our joint program with Rachel Coalition of Jewish Family Service of MetroWest. On behalf of Partners' staff and trustees and most importantly, the women and children you have helped, we say thank you to you and your firms. For more information about pro bono opportunities with Partners, go to www.pfwj.org or contact Marsha Papanek at [email protected].Mass Law Firm Layoffs Follow Fen-Phen Finale
With an abrupt end to mass tort litigation over the fen-phen diet drug, New Jersey's Porzio, Bromberg & Newman has laid off 53 people, including 16 lawyers and 21 paralegals. Porzio had been defending pharmaceutical giant Wyeth, but the work dried up when the firm representing most of the remaining 943 cases administratively withdrew the complaints. One associate called the dismissal process "heinous," while others questioned the recruitment of laterals, instead of more contract lawyers, for the Wyeth work.Partners for Women and Justice — 2011 Pro Bono Attorneys
Notice to the bar.
A Review of Recent Changes in Securities Arbitration Procedures
Last month, the National Association of Securities Dealers, which operates the world's largest securities dispute resolution forum, instituted comprehensive changes to the rules governing NASD arbitrations. Attorneys Frank J. Cuccio and David J. Butler examine some of the significant changes to the NASD Code of Arbitration Procedure that will affect lawyers who represent investors or industry parties before the NASD. Cuccio and Butler warn that the revised Code may impose additional burdens.Appeal Attempts to Hold Law Firm Liable for Groundless SLAPP Suit
A 20-year feud over a beach club's expansion landed in an appellate courtroom Oct. 23, with challengers seeking damages from the club owner and his lawyers -- Giordano, Halleran & Ciesla of Middletown, N.J. -- for pursuing a groundless "strategic lawsuit against public participation." The feud began in 1986 when James LoBiondo began to enlarge his Sea Bright club, and Grace Schwartz, owner of a house across the street, publicly denounced the project.
An Expert on Expert Witnesses?
N.J. appeals panel mulls whether legal malpractice jury needs help understanding lawyers' failure to produce a medical expert in the underlying tort case.'Strange' Malpractice Case Raises Questions About Expert Testimony
Do juries have the common sense to know when a personal injury lawyer's bungled attempt to get a doctor to show up at trial is negligence? Or is scheduling of medical testimony so mysterious and complex that it requires expert testimony? Those are questions an appellate division panel asked at argument last week in a legal malpractice case about two New Jersey lawyers' alleged failure to produce a medical witness at a trial. The case is unusual because the missing witness also was sued.Madoff investors entitled only to recovery of real losses, NY appellate panel says
A family that invested in Bernard Madoff's Ponzi scheme through multiple entities can recover some of its losses under insurance policies, a New York state appellate panel ruled Tuesday, but the recovery will be based on the difference between what each entity put into the scheme and what it got out, not the losses recorded in Madoff's fraudulent statements.TRENDING STORIES
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