Law Advice

JACKSONVILLE, Fla. – A Florida federal judge on Jan. 23 conditionally certified a class of employees of a mattress retailer for the purpose of finalizing a $ 1.6 million settlement of the employees’ unpaid overtime claims (Bradley Hosier v. Mattress Firm, Inc., No. 10-294, M.D. Fla.; 2012 U.S. Dist. LEXIS 7435). View full post on [...]

Liverpool’s Silverbeck Rymer is set to be acquired by software and outsourcing firm Quindell Portfolio in one of the first takeovers of a law firm under the U.K.’s Legal Services Act. The deal, which requires regulatory approval, will create a combined insurance claims outsourcing operation.Visit International News View full post on Law.com – Newswire

If the Supreme Court rules that pharmaceutical sales representatives are exempt from FLSA overtime requirements, it could knock out class action claims pending against a half-dozen drug companies. But Novartis apparently wasn’t willing to gamble that the justices would see things the drug companies’ way. View full post on Law.com – Newswire

Despite the efforts of his lawyers at Cravath, a former McKinsey & Co. partner couldn’t persuade a Manhattan judge that he deserved $40 million for his supposed stake in a health care fund associated with billionaire Bruce Kovner’s $10 billion hedge fund. View full post on Law.com – Newswire

NEW YORK – The federal bankruptcy judge presiding over the Chapter 11 proceeding of Lyondell Chemical Co. on Jan. 18 approved a settlement between Lyondell and creditor BASF Corp. in which Lyondell has agreed to pay BASF $ 180 million to settle its general unsecured claim (In Re: Lyondell Chemical Company, No. 09-10023, Chapter 11, [...]

The government’s case against Stryker Biotech and three of its executives was set to be a rare instance of an off-label marketing case going before a jury. But after only two days of trial, prosecutors reached a $15 million settlement with the company and dropped charges against the executives. View full post on Law.com – [...]

USA TODAY Romney offshore accounts contain up to $32 millionUSA TODAYHowever, it is legal for US residents to own investment accounts that are set up there — if they file the proper forms with the Internal Revenue Service and pay the appropriate taxes. "If you file the forms and report the income, you are 100 [...]

New York Times Romney's offshore accounts have up to $32 million; legal tax strategy could …Washington PostWASHINGTON — An Associated Press examination of financial records of Mitt Romney shows that the Republican presidential candidate has offshore-based investments worth between $7 million and $32 million. Offshore accounts are often used legitimately by …Romney offshore accounts contain [...]

WASHINGTON, D.C. – A U.S. appeals court on Jan. 17 vacated a district court’s confirmation of a $ 185,285,485.85 arbitration award issued by a foreign tribunal against the Republic of Argentina and in favor of an English distribution company, finding that the arbitration panel failed to adhere to a precondition in the agreement between parties [...]

A jury took less than five hours Wednesday to come back with a verdict finding TD Bank conspired with scammer Scott Rothstein, awarding $67 million to an investment group. Texas-based Coquina Investments sued TD Bank, saying the bank aided and abetted Rothstein in his $1.2 billion fraud. View full post on Law.com – Newswire