Australia’s four biggest banks said on Thursday they were among 17 global lenders being sued by U.S. funds for alleged benchmark interest rate rigging, denying the claims and pledging to contest the action. The suit follows ongoing court action on the matter by Australian regulators, and comes amid increasing scrutiny by global watchdogs on potential market manipulation. Recent investigations …
A federal appeals court has dealt the latest blow to a lawsuit alleging law school students were defrauded with misleading employment statistics. The Third U.S. Circuit Court of Appeals on Tuesday upheld a lower-court’s ruling that Widener University School of Law graduates don’t have enough in common to sue the school through a class action.
A couple whose two young sons were taken away by the state for several months in 2000 over a doctor’s disputed abuse opinion lost a bid on Monday to reinstate a lawsuit against the state child welfare agency. The state Appellate Court rejected an appeal by former Newtown residents Michele and Craig …
In a 2-1 decision, the Seventh Circuit has joined the Delaware Court of Chancery’s call for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to shareholders. As previously discussed here, M&A litigation, typically alleging breach of fiduciary duty by directors and insufficient disclosures, often ends in settlement, with defendants agreeing to provide …
A federal district court in California, last Wednesday, rejected the proposed settlement of a class action lawsuit against Similasan Corporation (Allen v. Similasan Corp., Case N. 12-cv-376-BAS-JLB, S.D. Cal.). Among other claims, the company was accused of engaging …
The owner of two Florida Mountain communications towers that collapsed in 2014 is suing Verizon for nearly $500,000. North Adams Tower Company alleges that upgrades Verizon made to equipment it owns on one of the towers caused it to collapse and take with it a second tower on March 29, 2014. The first tower to collapse was 160 feet tall.
Attorneys for the IRS have gotten their hands on an email that appears to buttress their case that Herb Simon received a sweetheart deal when he acquired his ailing brother Mel’s 50 percent ownership in the Indiana Pacers in early 2009, just a few months before Mel died at age 82. Whether Mel got full value for his stake matters because, if he didn’t, Herb effectively received a massive …
The Washoe County School District has agreed to pay $1.35 million to two families that accused a teacher of abuse at Marvin Picollo School, according to public documents filed in court Friday. The suit, filed Nov. 18 in U.S. District Court, alleged that during the 2013-14 school year two 8-year-old girls were the victims of physical, verbal and emotional abuse …
The Ohio Supreme Court ordered a case to mediation to solve a public records dispute between Kent State University and a former softball player that accused the university of covering up a sexual assault by her former coach’s son. The high court on Aug. 5 ruled the case to mediation instead of having in-person arguments after attorneys for the former player, Laura Kesterson, filed …
On Friday, a federal judge heard arguments in a lawsuit brought by several states over the Obama administration’s stance on transgender rights. The case, Texas v. United States, targets the federal government’s interpretation that sex discrimination laws apply to …