SEC

On any list of “scum of the Earth,” people who profiteer off of disaster victims have to make the list. Jesus, it’d be worth Hell existing just so there would be a place for people who take advantage of disasters to loot electronics or valuables (food, if you’re hungry and nobody is home, is fair game I guess). I think there are reasonable people on both sides of the New York City marathon debate, but the thought of any police not stopping a looter to deal with the marathon makes me think they should cancel this year’s event.

Of course, looters aren’t the only kinds of criminals trying to take advantage of the hurricane. The Department of Justice is warning people to be on the lookout for Sandy scams…

double red triangle arrows Continue reading “In The Aftermath Of Disaster, The Scam Artists Come Out”

Judge Jed Rakoff

It is commonplace for settlements to include no binding admission of liability. A settlement is by definition a compromise. We know of no precedent that supports the proposition that a settlement will not be found to be fair, adequate, reasonable, or in the public interest unless liability has been conceded or proved and is embodied in the judgment. We doubt whether it lies within a court’s proper discretion to reject a settlement on the basis that liability has not been conclusively determined.

Having considered the various explanations given by the district court for its refusal to permit the settlement, we conclude that the S.E.C. and Citigroup have a strong likelihood of success in their joint effort to overturn the district court’s ruling.

– A panel of the U.S. Court of Appeals for the Second Circuit, in a per curiam opinion granting a stay pending appeal in the SEC’s case against Citigroup.

(A quick refresher on this case, after the jump.)

double red triangle arrows Continue reading “Benchslap of the Day: Second Circuit Rebukes Rakoff”

* Rick Perry’s motion for a temporary restraining order over the printing of Virginia’s primary ballots without his name on them has been denied. Damn all of those unelected, activist judges! [Bloomberg]

* Jed Rakoff isn’t the only one with cojones big enough to challenge the SEC. Wisconsin Judge Rudolph Randa fell right in line, and cited the controversial Citigroup case as precedent. [New York Times]

* Looking for ways to lower your law firm’s operating expenses in 2012? Here are some suggestions for Biglaw firms. At least they deal with technology, not layoffs. [Law.com]

* Long, hard litigation: a Los Angeles city attorney would like to pull out of a ballot measure that requires porn stars to wear condoms while filming before people start suing. [Los Angeles Times]

* Do you want to think about babies when you’re being served at a strip club? Didn’t think so. This pregnant waitress is suing over being demoted, and then fired by the Hustler Club. [Gothamist]

* Grumpiest old man: at almost 100, an Italian man is set to become the world’s oldest divorcé. Hope he had a prenup (even though they probably didn’t exist back then). [Herald Sun]

* Pizza, beer, and hot chicks: what’s the problem? A lawsuit over the “hot chicks.” A former bartender says he was replaced in favor of hotties, and now he wants justice (and money). [11 Alive News]


* How many of these suggested New Year’s resolutions should the members of the Supreme Court consider following? Eight out of ten resolutions wouldn’t be too shabby. [Huffington Post]

* Like a virgin, detained for the very first time: thanks to this court order, Egypt will be forced to come out of the dark ages and ban virginity tests for female detainees and military prisoners. [CNN]

* Oh, hell no. Judge Jed Rakoff issued an order 78 seconds after the Second Circuit decided to delay the SEC’s Citigroup case. His pimp hand is strong (which is impressive!). [WSJ Law Blog]

* As an attorney, you should know that the law stops for no one, not even Santa Claus. Major deals in Asian markets kept many Biglawyers working hard this holiday season. [Am Law Daily]

* Social media subpoena fail: “Haha. Boston PD submitted to Twitter for my information. Lololol? For what? Posting info pulled from public domains? #comeatmebro” [Boston Herald]

* 2011 didn’t bring us a white Christmas, but New Yorkers are still pissed about the Great Blizzard of 2010. The trapped A-train passengers have finally brought suit against the MTA. [New York Post]

* A former stripper is suing a police officer for allegedly stealing money from her purse. This girl fit $714 in dollar bills in a small, Coach bag? That’s actually a real accomplishment. [ABC News]

* It’s been seven hours and fifteen sixteen days, since you took your love away. Nothing compares to a Vegas wedding, because Sinead O’Connor’s marriage is already over. [Los Angeles Times]

* A man on trial for sex crimes at a Minnesota courthouse allegedly shot three people yesterday, including prosecutor Timothy Scannell. Guess it’s time to get a metal detector. [Duluth News Tribune]

* Instead of trying to force Citigroup’s hand on a tougher settlement, the SEC is appealing Judge Rakoff’s rejection of the original. Don’t want to make the SEC do more work now, judge. [Bloomberg]

* You’d think that by now, law schools facing scrutiny over employment data would be willing to turn over some information to Law School Transparency, but you’d be wrong. [National Law Journal]

* China’s King & Wood and Australia’s Mallesons Stephen Jaques are combining to form a happy family this March. If this were in Japan, they’d be the Godzilla of law firms. [Wall Street Journal]

* Obvious news alert: Foxy Knoxy was acquitted of murder because there wasn’t enough evidence to prove she was guilty of murder. Thanks for this brilliant observation, Judge Hellman. [CNN]

* The Toy & Action Figure Museum will be opening a lawyerly superhero exhibit. This generation of lawyers has no superheroes, because unemployment isn’t a super power. [ABA Journal]

