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N.Y. probing equity firms, including Bain
U.S. Legal News |
2012/09/07 23:08
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New York's attorney general is investigating tax strategies of some of the nation's largest private equity firms, including Bain Capital, founded by Republican presidential nominee Mitt Romney, an official familiar with the probe said Sunday.
Attorney General Eric Schneiderman is examining whether the firms have abused a tax strategy to avoid paying hundreds of millions of dollars in taxes, said the official, who spoke on the condition of anonymity because of the sensitivity of the probe. The practice involves converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.
Some tax experts who spoke to The New York Times, which first reported the investigation Sunday, believed the strategy was potentially illegal, though other experts said it was commonplace and proper.
The Democratic attorney general sent subpoenas to more than a dozen firms, including Kohlberg Kravis Roberts & Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, according to the official. |
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Apple lists 8 Samsung products it wants banned
U.S. Legal News |
2012/08/29 19:05
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Apple Inc. on Monday gave a federal judge a list of eight Samsung Electronics Co. products it wants pulled from shelves and banned from the U.S. market, including popular Galaxy model smartphones.
U.S. District Judge Lucy Koh asked for the list after a jury in San Jose last week slammed Samsung with a $1.05 billion verdict, finding that the South Korean technology giant had "willfully" copied Apple's iPhone and iPad in creating and marketing the products. Samsung plans an appeal.
The products Apple wants out are all smartphones: Galaxy S 4G, Galaxy S2 AT&T, Galaxy S2, Galaxy S2 T-Mobile, Galaxy S2 Epic 4G, Galaxy S Showcase, Droid Charge and Galaxy Prevail.
Koh on June 26 banned the Galaxy Tab 10.1 from the U.S. market after finding it likely violated a "design patent." Samsung is now asking for that ban to be lifted after the jury found the computer tablet didn't infringe that particular patent, but it did find it infringed three Apple's software patents that cover the popular "bounce-back" and pinch-to-zoom features.
The judge has scheduled a Sept. 20 hearing to discuss Apple's demands for the sales bans. She asked Apple on Friday to submit the list of products its wants removed from U.S. stores after Samsung complained that it doesn't have enough time to prepare for the scheduled hearing. |
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Court overturns $1M award against U of M, Smith
U.S. Legal News |
2012/08/08 19:54
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The Minnesota Supreme Court has overturned a $1 million award against the University of Minnesota and men's basketball coach Tubby Smith over the hiring of an assistant coach.
Jimmy Williams quit his job as an assistant coach at Oklahoma State in 2007 because he believed Smith had hiring authority when he offered him an assistant coaching job. Minnesota later withdrew the offer because Williams had NCAA rules violations during a previous stint as an assistant for the Golden Gophers more than 20 years ago.
Williams sued, and a Hennepin County jury and the state appeals court sided with him. But the Minnesota Supreme Court on Wednesday reversed those decisions, saying Williams was not entitled to protection against negligent misrepresentations from Smith about his hiring authority. |
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Court spurns religious claim to name change
U.S. Legal News |
2012/08/05 00:05
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An appeals court has rejected a Kansas man's claim that the federal justice system's refusal to recognize his new Muslim name violates his constitutional religious rights.
The 10th U.S. Circuit Court of Appeals ruled Tuesday that Michael White failed to show it was unreasonable to deny his request to amend all records in his criminal case.
A lower court held that replacing the name Michael White with Abdul Hakeem Kareem Mujahid in all federal court records would create confusion.
Mujahid is serving 10 years at a prison in Colorado for killing another inmate at the U.S. Penitentiary in Leavenworth. A Kansas court granted his petition to change his name in December 2010. |
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Appeals court reinstates lawsuit against Glock
U.S. Legal News |
2012/07/27 18:52
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A California appeals court has reinstated a now-retired paralyzed Los Angeles police officer's product liability lawsuit against gun manufacturer Glock.
Enrique Chavez was paralyzed from the waist down when his 3-year-old son accidentally shot him with his service pistol.
The lawsuit claims the .45-caliber Glock 21 pistol lacks adequate safeguards against accidental discharge. There is no grip safety on the Glock.
A Los Angeles judge dismissed the suit two years ago, saying a Police Department review of the gun's design found the Glock's advantages outweighed any inherent risks.
The San Francisco Chronicle says the 2nd District Court of Appeals on Tuesday reinstated the suit, saying a jury could conclude that a grip safety strong enough to withstand a child's grasp would minimize the risk of accidental discharge. |
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Wis. town barred from beefing up farm water rules
U.S. Legal News |
2012/07/11 22:51
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The Wisconsin Supreme Court ruled Wednesday that a rural town lacksthe authority to impose tougher water-quality standards on a livestockfarm than the state requires.Magnolia, a community about 30 miles south of Madison, granted LarsonAcres Inc. a permit in 2007 when it wanted to expand, but included anumber of conditions because residents blamed it for polluting theirwater supply. The farm initially had 1,000 cows and now has about2,900.Among the conditions, the farm had to allow the town to conductmonthly water quality tests on its land, and it had to follow certaincrop-rotation strategies to reduce nitrate buildup.The farm sued, arguing that pollution-control measures are laid out bythe state and can't be modified by individual towns.The state Supreme Court agreed, ruling that the town exceeded itsauthority by imposing additional measures.The case has been watched by rural Midwest communities struggling todeal with the expansion of so-called factory farms. States throughoutthe farm belt have seen big farms get bigger as the agricultureindustry continues to consolidate.Similar cases have been filed in six other Midwestern states, butWisconsin's is believed to be the first to reach a state supremecourt. |
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