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Saturday, February 6, 2010

Articles of Freedom | The Works of Continental Congress 2009

Articles of Freedom | The Works of Continental Congress 2009

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Articles of Freedom | The Works of Continental Congress 2009

Articles of Freedom | The Works of Continental Congress 2009

Posted using ShareThis

Articles of Freedom | The Works of Continental Congress 2009

Articles of Freedom | The Works of Continental Congress 2009

Posted using ShareThis

JURIST - Paper Chase: DOJ urges additional revisions to Google book search settlement

JURIST - Paper Chase: DOJ urges additional revisions to Google book search settlementSerious law. Primary sources. Global perspective.

Friday, February 05, 2010


DOJ urges additional revisions to Google book search settlement
Daniel Makosky at 8:36 AM ET



[JURIST] The US Department of Justice (DOJ) [official website] filed a statement of interest [text, PDF; press release] Thursday urging the US District Court for the Southern District of New York [official website] to reject the amended class action settlement [Authors Guild backgrounder] in a copyright suit [case materials] over Google's book-scanning initiative [Google Books website]. In its statement, which notes “substantial progress” toward resolving issues raised [JURIST report] in September, the DOJ cites lingering copyright and antitrust concerns in the proposed settlement. The DOJ also stated that the agreement would provide Google with "anticompetitive advantages" with potentially monopolistic effects. The Open Book Alliance [advocacy website], a group composed of some of Google's main competitors and several writers' associations, praised [press release] the DOJ's filing and said the current version of the agreement is "overreaching." The settlement is expected to be reviewed by Judge Denny Chin on February 18.

The case originated when two lawsuits were brought against Google by the Authors Guild [advocacy website], a group seeking to preserve copyright protection for authors, and by other plaintiffs including the Association of American Publishers (AAP) [organization website], McGraw-Hill, Penguin Group, and Simon & Schuster [corporate websites]. Under the terms of the original settlement agreement, which was reached [JURIST report] in October 2008, Google would pay $125 million to authors and publishers of copyrighted works. In return, Google would be allowed to display online up to 20 percent of the total pages of a copyrighted book, and would offer users an opportunity to purchase the remainder of any viewed book. In a separate case, a French court ruled [JURIST report] in December that Google violated French copyright law through its book-scanning initiative.



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Friday, February 5, 2010

JURIST - Paper Chase: New York AG sues Bank of America for misleading shareholders

JURIST - Paper Chase: New York AG sues Bank of America for misleading shareh Get Free Shots
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7:56 AM Friday, Feb. 5, 2010



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Thursday, February 04, 2010

New York AG sues Bank of America for misleading shareholders
Zach Zagger at 2:18 PM ET

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[JURIST] The New York Office of the Attorney General [official website] on Wednesday filed civil charges [complaint] against Bank of America (BOA) [corporate website], former CEO Ken Lewis, and former CFO Joseph Price, alleging that the bank mislead investors in order to acquire financial firm Merrill Lynch [corporate website]. The complaint alleges that Merrill Lynch had significant losses in the months leading up to a shareholder vote on the merger and that Lewis and Price violated the New York Martin Act [WLF backgrounder, PDF] because they knew of the losses but failed to disclose them to shareholders before the vote. The complaint criticized BOA and its executives, stating:

This merger has, in many ways, become a classic example of how the modus operandi of our nation's largest financial institutions led to the near collapse of our financial system. ... Ultimately, this was an enormous fraud on taxpayers who ended up paying billions for BOA's misdeeds. Throughout this episode, the conduct of Bank of America, through its top management, was motivated by self-interest, greed, hubris, and a palpable sense that the normal rules of fair play did not apply to them. Bank of America's management thought of itself as too big to play by the rules and, just as disturbingly, too big to tell the truth.

New York Attorney General Andrew Cuomo [JURIST news archive] further criticized [press release] the firm saying the merger was an example of the type of behavior that nearly destroyed the US financial system.

The lawsuit comes less than a month after the US Securities and Exchange Commission (SEC) [official website] filed federal charges [JURIST report] against BOA related to the undislosed losses. Also in January, US President Barack Obama proposed new banking rules [JURIST report] that he claimed would stabilize the banking system and reduce the risk of future bank failures. In September, a judge for the US District Court for the Southern District of New York [official website] rejected [JURIST] a $33 million settlement agreement between the SEC and BOA over misleading investors regarding billions of dollars paid to Merrill Lynch executives during the merger.



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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.

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© JURIST Legal News and Research Services, Inc., 2008. JURIST is a 501(c)(3) non-profit organization. E-mail inquiries, changes, news tips, URLs, corrections, etc. to JURIST@pitt.edu. This site is not an official site of the University of Pittsburgh. The University of Pittsburgh is not responsible for its content. Nothing on this site is intended as legal advice. If you have a legal problem, please consult an attorney. JURIST news tickers powered by Yahoo! News.

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