Legal News

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Find the latest legal news in business on range of issues, including law, civil rights, immigration and white-collar crime.

May 6, 2011

Two former executives of an Oregon real estate development firm were indicted recently by a federal jury on charges of securities, mail, bank and wire fraud, reports The Associated Press.

Federal prosecutors said recently that 46-year-old Joseph LaCoste and 43-year-old Angele McCoy have both been hit with the charges.

Apr 28, 2011

Former Taylor Bean chairman Lee Farkas was recently convicted on all 14 counts of bank, securities and wire fraud, the Justice Department said.

Reuters reports that the guilty verdict was handed down by a federal jury in Alexandria, Virginia. Assistant Attorney General Lanny Breuer told reporters that the conviction represented a "momentous and a very significant case."

Prosecutors alleged that fraud at Taylor Bean, one of the largest mortgage firms to collapse during the recent housing market crash, led to at least $1.9 billion in losses.

Apr 28, 2011

U.S. Representative Lamar Smith, a Republican from Texas who heads the U.S.

Apr 28, 2011

A man who claims his beating at the hands of Oneonta, New York police was racially motivated is planning to file a civil rights lawsuit against the city, reports Fox 40, a local television station.

According to the news provider, Bradford Shanks claims that he was beaten by Oneonta police officer Michael Breen in January after a traffic stop.

Apr 27, 2011

The Supreme Court recently gave a 5-4 victory to cell phone carriers who include a clause in their contracts that prohibit large class-action lawsuits, CNN reports.

According to the news provider, the ruling put an end to a claim that AT&T was falsely advertising its cell phone as "free," because the plaintiffs were seeking to bring in others for a larger class action suit.

In writing for the majority, Justice Antonin Scalia said that class arbitration cannot be brought against companies whose contracts prohibit it.

"The California law in question