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Archive for February, 2010

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Lehman bankruptcy advisers paid $641.9m

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

Alvarez & Marsal LLC, the liquidator of bankrupt Lehman Brothers Holdings Inc., has collected $233 million in fees for “interim management” over 16 months, according to a regulatory filing.

The restructuring firm, which provided Lehman with its current chief executive officer, Bryan Marsal, has made more than any other adviser of the investment bank since the September 2008 bankruptcy filing, according to a Feb. 19 report with the Securities and Exchange Commission. Lehman said it paid all its lawyers and advisers $641.9 million through January.

Lehman’s payments to advisers haven’t faced major challenges like those in the case of bankrupt automaker Chrysler LLC, which is using U.S. Treasury loans to wind itself down. On top of reported fees, Marsal’s firm has started earning a so- called “success fee” that can run to 25 percent of the amount the firm gets for dismantling New York-based Lehman over the life of the case, according to court documents.


Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Bankruptcy | Comments Off

Supreme Court won’t hear Pimco market squeeze case

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

The U.S. Supreme Court on Monday denied an appeal by Pacific Investment Management Co challenging class-action certification for a lawsuit alleging the world's largest bond fund manager tried to corner a market for U.S. Treasury note futures.

A U.S. appeals court in Chicago upheld a judge's ruling that certified as a class more than 1,000 investors who seek more than $600 million in damages.

Pimco, a Newport Beach, California-based unit of the German insurer Allianz SE appealed to the Supreme Court, but the justices turned down the appeal in a brief order without any comment.

The lawsuit accused Pimco of boosting its percentage stake in futures contracts on some 10-year Treasury notes to 42 percent from 12 percent over a two-week span in the spring of 2005. The relevant contracts traded on the Chicago Board of Trade.

In its appeal to the Supreme Court, Pimco argued that class-action status should not have been granted because some plaintiffs did not lose money and the class suffered from serious conflicts of interest that precluded certification.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Law Center | Comments Off

Tobacco Industry Faces Renewed $300 Billion Court Battle

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

The Obama Administration requested that the U.S. Supreme Court let the government seek damages of around $300 billion from the tobacco industry through an appeal of the landmark 2006 federal racketeering case that was earlier rejected by the courts.

Last Friday, the U.S. government asked the Supreme Court to overturn parts of the racketeering case and is now seeking $280 billion in forfeited profits and $10 billion to fund campaigns to cut the level of smoking in the United States.

R.J. Reynolds, Inc. Lorillard Inc. and other major players in the industry simultaneously filed paperwork asking the court to overturn the racketeering conviction or return it to an appellate court for review.

While it could be at least nine months before the court decides where to take the case, investors don’t have to look too far back to see the consequences of the uncertainty. The 2006 case sent shares in the sector sharply lower, as investors feared steep fines.

The tobacco company may have lost the lawsuit in 2006, but it avoided crippling monetary damages. Judge Kessler’s move to consider requiring tobacco companies to give up some $280 billion in profits was overruled after the industry filed a pretrial motion with an appeals court.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Breaking Legal News | Comments Off

Tobacco Industry Faces Renewed $300 Billion Court Battle

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

The Obama Administration requested that the U.S. Supreme Court let the government seek damages of around $300 billion from the tobacco industry through an appeal of the landmark 2006 federal racketeering case that was earlier rejected by the courts.

Last Friday, the U.S. government asked the Supreme Court to overturn parts of the racketeering case and is now seeking $280 billion in forfeited profits and $10 billion to fund campaigns to cut the level of smoking in the United States.

R.J. Reynolds, Inc. Lorillard Inc. and other major players in the industry simultaneously filed paperwork asking the court to overturn the racketeering conviction or return it to an appellate court for review.

While it could be at least nine months before the court decides where to take the case, investors don’t have to look too far back to see the consequences of the uncertainty. The 2006 case sent shares in the sector sharply lower, as investors feared steep fines.

