Posts tagged Business Litigation

• AIG Accountability

  Pete Burns | March 16, 2009 10:15 AM | 0 CommentsMobile, AL Category: Miscellaneous
  

  We are justifiably outraged that AIG is paying $165,000,000 in bonuses to its executives while taxpayers have paid $170 billion to bail AIG out. AIG says it is contractually obligated to make these...

• Contingency Fees in Business Litigation

  Billy Cunningham | March 13, 2009 10:53 AM | 0 CommentsMobile, AL Category: Miscellaneous
  

  Last week I wrote a blog on labor and materialmen liens and suggesting to contractors and suppliers that they protect themselves before getting into construction project. What happens in other...

• Lawsuit Bans Furniture Dealer From Doing Business in Florida

  Chrissie Cole | March 08, 2008 3:45 AM | 0 CommentsMobile, AL Category: Miscellaneous
  

  A lawsuit filed by Florida's Attorney General, against a Jacksonville furniture company, will prohibit the business from operating in Florida.The lawsuit, filed against Leather Depot, alleges the company is in violation of a prior business litigation settlement and is involved in deceptive business practices.In April 2006 Leather Depot settled with the Attorney General over complaints from...

• City of Cleveland Suing 21 Banks Over Increase in Mortgage Foreclosures

  Chrissie Cole | January 15, 2008 12:20 AM | 0 CommentsMobile, AL Category: Miscellaneous
  

  The city of Cleveland has filed a public-nuisance lawsuit against 21 of the biggest subprime mortgage lenders, such as Ameriquest Mortgage Co., seeking damages due to a huge increase in foreclosures.Filed Thursday, in Cuyahoga County Common Pleas Court, the lawsuit alleges the banks created a foreclosure crisis, following subprime mortgages that have left the city to sustain hundreds of millions...

• Arizona Attorney General Joins National Task Force Investigating Subprime Lending

  Chrissie Cole | September 09, 2007 9:16 PM | 0 CommentsMobile, AL Category: Miscellaneous
  

  Terry Goddard, Arizona Attorney General, has joined forces with a group of other state prosecutors to form a national task force to investigate subprime-lending practices.Goddard compared the newly created task force to the one started a few years ago by state attorneys general that investigated predatory lending. That effort led to a $325 million settlement with subprime lender Ameriquest.At...

• Top Ohio Bureau of Workers' Compensation Official Sentenced for Racketeering

  Jack Landskroner | May 10, 2007 11:19 AM | 0 CommentsCleveland, OH Category: Miscellaneous
  

  On Wednesday Tom Gasper, the former top financial officer at the Ohio Bureau of Workers' Compensation was sentenced to more than five years in prison for Racketeering. Gasper accepted bribes, including cash and the use of a Florida condominium, in return for steering BWC investments to friends. Gasper served as chief financial officer between 1995 and 2004, managing a $19 billion portfolio. He...

• Allianz Life Insurance Annuity Class Action Lawsuit Update

  Staff Writer | May 03, 2007 2:29 PM | 0 CommentsMobile, AL Category: Miscellaneous
  

  Allegations against Allianz Life Insurance Company of North America assert that the company conspired with a network of insurance sales agents to induce people 65 or older to purchase deferred annuities by means of misleading statements contained in the uniform sales materials. More specifically, the allegations are that Allianz failed to disclose facts that would have revealed its deferred...

• Insider Trading Case Moves Forward Against CEO

  Jack Landskroner | March 17, 2007 5:04 PM | 0 CommentsCleveland, OH Category: Miscellaneous
  

  The Insider trading trial against Quest's Communication's CEO is moving forward. The CEO of a corporation is privy to information that the general investing public and even investment brokers are not provided. For any insider, including the CEO, CFO or other officer or director, it is considered a criminal act to take advantage of non public information. To allow such conduct would permit...

• Allstate Ordered to Refund $56 Million

  Craig Cherry | March 15, 2007 12:00 PM | 0 CommentsWaco, TX Category: Miscellaneous
  

  A Travis County, Texas District Judge ordered Allstate Insurance to refund approximately $56,000,000.00 in overcharges to policyholders. The order is, in part, the result of ongoing litigation that began in December 2004 after the Texas Department of Insurance disapproved Allstate's proposed rate increase of five percent. The order requires Allstate to also pay interest to policyholders at an...

• Ohio Pension Funds Settle $175 Million Securities Fraud Case with AOL / Time Warner

  Jack Landskroner | March 08, 2007 8:24 AM | 0 CommentsCleveland, OH Category: Miscellaneous
  

  The Ohio Attorney General Marc Dann announced a settlement reached between Time Warner and a number of Ohio pension funds in the amount of $175 Million for claims arising from the losses suffered by these Ohio funds after the AOL Time Warner merger in 2001. The lawsuit alleged securities fraud and claimed that AOL inflated its stock price before the deal by misrepresenting sales, revenue and...