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China Ministry Statements Excluded From Cartel Trial Against Chinese Manufacturers

NEW YORK - Written statements of the Ministry of Commerce of the People's Republic of China, although relevant to the defenses of Chinese corporations accused of participating in an illegal cartel to fix prices and limit supply for exports of vitamin ...read more

Antitrust Settlement With Chinese Vitamin C Maker Gains Final Approval

NEW YORK - A federal judge in New York on Oct. 23 granted final approval to a $10.5 million settlement between direct and indirect purchasers and Aland (Jiangsu) Nutraceutical Co. Ltd., a Chinese manufacturer of vitamin C, on claims that the manufacturer ...read more

Mealey's Emerging Securities Litigation: Approval Sought for $80 Million Settlement in Madoff Feeder Fund Suit

NEW YORK - Investors on Tuesday asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were part of Bernard ...read more

Couple Can Pursue Illegal Foreclosure Claim Due To Irregularity, Judge Rules

DETROIT - A federal judge in Michigan on Nov. 15 dismissed a majority of a couple's lawsuit against their mortgage lender, loan servicer and an insurance company but held that they could pursue claims of illegal foreclosure under Michigan law because ...read more

Standard Chartered To Pay $327M To Settle Money Laundering Claims

WASHINGTON, D.C. - Standard Chartered Bank (SCB) has agreed to the forfeiture of $227 million to the U.S. Department of Justice and to pay a $100 million penalty to the Federal Reserve Board for violating the International Emergency Economic Powers Act ...read more

Bank Of America Wins Summary Judgment In Account-Freezing Suit

SAN DIEGO - A federal magistrate judge on Dec. 14 dismissed a putative class action in which consumers alleged that Bank of America N.A. (BoA) violated state law and a deposit agreement by freezing accounts after receiving notices of out-of-state judgments ...read more

Borders Trustee Files 92nd Complaint Seeking To Recover $23 Million

NEW YORK - The liquidating trustee in the Chapter 11 bankruptcy proceeding of BGI Inc., formerly known as Borders Group Inc., on Jan. 4 filed the latest in a total of 92 adversary complaints against various creditors in the U.S. Bankruptcy Court for the ...read more

Pennsylvania Bank To Pay $3M To Settle Overdraft Fee Claims

PITTSBURGH - A federal judge in Pennsylvania on Feb. 12 granted preliminary approval of an agreement that calls for FNB Corp. and First National Bank of Pennsylvania (collectively, FNB) to pay $3 million to settle allegations that they reordered bank ...read more

Judge: Chinese Company Must Defend Conspiracy Claims Related To Vitamin C Imports

NEW YORK - In litigation alleging that Chinese corporations participated in an illegal cartel to fix prices and limit supply for exports of vitamin C to the United States, a defendant that claimed it was not a manufacturer is not entitled to summary judgment ...read more

Federal Judge Dismisses Challenge To Chase's Acquisition Of Loan

SAN FRANCISCO - A federal judge in California on Feb. 13 dismissed a wrongful foreclosure action arising from a loan issued by Washington Mutual Bank FA (WaMu) before its failure, refuting a borrower's arguments that challenged JP Morgan Chase Bank ...read more

3rd Circuit Affirms Dismissal Of Suit Alleging Illegal Credit Card Cancellation

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Feb. 15 affirmed the dismissal of a consumer's suit arising from RBS Citizens NA's (Citizens Bank's) refusal to renew his credit card, ruling that the bank's action did not violate ...read more

N.Y. Federal Judge Will Not Consider Veil Piercing In Vitamin C Price-Fixing Case

NEW YORK - The holding company of a vitamin C manufacturer must defend claims against it in litigation alleging that Chinese corporations participated in an illegal cartel to fix prices and limit supply for exports of vitamin C to the United States, a ...read more

