Goldman Sachs on Friday won a lawsuit filed against it by the Libyan Investment Authority (LIA), a government-managed sovereign wealth fund. The Libyan fund had sued the American investment bank for $1.2bn (£984m) over losses that it had incurred from derivatives purchased in 2008. The LIA had alleged that Goldman Sachs had wooed the fund’s officials with prostitutes, fine-dining in London’s …
A former Portsmouth School District employee will likely have to pay a civil judgment as part of a lawsuit brought months after he was convicted of sexually assaulting a female student. Last month, a judge dismissed a major portion of the lawsuit, which …
On behalf of Christie’s, Inc., Skadden secured the denial of a motion to alter or amend judgment, preserving the previously granted dismissal with prejudice of a class action in which several prominent artists or their representatives had sought to enforce the …
A federal appeals court, taking up an issue left open by a recent U.S. Supreme Court ruling, said in a decision last month that tendering funds to a class action plaintiff — not just offering to tender — still does not moot a case. The U.S. Court of Appeals for the Sixth Circuit, in its July 6 opinion in Mey v. N. Am. Bancard LLC, was forced to take up a question …
The Supreme Court on Monday rejected an appeal from Illinois smokers who sought reinstatement of a $10.1 billion class-action judgment in a long-running lawsuit against Philip Morris. The justices did not comment in leaving in place an Illinois Supreme Court ruling in favor of the cigarette maker. The smokers objected to the participation of state Supreme Court Justice Lloyd Karmeier, who they …
Last March, the United States Supreme Court held that a putative class action is not mooted when a defendant offers the named plaintiff complete relief but the plaintiff does not accept the offer. Campbell-Ewald Company v. Gomez, 136 S. Ct. 663 (2016). That decision left open the question of whether a settlement offer—coupled with an actual tender of complete relief—would …
The U.S. Supreme Court on Monday rejected two corporate challenges in class action cases, refusing to hear bids by Wal-Mart Stores Inc (WMT.N) and Wells Fargo & Co to throw out large judgments against them. Wal-Mart had sought to get rid of a $187 million class action judgment over the retailer’s treatment of workers in Pennsylvania.
Dow Chemical said Friday it will pay $835 million to settle a long-standing class action lawsuit, after the death of Justice Antonin Scalia decreased its chances of prevailing at the Supreme Court. The announcement is an early indication of how corporations are shifting their legal strategy following the loss of the court’s 5-4 conservative majority. “I think most corporations facing class …