Apr
1
Colorado Appeals Panel: General Contractor’s Third-Party Claims Filed Too Late
April 1, 2012 | Leave a Comment
DENVER – A Colorado Court of Appeals panel on Feb. 2 upheld summary judgment for a pair of subcontractors named as third-party defendants in a construction defects action, agreeing that the claims were time-barred (Shaw Construction LLC v. United Builder Services Inc., et al., No. 11CA2351, Colo. App.; 2012 Colo. App. LEXIS 172). LexisNexis® Mealey’s™ [...]
Mar
8
Illinois High Court Affirms Trial Court’s Dismissal Of Claims Over Site Conditions
March 8, 2012 | Leave a Comment
SPRINGFIELD, Ill. – The Illinois Supreme Court on Feb. 2 unanimously affirmed a trial court’s dismissal of an environmental group’s claims that ExxonMobil Coal USA was in violation of the Surface Coal Mining Land Conservation and Reclamation Act (SCMLCRA) and Water Use Act of 1983 for site conditions at one of its mines because the [...]
Feb
16
7th Circuit Rules For Abbott On Former Employees’ ERISA Interference Claims
February 16, 2012 | Leave a Comment
CHICAGO – A certified class of former employees of Abbott Laboratories failed to prove that Abbott created a spin-off unit to avoid paying retirement benefits in violation of Section 510 of the Employee Retirement Income Security Act, the Seventh Circuit U.S. Court of Appeals affirmed Feb. 3 (Myla Nauman, et al. v. Abbott Laboratories, et [...]
Feb
4
JPMorgan Agrees To Pay Nearly $ 700M To Settle Claims With Lehman Brothers
February 4, 2012 | Leave a Comment
NEW YORK – JPMorgan Chase Bank NA on Feb. 1 agreed to pay nearly $ 700 million to bankrupt Lehman Brothers Holdings Inc. (LBHI) that JPMorgan had been previously paid for “purportedly secured claims against LBHI on the basis that, as ‘affiliates’ of JPMorgan Chase Bank, N.A., their claims were guaranteed by LBHI” under a [...]
Jan
17
6 Third-Party Payers Settle Zyprexa Claims For $ 4.5M Amount After Class Vacated
January 17, 2012 | Leave a Comment
BROOKLYN, NY – The Zyprexa multidistrict litigation judge on Jan. 12 approved a $ 4.5 million settlement between Eli Lilly and Co. and six third-party payers who had their Racketeer Influenced and Corrupt Organizations (RICO) Act class action vacated and who couldn’t find any other health benefit providers to join their individual suits, the parties [...]
Jan
11
Act’s Silence On Arbitration Means Claims Must Be Arbitrated, High Court Rules
January 11, 2012 | Leave a Comment
WASHINGTON, D.C. – Because the Credit Repair Organizations Act (CROA) does not specifically state whether claims brought pursuant to the act are eligible for arbitration, the Federal Arbitration Act (FAA) requires an arbitration agreement in a credit card agreement “to be enforced according to its terms,” a split U.S. Supreme Court ruled Jan. 10 (CompuCredit [...]
Jan
2
Parties Move To Dismiss All Claims In Auction-Rate Securities Suit
January 2, 2012 | Leave a Comment
BOSTON – Shareholders and Deutsche Bank AG (DB) have agreed to resolve all outstanding disputes in a securities lawsuit alleging that DB wrongly invested more than $ 200 million in auction-rate securities, according to a Dec. 19 joint motion to dismiss filed by both parties in Massachusetts federal court (Akamai Technologies, et al. v. Deutsche [...]
Dec
28
E*TRADE Announces $ 79M Settlement Of Subprime Claims In Securities Suit
December 28, 2011 | Leave a Comment
NEW YORK – E*TRADE Financial Corp. has agreed to a $ 79 million settlement with investors to settle claims that it misrepresented the risk associated with its investment in subprime mortgage-backed securities in violation of federal securities laws, according to a Securities and Exchange Commission Form 8-K filed by E*TRADE on Dec. 21 (Larry Freudenberg [...]
Dec
25
Countrywide Agrees To Pay $ 335M To Settle Government’s Discriminatory Lending Claims
December 25, 2011 | Leave a Comment
LOS ANGELES – Countrywide Financial Corp. has agreed to pay $ 335 million to settle claims by the U.S. government that the lender and its subsidiaries engaged in discriminatory lending practices by steering African-American and Hispanic borrowers toward subprime mortgage loans with higher interest rates and fees, the U.S. Department of Justice announced Dec. 21 [...]
Dec
16
Out-Of-State Employees’ Competition Law Claims Can Proceed, 9th Circuit Says
December 16, 2011 | Leave a Comment
SAN FRANCISCO – Out-of-state employees who worked in California may proceed with claims under California’s labor code and unfair competition law (UCL) but not with claims seeking to apply those laws to work done outside the state, the Ninth Circuit U.S. Court of Appeals held Dec. 13 (Donald Sullivan, Deanna Evich, Richard Burkow v. Oracle [...]