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Samuel Israel III was ordered by a judge to immediately begin serving a 20-year prison term. The former hedge-fund executive surrendered following more than three weeks on the run.
Judge Frederic Block, the federal judge presiding over the prosecution of two former Bear Stearns hedge-fund managers, has hardly any experience with securities-fraud trials but lawyers say he isn't afraid to challenge the government.
A federal judge has denied a request to force Google and YouTube unit to turn over the computer code at the heart of their search functions in a $1 billion copyright-infringement lawsuit by Viacom.
Lawyers for Google asked Viacom for permission to better hide information that might help identify YouTube users before Google complies with a judge's demand that it hand over YouTube "user logs" to Viacom.
Federal agents arrested two supervisors at Agriprocessors, the country's largest kosher meatpacking plant, on charges they helped illegal immigrants secure fake documents and encouraged them to reside in the U.S.
Ex-Refco Chief Executive Phillip Bennett was sentenced to 16 years in prison after he pleaded guilty to criminal charges in a scheme to hide the commodities broker's financial troubles.
A former New York City building department inspector pleaded not guilty to lying about examining a huge construction crane that collapsed days later, killing seven people.
Florida's supreme court overturned an agreement Gov. Charlie Crist signed with the Seminole Tribe to expand gambling at its casinos, saying the governor had no right to allow games that are illegal elsewhere in the state.
A judge declared a mistrial in the case of two lawyers charged with defrauding clients of $65 million in a diet-drug settlement after jurors failed to reach a verdict.
A few upstart law firms have come up with a business model that challenges the tight grip big firms hold on corporate business. This new breed of firms is landing blue-chip clients and, in the process, making money. Legal Beat
Following bad bets and big losses, A.R. Thane Ritchie has barred investors from leaving his hedge fund, Ritchie Capital Management, which is currently valued at $2 billion. One group of investors is suing to get their money back.
New York's efforts to get former Big Board Chairman Dick Grasso to return part of his $187.5 million pay package are over, the attorney general said. The decision followed another win for Grasso in state court. (Ruling)
For many summer associates, this holiday weekend will mark the halfway point of their foray into law-firm life. Not enough billables logged — yet — to litigate a case or negotiate a deal. But, certainly, six weeks is plenty of time for the sharp students lining the halls of the country's elite firms to glean [...]
William Gallion enters the Federal Courthouse in Covington, Ky., June 21, 2007. (Credit: AP/Ed Reinke)
This just in from Covington, Kentucky: After about six weeks of trial and 50 hours of jury deliberation, a mistrial was declared this afternoon in the trial of the two remaining Fen Phen defendants — Shirley Cunnigham and William Gallion. On [...]
Refco Inc.'s former CEO Phillip Bennett enters Manhattan federal court for his sentencing, Thursday, July 3, 2008. (Credit: AP/Louis Lanzano)
16 years. That was the sentence given to former Refco CEO Phillip Bennett. A Brit living in New Jersey, Bennett had previously pleaded guilty after being charged in a 20-count indictment, including conspiracy to commit securities [...]
Back in early March, we talked with some folks at Wachovia Wealth Management’s “legal specialty group” about the state of the market for law firms. They were optimistic.
But recently, we talked with them, and heard a different story. “We have the education … to admit when we’re wrong about things,” says Peter Haugh, managing [...]
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