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Court says farmers must pay bankruptcy tax
Corporate Governance |
2012/05/14 21:30
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The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm.
The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm in Willcox, Ariz.
The Halls were forced to sell their family farm for $960,000 to settle their bankruptcy debts. That sale brought about capital gains taxes of $26,000.The Halls wanted the taxes treated as part of the bankruptcy, paying part of it and having the court discharge the rest.
The IRS objected to that plan, saying all of the taxes must be paid and the 9th U.S. Circuit Court of Appeals in San Francisco agreed with the tax agency.
The high court agreed with that decision.
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Court turns away PR congressional vote lawsuit
Class Action |
2012/05/14 21:30
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The Supreme Court won't hear an appeal from residents of Puerto Rico seeking to gain a voting representative in Congress.
The high court turned away the appeal from Gregorio Igartua and other Puerto Ricans on Monday.
Territorial status grants residents of Puerto Rico U.S. citizenship, but they pay no federal income taxes and cannot vote in presidential elections. Their congressional representative also cannot vote in Congress.
A federal judge threw out the lawsuit, and the 1st U.S. Circuit Court of Appeals upheld that decision, saying that since Puerto Rico was not a state, it could not have a voting member of Congress.
The high court refused to hear the appeal.
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Alaska conspiracy trial scheduled in federal court
Court Watch |
2012/05/08 11:17
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Three Alaska men are scheduled to go on trial Monday in Anchorage on charges of plotting to kill government employees.
Fairbanks militia leader Schaeffer Cox of Fairbanks, Coleman Barney of North Pole and Lonnie Vernon of Salcha were arrested 14 months ago and also face weapons charges.
The Fairbanks Daily News-Miner reports the arrests followed an FBI investigation of Cox that began in 2010.
Cox has described himself as a sovereign citizen.
The FBI classifies the sovereign citizen movement as domestic terrorism movement known for clogging the court system with fraudulent liens and lawsuits.
Cox ran for state House in the Republican primary in 2008. In 2009 he started a gun rights organization, the Second Amendment Taskforce, which staged large rallies in Fairbanks.
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Glancy Binkow & Goldberg LLP Announces Class Action
Class Action |
2012/05/08 11:17
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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired the common stock of Groupon, Inc. pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with Groupon’s November 4, 2011 initial public offering, including purchasers of Groupon common stock between February 8, 2012 and March 30, 2012.
Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Groupon common stock pursuant or traceable to the Company’s November 4, 2011 initial public offering, and/or during the Class Period described above, you have certain rights, and have until June 4, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
www.glancylaw.com
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NY court upholds firing of hedge fund officer
Breaking Legal News |
2012/05/08 11:17
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New York's top court has upheld the firing of a hedge fund compliance officer who says he confronted its chief executive about improperly selling personal stock before doing the same for clients.
The Court of Appeals ruled 5-2 in rejecting Joseph Sullivan's damages claim against Peconic Partners, Peconic Asset Management and fund President William Harnisch.
The majority says New York common law generally gives an employer the "unimpaired" right to fire an at-will employee, with a few exceptions. It says there is no exception for wrongful discharge of a hedge fund's compliance officer.
Dissenters say the court should expand an exception it has carved out for lawyers who get fired for insisting on professional ethics. They say the majority ruling "facilitates the perpetuation of frauds." |
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Court to decide if deportation ruling retroactive
Law Center |
2012/04/30 09:04
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The Supreme Court will decide whether to apply retroactively its 2010 decision that immigrants have a right to be told that a guilty plea could lead to their deportation.
The high court on Monday agreed to hear an appeal from Roselva Chaidez, who was in the process of being deported when the court made that March 2010 decision.
Chaidez pleaded guilty to fraud in 2004 after falsely claiming to be a passenger in a car wreck. Authorities started deportation procedures while she was applying for U.S. citizenship in 2007.
Her lawyer never told her that her fraud conviction may lead to her deportation. Chaidez says she should be able to take advantage of the Supreme Court decision that cemented that principle.
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Chinese court seeking to mediate iPad dispute
Court Watch |
2012/04/29 09:04
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A Chinese court is mediating between Apple Inc. and the Chinese company challenging its right to use the iPad trademark, seeking to get the companies to settle an awkward standoff over the issue.
The Guangdong High Court in southern China, is seeking to arrange a settlement, said Ma Dongxiao, a lawyer for Proview Electronics Co. The court on Feb. 29 began hearing Apple's appeal of lower court ruling that favored Proview in the trademark dispute.
"It is likely that we will settle out of court. The Guangdong High Court is helping to arrange it and the court also expects to do so," Ma said Monday.
China has sought to showcase its determination to protect trademarks and other intellectual property, but with hundreds of thousands employed in the assembly of Apple's iPhones and iPads is unlikely to want to disrupt the company's production and marketing in China.
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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