Saturday, February 4, 2012



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Botox Maker to Pay $600 Million in Settlement Over Off-Label Uses

by Attorney

Allergan has agreed to pay $600 million in criminal and civil penalties and plead guilty to one misdemeanor count of "misbranding" its drug Botox as part of a global settlement with the federal government over off-label uses of the drug. As part of the plea deal, Allergan agreed to drop its First Amendment legal action [...]

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Aging Divorce Lawyer Sues Former Partners for $26 Million

by Attorney

Prominent divorce lawyer Norman M. Sheresky, 82, lodged a $26 million suit against his former partners at Sheresky Aronson Mayefsky & Sloan on Friday after being pushed out earlier this month. Sheresky -- whose clients have included former supermodel Christie Brinkley's most recent ex-husband and actor James Gandolfini's ex-wife -- alleged his former partners in [...]

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Plaintiffs Lawyers in 9/11 Cases Lose Bid to Recoup $6.1 Million in Interest

by Attorney

Plaintiffs lawyers in the 9/11 respiratory cases cannot pass on to clients some $6.1 million in interest costs associated with financing the massive litigation, a New York federal judge ruled Friday. Even though the lead lawyer marshaled opinions by bar associations, court cases and experts to show that borrowing to finance litigation and passing the [...]

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Minn. Bridge Collapse Victims Get $52 Million Settlement

by Attorney

Attorneys for the victims of the bridge collapse that killed 13 people in Minneapolis in August 2007 announced Monday that they had reached a settlement with the engineering company responsible for inspecting the bridge. In negotiations held this past weekend, URS Corp. agreed to pay $52.4 million to more than 100 people who sued the [...]

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Ex-Attorney Charged With Embezzling $1 Million From Clients, Firm

by Attorney

Former Pennsylvania attorney Jeffrey Abramowitz has been indicted on charges of embezzling more than $1 million from his clients by lying to them about the settlements of their cases. The indictment alleges that Abramowitz told some of his firm's clients that funds from their civil lawsuits and other transactions would be held in escrow by [...]

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9th Circuit Reverses $29 Million Fee Award Over Procedural Problem

by Attorney

A federal appeals court has snatched away a $29 million fee award that two law firms received for serving as lead plaintiffs counsel in a California backdating securities class action against Mercury Interactive Corp. A 9th Circuit panel on Wednesday vacated a lower court ruling granting the fee award to New York's Labaton Sucharow and [...]

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$55 Million Suit Against Paul Hastings Over Acquisition Loan Goes Forward

by Attorney

A $55 million lawsuit by a unit of Cerberus Capital Management L.P. can proceed against Paul Hastings over allegations the firm gave faulty advice on a loan made in connection with a private equity firm's 2008 acquisition of bankrupt retailer Steve & Barry's. A New York judge said the law firm had not shown it [...]

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$125 Million Shareholder Settlement Approved in New Century Financial Collapse

by Attorney

A federal judge on Monday granted preliminary approval to a $125 million cash settlement for shareholders of bankrupt New Century Financial, one of the largest lenders to collapse during the subprime mortgage meltdown. The settlement involves three stipulations: Auditor KPMG LLP will pay $44.75 million; the underwriter defendants will pay $15 million; and New Century's [...]

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Baker & McKenzie to Pay $6 Million in Settlement Over Coudert Business

by Attorney

Baker & McKenzie has agreed to pay $6.65 million to compensate Coudert Brothers' bankruptcy estate for profits Baker earned from unfinished business that partners took with them when they left the defunct Coudert. Baker will forfeit most of its interest in an estimated $17 million in contingency fees for litigation that former Coudert partners were [...]

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Goldman Sachs Settles SEC Fraud Charges for $550 Million

by Attorney

In the largest-ever penalty paid by a Wall Street firm, Goldman Sachs on Thursday agreed to pay $550 million to settle Securities and Exchange Commission charges that it misled investors in a collateralized debt obligation by misstating and omitting key facts. Goldman admitted that it made mistakes and regretted its failure to disclose relevant information. [...]

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Novartis Settles Gender Bias Suit for $152 Million

by Attorney

Novartis Pharmaceuticals will pay upwards of $152.5 million to potentially thousands of female employees to settle the remainder of gender bias claims brought by field representatives who claimed they were discriminated against in pay, promotion and pregnancy policies. On May 19, a New York jury awarded $250 million in punitive damages, the largest-ever award in [...]

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Novartis Hit With $250 Million in Punitives in Gender Bias Case

by Attorney

Novartis Pharmaceuticals was slammed with $250 million in punitive damages on Wednesday in the largest-ever award in a gender bias case. A New York federal jury took slightly more than one day of deliberations to deliver the blow after finding the company liable for discrimination against women employees in pay, promotion and pregnancy policies. One [...]

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Jury Awards $200 Million in Punitive Damages in Asbestos Case

by Attorney

A Los Angeles jury awarded $200 million in punitive damages and $8.8 million in compensatory damages in an asbestos product liability case last week. A California punitive damages expert said it's rare for punitives to be awarded in asbestos cases, but it remains to be seen how much of it will survive. After the jury [...]

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Government's $16.4 Million Fine Could Boost Lawsuits Against Toyota

by Attorney

The National Highway Traffic Safety Administration's $16.4 million civil penalty against Toyota could bolster legal claims that the automaker committed consumer fraud and racketeering. It also could assist plaintiffs attorneys in obtaining thousands of documents for use in their cases, according to plaintiffs lawyers and legal experts. The fines may also boost class actions filed [...]

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Discovery Failure Sinks Lockheed's $37 Million Win

by Attorney

A federal judge has tossed out a $37.3 million trade secrets verdict for Lockheed Martin and ordered a new trial after finding the aircraft company failed to turn over documents critical to the case to a defendant competitor. The judge said it was "probable" that the outcome of the trial would have been different if [...]

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Encyclopaedia Britannica Sues Dickstein Shapiro for $250 Million

by Attorney

Encyclopaedia Britannica is suing Dickstein Shapiro for more than $250 million, claiming that the firm botched a patent application. The suit, filed Thursday in the U.S. District Court for the District of Columbia, alleges that Dickstein Shapiro mishandled several patents, leading the encyclopedia maker to lose a patent infringement suit it brought against several GPS [...]

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Fla. Court Upholds $24 Million Verdict Against Tobacco Companies

by Attorney

A nine-year-old products liability case produced a major victory over tobacco companies Wednesday when a Florida appeals court upheld a $24.8 million award to a man who died of cancer shortly after trial. The appellate panel offered no legal reasoning in its unsigned one-paragraph decision in John Lukacs' case against cigarette makers Philip Morris USA, [...]

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BofA Settles Municipal Bond Investigation for $137 Million

by Attorney

Bank of America has agreed to pay $137.3 million to resolve allegations of bid rigging in the municipal bond industry, U.S. Justice Department officials said Tuesday. View full legal post on Law.com - Newswire Tags: Municipal, $137, investigation, Settles, BofA

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