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Appeals court hears challenge to health care law
Court Watch |
2011/09/26 09:34
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A conservative-leaning panel of federal appellate judges raised concerns about President Barack Obama's health care overhaul Friday, but suggested the challenge to it may be premature.
The arguments at the U.S. Court of Appeals in Washington over a lawsuit against Obama's signature domestic legislative achievement focused on whether Congress overstepped its authority in requiring people to buy health insurance or pay a penalty on their taxes, beginning in 2014.
But Judge Brett Kavanaugh, a former top aide to President George W. Bush who appointed him to the bench, said that he has a major concern that courts might not be able to rule on the law's constitutionality until 2015. That's because a federal law bars most challenges to tax-related legislation before the tax or penalty is paid.
A federal appeals court in Richmond cited that law in throwing out another challenge to the overhaul. Two other appeals courts have reached differing conclusions — one declaring the law unconstitutional and the other upholding it. The Supreme Court is expected to weigh in and could possibly even decide to review the law before the Washington circuit issues an opinion. |
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Robbins Geller Rudman Dowd LLP Files Class Action
Marketing |
2011/09/26 09:33
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Robbins Geller Rudman amp; Dowd LLP announced that a class action has been commenced in the United States District Court for the District of Colorado on behalf of a proposed class of Allos Therapeutics, Inc. shareholders who held Allos common stock during the period beginning July 20, 2011 through and including the closing of the proposed acquisition of Allos by AMAG Pharmaceuticals, Inc.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs’ counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/allostherapeutics. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Allos and its Board of Directors (the “Board”) with breaches of fiduciary duty and aiding and abetting breaches of fiduciary duty under state law and the Board and AMAG with violations of the Securities Exchange Act of 1934 (“1934 Act”). Allos is a biopharmaceutical company that engages in the development and commercialization of anti-cancer therapeutics.
The action arises from Allos and AMAG’s July 20, 2011 announcement that Allos had entered into a definitive merger agreement (the “Merger Agreement”) under which Allos would be acquired by AMAG in a transaction valued at approximately $260 million (the “Proposed Acquisition”). Under the terms of the Merger Agreement, Allos stockholders will receive a fixed ratio of 0.1282 shares of AMAG common stock for each share of Allos common stock held. The deal values Allos stock at $2.44 a share using AMAG’s prior closing price of $19.07. The complaint alleges that the Proposed Acquisition significantly undervalues Allos, as Allos shares traded as high as $4.21 as recently as January 12, 2011, and after the announcement of the Proposed Acquisition the price of AMAG common stock has fallen to $13.58 per share, giving the deal a real value of just $1.74 per Allos share.
The complaint further alleges that in an attempt to secure shareholder support for the Proposed Acquisition, on August 22, 2011, defendants issued a materially false and misleading Preliminary Joint Proxy/Prospectus on Form S-4 (the “Proxy”). The Proxy, which recommends that Allos shareholders vote in favor of the Proposed Acquisition, omits and/or misrepresents material information about the unfair sales process for the Company, conflicts of interest that corrupted the sales process, the unfair consideration offered in the Proposed Acquisition, and the actual intrinsic value of the Company on a stand-alone basis and as a merger partner for AMAG, in contravention of §§14(a) and 20(a) of the 1934 Act and/or defendants’ fiduciary duty of disclosure under state law.
Plaintiffs seek injunctive relief on behalf of all shareholders of Allos who held Allos common stock during the period beginning July 20, 2011 through and including the closing of the proposed acquisition of Allos by AMAG (the “Class”). The plaintiffs are represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm. |
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Lawyers seek to stop Loughner's forced medication
Headline News |
2011/09/26 05:34
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Lawyers for the Tucson shooting rampage suspect asked a federal court again Friday to stop his forced medication at a medical facility in a Missouri prison.
Jared Lee Loughner's lead attorney, Judy Clarke, wrote in an emergency motion that the ongoing forced medication of her client is unlawful. She said Loughner will suffer irreparable harm unless the prison is ordered to cease giving him a daily four-drug cocktail, or at least start tapering him off it.
Loughner, 23, has been at the Springfield, Mo., facility since May 27 after he was found to be mentally unfit to stand trial. Experts have concluded he suffers from schizophrenia and are trying to restore his competency.
Loughner has pleaded not guilty to 49 charges stemming from the Jan. 8 shooting at a political event outside a northwest Tucson supermarket. The rampage left six people dead and 13 wounded, including Rep. Gabrielle Giffords, who is still recovering.
Prison officials have forcibly medicated Loughner with psychotropic drugs after concluding he posed a danger at the facility. Federal prosecutors have previously argued Loughner should remain medicated because his mental and physical condition has been rapidly deteriorating.
