0 results for 'Reed Smith'
3rd Circuit Tosses $33 Million Verdict Against Bank, Broker Charged With Aiding Ponzi Scheme
Dealing a huge setback to the victims of the $1 billion Ponzi scheme operated by Pennsylvania businessman Robert Bentley, the 3rd Circuit on Monday overturned a jury's verdict of more than $32.7 million against a bank and a broker accused of helping Bentley to keep the scheme alive. The court said the receiver cannot pursue claims against those who assisted Bentley's firm by giving it access to more cash and investors -- even if those acts ultimately resulted in a deepening of the insolvency of Bentley's firm.Drugmakers Get Double Dose of Bad News Over Hormone-Replacement Therapy Products
A Philadelphia jury returned a $34 million verdict Monday against two drugmakers over hormone-replacement therapy drugs that the jury found caused a plaintiff's breast cancer. And a $75 million punitive damages verdict from the end of October in another hormone-replacement therapy, or HRT, mass tort case was unsealed by court order after the other jury verdict was rendered around 2 p.m. Monday.A jury might really sink its teeth into Norex Petroleum's claims against a collection of Russian billionaires and oil companies. But unfortunately for Norex, over the span of 10 years Pell has led the way in convincing three different courts in Manhattan to dismiss the case without ever reaching the merits.
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