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U.S. Supreme Court voids overall contribution limits
Headline News |
2014/04/03 23:29
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The Supreme Court struck down limits today in federal law on the overall campaign contributions the biggest individual donors may make to candidates, political parties and political action committees.
The justices said in a 5-4 vote that Americans have a right to give the legal maximum to candidates for Congress and president, as well as to parties and PACs, without worrying that they will violate the law when they bump up against a limit on all contributions, set at $123,200 for 2013 and 2014. That includes a separate $48,600 cap on contributions to candidates.
But their decision does not undermine limits on individual contributions to candidates for president or Congress, now $2,600 an election.
Chief Justice John Roberts announced the decision, which split the court's liberal and conservative justices. Roberts said the aggregate limits do not act to prevent corruption, the rationale the court has upheld as justifying contribution limits.
The overall limits "intrude without justification on a citizen's ability to exercise 'the most fundamental First Amendment activities,'" Roberts said, quoting from the court's seminal 1976 campaign finance ruling in Buckley v. Valeo.
Justice Clarence Thomas agreed with the outcome of the case, but wrote separately to say that he would have gone further and wiped away all contribution limits. |
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Michigan won't recognize same-sex marriages
Headline News |
2014/03/28 19:43
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Michigan won't recognize more than 300 same-sex marriages performed last weekend before a court halted a decision that opened the door to gay nuptials, Gov. Rick Snyder said Wednesday.
The announcement came a day after an appeals court indefinitely stopped any additional same-sex marriages. It will likely take months for the court to make its own judgment about whether a Michigan constitutional amendment that says marriage only is between a man and a woman violates the U.S. Constitution.
U.S. District Judge Bernard Friedman struck down the gay marriage ban Friday.
Four counties took the extraordinary step of granting licenses Saturday before the 6th U.S. Circuit Court of Appeals ordered a temporary halt. The stay was extended indefinitely on Tuesday.
Snyder acknowledged same-sex couples "had a legal marriage." But because of the court's stay, he added, the gay marriage ban has been restored.
The governor's move closes the door, at least for now, to certain benefits reserved solely for married couples. The American Civil Liberties Union said more than 1,000 Michigan laws are tied to marriage.
"We did our own homework and I believe this is a reasonable legal position to take based on the available literature and law," Snyder told reporters.
Other elected officials have urged the Obama administration to recognize the marriages for federal benefits. The U.S. Justice Department, which previously said it was monitoring the situation, did not immediately comment after Snyder's announcement.
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Court weighs securities fraud class-action cases
Headline News |
2014/03/05 23:03
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The Supreme Court is considering whether to abandon a quarter-century of precedent and make it tougher for investors to band together to sue corporations for securities fraud.
The justices hear arguments Wednesday in an appeal by Halliburton Co. that seeks to block a class-action lawsuit claiming the energy services company inflated its stock price.
A group of investors says it lost money when Halliburton's stock price dropped after revelations the company misrepresented revenues, understated its liability in asbestos litigation and overstated the benefits of a merger.
Justices threw out the company's first attempt to block the lawsuit in 2011. But Halliburton is now urging the court to overturn a 25-year-old decision that sparked a tidal wave of securities-related, class-action lawsuits against publicly traded companies and has led to billions in settlements.
The court's 1988 decision in Basic v. Levinson says shareholders who claim they were defrauded by false statements in securities filings don't have to prove they actually relied on the statements. Rather, the court reasoned that any misrepresentation would be reflected in the current stock price. Even if investors are not aware of the misstatements, they are presumed to be aware of them because they affect the stock price.
This presumption, known as the "fraud-on-the-market theory," has become the driving force for modern class-action securities cases. But some economists have questioned whether this theory makes sense anymore, saying it doesn't account for the sometimes random and arbitrary nature of stock trading. |
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Court: Spain can extradite Liberty Reserve founder
Headline News |
2014/02/24 23:49
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A Spanish court has ruled that a man accused of being behind one of the world’s biggest money laundering businesses can be extradited to the U.S. to face charges there.
Arthur Budovsky, who founded currency transfer and payment processing company Liberty Reserves, can appeal the ruling, the National Court said late Friday. Spain’s government must also approve the decision for an extradition to happen.
It wasn’t immediately clear if Budovsky would appeal. The 40-year-old Costa Rican, who was arrested at Madrid airport in May 2013, has acknowledged founding Liberty Reserve in 2006, but says he sold his share to stay on only as a consultant.
U.S. officials accuse Budovsky of using Liberty Reserve as a kind of underworld bank which handled about $6 billion worth of illicit transactions. |
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Vietnamese court rejects appeals by dissident
Headline News |
2014/02/18 23:31
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A Vietnamese appeals court on Tuesday upheld the conviction and 30-month prison sentence against a U.S.-trained lawyer and well-known dissident found guilty of tax evasion in a case that international rights groups say was politically motivated.
The court in Hanoi rejected Le Quoc Quan’s appeal after a half-day trial on Tuesday. His lawyer Ha Huy Son quoted judges as saying they found no new evidence, and that the conviction by the intermediate court was well founded.
The lawyer said Quan maintained his innocence throughout the trial.
‘‘I told the court that the case should not be criminalized, but should be resolved through administrative procedures instead.’’ Son said in a telephone interview. ‘‘But the court rejected my arguments.’’
Quan was sentenced to 30 months in jail in October.
About 100 people gathered near the courthouse demanding Quan’s release, and police sealed off the area. |
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SC lawyer pleads guilty to defrauding clients
Headline News |
2014/02/10 23:11
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A Florence attorney has pleaded guilty to defrauding his clients. U.S. Attorney Bill Nettles said Friday that 48-year-old William J. Rivers pleaded guilty to mail fraud.
Authorities began investigating after some of Rivers' clients complained to the South Carolina Bar Association. Between 2006 and 2012, prosecutors say more than 100 of his firms' clients were defrauded of more than $3.3 million.
Authorities say Rivers settled personal injury cases but didn't tell his clients or medical providers about the settlement money, which he kept. Prosecutors say that action left Rivers' clients still owing money for treatments they had received.
Prosecutors say Rivers' law partner committed suicide during the investigation. Rivers faces up to 20 years in prison and a fine of $250,000 when he's sentenced. |
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