* Should the Supreme Court be forced to televise oral arguments? Yes, but only on the condition that we get spin-off shows called Wise Latina Justice and Ruthie’s Law. [WSJ Law Blog]

* Rod Blagojevich won’t get leniency during sentencing. He’ll spend the next week lamenting the fact that can’t brush his beautiful hair like Marcia Brady while in prison. [Bloomberg]

* Brynee Baylor, a D.C. attorney, has been charged with fraud by the SEC. Hey, sometimes you gotta do what you gotta do to get yourself a pair of Jimmy Choos. You go girl. [Blog of Legal Times]

* Plan B, the morning-after pill, may soon be available on drugstore shelves thanks to the FDA. But so what? Plan A, keeping your legs closed, is a much cheaper alternative. [New York Daily News]

* Pakistani actress Veena Malik is suing FHM for $2M. She only wanted to go topless on the cover, but she claims they made her look full on nude. Have at it, pixel inspectors. [New York Magazine]

* Yet another appeals court has has ruled that Obamacare is constitutional. Aww, can’t we wait for the other side to catch up a little before it goes to the Supreme Court? [Wall Street Journal]

* How did it go for this controversial ballot initiative? As it turns out, the personhood amendment was so stupid that it couldn’t even pass in Mississippi. Color me surprised. [New York Times]

* Raj Rajaratnam has to pay $92.8M in penalties in his SEC case, but come on, he’s a billionaire. Much like the honey badger, Raj don’t care, and he certainly don’t give a sh*t. [Bloomberg]

* We thought this might be a swing and a miss, but the Dodgers won approval to pay Dewey & LeBoeuf and Young Conaway after hitting the Trustee’s curveball out of the park. [Businessweek]

* Best use of footnotes ever? Pitbull’s lawyers are trying to get LiLo’s case against him removed to federal court, and gossip rags are cited in the footnotes more than law. [Hollywood Reporter]

A few years ago, the law firm of Nixon Peabody came up with a catchy jingle to celebrate its own fabulosity. You can listen to the song here, in case you’ve never heard it. The chorus went as follows: “Everyone’s a winner at Nixon Peabody!”

Alas, a recent lawsuit filed against Nixon Peabody by a former partner at the firm, David Tamman, does not put the firm in a very winning light. Instead, it just makes everyone look bad.

The allegations are seamy. What does Tamman allege?

double red triangle arrows Continue reading “Lawsuit of the Day: Everyone’s A Loser in Tamman v. Nixon Peabody”

Judge Ginsburg: back to school.

* Judge Douglas Ginsburg (D.C. Cir.) is taking senior status and joining the NYU Law faculty. Query how this will affect his feeding (and no, we’re not talking about New York versus D.C. restaurants). [The BLT: The Blog of Legal Times]

* “Two Examples of Things Not to Say When You’re at Your Local IRS Office.” [Going Concern]

* Speaking of efficiency-challenged government entities, how can the U.S. postal service be fixed? Professor Gerard Magliocca floats some ideas. [Concurring Opinions]

Madonna: going to court.

* Should you rinse religion from your résumé? Reflections from Professor Paul Horwitz. [PrawfsBlawg]

* The Material Girl is going to trial — over the trademark to “Material Girl.” [Fashionista]

* It’s not just law schools that are getting sued for fraud; it’s happening to art schools too. [PetaPixel]

* Elsewhere in litigation land, Quinn Emanuel is making bank — by suing banks. [Thomson Reuters News & Insight]

* What’s the deal with high-frequency trading algorithms? Fear not; the SEC is on the case. [Dealbreaker]

Elie wishes he had taken the nuggets.

* What can law firms learn from Folgers crystals? Maybe how to provide legal services rich enough to be served to America’s finest corporations. [What About Clients?]

* A look at what $100,000 in law school loans could have purchased instead — e.g., 505,050 chicken nuggets from Wendy’s. [Constitutional Daily]

* What kind of “reasonable accommodations” are alcoholics entitled to in the workplace? A three-martini mojito lunch sounds good to me. [Overlawyered]

* Some thoughts from Henry Blodget on Groupon and the SEC-mandated “quiet period.” Any thoughts, readers, on Blodget’s take on attorney/client privilege? [Business Insider]

* Professor Ann Althouse on the exoneration of Justice David Prosser (noted in Morning Docket): “A justice is despised because his decisions do not please liberals, and so, without thought, they forgot about things liberals like to love themselves for caring about, such as fairness and due process.” [Althouse]

Is it wrong to find Justin Bieber totally hot? Just askin'....

* E-discovery is moving to the cloud. What are the opportunities and the risks? Ben Kerschberg and Bret Laughlin discuss. [Forbes]

* Speaking of e-discovery, the DISH Network and Redgrave LLP are sponsoring an e-discovery research and writing competition, open to law students. [dishdiscovery]

* Law librarian Joe Hodnicki weighs in on the controversy over ScamProf aka Paul Campos and his controversial blog. [Law Librarian Blog]

* If you share Staci’s opinion that Justin Bieber “kind of looks like a girl,” here’s some support for your viewpoint. [Fashionista]

* The American Constitution Society is holding an online symposium in honor of the unveiling of the Martin Luther King Jr. National Memorial. [ACSblog]

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