David's Feed
May 6, 2015

Boxing fans accuse Pacquiao of concealing injury

By David Ingram

(Reuters) – Boxer Manny Pacquiao has been sued in several
U.S. courts by people who said they paid to watch him fight
Floyd Mayweather Jr. in the “Fight of Century” but felt
defrauded by Pacquiao’s failure to disclose a pre-bout shoulder
injury.

At least five lawsuits were filed against Pacquiao on
Tuesday in federal courts in California, Illinois, Nevada and
Texas. The lawsuits seek compensation under laws meant to
protect consumers and ask for status as class actions on behalf
of ticket buyers, pay-per-view television viewers and people who
gambled on the fight.

May 5, 2015

Pacquiao sued in U.S. for allegedly concealing injury

By David Ingram

(Reuters) – Boxer Manny Pacquiao was sued in a U.S. court on
Tuesday by two people who said they paid to watch him fight
Floyd Mayweather Jr. in the “Fight of Century” but felt
defrauded by Pacquiao’s alleged failure to disclose a pre-bout
shoulder injury.

The lawsuit was filed by Stephane Vanel and Kami Rahbaran in
federal court in Nevada. It seeks compensation under laws meant
to protect consumers and asks for status as a class action on
behalf of ticket buyers, pay-per-view television viewers and
people who gambled on the fight.

May 2, 2015

Baltimore homicide charges could face swift initial court test

By David Ingram and Mica Rosenberg

(Reuters) – The chief Baltimore prosecutor, who came out swinging on Friday with charges against six police officers in the death of a 25-year-old man, could be quickly asked to disclose some of the potential evidence she has collected.

At a news conference Friday, Marilyn Mosby accused the officers of illegally arresting Freddie Gray, placing him in a police van without a seatbelt and with his legs shackled and his hands cuffed, and then ignoring his pleas for medical help. Mosby charged the officer who drove the van with second-degree murder and the others with lesser charges, including manslaughter.

Apr 30, 2015

American Express told it cannot enforce anti-steering rules against merchants

NEW YORK (Reuters) – Merchants unhappy with the fees
American Express Co charges them may steer customers
toward less expensive cards without fearing retaliation from the
credit card company, a federal judge ruled on Thursday.

Judge Nicholas Garaufis in Brooklyn federal court said
American Express may not stop restaurants and stores, for
instance, from offering discounts, rebates or other incentives
for using lower-fee cards. Merchants may also tell customers
about the relative costs of using particular cards, the judge
ruled.

Apr 23, 2015

Boies, Dershowitz duel in defamation case concerning sex trafficking claims

NEW YORK (Reuters) – Prominent U.S. litigator David Boies is squaring off against another top American attorney, Alan Dershowitz, in a legal fight centered around a woman who says she was trafficked for sex as an underage girl.

Boies and his firm are representing Virginia Roberts, who is a possible witness in a defamation lawsuit in Florida state court pitting Dershowitz against two lawyers who are working for her in a separate federal case.

Apr 22, 2015

‘Flash crash’ whistleblower may see multi-million dollar pay day

WASHINGTON/NEW YORK (Reuters) – An anonymous tipster who claims to have led the U.S. government to bring charges against alleged “flash crash” trader Navinder Singh Sarao could potentially reap millions of dollars under a federal whistleblower award program.

The U.S. Commodity Futures Trading Commission’s (CFTC) whistleblower program, created after the 2010 Dodd-Frank Wall Street regulatory reform, awards tipsters between 10 percent and 30 percent of the total sanctions collected if the government collects $1 million or more.

Apr 21, 2015

Analysis – ‘Flash crash’ market manipulation case poses test for prosecutors

NEW YORK (Reuters) – Charges against a high-frequency trader for helping to spark the 2010 “flash crash” present a test of U.S. prosecutors’ ability to win a big market manipulation case and may make other traders nervous they may be next, lawyers said on Tuesday.

The charges against Navinder Singh Sarao, 36, drew reactions of astonishment from securities lawyers interviewed by Reuters because criminal charges for market manipulation are so rare.

Apr 21, 2015

‘Flash crash’ market manipulation case poses test for prosecutors

NEW YORK (Reuters) – Charges against a high-frequency trader for helping to spark the 2010 “flash crash” present a test of U.S. prosecutors’ ability to win a big market manipulation case and may make other traders nervous they may be next, lawyers said on Tuesday.

The charges against Navinder Singh Sarao, 36, drew reactions of astonishment from securities lawyers interviewed by Reuters because criminal charges for market manipulation are so rare.

Apr 16, 2015

Ex-JPMorgan banker charged with taking $20 million from clients

NEW YORK (Reuters) – A former investment adviser at JPMorgan Chase & Co was arrested Thursday and charged with taking at least $20 million out of client accounts and using it to unsuccessfully trade options and pay personal expenses, authorities said.

Michael Oppenheim, 48, was arrested at his New Jersey home, authorities said. He worked at the bank nearly continuously from 2002 until last month, according to a criminal complaint for fraud and embezzlement filed in Manhattan federal court.

Apr 16, 2015

Internet provider wants ‘net neutrality’ challenge heard in New Orleans

By David Ingram

(Reuters) – A Texas-based Internet provider is requesting
that a federal appeals court in New Orleans, not one in
Washington, be the court that hears a challenge to new Web
traffic regulations known as “net neutrality” rules.

Alamo Broadband Inc filed a lawsuit on Wednesday in the 5th
U.S. Circuit Court of Appeals in New Orleans asking it to review
the regulations from the Federal Communications Commission.