The tobacco company may have lost the lawsuit in 2006, but it avoided crippling monetary damages. Judge Kessler’s move to consider requiring tobacco companies to give up some $280 billion in profits was overruled after the industry filed a pretrial motion with an appeals court.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Breaking Legal News | Comments Off

Insider Exclusive TV show list

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

  • What's Wrong with the American Financial System?
  • U.S. vs. Fieger & Johnson – Bring It On!
  • Truck Deaths Georgia: Mitcham v. Terminix & Georgia DOT
  • Trailer Truck Nightmare Accidents
  • Tom Mesereau - America’s Premier Lawyers
  • Time Warner Loses $454 Million
  • The William L. Britt Tribute
  • The Sharon Boxie Louisiana Injustice Story - Nelson & Hammons
  • The Largest Pet Food Recall in U.S. History
  • The Kristi Elliott Story - Story of Tragedy & Triumph
  • The IRS vs. Robert Kahre
  • The Good Samaritan – Jimmy Dunne’s Story
  • The Fight to Save Tator's Dodge - A Real Life David vs. Goliath Struggle
  • Texas Deadliest Tractor-Trailer Accident
  • SPECIAL FEATURE SERIES - Jane Velez-Mitchell
  • Southern California's Premier Law Firms Series - The Law Offices of Judith Wood & Jesse Moorman
  • Southern California's Premier Law Firms Series - Robins, Kaplan, Miller, & Ciresi LLP
  • Southern California's Premier Law Firms Series - Proskauer Rose LLP
  • Southern California's Premier Law Firms Series - Pierce & Weiss, LLP
  • Southern California's Premier Law Firms Series - Phillips, Lerner, Lauzon & Jamra, LLP
  • Southern California's Premier Law Firms Series - Nasatir, Hirsch, Podberesky & Genego
  • Southern California's Premier Law Firms Series - Murphy Rosen & Cohen LLP
  • Southern California's Premier Law Firms Series - Manly, McGuire & Stewart
  • Southern California's Premier Law Firms Series - Kinsella Weitzman Iser Kump & Aldisert, LLP
  • Southern California's Premier Law Firms Series - Girardi & Keese 2
  • Southern California's Premier Law Firms Series - Girardi & Keese 1
  • Southern California's Premier Law Firms Series
  • South Gate Police Department Lawsuits - The Law Offices of Goldberg & Gage
  • Rocky Delgadillo, LA's City Attorney
  • Robin Sax - Inside the World of a Sex Crimes D.A.
  • Robert L. Shapiro, America's Premier Lawyer Series.
  • Rikki Klieman, TV Legal Analyst
  • Right to Die – Dr. Jack Kevorkian (Fieger, Fieger, Kenney, Johnson & Giroux)
  • Ray Boucher, The Consumer Attorneys of California
  • Protecting Investors from Financial Fraudsters
  • Police Brutality Cases - Harris v City of Milwaukee
  • Paul Henderson, The San Francisco District Attorneys Office
  • Orange County Sherriff's Dept Alleged Police Brutality
  • Mysterious Death of Jason Gomez at the Orange County, CA.
