|
|
|
EMC Faces Class-Action Lawsuit
Class Action News |
2007/09/13 11:59
|
EMC Corp. could face a sexual discrimination class action lawsuit, if a judge opens an existing case up to other female EMC workers, the Wall Street Journal reported Wednesday.
Two women filed a lawsuit against the IT giant in 2004, alleging discrimination and harassment. On Monday, a judge for the U.S. District Court in Northern Illinois will hear arguments about whether to allow other women who worked in sales at EMC from 2001 to 2004 to join the suit, according to the Journal. In a letter posted to EMC's Web site, Joe Tucci, the company's chairman, president and CEO strongly denied that discrimination or harassment happened or continue to occur at the company. "EMC has long been committed to maintaining a workplace free of discrimination and harassment, with significant opportunities for every employee to succeed and grow," he wrote. He said that during the four years covered by the case, women sales reps at the company in the U.S. earned, on average, more than their male counterparts. Since 2001, the number of women at the vice president and senior vice president levels has more than doubled and the number of women at the director level has nearly tripled, he wrote. However, the suit filed by former sales representatives Tami Remien and Debra Fletcher paints a very different picture. At the time they filed the suit, they said just one of EMC's most senior executives was a woman and that the Chicago sales office of 30 had at most six women. Remien's managers, according to the suit, denied her the engineering and managerial support that her male counterparts received, took accounts that she had begun selling products to and gave them to less successful male sales people, and was told that she couldn't take on certain accounts because she didn't tolerate strip clubs, hunt, fish, drink or smoke. She claims that when she complained to human resources, her managers retaliated by taking away essentially all of her accounts and continued to deny her support. She also claims that her boss often shouted gender-based obscenities at her and called her stupid. Fletcher had similar experiences under the same manager. She also once made a large sale but her commission was given to a male co-worker because he had a family, according to the suit. One account was taken away from her after she was falsely accused of having a sexual relationship with the client, the suit claims. Both women were let go from their jobs at EMC after being left with no accounts or with accounts that didn't generate revenue. |
|
|
|
|
|
Top N.J. Court Reverses Abortion Ruling
Court Feed News |
2007/09/13 09:53
|
A doctor has no duty to tell a woman considering an abortion that her embryo is an "existing human being," a unanimous New Jersey Supreme Court ruled Wednesday, averting a trial over when human life begins. The decision, citing past rulings, said the court "will not place a duty on doctors when there is no consensus in the medical community or among the public" on when life begins. The 5-0 Supreme Court ruling reversed a unanimous ruling by a three-judge appeals panel and dismissed the lawsuit of a woman who had an abortion. Abortion cases pending in Illinois and South Dakota have raised the same issue. "On the profound issue of when life begins, this court cannot drive public policy in one particular direction by the engine of the common law when the opposing sides, which represent so many of our citizens, are arrayed along a deep societal and philosophical divide," New Jersey Justice Barry T. Albin wrote for the court. The ruling came in a lawsuit filed by a woman who accused a doctor of failing to give her enough information before she signed a consent form for him to perform an abortion. Rose Acuna questioned whether Dr. Sheldon C. Turkish misled her in 1996 about the development of the pregnancy, then in the sixth or seventh week. She was 29 at the time and had two daughters following a miscarriage when she consulted Turkish, who had delivered her second child. "According to Acuna, Turkish told her that she 'needed an abortion because (y)our kidneys are messing you up,'" court papers said. "Acuna asked Turkish whether 'the baby was already there.' According to Acuna, Turkish replied, 'Don't be stupid, it's only blood.'" Acuna signed a consent form, and Turkish did the abortion. Bleeding continued, however, and seven weeks later Acuna went to a hospital. She was diagnosed with an incomplete abortion and had another procedure. "According to her, one of the nurses caring for her explained that the procedure was necessary because Turkish 'had left parts of the baby inside of (her).' Thus, Acuna concluded based on the reference to 'the baby' that she had given consent to an abortion based on erroneous information," the appellate panel wrote last year. Acuna, now 40, says she suffered emotional distress for the death of an unborn child. Acuna's lawyer, Harold J. Cassidy, said he was considering an appeal to the U.S. Supreme Court. "Millions of women across the nation have made the same complaint as Mrs. Acuna," said Cassidy, an anti-abortion lawyer based in Monmouth County who is also involved in the South Dakota case. "They have lost something of great value, which is dismissed as mere tissue," added Cassidy, who is also known for successfully arguing against surrogate parenting contracts in the 1987 "Baby M" case. The doctor's lawyer, John Zen Jackson, said "the court properly recognized there are limits to a physician's duty in obtaining a patient's consent." In South Dakota, Planned Parenthood is challenging a 2005 law that requires abortion doctors to tell women several things, including that an abortion ends human life. It has never been enforced, however, having been put on hold by a federal judge. The lawsuit challenging its constitutionality is pending. The American Civil Liberties Union said a class-action medical malpractice lawsuit with similar claims as those raised by Acuna was recently brought in Illinois. Marie Tasy, executive director of the anti-abortion group New Jersey Right to Life, decried the ruling. "My reaction is that once again the court relies on an outdated schizophrenic mentality to the detriment of women and indulges in semantic gymnastics to avoid the indisputable fact that a child in the womb is a human being," she said. The ACLU praised the decision, saying it "sends a message that New Jersey will not tolerate backdoor efforts to curtail reproductive rights or free speech," said Ed Barocas, legal director of the state's ACLU chapter. |
|
|
|
|
|
How to Share Wealth Without the IRS Getting It All
Attorney Blogs |
2007/09/13 08:57
|
Whenever something of value changes hands, the Internal Revenue Service is usually going to want its cut.
