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N.Y. probing equity firms, including Bain
U.S. Legal News |
2012/09/07 23:08
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New York's attorney general is investigating tax strategies of some of the nation's largest private equity firms, including Bain Capital, founded by Republican presidential nominee Mitt Romney, an official familiar with the probe said Sunday.
Attorney General Eric Schneiderman is examining whether the firms have abused a tax strategy to avoid paying hundreds of millions of dollars in taxes, said the official, who spoke on the condition of anonymity because of the sensitivity of the probe. The practice involves converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.
Some tax experts who spoke to The New York Times, which first reported the investigation Sunday, believed the strategy was potentially illegal, though other experts said it was commonplace and proper.
The Democratic attorney general sent subpoenas to more than a dozen firms, including Kohlberg Kravis Roberts & Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, according to the official. |
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Lawyer: NM gov aide recorded on state email use
Law & Politics |
2012/09/05 23:08
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An Albuquerque attorney said Tuesday he has a recording of the governor's top aide telling one of his clients that he never uses state email to conduct business because "I don't want to go to court (or) jail."
But the aide said the small recorded clip released to reporters is out of context, and he vowed to file an ethics complaint because the full recording outs a young female relative of the aide as a witness in a sexual assault case.
Defense attorney Sam Bregman represents fired Department of Corrections worker Larry Flynn in a wrongful termination case in which the administration's use of private email accounts was first revealed. He released the recording to reporters and said it is of Republican Gov. Susana Martinez's chief of staff, Keith Gardner.
Speaking at a news conference held in his office, Bregman, a Democrat and vocal critic of Martinez, said the secret recording is of a conversation between Gardner and a friend, Brian Powell of Roswell. Powell told Bregman he made the recording when he and Gardner were having a conversation about family issues. Powell, who works for the Roswell Fire Department, did not tell Gardner he was recording him, and it's unclear why he was recording him. |
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California deputy pleads guilty to weapons charge
Court Feed News |
2012/08/31 19:05
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A former Sacramento County sheriff's deputy has pleaded guilty to a federal charge stemming from the illegal sale of dozens of weapons, some of which were used by criminals.
Prosecutors in Sacramento say Thomas Lu and fellow former deputy Ryan McGowan, both of Elk Grove, bought and sold handguns that cannot be legally owned by citizens in California.
Lu, age 42, pleaded guilty Tuesday in federal court to one count of dealing in firearms without a license, which carries a maximum sentence of five years in prison.
He is agreeing to cooperate with investigators as part of a deal that could bring him a lighter sentence.
The deputies are charged with serving as straw buyers who trafficked in restricted handguns. |
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Apple lists 8 Samsung products it wants banned
U.S. Legal News |
2012/08/29 19:05
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Apple Inc. on Monday gave a federal judge a list of eight Samsung Electronics Co. products it wants pulled from shelves and banned from the U.S. market, including popular Galaxy model smartphones.
U.S. District Judge Lucy Koh asked for the list after a jury in San Jose last week slammed Samsung with a $1.05 billion verdict, finding that the South Korean technology giant had "willfully" copied Apple's iPhone and iPad in creating and marketing the products. Samsung plans an appeal.
The products Apple wants out are all smartphones: Galaxy S 4G, Galaxy S2 AT&T, Galaxy S2, Galaxy S2 T-Mobile, Galaxy S2 Epic 4G, Galaxy S Showcase, Droid Charge and Galaxy Prevail.
Koh on June 26 banned the Galaxy Tab 10.1 from the U.S. market after finding it likely violated a "design patent." Samsung is now asking for that ban to be lifted after the jury found the computer tablet didn't infringe that particular patent, but it did find it infringed three Apple's software patents that cover the popular "bounce-back" and pinch-to-zoom features.
The judge has scheduled a Sept. 20 hearing to discuss Apple's demands for the sales bans. She asked Apple on Friday to submit the list of products its wants removed from U.S. stores after Samsung complained that it doesn't have enough time to prepare for the scheduled hearing. |
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Pomerantz Law Firm Has Filed a Class Action
Class Action News |
2012/08/24 19:23
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Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a securities class action lawsuit against Monster Beverage Corporation and certain of its officers. The class action, filed in the United States District Court, Central District of California, is on behalf of all persons or entities who purchased or otherwise acquired Monster securities between February 23, 2012 and August 9, 2012, both dates inclusive (the "Class Period"). This securities class action seeks to recover damages caused by the Company's violations of the federal securities laws and to pursue remedies under § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder against the Company and certain of its top officials.
If you are a shareholder who purchased Monster securities during the Class Period, you have until October 22, 2012 to ask the Court to appoint you as Lead Plaintiff for the class.
The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors.
www.pomerantzlaw.com. |
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Appeals court removes key civil service protection
Legal World News |
2012/08/22 22:05
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A federal appeals court ruling that has taken key civil service protection away from government employees involved in national security work will have far-reaching implications, advocates for federal workers say.
Tom Devine, legal director of the Government Accountability Project, a whistle-blower advocacy group, said Tuesday that the appeals court has given agencies "a blank check to cancel all government accountability in civil service law."
In a 2-1 decision Friday involving two Defense Department employees, the U.S. Court of Appeals for the Federal Circuit said the Merit Systems Protection Board is prohibited from reviewing dismissals and demotions of government employees who hold "noncritical sensitive" positions, regardless of whether those jobs require access to classified information.
The dissenting judge in the case said the decision "effectively nullifies" the 1978 civil service law. Advocates for federal workers point out that federal employees in "noncritical sensitive" jobs work at many federal agencies, making the impact of the ruling government-wide. |
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