  • Motorcycle Accidents - The James Anderson Story
  • Medical Malpractice Victims vs MICRA
  • Medical Malpractice Suit: The Rebecca Gatti Story of Wrongful Birth
  • Medical Malpractice Case: The Emma Mejias Story
  • Media Deaths - The Jenny Jones TV Show Case
  • Mass Torts & Pharmaceutical Drug Litigation Series - Girardi & Keese
  • Life After Exoneration Program - Heather Weigand
  • Lawyers You Love to Hate - Gary Grasso
  • Lawrence Taylor vs. L.A Sheriff's Department - The Cochran Firm
  • LAPD Chief Bill Bratton and Rikki Klieman
  • LA Sheriff's Dept. Alleged Police Misconduct
  • Kimkins Diet Scandal: Headline Legal News
  • Kent Spence – Melton v. EnCana Oil & Gas
  • Inside the World of Investors' Injustice - Part II
  • Inside the World of Investors' Injustice - Part I
  • Inside the Legal Maze of the Bernie Madoff Scandal
  • Injustice In Search of Exoneration - The Douglas Espino Story
  • Houston's Premier Law Firms Series - Hagans Burdine Montgomery Rustay & Winchester
  • Houston's Premier Law Firms Series - Foreman, DeGeurin & Nugent
  • Headline Legal News Series - The Legal Aid Foundation of Los Angeles
  • Headline Legal News - Neville Johnson & SAG
  • Headline Civil Rights News Series - The Cochran Firm
  • Headline Civil Rights News Series - City of Walnut & Voting Rights Issues
  • Headline Civil Rights News - Litt Estuar Harrison & Kitson LLP
  • Headline Civil Rights News - Law Office of Patricia J. Barry
  • Headline Civil Rights News - LA Sherriff Dept & Nick Sorensen
  • Headline Civil Rights News - LA sheriff's Dept.- The Cochran Firm
  • Headline Civil Rights News - Jarrod Tomassi and the Los Angeles Fire Department
  • Headline Civil Rights News - Hermosa Beach Police Department
  • Gerry Spence’s Winning Courtroom Strategies
  • Gerry Spence: Legendary Lawyer for Truth & Justice
  • Gerry Spence – An American Original
  • Gerry Spence and the Trial Lawyers College
  • Geoffrey Fieger: America’s Legendary Trial Lawyer: Fighter for Truth and Accountability
  • Fox Network's TV Judge Cristina Perez
  • Ford's Deadly Truck Defects
  • Flax v. DaimlerChrysler - Chrysler Death
  • Fieger Law - 18-Lawyer Litigation Machine
  • FELA & the $48 Million Jury Verdict
  • Daniel Petrocelli, America's Premier Lawyer Series.
  • Dangerous Health Fraud in Corporate America Series
  • Construction Accident Lawyers – Block O’Toole & Murphy
  • Civil rights & the Hawthorne Police Dept. - The Law Office of Gary S. Casselman
  • Chrysler Death - Flax v. DaimlerChrysler
  • Auto Injury – The Ashley Kubicz Story
  • America's Healthcare Fraud on Drug Makers
  • Air Crash: Alaska Airlines & The FAA Whistleblower
  • A Life Sentence of Loss, Pain, and Injustice - Maureen Faulkner
  • "Same Sex Couple Discrimination – Sharon Reed's Story".

