A judge has granted class action certification to a lawsuit alleging the Indiana Bureau of Motor Vehicles has systematically overcharged Hoosiers for drivers’ licenses since 2007.
Marion Superior Court Judge Heather Welch approved the class status in the case, which was filed in March. The judge’s ruling means she found the single lawsuit, rather than individual cases, a better option for resolving the issue potentially affecting a large number of people. Read more…
Moody’s Investors Service and Standard & Poor’s on April 26, 2013 said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated.
The lawsuits had accused Moody’s, a unit of Moody’s Corp , and S&P, a unit of McGraw-Hill Co.s, of negligent misrepresentation over their activities regarding the Cheyne and Rhinebridge structured investment vehicles (SIVs). Morgan Stanley, which marketed both SIVs and helped structure the Rhinebridge SIV, also settled. Read more…
Click here to read an article on the Public Justice website about a class action case against payday lenders which shows just how devastating the Concepcion case has been in regard to protecting consumer rights.
Two years ago, Rupert Murdoch and other board members of News Corp. were sued by shareholders for lax oversight and alleged misdeeds within the sprawling media conglomerate. News Corp. on Monday agreed to settle the case.
Now here’s the punch line: News Corp. will be the one collecting the $139 million settlement — not the shareholders who brought the suit.
Here’s how that worked out: Insurance companies that represent News Corp.’s board will make the payout on behalf of Murdoch and others on News Corp.’s board. The money will go into News Corp.’s corporate coffers. A Delaware judge overseeing the case must approve the settlement. Read more…
An overtime class action is grabbing headlines across the nation over claims of unpaid overtime and alleged illegalities involving tip pools, but also with regard to sensational claims appearing in social media, related to the case. The lawsuit has its roots in Nashville, but encompasses the laws of many states given the national status of the lawsuit, which involves current and former employees of the Coyote Ugly chain nationwide. Read more…
Arbitration is usually the only method for clients to seek compensation for wrongs committed by their brokers and financial advisors. Mandatory arbitration clauses are included in virtually all account-opening brokerage agreements. Their effect is to deny clients their day in court. Instead of a judge and jury determining the legal nuances and merits of complaints, arbitration forces clients to go before arbitrators that work for an organization. In the case of broker dealers that organization is Financial Industry Regulatory Authority (FINRA). Read more…
