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Shelton's attorney planned an appeal.
Lawyer Blog News | 2007/04/14 20:48

Prosecutors in Louisiana are investigating Shelton in connection with the death of Justin James, 19, in October 2005. Coroner's officials ruled his death a homicide, saying he died of an overdose of cocaine, Xanax and morphine. Shelton was the last person with James.

Shelton's career at Manhattan Beach ended in 2003 after he accused former Chief Ernest Klevesahl and other officers of harassing him because he was gay. He later was arrested on drug prescription forgery charges in Long Beach and for trespassing with an 18-year-old man on a ranch in Moorpark.



State Trooper Guilty Of On Duty Rape
Criminal Law Updates | 2007/04/14 20:46

BOSTON, MASS - A veteran Massachusetts state trooper has been found guilty of three counts of raping a woman while on duty last year.

Daniel Grant, 42, of Holbrook, a married 17-year veteran of the state police had been accused of threatening to plant drugs on a 26-year-old woman unless she complied with his demands for sex in an incident which occurred Jan. 20, 2006.

Prosecutors said that while on duty, Grant approached a car which was parked behind a hotel and occupied by a 26-year-old woman and a man. After running a computer check on the car's license plate, he determined that there was an outstanding warrant for the man's arrest.

Prosecutors said that Grant allegedly offered the man money and told him to leave. He then told the woman that he had done her a favor because the man was "bad" and suggested that she should repay him with sexual favors. He allegedly showed her cocaine and said that if she didn't do what he wanted, she would be arrested for drug possession and would be sent to prison. Prosecutors said he then allegedly took her to a nearby building where be sexually assaulted her.



Federal Court dismisses Vioxx lawsuit against Merck
Class Action News | 2007/04/14 03:15

A New Jersey federal judge dismissed a class action brought by investors of Merck & Co. Thursday, ruling that the suit was filed after the statute of limitations had run. The investors had said that Merck had deliberately concealed information from them about the safety record of its arthritis drug Vioxx. US District Court Judge Stanley Chester determined that the clock on the two-year statute of limitations started to run in September 2001 with the release of a warning letter from the Food and Drug Administration, coupled with subsequent attention from financial analysts and members of the press. The first fraud complaint against the company was filed in November of 2003. Since the lawsuit was dismissed with prejudice, it may not be filed again.

Merck pulled Vioxx from the market in September 2004 after a study showed that it could double the risk of heart attack or stroke if taken for more than 18 months. The price of Merck stock jumped by almost 10% following news of the class action dismissal.



Judge Approves CA Ex-CEO's $800M Restitution
Lawyer Blog News | 2007/04/14 03:14

Former Computer Associates (CA) CEO Sanjay Kumar will pay almost $800 million in restitution over his lifetime for his role in the accounting fraud in which CA swapped revenues of $2.2 billion with another company in 1999 and 2000, according to a settlement approved Friday in the US District Court for the Eastern District of New York. Kumar, who pleaded guilty to charges of securities fraud and obstruction of justice in April 2006 and was sentenced to a 12-year prison sentence and an $8 million fine in November 2006, is required to sell personal property to pay $52 million of the total restitution amount by the end of 2008. Although the agreement does not mandate the liquidation of his family's home, it does require Kumar to turn over 20 percent of his annual income for the rest of his life.

Kumar, who has not served any prison time yet, also faces a lawsuit filed by CA seeking repayment of $14.9 million it fronted for Kumar's legal defense. The settlement comprises part of the over $1 billion in restitution due to victims of the CA revenue-swapping scheme.



Shearman & Sterling Represent Citigroup Inc.
Law Firm News | 2007/04/13 23:05





Shearman & Sterling represented Citigroup Inc. in its acquisition of Old Lane LP and Old Lane Partners, GP, LLC ("Old Lane"), a global, multi-strategy hedge fund and a private equity fund with total assets under management and private equity commitments of approximately $4.5 billion.  Under the terms of the acquisition agreement, Old Lane will operate as part of Citi Alternative Investments, and Vikram Pandit, co-founder of Old Lane, will become CEO of the unit.  The transaction, which is subject to customary regulatory reviews, is expected to close in the third quarter of this year.  The value of the transaction is confidential.


The Shearman & Sterling attorneys advising Citigroup included partners Creighton Condon (New York – Mergers & Acquisitions), Eliza Swann (New York – Mergers & Acquisitions), Linda Rappaport (New York – Executive Compensation and Employee Benefits), Peter Blessing (New York – International Tax), Azam Aziz (New York – Asset Management) and Barney Reynolds (London- European Finance), counsel Ansgar Simon (New York – Tax), Ann Woo (San Francisco – Mergers & Acquisitions), associates Sara Haskamp (New York – Mergers & Acquisitions), Stephen Penner (New York – Asset Management), Adam Kaminsky (New York – Executive Compensation and Employee Benefits), Garrett Dowd (New York –Executive Compensation and Employee Benefits), Nicola Espie (New York - Asset Management), Gwen Gordon (New York-Asset Management) and Thomas Donegan (London-European Finance).



Cravath Wins Dismissal in Merck Class Action
Law Firm News | 2007/04/13 21:09

On April 12, the United States District Court in New Jersey granted the Merck & Co.'s motion to dismiss with prejudice a consolidated securities class action filed by investors against Merck in connection with disclosures by Merck regarding VIOXX. In his ruling, Judge Stanley R. Chesler found that the securities action should be dismissed because all of the plaintiffs' claims were time-barred under the applicable statutes of limitations. Cravath is lead counsel for Merck in the securities action. The Cravath team was led by partners Robert H. Baron, Evan R. Chesler and David Greenwald and associate Karen R. King.

www.cravath.com



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