    http://www.insiderexclusive.com/show-titles

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Lawpromo Video | Comments Off

Insider Exclusive TV show list

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

  • What's Wrong with the American Financial System?
  • U.S. vs. Fieger & Johnson – Bring It On!
  • Truck Deaths Georgia: Mitcham v. Terminix & Georgia DOT
  • Trailer Truck Nightmare Accidents
  • Tom Mesereau - America’s Premier Lawyers
  • Time Warner Loses $454 Million
  • The William L. Britt Tribute
  • The Sharon Boxie Louisiana Injustice Story - Nelson & Hammons
  • The Largest Pet Food Recall in U.S. History
  • The Kristi Elliott Story - Story of Tragedy & Triumph
  • The IRS vs. Robert Kahre
  • The Good Samaritan – Jimmy Dunne’s Story
  • The Fight to Save Tator's Dodge - A Real Life David vs. Goliath Struggle
  • Texas Deadliest Tractor-Trailer Accident
  • SPECIAL FEATURE SERIES - Jane Velez-Mitchell
  • Southern California's Premier Law Firms Series - The Law Offices of Judith Wood & Jesse Moorman
  • Southern California's Premier Law Firms Series - Robins, Kaplan, Miller, & Ciresi LLP
  • Southern California's Premier Law Firms Series - Proskauer Rose LLP
  • Southern California's Premier Law Firms Series - Pierce & Weiss, LLP
  • Southern California's Premier Law Firms Series - Phillips, Lerner, Lauzon & Jamra, LLP
  • Southern California's Premier Law Firms Series - Nasatir, Hirsch, Podberesky & Genego
  • Southern California's Premier Law Firms Series - Murphy Rosen & Cohen LLP
  • Southern California's Premier Law Firms Series - Manly, McGuire & Stewart
  • Southern California's Premier Law Firms Series - Kinsella Weitzman Iser Kump & Aldisert, LLP
  • Southern California's Premier Law Firms Series - Girardi & Keese 2
  • Southern California's Premier Law Firms Series - Girardi & Keese 1
  • Southern California's Premier Law Firms Series
  • South Gate Police Department Lawsuits - The Law Offices of Goldberg & Gage
  • Rocky Delgadillo, LA's City Attorney
  • Robin Sax - Inside the World of a Sex Crimes D.A.
  • Robert L. Shapiro, America's Premier Lawyer Series.
  • Rikki Klieman, TV Legal Analyst
  • Right to Die – Dr. Jack Kevorkian (Fieger, Fieger, Kenney, Johnson & Giroux)
  • Ray Boucher, The Consumer Attorneys of California
  • Protecting Investors from Financial Fraudsters
  • Police Brutality Cases - Harris v City of Milwaukee
  • Paul Henderson, The San Francisco District Attorneys Office
  • Orange County Sherriff's Dept Alleged Police Brutality
  • Mysterious Death of Jason Gomez at the Orange County, CA.
  • Motorcycle Accidents - The James Anderson Story
  • Medical Malpractice Victims vs MICRA
  • Medical Malpractice Suit: The Rebecca Gatti Story of Wrongful Birth
  • Medical Malpractice Case: The Emma Mejias Story
  • Media Deaths - The Jenny Jones TV Show Case
  • Mass Torts & Pharmaceutical Drug Litigation Series - Girardi & Keese
  • Life After Exoneration Program - Heather Weigand
  • Lawyers You Love to Hate - Gary Grasso
  • Lawrence Taylor vs. L.A Sheriff's Department - The Cochran Firm
  • LAPD Chief Bill Bratton and Rikki Klieman
  • LA Sheriff's Dept. Alleged Police Misconduct
  • Kimkins Diet Scandal: Headline Legal News
  • Kent Spence – Melton v. EnCana Oil & Gas
  • Inside the World of Investors' Injustice - Part II
  • Inside the World of Investors' Injustice - Part I
  • Inside the Legal Maze of the Bernie Madoff Scandal
  • Injustice In Search of Exoneration - The Douglas Espino Story
  • Houston's Premier Law Firms Series - Hagans Burdine Montgomery Rustay & Winchester
  • Houston's Premier Law Firms Series - Foreman, DeGeurin & Nugent
  • Headline Legal News Series - The Legal Aid Foundation of Los Angeles
  • Headline Legal News - Neville Johnson & SAG
  • Headline Civil Rights News Series - The Cochran Firm
  • Headline Civil Rights News Series - City of Walnut & Voting Rights Issues
  • Headline Civil Rights News - Litt Estuar Harrison & Kitson LLP
  • Headline Civil Rights News - Law Office of Patricia J. Barry
  • Headline Civil Rights News - LA Sherriff Dept & Nick Sorensen
  • Headline Civil Rights News - LA sheriff's Dept.- The Cochran Firm
  • Headline Civil Rights News - Jarrod Tomassi and the Los Angeles Fire Department
  • Headline Civil Rights News - Hermosa Beach Police Department
  • Gerry Spence’s Winning Courtroom Strategies
  • Gerry Spence: Legendary Lawyer for Truth & Justice
  • Gerry Spence – An American Original
  • Gerry Spence and the Trial Lawyers College
  • Geoffrey Fieger: America’s Legendary Trial Lawyer: Fighter for Truth and Accountability
  • Fox Network's TV Judge Cristina Perez
  • Ford's Deadly Truck Defects
  • Flax v. DaimlerChrysler - Chrysler Death
  • Fieger Law - 18-Lawyer Litigation Machine
  • FELA & the $48 Million Jury Verdict
  • Daniel Petrocelli, America's Premier Lawyer Series.
  • Dangerous Health Fraud in Corporate America Series
  • Construction Accident Lawyers – Block O’Toole & Murphy
  • Civil rights & the Hawthorne Police Dept. - The Law Office of Gary S. Casselman
  • Chrysler Death - Flax v. DaimlerChrysler
  • Auto Injury – The Ashley Kubicz Story
  • America's Healthcare Fraud on Drug Makers
  • Air Crash: Alaska Airlines & The FAA Whistleblower
  • A Life Sentence of Loss, Pain, and Injustice - Maureen Faulkner
  • "Same Sex Couple Discrimination – Sharon Reed's Story".

