Posts Tagged: litigation

The Judge Says So

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Just days ago, it appeared that a hundred low-wage workers at a Walmart-contracted warehouse in California would lose their jobs after publicly accusing their employer of shorting them on pay and forcing them to work in harsh conditions. But after the workers argued that the layoffs amounted to illegal retaliation, a state judge ordered this… Read more »

Insulting Discounts: The Costa Concordia Saga

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The owners of the Costa Concordia are offering survivors of the disaster a 30 percent discount off future cruises as they battle to stave off law suits expected to cost hundreds of millions of pounds. As the body of a 12th victim was found inside the hull of the £370 million, 1,000 ft vessel, survivors… Read more »

No More “Neither Admit or Deny”

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The Securities and Exchange Commission, in a fundamental policy shift, said Friday, January 6, that it would no longer allow defendants to say they neither admit nor deny civil fraud or insider trading charges when, at the same time, they admit to or have been convicted of criminal violations. This has been a longstanding practice… Read more »

How do you lose $1.2 Billion?

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Three of MF Global Holdings Ltd.’s top executives said they didn’t know what happened to as much as $1.2 billion in client funds that went missing in the days before the New York-based brokerage filed for bankruptcy. Jon S. Corzine, former chairman and chief executive officer of the broker testified in Congress that he didn’t… Read more »

Tickets, Anyone?

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Ticketmaster’s various fees and surcharges, which sometimes add 40 percent or more to the cost of a ticket, have long infuriated its customers. But next year, thanks to a recent class-action settlement, many of those fans will be able to get some money back. Questions: 1. According to the article, what are the two types… Read more »

Expensive Steaks

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Fifty diners at some of the better steakhouse restaurants in New York City, including the Capital Grille, Smith & Wollensky, JoJo and Wolfgang’s Steakhouse, became victims of a scam perpetrated by seven waiters using lipstick-size electronic “skimmers” to extract data from the magnetic strips of American Express Centurion, or “black,” cards and other high- and… Read more »

The Big Bank of America Settlement

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On November 7, 2011, a federal judge gave final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade.  The settlement became final a week after Charlotte, N.C.-based Bank of America backed off a plan to charge… Read more »

Raj Going to the Big House

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Raj Rajaratnam is entering the next phase of his insider trading case. A Federal District Court judge, Richard J. Holwell, sentenced Mr. Rajaratnam to 11 years in a federal prison, and he will now try to remain out of prison as long as possible while his lawyers prepare a promised appeal. This is the longest sentence… Read more »

Typos cost businesses money

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Websites could be losing millions in online sales because of poor spelling and grammar. This is because Internet users are becoming more wary of scams which are typically riddled with errors and are then reluctant to make purchases on websites. As the BBC reported in July 2011, Charles Duncombe, an Internet entrepreneur based in the… Read more »