Gupta Ordered To Pay More Than $6.2M In Restitution To Goldman Sachs Group

NEW YORK - A federal judge in New York on Feb. 25 ordered former Goldman Sachs Group Inc. director Rajat Gupta to pay more than $6.2 million in restitution to Goldman for legal fees incurred in defending Gupta for his role in an insider trading scheme ...read more

Federal Judge Finds Class Member In Contempt Of Settlement Order

SAN FRANCISCO - A federal judge in California on Feb. 28 granted Chase Bank USA NA's motion for contempt against a class member in a settled suit that alleged that the bank illegally increased consumers' credit card interest rates, finding that ...read more

Student-Athletes' Antitrust Lawsuit Related To Scholarships Is Dismissed

INDIANAPOLIS - Student-athletes who brought a putative class action against the National Collegiate Athletic Association, alleging that three NCAA bylaws violated federal antitrust law, failed to define a legally cognizable market, a federal judge in ...read more

Federal Judge Dismisses Antitrust Claim For Failure ToAllege Market Power

SACRAMENTO, Calif. - Home purchasers who sued a subdivision's developer, builder and seller, alleging that the defendants manipulated the market value of the homes in the subdivision in violation of the Sherman Act, failed to allege market power in ...read more

MRV Directors Agree To $3M Settlement In Backdating Lawsuit

LOS ANGELES - Members of the board of directors of MRV Communications Inc. will pay $3 million to settle claims that they engaged in an illegal stock options backdating scheme, according to a motion for preliminary approval of settlement filed March 1 ...read more

Merchant Prematurely Removed Credit Card Suit, Federal Judge Finds

LOS ANGELES - A federal judge in California on March 8 granted a consumer's motion to remand to a state court a putative class action alleging that a skin care company illegally solicits and records its customers' personal identifying information ...read more

Jury Finds Chinese Vitamin C Makers Fixed Prices; $153.3M Judgment Entered

NEW YORK - A federal judge in New York on March 14 entered judgment for $153.3 million after trebling a jury's $54.1 million verdict in favor of a direct purchaser class on its allegations that Chinese corporations participated in an illegal cartel ...read more

Court Allows Lawyer's Competition Law Action Against Online Legal Provider

SANTA ANA, Calif. - A lawyer claiming increased costs and reduced income from an online legal provider's conduct alleges injury under the California unfair competition law (UCL) and may pursue the action even though he lacks direct business dealings ...read more

Tying Arrangement Does Not Violate Antitrust Law, Illinois Federal Judge Rules

CHICAGO - A federal judge in Illinois on March 13 dismissed a class action filed by a purchaser against a concert promoter who claimed that the promoter illegally tied ticket sales to parking fees in violation of the Illinois Consumer Fraud and Deceptive ...read more

Several Claims By Direct Purchasers In Pool Products Antitrust MDL Continue

NEW ORLEANS - Direct purchasers of pool products failed to state claims asserting per se illegal boycott and monopolization but sufficiently stated rule-of-reason and attempted monopolization claims to defeat motions to dismiss under the Sherman Act, ...read more

FDIC's Breach Suit Against Closing Agent Can Continue, Judge Rules

WASHINGTON, D.C. - A federal judge in the District of Columbia on April 17 denied dismissal of a suit in which the Federal Deposit Insurance Corp, as the receiver for a failed bank, alleges that a closing agent failed to detect a fraudulent sale, disagreeing ...read more

Direct Purchasers Oppose Chinese Vitamin C Makers' Motion To Vacate Judgment

NEW YORK - A direct purchaser class on May 10 opposed Chinese vitamin C manufacturers' renewed motions for judgment and motion to reduce by $22.5 million a $253.3 million damages award in favor of the class on its allegations that Chinese corporations ...read more

3rd Circuit Says District Court Erred In Denying Arbitration

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on May 28 vacated a district court's denial of a motion to compel arbitration filed in a consumer's putative class action alleging that she and others like her were defrauded via consumer ...read more