Category: Legal Industry

Whistleblower Wins Lawsuit Against Bank of America

10/5/2011   A federal agency ruled Wednesday in favor of the top-level executive who revealed the corrupt lending practices done at Countrywide Financial Corp was improperly fired for spearheading internal investigations that “found widespread and pervasive wire, mail and bank fraud” at the lender. Bank of America Corp, which acquired Countrywide, was ordered by the […]

Sustainability Debate Stirred by Legal Sea Foods with New Ad Campaign

9/29/2011   A succession of new print and television ads to be shown starting next week from the popular restaurant Legal Sea Foods may not sit well at the outset with some marine conservationists, as the funny sections unsuccessfully take both sides of the debate on sustainability. The new ad campaign’s intention is to promote […]

Legal Challenges to Derivatives Rules Worries Regulators

9/29/2011   The Commodity Futures Trading Commission is moving to protect dozens of derivatives regulations from legal challenges. According to an agency official, this developed after a federal appeals court nullified a new rule for corporate America. A Republican member of the commission, Scott O’Malia, said that his agency is recasting its so-called position limits […]

Court Junks Two Challenges to 2010 Health-Care Law

9/28/2011   A federal appeals court in the state of Virginia junked two challenges to the 2010 health-care law of the Obama administration, saying that it lacked the authority to rule on the constitutionality of the measure. With the rulings, the Richmond appellate court became the second U.S. appellate panel this year to leave the […]

Groups Backed by Financial Industry Can Gain Power in House Plan

9/28/2011   Legislators on Capitol Hill are pondering on plans to outsource the authority of the government over Wall Street and shifting some of the powers of the Securities and Exchange Commission to groups that are backed by the financial industry. A measure authorizing a self-regulatory group to examine over 10,000 investment advisory firms has […]

New York Race Tracks Soon to Have Legal Blackjack Card Games

9/27/2011   New York State politicians, for the first time, are considering permitting poker and blackjack card games in the state’s racetracks. According to gambling news reports, racetracks such as the Saratoga Casino and Raceway may soon turn into mini-casinos. The proposal’s supporters see no other means of making revenues for the cash-strapped state. Nearly […]

Pot-Club Issues to be discussed Tuesday by San Jose Council

9/27/2011 Harborside Health Center, which occupies around 6,000 square feet in an industrial park in North San Jose, is one of the largest “cannabis collectives” in the city. However, although Harborside is occupying a space equivalent to three average houses, it must expand to about five times as large to comply with a proposed new […]

Looming Battle over Guidelines on New Ingredients in Supplements

9/25/2011   One of the hottest issues that face the supplement industry, and can considerably alter the way business is done, is the proposed guidelines over any new ingredients used in dietary supplements. The FDA, in July, has issued its draft guidance on new dietary ingredients, often referred to as NDI’s. Companies are apprehensive that […]

Possible Corruption in Aerospace Eyed by FBI

9/25/2011   Possible corruption and bribery issues involving foreign state-owned airlines and the global aerospace industry are being tracked by U.S. law enforcement officials. This was revealed by government and legal sources. According to a document made available to some news outfits, the Federal Bureau of Investigation has briefed other government agencies back in June […]