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Judge Gives Final Approval to $6.6B Enron Settlement
A federal judge gave final approval Wednesday for Canadian Imperial Bank of Commerce, JPMorgan Chase and Citigroup to pay $6.6 billion to settle civil claims that they helped Enron manipulate earnings. The settlement tally is $7.3 billion against Wall Street firms accused of helping Enron hide losses and inflate profits. Meanwhile, a jury in another Houston courtroom deliberated the fate of Enron founder Kenneth Lay and former chief executive Jeffrey Skilling in a criminal fraud and conspiracy trial.Judge Gives Initial Approval to $6.6 Billion Enron Settlements
Down the hall from the fraud and conspiracy trial of Kenneth Lay and Jeffrey Skilling, a federal judge gave initial approval Wednesday for three more banks to pay $6.6 billion to settle civil claims that they helped Enron manipulate earnings. Judge Melinda Harmon is expected to give final approval to the deals with the Canadian Imperial Bank of Commerce, JPMorgan Chase & Co. and Citigroup, said William Lerach, who represents the University of California, lead plaintiff in the shareholder lawsuits.Virginia Bar Pulls Back In-House Proposal
In the face of heavy corporate lobbying, the Virginia State Bar has taken a step back from a proposal that would require all corporate counsel in Virginia to join the Bar. Bar officials were on the verge of sending the proposal to the Virginia Supreme Court for review and final approval last month. Instead, the Bar's Executive Committee decided to send the proposal back to the task force that created it.Judge Gives Initial Approval to $6.6 Billion Enron Settlements
Down the hall from the fraud and conspiracy trial of Kenneth Lay and Jeffrey Skilling, a federal judge gave initial approval Wednesday for three more banks to pay $6.6 billion to settle civil claims that they helped Enron manipulate earnings. Judge Melinda Harmon is expected to give final approval to the deals with the Canadian Imperial Bank of Commerce, JPMorgan Chase & Co. and Citigroup, said William Lerach, who represents the University of California, lead plaintiff in the shareholder lawsuits.Forecaster tops big banks with U.S. housing call
Joel Naroff was visiting Arizona in September 2005 when he had an epiphany. Phoenix-area realtors were looking for home prices in the metropolitan area to surge about 40 percent for a second year. "That was an indication to me that the market had gotten out of control," he recalls. Naroff's concern about a housing bubble paid off three years later: He's the top forecaster of the U.Acquisitions abound at a blistering pace this year
BUYOUTS ARE HAVING a banner year.The volume of acquisitions announced this year breaks the record set in 2000, as the dollar total reached an all-time high last week, even before a slew of takeover announcements were made Monday that pushed it even higher.As of Monday, the total value of announced acquisitions worldwide reached $3.Pate Confirmed as Antitrust Chief
A new top antitrust cop is on the beat. The Senate voted 71-0 on Friday to confirm R. Hewitt Pate to replace Charles James as the assistant attorney general for antitrust at the Department of Justice. "I'm very happy and humble to have an opportunity to serve and to be confirmed by the Senate," Pate said. He is expected to be sworn in within the next week.A Buyer's Guide to Law Firm Software
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