Federal authorities have charged two men with running an insider trading scheme that netted more than $30 million with information stolen from law firms.
Garrett Bauer is scheduled to appear in U.S. District Court in Newark, N.J., on Wednesday afternoon. Matthew Kluger will make his first appearance in federal court in Alexandria, Va.
They're accused of trading on inside information stolen from Wilson Sonsini Goodrich & Rosati, a law firm with offices in Washington, D.C., New York, San Francisco and Hong Kong.
Authorities also allege the decades-long scheme used information stolen from prominent New York law firms Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom.
Wednesday, April 06, 2011
Louisiana to get $12M in Health Net case
The Louisiana Supreme Court has ordered Health Net Inc., a major health maintenance organization, to cover more than $180 million in claims by consumers, health care providers and creditors in Louisiana, Oklahoma and Texas.
Louisiana Insurance Commissioner Jim Donelon told The Advocate that Louisiana will get the smallest portion of the payout.
"We have about $12 million coming to us to policyholders, providers and general creditors, meaning companies who sold them supplies or that rented them space," Donelon said.
Donelon said the unanimous ruling, issued Friday, will reimburse all of AmCare Louisiana HMO's members, providers, and creditors for any losses caused by Health Net's conduct.
Health Net sold health plans in the three states to AmCareco Inc. in 1999. In 2002, the troubled health plans were placed under state supervision. Each of the state's insurance departments sued AmCareco and Health Net, alleging fraud, negligence, conspiracy and breach of fiduciary duty.
In 2005, a state district court jury awarded the Texas plaintiffs around $100 million in damages. In 2005, a state judge in Baton Rouge issued similar verdicts against Health Net and awarded $30 million to the Louisiana and Oklahoma plaintiffs.
Louisiana Insurance Commissioner Jim Donelon told The Advocate that Louisiana will get the smallest portion of the payout.
"We have about $12 million coming to us to policyholders, providers and general creditors, meaning companies who sold them supplies or that rented them space," Donelon said.
Donelon said the unanimous ruling, issued Friday, will reimburse all of AmCare Louisiana HMO's members, providers, and creditors for any losses caused by Health Net's conduct.
Health Net sold health plans in the three states to AmCareco Inc. in 1999. In 2002, the troubled health plans were placed under state supervision. Each of the state's insurance departments sued AmCareco and Health Net, alleging fraud, negligence, conspiracy and breach of fiduciary duty.
In 2005, a state district court jury awarded the Texas plaintiffs around $100 million in damages. In 2005, a state judge in Baton Rouge issued similar verdicts against Health Net and awarded $30 million to the Louisiana and Oklahoma plaintiffs.
Louisiana to get $12M in Health Net case
The Louisiana Supreme Court has ordered Health Net Inc., a major health maintenance organization, to cover more than $180 million in claims by consumers, health care providers and creditors in Louisiana, Oklahoma and Texas.
Louisiana Insurance Commissioner Jim Donelon told The Advocate that Louisiana will get the smallest portion of the payout.
"We have about $12 million coming to us to policyholders, providers and general creditors, meaning companies who sold them supplies or that rented them space," Donelon said.
Donelon said the unanimous ruling, issued Friday, will reimburse all of AmCare Louisiana HMO's members, providers, and creditors for any losses caused by Health Net's conduct.
Health Net sold health plans in the three states to AmCareco Inc. in 1999. In 2002, the troubled health plans were placed under state supervision. Each of the state's insurance departments sued AmCareco and Health Net, alleging fraud, negligence, conspiracy and breach of fiduciary duty.
In 2005, a state district court jury awarded the Texas plaintiffs around $100 million in damages. In 2005, a state judge in Baton Rouge issued similar verdicts against Health Net and awarded $30 million to the Louisiana and Oklahoma plaintiffs.
Louisiana Insurance Commissioner Jim Donelon told The Advocate that Louisiana will get the smallest portion of the payout.
