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Notizie da 6 fonti

24 mag 2012 09:06

Plaintiffs firms circling Facebook following subpar IPO

Facebook's initial public offering has prompted a dash to the courthouse by plaintiffs attorneys representing shareholders who invested in the social media giant. At least four securities class action firms said Wednesday they were in the process of filing suits. Robbins Geller Rudman & Dowd already has filed suit, naming Facebook, its executives and the IPO's underwriters, which include Morgan Stanley, JPMorgan Chase and The Goldman Sachs Group. The plaintiffs allege that the defendants misled investors about Facebook's financial health, resulting in the loss of billions of dollars as the stock's price fell following the IPO.

diritto | law.com

24 mag 2012 09:06

In the wake of its botched IPO, Facebook is facing uncommonly swift regulatory scrutiny on multiple fronts. Still, securities lawyers say it's unlikely that the company and lead underwriter Morgan Stanley Smith Barney will face serious penalties from the government.

diritto | law.com

24 mag 2012 09:06

Jury Sides With Google on Oracle's Patent Claims

Google took home a defense verdict Wednesday in its smartphone fight with Oracle after a jury rejected all claims of patent infringement. Oracle, which once touted the whole case as worth $6 billion or more, could walk away with nothing but legal bills.

diritto | law.com

24 mag 2012 09:06

Rakoff Gets Amicus Support from Occupy Wall Street in Citi Appeal

Occupy Wall Street has filed what appears to be its first amicus brief, urging the Second Circuit to uphold U.S. District Judge Jed Rakoff's controversial rejection of the SEC's $285 million settlement with Citigroup. If you expected the brief to be stuffed with inflammatory rhetoric, you'd be wrong.

diritto | law.com

24 mag 2012 09:06

Delaware Judge Awards Hedge Fund Vets $35.5 Million over Partner's Fraud

In what may be the largest award ever in a Delaware hedge fund accounting case, a judge has awarded two of Paron Capital Management's founders $35 million in damages from the fund's former investment chief, James Crombie, finding that Crombie defrauded his partners and the company and breached his fiduciary duties.

diritto | law.com

24 mag 2012 09:06

Crowell & Moring Settles Suits Over Alleged Thefts

Crowell & Moring has settled all litigation in the fallout from the legal work of former real estate associate Douglas Arntsen, who is alleged to have stolen more than $7 million from clients. Extradited from Hong Kong, Arntsen faces two counts of first-degree grand larceny and first-degree scheme to defraud.

diritto | law.com

24 mag 2012 09:06

Fitzgerald's retirement as U.S. attorney marks 'end of a remarkable era'

Patrick Fitzgerald, a tenacious prosecutor whose success in terrorism and public corruption cases played out over a decade, is stepping down as U.S. Attorney for Chicago. Fitzgerald oversaw the successful 2005 prosecution of I. Lewis "Scooter" Libby and, more recently, ran the prosecution of former Illinois Governor Rod Blagojevich.

diritto | law.com

24 mag 2012 09:06

Village Voice Media GC Clashes with State AGs Over Prostitution Ads

Washington state's attorney general has lashed out at Elizabeth McDougall, GC of Village Voice Media Holdings, labeling her a hypocrite for saying her company is an ally in the fight against human trafficking. McDougall's company publishes the online classified ad service Backpage.com, which offers ads for adult services.

diritto | law.com

24 mag 2012 09:06

Church Official Takes Stand in His Own Defense

After two months of testimony and hundreds of documents entered into evidence about what Monsignor William J. Lynn did when he was in charge of handling allegations of sexual abuse by priests for the Archdiocese of Philadelphia, Lynn is finally telling the jury his side of the story.

diritto | law.com

24 mag 2012 09:06

Lawmakers Question Plan to Tap Court Reserve Funds

At a budget subcommittee meeting that marked the first extensive legislative review of California Governor Jerry Brown's revised judicial budget, two state senators pushed back against a proposal to drain $300 million in local trial court reserves, questioning whether the plan is good policy or even feasible.

diritto | law.com