New York News
August 27, 2012
New York Daily News | August 27, 2012
The city has doled out $134 million this year for medical mishaps at its 11 public hospitals, some during child birth and others resulting in permanent disabilities. And taxpayers are picking up the tab — more than half a billion dollars in the last four fiscal years alone, city records show.
August 21, 2012
American Lawyer | August 21, 2012
Investor lawsuits against the credit rating agencies have, for the most part, failed to gain traction with judges in the wake of the financial crisis. One notable exception has been in class action litigation on behalf of purchasers of notes issued by two structured investment vehicles that tanked after the subprime mortgage meltdown. The investors in one of the cases survived another crucial hurdle last week, though their lawyers at Robbins Geller Rudman Dowd still have their work cut out for them.
ThomsonReuters | August 21, 2012
Federal judges presiding over securities cases against the credit rating agencies have reached a consensus in the last few years: Ratings are opinions. That view has saved Standard & Poor's, Moody's and Fitch from a world of trouble, since their broadly circulated ratings of publicly traded securities have been deemed to be protected speech under the First Amendment.
NBC News | August 21, 2012
In July, Yankee Stadium became the first sports facility to earn the coveted federal "Safety Act" designation. That means the facility has passed a battery of tests and won approval from the Department of Homeland Security, so the Yankees have been granted a wide-ranging immunity from future lawsuits that might stem from terrorist attacks.
August 20, 2012
ThomsonReuters | August 20, 2012
A New York state judge has signaled a willingness to throw out a lawsuit over millions of dollars in losses on mortgage debt if the main plaintiffs bought the debt solely to recoup litigation fees.
National Law Journal | August 20, 2012
Approximately 50 lawsuits have been filed by investors who claim Facebook Inc. misled them about its financial condition before they purchased stock during the company's May 18 initial public offering, causing billions of dollars in losses.
American Lawyer | August 20, 2012
After nearly two decades of litigation against some of the biggest drug companies in the country, we're betting the last thing a group of individual pharmacies wanted to hear was that their claims were small potatoes.
Tags: New York
August 16, 2012
Corporate Counsel | August 16, 2012
The New York Department of Financial Services’ $340 million settlement with Standard Chartered Bank over money-laundering allegations made history Tuesday: its was the largest fine over money laundering collected by a single U.S. regulator. And for financial institutions operating in the Empire State’s banking hub, the settlement—overseen by an agency that’s only nine months old—also marks a new chapter in an era of increased scrutiny over money laundering.
August 15, 2012
Wall Street Journal | August 15, 2012
Britain's Standard Chartered bank agreed Tuesday to settle charges by the New York Department of Financial Services that it had helped Iran evade financial sanctions. The bank is paying a cool $340 million, but no one should believe that this makes New York banking regulator Benjamin Lawsky some kind of superhero.
ThomsonReuters | August 15, 2012
Standard Chartered is pursuing a collective settlement with other U.S. authorities after speedily agreeing to pay $340 million to New York's financial regulator, which broke ranks with early revelations that the bank hid banned Iranian transactions.
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From The Blog
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