(Reuters) – Later this week, the justices of the U.S. Supreme Court are scheduled to consider a petition by Connecticut gun rights advocates who want the court to strike down the state’s restrictions on military-style semiautomatic weapons – the type of firearm used in this weekend’s horrific mass shooting at a nightclub in Florida and in the 2012 massacre of first graders at Sandy Hook elementary school.
(Reuters) – In January 2012, an online reviewer named Christian Dupont posted a scathing comment at Ripoff Report about Boston lawyer Richard Goren, whose firm is called Small Justice. The post accused Goren, among many other scurrilous things, of defrauding elderly clients and filing baseless lawsuits to seize his clients’ assets. Goren, who says the allegations are “completely baseless and false,” sued Dupont for defamation in Massachusetts state court over the January post and a followup in February. Dupont never showed up, and Goren ended up with a judgment awarding him copyrights to the inflammatory posts.
(Reuters) – It happens all the time in securities class actions: Plaintiffs’ lawyers and fraud defendants agree to settlements based on the size of the company’s insurance policy for directors and officers. If a company carries, say, a $50 million D&O insurance policy, the class is better off settling for $50 million than allowing the insurance money to be paid out to defense lawyers – especially if the company claims it’s on the brink of bankruptcy.
(Reuters) – There is a curious disconnect between what the presumptive Republican presidential nominee Donald Trump says in public about the judge overseeing two class actions claiming Trump University was a swindle and what Trump’s lawyers do in court.
(Reuters) – The 7th U.S. Circuit Court of Appeals hit Wisconsin plaintiffs lawyer Christopher Stombaugh of Stombaugh Smith & Co with nearly $35,000 in sanctions on Wednesday, even though the three-judge panel agreed that Stombaugh’s complaint against BNSF Railway Company raised legitimate arguments on behalf of about 50 plaintiffs who blamed the railroad for flooding that destroyed their homes.
(Reuters) – This is not an easy time to be a shareholder lawyer in Delaware Chancery Court. It’s been more than a year since Chancery judges banded together to discourage reflexive M&A suits, announcing in a series of oral and written opinions that they would no longer approve settlements in which defendants agreed to boost deal disclosures in exchange for broad releases of potential shareholder claims. Chancery Court’s new policy deprived plaintiffs’ lawyers of a steady stream of income, and from cases that often didn’t require much work because they settled quickly.
In July 2014, nearly a year before Donald Trump declared his candidacy for the presidency of the United States, lawyers representing people who claim they were swindled by Trump University marketing asked a federal magistrate in San Diego to unseal documents that Trump and his co-defendants had designated as confidential.
(Reuters) – An item at Howard Bashman’s How Appealing blog caught my eye Thursday. Bashman linked to an article from the Milwaukee Journal Sentinel, reporting that the U.S. Supreme Court will allow Milwaukee District Attorney John Chisholm and two other Wisconsin prosecutors to file a certiorari petition under seal, with only a redacted version available to the public.
(Reuters) – On Thursday, the securities class action firm Bernstein Litowitz Berger & Grossmann hosted a teleconference for members of the Council of Institutional Investors, a coalition of public and private pension and benefits funds. The purpose of the call was to explain the stakes in North Sound Capital v. Merck, a case at the 3rd U.S. Circuit Court of Appeals that will inevitably deepen the circuit split on whether the filing of a securities class action tolls the statute of repose for individual shareholders. It’s an admittedly arcane issue, but procedurally significant for investors who want to opt out of securities class actions and bring their own claims.
Eight hundred years ago, the Silicon Valley billionaire Peter Thiel might have been guilty of crime for allegedly funding a privacy suit by the pro wrestler Hulk Hogan.