But if you plan ahead and employ tax-smart strategies, you can make sure more of your wealth goes to your nephew Steve than to Uncle Sam.
Although many people would rather share their wealth with family while they're alive, the IRS often makes this a tall task -- but not impossible. The Gift of Gifting The easiest way to share your wealth, of course, is by simply giving money or assets away. There is a limit, however, to how much you can give before the IRS starts taking its cut. And the tax consequences can turn a gift into a burden -- just ask the Oprah audience members who discovered they owed thousands to the IRS after the generous host gave them all cars in 2004. This year, the inflation-adjusted annual gift tax exclusion is $12,000 per donee (there is no limit if the recipient is a spouse and a U.S. citizen). That means you can give as much as $12,000 to any individual each year without incurring taxes, and there is no limit to the number of beneficiaries. So you can give to as many people as you want, as long as each one doesn't receive more than the annual limit. In addition to benefiting your loved ones, the added advantaged to gifting is that it also reduces your taxable estate, and thus the estate tax burden on your heirs. The gift tax rules, however, don't apply only to cash, but to assets such as property and equities. And in some cases this may be even more advantageous than giving away just cash. Because of inflation, cash depreciates in value over time, while stocks have the ability to increase in value. Even if you give away a stock that appreciates, for tax purposes it will be taxed on its market value as of the day of transfer.
A Trustworthy Strategy Another effective way to share your wealth while limiting your tax exposure is with a grantor retained annuity trust. A GRAT is an irrevocable trust set for a specific amount of time, during which you receive a set annual payment. At the end of the trust's term, the length of which you set, the assets in the trust are passed along to your heirs. For example, you can create a GRAT and fund it with $500,000 that generates an annual cash flow of $50,000. Under the terms of the GRAT, you receive that annual annuity for 10 years. At the end of the term, the remainder, including any appreciation, is passed along to your beneficiary. However, once established, you can't add to the trust during its term. Another trust useful for transferring wealth is an irrevocable life insurance trust, or ILIT. This is a trust that takes ownership of your life insurance policy and, like the GRAT, removes it from your taxable estate. On the other hand, if, for example, you have a life insurance policy that pays out $5 million and it is included in your estate, your heirs will be burdened with a hefty estate tax bill. With a GRAT, you can not only give to your loved ones, but you can dictate the terms under which they are entitled to receive benefits. This means that if you are concerned one of your heirs is not responsible enough to handle their whole inheritance at once, you can have the trust distribute a predetermined amount of the proceeds over a specified period of time. But it's important to remember that the terms and conditions of any irrevocable trust cannot be changed once it has been created. To learn more about choosing a life insurance provider see "How to Measure Your Life Insurer's Health."
