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European court rules against Soros in trading case
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2011/10/05 09:24
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The European Court of Human Rights ruled Thursday that France did not violate George Soros' rights when convicting him of insider trading, defeating a years-long effort by the billionaire financier to clear his name.
Though Soros has faced criticism for other investment decisions before and since, the French conviction over trades in 1988 left a particular stain on the Hungarian-born businessman and philanthropist's five-decade career.
He was fined euro2.2 million in 2002, or $2.92 million at current rates, for purchasing shares in French bank Societe Generale in 1988, days after being informed about a planned takeover bid for the bank.
That was the amount he was accused of making when he sold the shares shortly afterward. France's highest court reduced the fine in 2007 to euro940,000 ($1.25 million at current rates).
Soros argued that France's insider trading rules at the time were unclear, and that the length of the investigation — from 1993 until his indictment in 2000 — made it difficult to call reliable witnesses, violating his right to a fair trial under the European Convention on Human Rights.
The human rights court, based in Strasbourg, France, disagreed. In a 4-3 decision, the panel of judges argued that the law applicable in 1988 was sufficient for Soros to have been aware that his conduct might be unlawful.
The Soros Foundation in Paris would not comment on the decision, and Soros' lawyers could not immediately be reached. |
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High court appears to favor Ala. death row inmate
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2011/10/03 11:03
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The Supreme Court appeared likely Tuesday to order a new court hearing for an Alabama death row inmate who lost the chance to appeal his death sentence because of a mailroom mix-up at a venerable New York law firm.
Both conservative and liberal justices indicated they would throw out a federal appeals court ruling that relied on the missed deadline to refuse to consider Cory Maples' claims that he received inadequate legal representation, dating back to his trial on charges he gunned down two friends in 1995.
Justice Samuel Alito, a former federal prosecutor, said he did not understand why Alabama fought so hard to deny Maples the right to appeal when the deadline passed though no fault of his own.
Justice Antonin Scalia was the only member of the court who appeared to agree with the state's argument that Maples' protests are overblown because he was never left without a lawyer. The state also says the role of Maples' lawyers in missing the deadline is unfortunate but nothing the court should correct under its earlier rulings.
Gregory Garre, a former solicitor general who is representing Maples in the Supreme Court, said the earlier legal work for Maples was so bad that it violated the Constitution.
Whatever the shortcomings of Maples' trial lawyers, he appeared to win the lottery when two lawyers at Sullivan and Cromwell agreed to represent him for free in his appeals, Garre said. The New York-based firm has 800 lawyers and offices in a dozen cities. |
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Court refuses to hear Maryland gun case
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2011/10/03 11:02
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The Supreme Court won't hear a Maryland man's argument that the Second Amendment allows him to carry a gun outside of his home for self-defense.
The high court on Monday refused to hear an appeal from Charles F. Williams Jr., who was arrested in 2007 for having his legally-purchased handgun outside his home without a state permit.
The high court has ruled there is a right to keep a gun in the home for protection. But gun advocates say people also have the constitutional right to carry their guns outside the house for self-protection.
Maryland courts say if the Supreme Court agrees with that theory it will need to say so more plainly. The high court refused the opportunity on Monday. |
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Idaho inmates settle lawsuit over prison violence
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2011/09/20 22:08
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A potential class-action lawsuit against the nation's largest private prison company over allegations of violence at the Idaho Correctional Center has been settled in federal court.
The agreement between the inmates and Nashville, Tenn.-based Corrections Corporation of America was filed Tuesday in U.S. District Court in Boise.
In it, CCA doesn't acknowledge the allegations but agrees to increase staffing, investigate all assaults and make other sweeping changes at the lockup south of Boise. If the company fails to make the changes, the inmates can ask the courts to force CCA to comply.
The inmates, represented by the American Civil Liberties Union, sued last year on behalf of everyone incarcerated at the CCA-run state prison. They said the prison was so violent it was dubbed Gladiator School, and that guards used inmate-on-inmate violence as a management tool and then denied prisoners medical care as a way to cover up the assaults.
CCA has denied all the allegations as part of the settlement, but the agreement is governed under a section of the Prison Litigation Reform Act which only applies in cases in which prisoners' constitutional rights have been violated. |
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Ex-Va attorney convicted in law firm embezzlement
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2011/09/06 09:33
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A former attorney has been convicted of embezzling at least $450,000 from the law firm where she worked.
Henrico County Circuit Judge L.A. Harris Jr. on Friday found Kyle C. Leftwich guilty of eight counts of embezzlement in a scheme to divert funds from Marks amp; Harrison's accounts between 2004 and 2008. She could face up to 160 years in prison when she's sentenced in November.
Evidence showed that Leftwich endorsed Social Security checks made out to her for representing disabled clients. But she deposited the money elsewhere than into the firm's account and rigged firm ledgers to cover her actions.
Leftwich was fired in June 2010 and lost her law license a short time later. She repaid $450,000 to Marks amp; Harrison as part of a civil settlement. |
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Court approves Harry and David reorganization plan
Topics |
2011/08/30 09:21
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Harry amp; David will emerge from bankruptcy protection in the middle of September, the specialty foods company said Tuesday, after its plan for reorganization was approved in court.
The emergence will likely occur on or around Sept. 13, giving the company plenty of time to ramp up for the crucial holiday season.
Kay Hong, the interim CEO who is heading the restructuring, said that Harry and David is returning as a stronger company that is better positioned for long-term profitable growth. The restructuring plan was approved by the United States Bankruptcy Court for the District of Delaware
With consumer priorities reshuffled during the recession, the demand fruit basket and gourmet gifts evaporated. Harry amp; David entered Chapter 11 bankruptcy protection in March.
Hong said the company looks forward to the holiday season with strong lineup of new products and plans to deliver a terrific gift experience and unparalleled customer service as Harry amp; David has done for generations.
Harry amp; David Holdings Inc., based in Medford, Ore., sells under the Harry amp; David, Wolferman's and Cushman's brands online and in stores. |
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