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In its biggest suit yet, the National Credit Union Administration claims Bear Stearns sold $3.6 billion in shoddy mortgage-backed securities to four failed credit unions. But just like the cases that the Federal Housing Finance Agency brought against a slew of banks, the NCUA suits are in limbo as federal appeals courts weigh whether the agencies waited too long to sue.
Previous deal lands new client for K&S
King Spalding partner Jack D. Capers Jr. landed client Eclipsys Corp., the Atlanta-based health care data technology company that last week announced plans for a $1.3 billion merger with Allscripts-Misys Healthcare Solutions Inc., because of a deal he closed a few years ago.That deal, he said, was the sale of Alpharetta-based medical software provider Per-Se Technologies to health care company McKesson Corp.Apple had a lousy week in patent litigation. Not only did it lose a hefty infringement verdict to a small software company called VirnetX, but a rate-setting case against Motorola Mobility Inc. went off the rails on the eve of trial.
Smith Gambrell & Russell reports gains
One highlight of Smith Gambrell Russell's work in 2011-representing AirTran Airways in its sale to Southwest Airlines Co.-means the firm essentially is losing a major client.But for 2011, at least, revenue and profits both were up. The Atlanta-based firm of about 170 lawyers reported 2011 revenues of about $80 million, up 2.American Airlines attempts to head off big pay raises
AMERICAN AIRLINES, profitable again after racking up $8 billion in losses since 2001, faces a three-front battle to limit labor costs that are among the highest in the industry.The three unions representing American's employees want to make up for double-digit wage and benefit cuts back in 2003, when the company was on the brink of bankruptcy.State AI Legislation Is on the Move in 2024
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