|
Monday, 07 November 2011 20:43 |
|
The Supreme Court says the Florida courts should reconsider whether arbitration is required for claims against an auditing firm that worked on a fund that invested with Bernie Madoff.
The high court on Monday reversed a decision by a Florida appeals court. KPMG was sued by investors in the Rye Funds, which lost millions of dollars to Madoff's Ponzi scheme. KPMG was the auditor for the Rye Funds, and the investors said the company did not use proper auditing standards.
KPMG says its contract requires arbitration but the state courts would not allow it.
The Supreme Court ruled that the Florida courts only looked at part of the claims being brought against KPMG. The high court ordered the lower courts to investigate all of the claims before making a decision.
|
|
Tuesday, 16 August 2011 15:34 |
|
A federal appeals court on Monday revived a lawsuit brought by a black Connecticut firefighter over a 2003 exam that led to the promotions of more than a dozen white firefighters ahead of him.
The decision of the 2nd U.S. Circuit Court of Appeals in Manhattan raised new questions about the impact of a Supreme Court ruling in favor of a discrimination lawsuit brought by 18 mainly white firefighters seeking promotions in New Haven, Conn., where white candidates outperformed minority candidates on the exam.
The 2nd U.S. Circuit said the lawsuit by firefighter Michael Briscoe was too hastily tossed out by a lower court judge who referred to the Supreme Court decision in Ricci v. DeStefano, a case brought in 2004.
The Supreme Court ordered New Haven to enforce the results of a 2003 exam that led to the promotions of 17 white firefighters and one Hispanic firefighter and the rejection of Briscoe's promotion quest. The Supreme Court said local governments can nullify the outcomes of such tests only if they can prove there is a "strong basis in evidence" that the tests were discriminatory.
The 2nd Circuit called the Supreme Court decision a "limited holding" and said its restoration of Briscoe's case was consistent with the Supreme Court's intent not to substantially change discrimination law with the Ricci case.
On the 2003 exam, no blacks scored high enough to be promoted to lieutenant or captain. New Haven had refused to certify the results because it said the exam was unfair to minority firefighters and it feared the outcome would lead to liability if the fairness of the results was challenged in court. The three-judge panel of the 2nd Circuit said it was unusual that the Supreme Court did not return the New Haven case to the lower court so the city could see if it had the evidence to prove there was a "strong basis" to show the test was discriminatory. |
|
|
Monday, 17 October 2011 17:18 |
|
The international law firm Greenberg Traurig, LLP won two awards in the Major Transaction category for Corporate/Strategic Acquisition of the Year and for Financing Deal of the Year at The M&A Advisor 3rd Annual International M&A Awards. The awards were presented for Greenberg Traurig's role in the business combination of Liberty Acquisition Holdings Corp. and Promotora de Informaciones, a transaction that involved more than 100 firm attorneys. The firm was also a finalist for M&A Deal of the Year and Turnaround Deal of the Year in the Major Transaction category and for Media, Entertainment and Telecom in the Sector Transaction category.
Leading the Liberty deal team at Greenberg Traurig were, from the Fort Lauderdale office, shareholders Donn Beloff, Bruce March and Brian Gavsie, and associate Bernie Grondin; from the Miami office, shareholders Patricia Menendez-Cambó, Chair of the firm’s Global Practice Group, Randy Bullard, and Mark Lopez, and associate Enrique Conde; from the New York office, shareholders Alan Annex and Ken Gerasimovich; from the Tysons Corner office, shareholder Jason Simon; from the Chicago office, shareholder Peter Lieberman; and from the Wilmington office, shareholder Kelly Terribile. The winners were announced at the 3rd Annual International M&A Awards Gala on Tuesday, October 11, 2011, at The Cornell Club in New York City.
Comprised of more than 350 lawyers in more than 30 offices, Greenberg Traurig’s Corporate and Securities/M&A Practice provides advice and services to companies and entrepreneurs throughout the Americas, Europe and Asia. Greenberg Traurig’s practice groups and attorneys have been recognized as No. 1 in their respective geographic regions by The National Law Journal, Chambers & Partners, Corporate Board Member magazine, Latin Lawyer magazine and numerous regional and local professional publications.
Most recently, Greenberg Traurig ranked 5th among all law firms representing investment banks in U.S. mergers and acquisitions transactions, with 12 announced transactions, in the 2011 Six-Month Banker Representations listing published by Corporate Control Alert. Firms were ranked by the total number of deals having a value of $100 million or more during the period from January 1, 2011 to June 30, 2011. According to league table reports published by Bloomberg, mergermarket and Thomson Reuters, during the first half of 2011, Greenberg Traurig had 50 M&A deals announced globally, with a value of approximately $60 billion, up from 30 announced deals valued at approximately $16 billion in the first half of 2010. The firm's advance was propelled by its role in several high-profile transactions. Greenberg Traurig ranked in the top 15 law firms nationally and top 20 law firms globally in eight rankings in the reports, which highlight deal activity at top law firms across a broad array of deal types, regions, and industry sectors.
For additional information, please visit www.gtlaw.com. |
|
Thursday, 23 June 2011 05:37 |
|
Judges and court workers have completed the data-collection part of a study aimed at making Kansas' court system more efficient.
The Wichita Eagle reported that the data will be analyzed by the National Center for State Courts. That national nonprofit group works to improve the justice system and lobbies on behalf of courts at the federal level.
The results of the $200,000 consultant study of how judges and other court workers spend their time will go to a panel that will recommend changes if they are needed.
Kansas Supreme Court Chief Justice Lawton Nuss said the panel also is gathering public input on ways to improve the courts. The two initiatives are called "Project Pegasus," after the winged horse in Greek mythology.
The goal is to prevent situations like last year when courts were closed four days.
"When our budget is cut or when we don't have enough money, it is our people who suffer, they're the ones who have to get sent home," Nuss told members of the Wichita Pachyderm Club, a Republican group, this past week. "Unfortunately that also comes at the expense of Kansas citizens, because when we have no money and we have to close the courts, the citizens no longer have access to justice."
Nuss said most of the consultant study is being paid for mostly from salary and benefit savings accrued after appellate Judge Jerry Elliott died in April of last year and former Supreme Court Chief Justice Robert Davis died last August.
|
|
