In the News Today - October 24, 2013

October 24, 2013

A federal appeals court has rejected the Delaware Court of Chancery’s confidential arbitration process for resolving business disputes, ruling that the system violates the First Amendment. The Chamber supported the arbitration program, calling it a cost-effective and efficient way for businesses to resolve disputes, especially complex commercial ones. Washington Post

A former executive at Law Funder has been sentenced to two-and-a-half years in prison for his role in a kickback scheme. New Jersey Law Journal

An Illinois judge who oversees asbestos litigation is defending a $2,000 campaign contribution he received from an asbestos plaintiffs’ firm, saying the donation does not pose a conflict of interest. The judge’s predecessor had been reassigned after taking contributions from lawyers at asbestos firms. Madison County Record

A jury has ruled against Bank of America in the government’s fraud case against the bank. Prosecutors used a 1989 that penalizes behavior affecting federally insured financial institutions. In a twist, they are going after banks for essentially defrauding themselves. Wall Street Journal ($)