    http://www.insiderexclusive.com/show-titles

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Lawpromo Video | Comments Off

Airgas urges holders to reject Air Products bid

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

Airgas Inc urged its shareholders on Monday to reject a $5.1 billion tender offer from larger rival Air Products & Chemicals Inc, arguing the offer substantially undervalues the industrial gas supplier.

The move was widely expected, and Airgas investors now have until April 9 to formally consider Air Products's $60-per-share cash offer.

However even if a majority of Airgas shareholders sell their shares, the Airgas board still has a "poison pill" in place to keep any one party from acquiring too large a stake.

Allentown, Pennsylvania-based Air Products took the bid hostile earlier this month by launching the tender after being privately rejected twice by Airgas's board.

If successful, Air Products would become the biggest industrial gas company in North America, allowing Air Products to gain substantial benefits from the economy's resurgence after the recession abates.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Securities | Comments Off

Airgas urges holders to reject Air Products bid

Monday, February 22nd, 2010

By Breaking Legal News, Breaking Legal News.

Airgas Inc urged its shareholders on Monday to reject a $5.1 billion tender offer from larger rival Air Products & Chemicals Inc, arguing the offer substantially undervalues the industrial gas supplier.

The move was widely expected, and Airgas investors now have until April 9 to formally consider Air Products's $60-per-share cash offer.

However even if a majority of Airgas shareholders sell their shares, the Airgas board still has a "poison pill" in place to keep any one party from acquiring too large a stake.

Allentown, Pennsylvania-based Air Products took the bid hostile earlier this month by launching the tender after being privately rejected twice by Airgas's board.

If successful, Air Products would become the biggest industrial gas company in North America, allowing Air Products to gain substantial benefits from the economy's resurgence after the recession abates.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Securities | Comments Off

U.S., big tobacco take racketeering case to top court

Sunday, February 21st, 2010

By Breaking Legal News, Breaking Legal News.

Altria Group Inc's Philip Morris USA unit and two co-defendants filed to overturn the verdict, while the government argues the appeals court wrongly denied the disgorgement of billions of dollars in ill-gotten gains by the tobacco industry.

In May, a three-judge panel of the U.S. Court of Appeals for the District of Columbia affirmed a trial judge's verdict against the cigarette makers, finding they violated federal anti-racketeering laws by conspiring to lie about the dangers of smoking.

If the Supreme Court agrees to take the case, it could redefine the reach of the Racketeer Influenced and Corrupt Organizations Act.

Besides Philip Morris, maker of Marlboro cigarettes, the appeals court ruling was challenged Friday by Lorillard Inc, home of the Kent and Newport brands, and the R.J. Reynolds Tobacco unit of Reynolds American Inc, maker of Camel and other cigarettes.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in Breaking Legal News | Comments Off

Saudi could allow women lawyers in court: reports

Sunday, February 21st, 2010

By Breaking Legal News, Breaking Legal News.

Saudi Arabia could soon allow women lawyers to appear in court, though apparently only representing other women, the country's justice minister said in comments published on Sunday.

Justice Minister Mohammed al-Issa said the ministry is drafting new rules to permit female lawyers to argue family cases, which could be passed soon, Saudi newspapers reported.

The women would be able to represent women in marriage, divorce, custody and other family cases, the newspapers said.

Female lawyers in the kingdom, where strict Islamic doctrine and shariah law have enforced separation of genders, can currently work only inside the women's sections of law and government offices, where they do not come into contact with men.

Originally posted at Breaking Legal News. Please visit http://www.breakinglegalnews.com/.

Posted in International | Comments Off

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