"We have about $12 million coming to us to policyholders, providers and general creditors, meaning companies who sold them supplies or that rented them space," Donelon said.
Donelon said the unanimous ruling, issued Friday, will reimburse all of AmCare Louisiana HMO's members, providers, and creditors for any losses caused by Health Net's conduct.
Health Net sold health plans in the three states to AmCareco Inc. in 1999. In 2002, the troubled health plans were placed under state supervision. Each of the state's insurance departments sued AmCareco and Health Net, alleging fraud, negligence, conspiracy and breach of fiduciary duty.
In 2005, a state district court jury awarded the Texas plaintiffs around $100 million in damages. In 2005, a state judge in Baton Rouge issued similar verdicts against Health Net and awarded $30 million to the Louisiana and Oklahoma plaintiffs.
Texas death row inmate gets reprieve
The U.S. Supreme Court blocked the first scheduled execution of a Texas death row inmate using a new drug cocktail on Tuesday, although the proposed lethal mix was not mentioned in the court's decision to reconsider the merits of the condemned man's appeal.
Cleve Foster was to have been executed hours later for the 2002 slaying of a Sudanese woman in Fort Worth — the first Texas execution since the state switched to pentobarbital in its three-drug mixture. The sedative has already been used for executions in Oklahoma and Ohio.
On Tuesday morning, the high court agreed to reconsider its January order denying Foster's appeal that raised claims of innocence and poor legal help during his trial and early stages of his appeals.
Foster's lawyers also have argued that Texas prison officials violated administrative procedures last month when they announced the switch to pentobarbital from sodium thiopental, which is in short supply nationwide. Foster's lawyers contend that the rules change in Texas required more time for public comment and review. Lower courts have rejected their appeals and attorneys had planned to take their case to the Texas Supreme Court.
Cleve Foster was to have been executed hours later for the 2002 slaying of a Sudanese woman in Fort Worth — the first Texas execution since the state switched to pentobarbital in its three-drug mixture. The sedative has already been used for executions in Oklahoma and Ohio.
On Tuesday morning, the high court agreed to reconsider its January order denying Foster's appeal that raised claims of innocence and poor legal help during his trial and early stages of his appeals.
Foster's lawyers also have argued that Texas prison officials violated administrative procedures last month when they announced the switch to pentobarbital from sodium thiopental, which is in short supply nationwide. Foster's lawyers contend that the rules change in Texas required more time for public comment and review. Lower courts have rejected their appeals and attorneys had planned to take their case to the Texas Supreme Court.
Monday, February 14, 2011
Fixodent The Subject Of Class Action Lawsuit
A class action lawsuit is alleging that Fixodent denture cream may have caused serious problems.
ABC News reported that lawyers for two former denture cream users are accusing Proctor & Gamble of manufacturing a product that made their clients extremely ill.
Mark Jacoby, a 41-year-old construction worker who wore dentures for 20 years, told ABC News that he believes his debilitating neurological illness is due to the high zinc content in his Fixodent.
"I started getting tingling in my fingertips. And then it started happening in my toes," he told ABC News' 20/20 anchor Chris Cuomo, who is the Chief of the Law & Justice Unit. "I started getting weaker and, you know, I couldn't walk right, off balance and I'm at this point now."
He said his doctors searched for years for the cause of his debilitating neurological illness that robbed him of his independence.
ABC News reported that lawyers for two former denture cream users are accusing Proctor & Gamble of manufacturing a product that made their clients extremely ill.
Mark Jacoby, a 41-year-old construction worker who wore dentures for 20 years, told ABC News that he believes his debilitating neurological illness is due to the high zinc content in his Fixodent.
"I started getting tingling in my fingertips. And then it started happening in my toes," he told ABC News' 20/20 anchor Chris Cuomo, who is the Chief of the Law & Justice Unit. "I started getting weaker and, you know, I couldn't walk right, off balance and I'm at this point now."
