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Homebuilder Beazer Faces Barrage of Suits for 'Reckless Tactics'
A Texas-based commercial lender has sued home building company Beazer Homes USA Inc., its board, and current and former executives, claiming that their "reckless tactics" have resulted in multiple federal investigations. The shareholder derivative suit claims that Beazer arranged mortgages through its lending arm for unqualified buyers, leading to numerous foreclosures that have undermined Beazer's financial stability. The federal case is one of seven brought by Beazer shareholders and employees.The details of the case are almost as closely guarded as the secret recipe of Coke, but at stake was the price of hundreds of millions of pounds of aluminum.
The U.S. Supreme Court refused on Monday to second-guess an appellate court's decision to revive an antitrust suit against a big swath of the magazine industry, handing a win to bankrupt magazine wholesaler Anderson News and its lawyers at Kasowitz, Benson, Torres & Friedman and Kellogg, Huber, Hansen, Todd, Evans & Figel.
Source Interlink, a magazine wholesaler, is on the ropes. But according to a suit filed by Source's lawyers at Kasowitz, Benson, Torres & Friedman, that's because a group of publishers, distributors, and wholesalers has plotted to run Source out of business. At a preliminary injuction hearing on Friday, Kasowitz will try to end the alleged conspiracy.
Latham & Watkins can proceed as lead trial counsel for a defendant in a massive antitrust class action, a Washington federal district trial judge ruled on Tuesday, denying a motion to disqualify the firm.
Employee Sues Mirant Over Loss of Retirement Benefits
Energy marketer Mirant Corp. faces a potential class action that claims the firm violated the Employee Retirement Income Security Act. The suit, filed in federal court in Georgia by a retired Mirant employee, says that corporate officers must restore losses the companies' retirement plans sustained. Those plans included investment portfolios of Mirant stock for thousands of the firm's employees.Monroe County, Georgia Power Square Off Over Property Taxes Before State Supreme Court
The Georgia Supreme Court heard a case this week that's gotten the attention of a host of power companies. The dispute between Georgia Power and the Georgia county of Monroe concerns whether counties can modify assessment calculations of the value of real property from the value proposed by the State Board of Equalization. Monroe issued a 2003 tax bill for $5.98 million based on its own assessment; The state's assessment would have resulted in a bill of less than $2 million.With class certification briefing due next month, BofA may turn out to have been smart for getting out early from this sweeping MDL, which alleges that more than a dozen banks fleeced their most vulnerable depositors by charging exorbitant overdraft fees.
Georgia Juvenile Court Judge to Quit, Blames Pay Shuffle
Cobb County, Ga., Juvenile Court Presiding Judge James F. Morris is stepping down, and money is the reason. The 57-year-old Morris, who has been a juvenile court judge for 11 years, says he hasn't seen a dime of the $170,000 the Legislature earmarked for Cobb juvenile judges last year. That money, Morris says, went directly from the Legislature to Cobb's coffers.A Buyer's Guide to Law Firm Software
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