The colossal environmental disaster brewing in the Gulf of Mexico has eclipsed another tragic story related to April 20, 2010, BP oil rig explosion: the rig workers. The survivors and families of the 11 workers who were killed are now finding out that their recovery is limited by federal law […]
Bank of America Settles Countrywide Lawsuit
Countrywide Financial Corp., a mortgage lender acquired by Bank of America, has agreed to a $624 million settlement of a lawsuit which accused the lender of misleading investors about its lending practices. The class action lawsuit was led by several pension funds. In the lawsuit, the plaintiffs alleged that Countrywide […]
Supreme Court Hears Case Addressing Arbitrator’s Authority to Determine Unconscionability
On April 26, 2010, the United States Supreme Court heard oral arguments in a case addressing whether an arbitrator has authority to determine whether an arbitration clause is unenforceable due to unconscionability. The case, Rent-A-Center, West, Inc. v. Jackson, has far-reaching implications because it has been traditionally held that courts, […]
Supreme Court Deals Major Blow to Class Actions and Consumers
In an Opinion issued April 27, 2010, the United States Supreme Court held that arbitrators could not allow class arbitration where an arbitration clause is silent as to whether class arbitration is permitted. The decision in Stolt-Nielsen S.A. v. Animalfeeds Int’l Corp. is a significant blow to consumers and class […]
‘Tort Reform’ For BP Oil Spill Damage In Gulf Of Mexico?
After the Exxon Valdez oil spill created long-term ecological and economic damage to the Prince William Sound area of Alaska in 1989, the oil industry persuaded the U.S. Congress to give it a $75 million liability cap for damages for future oil spills. You can read an overview of this […]
NC Attorney General Reports on Top Consumers Complaints
The North Carolina Attorney General Roy Cooper recently revealed the number of consumer complaints filed with his office in 2009 and also identified the top 10 consumer complaints for the year. In 2009, 22,665 consumers filed complaints with the Consumer Protection Division of North Carolina Department of Justice. The largest […]
FDA slaps wrist of European Drug Company for illegally marketing Seroquel and paying off doctors
European Drug Company AstraZeneca had its wrist slapped this week by the Food and Drug Administration (‘FDA’). The FDA fined AstraZeneca for illegally promoting the anti-psychotic drug Seroquel and for illegally paying doctors to prescribe the drug. Seroquel has been the best-selling anti-psychotic drug on the market since it was […]
Bad Medical Care Causes Asphyxiated Newborns
A new study published in an international medical journal confirms that laboring mothers who receive sub-standard medical care are three times more likely to have babies who have suffered an inadequate supply of oxygen, a cause of brain injury. The study found that if there was sub-standard care during the […]
Federal Reserve Issues Proposed CARD Act Regulations
Late last week, the Federal Reserve Board issued its proposed regulations (to be codified as Regulation Z) governing the final sections of the CARD Act, which will go into effect August 22, 2010. Though the proposed regulations would significantly limit lenders’ imposition of penalty fees and would require periodic evaluation […]
‘Lawsuit Climate’ Survey Exposed As Corporate Propaganda
The U.S. Chamber of Commerce, the biggest lobby group in Washington and a trade group for corporations, releases its ‘lawsuit climate rankings’ every year. The Chamber’s rankings are not based on objectively verifiable information, but rather on the ‘impressions’ of corporate lawyers. There is no input from judges, injured people, […]