529 and Feeling Fine While the IRS may seem to be the bane of your financial existence, it can be of some help too. One such example is with section 529 of the Internal Revenue Code, better known as a 529 plan or qualified tuition plan. These tax-advantaged savings plans allow you to sock away money to help pay for future college costs. While contributions to the plan are not deductible on your federal tax return, the investment grows tax-deferred and distributions to pay for the beneficiary's college costs are free of federal taxes. You can make withdrawals from the plan, however, the funds must be used for eligible expenses, such as tuition, books and housing. If they are not, you will be subject to income tax plus a 10% federal tax penalty. Each state, and Washington, D.C., offers its own 529 plan with various investments, though you don't have to live in the state whose plan you use. You can contribute as much as $12,000 each year to the 529 plan ($24,000 for married couples), and under a special five-year averaging election, you can contribute as much $60,000 in a lump sum ($120,000 for married couples). |
|
|
|
|
|
Tarragon faces class action suit
Class Action News |
2007/09/13 02:00
|
A San Diego law firm said it filed a class action lawsuit Tuesday against Tarragon Corp. in the U.S. District Court for the Southern District of New York on behalf of purchasers of Tarragon's common stock between January 5, 2005, and Aug. 9, 2007. Coughlin Stoia Geller Rudman & Robbins LLP alleges Tarragon and certain of its officers and directors issued materially false and misleading statements regarding the company's business and financial results. A Tarragon spokesman said it's the company's policy not to comment on pending litigation. The complaint claims Tarragon stock traded at artificially inflated prices, reaching a high of $26.76 a share on July 22, 2005, as a result of defendants' false statements. The stock then fell, reaching 94 cents a share on Aug. 9, when Tarragon said its quarterly report would be delayed to give the company time to evaluate more than $125 million in property impairment charges and other write-downs made necessary by its decision to sell properties under adverse market conditions. Tarragon and its subsidiaries are active in the Northeast, Florida, Texas and Tennessee. Fort Lauderdale-based subsidiary Tarragon South is the developer of Las Olas River House, a high-rise in downtown Fort Lauderdale that was completed last year, but still has at least 22 units up for sale; and a planned mixed-use project with a condo tower on the site of the Gay & Lesbian Community Center on Andrews Avenue in Fort Lauderdale. Tarragon is also an equity partner with Coscan Homes in Orchid Grove, a condo and townhouse community under construction in Pompano Beach. |
|
|
|
|
|
Judge rejects bonus for NWA law firm
Court Feed News |
2007/09/12 14:09
|
A bankruptcy court judge on Tuesday approved $124.2 million in fees and expenses for the lawyers and advisers who helped Northwest Airlines Corp. through Chapter 11 bankruptcy. But he held off on awarding another $4.2 million in possible bonuses. U.S. Bankruptcy Judge Allan Gropper, who presided over the Eagan-based carrier's bankruptcy case, denied a petition for a $3.5 million bonus for Northwest's lead law firm, Cadwalader, Wickersham & Taft and a $700,000 bonus for creditor law firm Otterbourg, Steindler, Houston & Rosen, according to the Associated Press. To be eligible for those payments, their work should have produced a "remarkable result" that wouldn't have been the result of ordinary performance. The Association of Flight Attendants, the U.S. trustee on the case and a former creditor had opposed the bonuses. Cadwalader earned $35.4 million in fees and $2.2 million in expenses. Otterrbourg earned $7 million in fees and $210,231 in expenses. They were among 24 law firms and advisers that were part of Northwest's bankruptcy team. The group included Minneapolis-based Dorsey & Whitney, which had applied for final fees of $3.2 million and expenses of $171,753, according to legal filings.
|
|
|
|
|
|
Craig files papers in attempt to reverse guilty plea
Lawyer Blog News |
2007/09/12 14:08
|
Sen. Larry Craig has filed papers to withdraw his guilty plea in an airport sex sting, arguing that he entered the plea under stress caused by media inquiries into his sexuality. But a spokesman for the agency that operates the airport said Craig's plea has been entered and accepted - and, in his words, "From our standpoint, this is already a done deal." The Republican Idaho Senator pleaded guilty in August to disorderly conduct following a sting operation in a men's bathroom at the Minneapolis airport. He said he regrets that decision and made it hastily and without talking to an attorney. He says he was under stress and pleaded guilty only to put the matter behind him. Attorney William Martin specifically cited "tremendous pressure" from journalists as the reason for the guilty plea. Martin said he's arguing that his client was under extreme stress from reporters hounding him about his sexuality. Martin mentioned The Idaho Statesman by name, the Boise newspaper that spent months investigating whether Craig engaged in homosexual encounters. Craig has flatly denied those suggestions on numerous occasions. In his first address to the public after the political journal Roll Call broke the story of the Minneapolis sting, Craig accused the newspaper of conducting a "witch hunt." His chief spokesman said that Craig has dropped virtually all notions of trying to finish his third term in the Senate, but the Senator has shown signs of wavering on his announced plan to resign from the Senate at the end of September. The documents filed Monday aim at undoing Craig's earlier decision to plead guilty to the lewd conduct charges in order to give him a chance to fight the accusations. According to court documents, the senator "felt compelled to grasp the lifeline" - hoping that if he were to submit to an interview and plead guilty that none of the allegations would be made public.
|
|
|
|
|
Recent Lawyer News Updates |
|
|