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Delaware court upholds Barnes Noble ruling
Law Center |
2011/03/03 08:46
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| pThe Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes amp; Noble Inc. after he doubled his stake in the company./ppAfter hearing arguments Wednesday, the court on Thursday affirmed a judge's ruling last year upholding the poison pill plan, which limited a shareholder's stake in the company to 20 percent./ppBurkle argued that New York-based Barnes amp; Noble had created an unfair playing field favoring the family of chairman and founder Leonard Riggio, which owns more than 30 percent of its common stock./ppBurkle waged an unsuccessful proxy fight after the ruling but said he would continue to press for changes at the nation's largest brick-and-mortar book seller./p |
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Ark high court upholds dismissal of gas lease suit
Law Center |
2011/03/02 08:47
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pThe Arkansas Supreme Court has upheld the dismissal of a lawsuit that challenged the state Game and Fish Commission's authority to lease public land to natural gas companies so they can drill./ppThe Thursday ruling affirmed a circuit court ruling turned away James Dockery's claim that proceeds from the wells should go to the Legislature instead of the commission./ppThe commission voted in 2008 to lease drilling rights to Chesapeake Energy Corp. of Oklahoma City for $32.2 million. Dockery sued in Pulaski County the following year./ppThe leased areas include include more than 7,500 acres in the Petit Jean River Wildlife Management Area in Yell County and nearly 4,000 acres in the Gulf Mountain Wildlife Management Area in Van Buren County.
/p |
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Dick's settles with former Neb. worker over pay
Law Center |
2011/02/03 09:54
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| pDick's Sporting Goods Inc. has reached a settlement with a former employee over just payment for her work./ppCourt records show U.S. District Judge Joseph Bataillon dismissed the lawsuit filed by Dannette Stackhouse, citing the settlement. Details were not disclosed./ppStackhouse's attorney Peter Glennon declined to comment. A message left Wednesday for a Dick's attorney wasn't immediately returned./ppStackhouse said in her lawsuit that employees were forced to work through breaks, were unpaid for overtime and were sometimes locked in the store until work was finished. Her lawsuit was filed on behalf of roughly 900 Dick's workers in Nebraska and sought class-action status./ppStackhouse worked in the sporting goods retailer's Papillion location./p |
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Maine federal judge lets class action in care suit
Law Center |
2011/02/03 02:54
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| pA federal judge in Maine says 40 residents with cerebral palsy, epilepsy and other conditions can join a lawsuit seeking to force the state to provide opportunities for them to live outside nursing homes./ppOn Monday, U.S. District Court Judge John Woodcock granted class-action status to a lawsuit filed by three men with cerebral palsy who want to live on their own but retain services provided by the Maine Department of Health and Human Services./ppIn the lawsuit filed in December 2009, the three argued the state violated the Americans with Disabilities Act and the Nursing Home Reform Act because it failed to make it possible for them to live outside nursing homes./ppThe Bangor Daily News says state officials couldn't be reached Wednesday because of the storm./p |
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Court won't hear appeal from NY couple
Law Center |
2011/01/18 09:08
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pThe Supreme Court won't overturn the convictions of a suburban New York City couple convicted of enslaving two Indonesian housekeepers./ppThe high court on Tuesday refused to hear appeals from Mahender and Varsha Sabhnani that sought to overturn their forced-labor convictions./ppThe couple was convicted of enslaving two domestic servants the couple brought from Indonesia by keeping their travel documents and having them perform forced labor on their behalf./ppProsecutors said Varsha Sabhnani was primarily responsible for inflicting years of abuse on the poorly educated servants. They said her husband let the abuse take place and benefited from the work the women performed in their $2 million Long Island home./ppVarsha Sabhnani says pre-trial publicity prevented her from getting a fair trial, while her husband argues that he shouldn't have been convicted for aiding and abetting because he didn't stop his wife.
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SEC charges 4 with insider trading
Law Center |
2011/01/12 03:35
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| pFederal regulators on Monday charged the co-founder of a New York hedge fund and three other individuals with insider trading, the latest action in what the government has called the biggest insider-trading case in U.S. history./ppThe Securities and Exchange Commission announced it filed a civil lawsuit against hedge fund Trivium Capital Management, its co-founder Robert Feinblatt and analyst Jeffrey Yokuty. The SEC also filed charges against Sunil Bhalla, a former senior executive of tech company Polycom, and Shammara Hussain, a former employee at a consulting firm that did work for Google. The agency said Bhalla and Hussain provided confidential information that enabled Feinblatt and Yokuty to make about $15 million from trading on the information./ppSo far the SEC has filed civil charges against 27 people and hedge funds in a wide-ranging probe of the Galleon group of hedge funds and its founder. The government says Galleon funds made about $69 million in illegal profits. Raj Rajaratnam, the one-time billionaire founder of the Galleon funds, has pleaded not guilty. Federal authorities have arrested 23 people on criminal charges in the case; 14 have pleaded guilty./ppThe SEC alleged in its suit that Feinblatt and Yokuty traded using confidential information they received from Roomy Khan, a Florida investor who pleaded guilty in 2009 to conspiracy and securities fraud in the Galleon case. Khan has been cooperating in the government's investigation./p |
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