Wal-Mart v. Dukes

Justice Ruth Bader Ginsburg, writing for the four moderates on the court, dissented from Justice Scalia’s broader analysis and sought a much narrower holding.

– the New York Times editorial board, in an editorial about Wal-Mart v. Dukes entitled Wal-Mart Wins, Workers Lose.

We just learned, via the SCOTUSblog liveblog of today’s proceedings at the Supreme Court, that Wal-Mart v. Dukes has been decided. Here is some background about the case, one of the most closely watched of this Term, and here is the opinion of the Court.

Justice Scalia wrote the opinion of the Court, which was joined in its entirety by Chief Justice Roberts and Justices Kennedy, Thomas, and Alito. SCOTUS reversed the Ninth Circuit and held that class action certification should not have been granted in this case, brought on behalf of hundreds of thousands of female Wal-Mart employees who alleged a pattern and practice of pay and promotion discrimination by the giant retailer.

Justice Ginsburg filed an opinion concurring in part and dissenting in part, which was joined by Justices Breyer, Sotomayor, and Kagan. What did RBG have to say?

double red triangle arrows Continue reading “Supreme Court Rejects Nationwide Class Action Against Wal-Mart”

Ted Frank

Friday was not a pretty day for the stock market. The Dow Jones Industrial Average closed below 12,000, for the first time since March of this year — a 1.4 percent decline. The S&P 500 also fell by 1.4 percent, and the Nasdaq composite index fell by 1.5 percent.

Everyone is looking for an edge in this market (especially given the low returns you get by keeping your money on the sidelines, in cash, or by investing in real estate). This raises a question for legal eagles: Can knowledge of the law help you invest profitably?

One of our favorite folks here at Above the Law — Ted Frank, head of the Center for Class Action Fairness, whom we’ve dubbed the Class Action Avenger — believes the answer is yes. Earlier this month, he invested 10 percent of his net worth in a bet that one company’s stock is on the way up, based on a forthcoming Supreme Court decision.

Let’s find out which stock Frank is betting on, and why….

double red triangle arrows Continue reading “Can Legal Knowledge Help You Make Money in the Stock Market?”