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Corzine steps down at collapsed firm, hires lawyer
Legal Business |
2011/11/07 12:12
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He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers.
Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure.
MF Global collapsed into bankruptcy Monday, and Corzine has since hired a criminal defense attorney amid an FBI investigation into the disappearance of hundreds of millions of dollars in client money.
In another twist, a top regulator has ended his role in the investigation of MF Global because of his longstanding ties to Corzine. Commodity Futures Trading Commission chairman Gary Gensler, whose agency is leading the effort to locate the missing client money, had worked for Corzine at Goldman Sachs.
MF Global's implosion, which came after Corzine made a big, risky bet on European debt, revived memories of the 2008 banking crisis and the ruin of the much bigger Lehman. |
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High court considers Ga. suit over false testimony
Legal Business |
2011/11/03 08:48
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The Supreme Court wrestled Tuesday with whether government officials are protected from civil lawsuits, even if they tell lies that lead a grand jury to vote for an indictment.
The justices heard arguments in an appeal from Charles Rehberg, an accountant who was indicted three times involving charges that he harassed doctors affiliated with a south Georgia hospital system.
After the third indictment was dismissed even before a trial, Rehberg sued local prosecutors and their investigator, James Paulk. Rehberg argues that he was placed under investigation because of the hospital's political connections and that Paulk's false grand jury testimony led to the indictments.
At issue in the high court is whether grand jury testimony could make a person liable in a civil lawsuit. A key question is whether the justices consider such testimony to be more like an affidavit or a trial. Witnesses are protected from civil lawsuits over what they say in trial testimony.
Paulk argues that the grand jury is part of the judicial process, and testimony there should be afforded the same protection it gets at trial. |
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Court unlikely to allow private prison to be sued
Legal Business |
2011/11/02 08:48
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The Supreme Court seemed unlikely on Tuesday to allow employees at a privately run federal prison to be sued by an inmate in federal court, despite his complaint that their neglect left him with two permanently damaged arms.
Justices heard appeals from lawyers representing employees of the GEO Group, formerly known as Wackenhut Corrections Corp, who work at the privately run Taft Correctional Institution in Taft, Calif. The 9th U.S. Circuit Court of Appeals had ruled inmate Richard Lee Pollard could sue GEO officials for his treatment after he fell and fractured both of his elbows.
Pollard said GEO officials put him in a metal restraint that caused him pain, and refused to provide him with a splint, making his injuries worse and causing permanent impairment. He sued in federal court for money, claiming GEO officials had violated the Eighth Amendment prohibition on cruel and unusual punishment.
The federal appeals court allowed his lawsuit against the GEO officials to move forward. Courts normally don't allow government employees to be sued in those types of lawsuits, but the high court has authorized some if constitutionally protected rights have been violated by the federal employee and there is no state court remedy. |
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Justices could talk health care cases on Nov. 10
Legal Business |
2011/10/26 09:40
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The Supreme Court could decide as early as Nov. 10 whether to hear a challenge to President Barack Obama's health care overhaul this term.
Federal appeals court rulings on health care from Atlanta, Cincinnati and Richmond are on the agenda for the justices' private conference on Nov. 10.
If they agree then to hear any or all of those cases, the decision would be announced that day or when the court meets in public session the following Monday. Such a timetable would allow the court to hear arguments over the health care law in late March and would give the justices three months to craft their opinions.
The central issue is whether the requirement for individuals to buy insurance or pay a penalty is constitutional. |
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US appeals court upholds roadless rule in forests
Legal Business |
2011/10/25 10:13
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A federal appeals court on Friday upheld a rule prohibiting roads on nearly 50 million acres of land in national forests across the United States, a ruling hailed by environmentalists as one of the most significant in decades.
Mining and energy companies, however, say it could limit development of natural resources such as coal, oil and natural gas.
The 10th U.S. Circuit Court of Appeals backed the 2001 Roadless Area Conservation Rule after lawyers for the state of Wyoming and the Colorado Mining Association contended it was a violation of the law.
Supporters of the roadless rule say the court's decision preserves areas where outdoor enthusiasts like to hunt, fish, hike and camp. It also protects water quality and wildlife habitat for grizzly bears, lynx and Pacific salmon, supporters say.
"Without the roadless rule, protection of these national forests would be left to a patchwork management system that in the past resulted in millions of acres lost to logging, drilling and other industrial development," said Jane Danowitz, director of the Pew Environment Group's U.S. public lands program. |
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