Clarke said Loughner has an exceptionally strong interest in not being executed. But she noted it is no secret that the government may seek the death penalty if the case is eventually tried. |
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2 Attorneys From Girard Gibbs Selected to Best Lawyers in America 2012
Marketing |
2011/09/25 09:33
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Girard Gibbs LLP (www.GirardGibbs.com) announced today that two attorneys in the firm’s San Francisco office were recently selected by their peers for inclusion in The Best Lawyers in America® 2012 (Copyright 2011 by Woodward/White, Inc., of Aiken, S.C.). Girard Gibbs’ Daniel Girard was honored for his work in class action and securities litigation, and Eric Gibbs was recognized for his work in class action litigation.
Daniel Girard has served as lead counsel in a wide range of cases, including class actions arising under the securities, financial services, civil rights and telecommunications laws. He serves as outside counsel to the California State Teachers Retirement System and the Kansas Public Employees Retirement System. His current work includes serving as lead counsel for investors in litigation against several major banks, including multi-district proceedings against UBS AG in connection with the Lehman Brothers collapse. He also represents individual and corporate clients in international arbitration proceedings.
Mr. Girard was appointed by Chief Justice William Rehnquist to the United States Judicial Conference Committee on Civil Rules in 2004. He was reappointed to a second three-year term by Chief Justice John Roberts in 2007. He is a member of the American Law Institute, and serves on the Advisory Board of the Institute for the Advancement of the American Legal System, a national, non-partisan organization dedicated to improving the process and culture of the civil justice system.
Mr. Girard was selected for inclusion in Northern California Super Lawyers from 2007 through 2011, and has earned an AV-Preeminent rating from Martindale-Hubbell, recognizing him in the highest class of attorneys for professional ethics and legal skills. 2011 is the first year he is listed in The Best Lawyers in America.
Eric Gibbs is a founding partner at Girard Gibbs and specializes in the prosecution of consumer and employment class actions. Mr. Gibbs serves as court-appointed lead counsel, class counsel and liaison counsel in various class and collective actions in federal court and in arbitration throughout the United States. His experience in complex litigation extends to matters involving defective products, false advertising, unfair competition, privacy rights, employment misclassification and wage and hour issues.
Mr. Gibbs is the immediate past co-chair of American Association for Justice’s Class Action Litigation Group and past editor of the group’s Quarterly Newsletter; he also serves on the Board of Governors of the Consumer Attorneys of California and is a member of Public Justice’s Class Action Preservation Project Committee.
Mr. Gibbs was selected for inclusion in Northern California Super Lawyers in 2010 and 2011, and has earned an AV-Preeminent rating from Martindale-Hubbell, recognizing him in the highest class for professional ethics and legal skills. Mr. Gibbs frequently speaks on current issues concerning class action litigation. 2011 is the first year he is listed in The Best Lawyers in America. |
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9th Circuit appeals court Judge Pamela Rymer dies
Lawyer News |
2011/09/23 02:13
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Judge Pamela Rymer of the 9th U.S. Circuit Court of Appeals has died after a years-long battle with cancer.
The federal court on Thursday announced the passing of the 70-year-old Rymer, who had been in failing health in recent months. The court says Rymer was diagnosed with cancer in 2009 and died Wednesday with friends at her bedside.
President Ronald Reagan first appointed Rymer to the U.S. District Court in Los Angeles in 1983. President George H.W. Bush elevated her to the appeals court in 1989.
Rymer was born in Knoxville, Tenn., and raised in the San Francisco Bay area.
The court didn't list any survivors and said Rymer requested no services.
Two scholarships in her name have been established at Stanford University, where she graduated law school in 1964. |
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Court rules that UBS trader should stay in custody
Court Watch |
2011/09/22 12:08
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An alleged rogue trader accused of losing Swiss banking giant UBS about $2.3 billion is sorry beyond words, his lawyer said Thursday, as a judge ordered him to be held in jail until a hearing next month.
Kweku Adoboli, 31, is charged with four offenses of fraud and false accounting dating back to 2008 and accused of racking up losses in authorized trades. His arrest a week ago has heaped pressure on UBS Chief Executive Oswald Gruebel and stoked speculation that the bank could get rid of its investment banking operations.
At a court hearing in London, prosecuting lawyer David Levy added a new fraud offense to the three previous charges laid against Adoboli, and confirmed that authorities had revised upward the amount allegedly gambled away by the trader to around $2.3 billion. A previous hearing was told the trader was accused of losing $2 billion.
Patrick Gibbs, defending Adoboli, said his client ? who wore a gray suit, white shirt and dark blue tie ? was truly sorry for his actions.
He is sorry beyond words for what has happened here, he went to UBS and told them what he had done, and stands now appalled at the scale of the consequences of his disastrous miscalculations, Gibbs said.
Adoboli, who appeared confident and nodded in acknowledgment to a handful of supporters attending the hearing, spoke only to confirm his name, birth date and address. He did not enter any pleas to the charges. |
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