He said his doctors searched for years for the cause of his debilitating neurological illness that robbed him of his independence.
IRS agents testify in Pa. judge corruption case
Federal prosecutors have rested in the corruption trial of a former northeastern Pennsylvania judge charged with taking part in a $2.8 million kickback scheme involving privately-owned juvenile detention centers.
Two IRS agents testified Monday morning in the trial of ex-Luzerne County Judge Mark Ciavarella. Prosecutors say Ciavarella and another judge disguised extortion payments as rent on a condo in Florida.
IRS agent Ray Eppley testified that the judges failed to pay nearly $500,000 in taxes on illicit income.
The state Supreme Court threw out thousands of juvenile convictions issued by Ciavarella, saying he disregarded the constitutional rights of the defendants. He has denied breaking any laws.
The second judge pleaded guilty to racketeering conspiracy and awaits sentencing
.
Two IRS agents testified Monday morning in the trial of ex-Luzerne County Judge Mark Ciavarella. Prosecutors say Ciavarella and another judge disguised extortion payments as rent on a condo in Florida.
IRS agent Ray Eppley testified that the judges failed to pay nearly $500,000 in taxes on illicit income.
The state Supreme Court threw out thousands of juvenile convictions issued by Ciavarella, saying he disregarded the constitutional rights of the defendants. He has denied breaking any laws.
The second judge pleaded guilty to racketeering conspiracy and awaits sentencing
.
Class Action Lawsuit Filed by Eagan Avenatti, LLP
Eagan Avenatti, LLP, a law firm specializing in consumer rights, filed a class action lawsuit earlier today in the United States District Court for the Northern District of Texas, Dallas Division (Case No. 3:11-cv-00248-M), alleging breach of contract, fraud and deceptive sales practices by Jerry Jones, the National Football League, the Dallas Cowboys Football Club and related defendants in connection with Super Bowl XLV held last Sunday in Arlington, Texas.
The complaint, which seeks compensatory damages of over $5 Million, claims that the unlawful acts of Jones, the NFL and the Cowboys resulted in approximately 400 fans who purchased tickets and traveled to the game being denied a seat, despite having spent thousands of dollars in tickets and travel expenses to attend the Super Bowl. The complaint also alleges that Jones and the Cowboys deceived Cowboys season ticket holders known as the “Founders” into paying $1,200 a seat for Super Bowl tickets that turned out to be temporary seats with obstructed views.
The “Founders,” who collectively account for over $100 Million in personal seat licenses sold to help fund construction of the stadium, each paid at least $100,000 per seat for their seat license, which the Cowboys and Jones promised would entitle them to the “best sightlines in the stadium” and the right to purchase a ticket to Sunday’s Super Bowl at face value. Instead, they arrived at the stadium Sunday to discover that they had been assigned to sit in obstructed view, temporary metal seats, which had only recently been installed in an effort to meet Jones’ goal of breaking NFL Super Bowl attendance records.
The complaint, which seeks compensatory damages of over $5 Million, claims that the unlawful acts of Jones, the NFL and the Cowboys resulted in approximately 400 fans who purchased tickets and traveled to the game being denied a seat, despite having spent thousands of dollars in tickets and travel expenses to attend the Super Bowl. The complaint also alleges that Jones and the Cowboys deceived Cowboys season ticket holders known as the “Founders” into paying $1,200 a seat for Super Bowl tickets that turned out to be temporary seats with obstructed views.
The “Founders,” who collectively account for over $100 Million in personal seat licenses sold to help fund construction of the stadium, each paid at least $100,000 per seat for their seat license, which the Cowboys and Jones promised would entitle them to the “best sightlines in the stadium” and the right to purchase a ticket to Sunday’s Super Bowl at face value. Instead, they arrived at the stadium Sunday to discover that they had been assigned to sit in obstructed view, temporary metal seats, which had only recently been installed in an effort to meet Jones’ goal of breaking NFL Super Bowl attendance records.
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