Goldman Sachs Tentatively Agrees to $270 Million Settlement as Mortgage Security Litigation Winds Down

Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to


Judge Ordered Remi Walden $150M Award Reduced

Judge J. Kevin Chason in Georgia’s Decatur County Superior Court is my new hero! He told Fiat Chrysler to suck it regarding their request for a new trial in the tragic fire death of little Remi Walden. In his opinion, the evidence against Fiat was “overwhelming.” The judge also ordered the Walden $150M award reduced


U.S. Prosecutors Ask Supreme Court to Review Newman Insider Trading Ruling

New York-based U.S. Attorney Preet Bharara may be the greatest prosecutor who ever lived. From the Bernie Madoff scandal to Toyota, to a large portion of the New York state legislature; he has left a historic level of convictions and penalty awards. This includes a remarkable streak of 85 consecutive insider trading convictions before losing


First Morcellator Cancer Suit Settled

7/26/2015 Morcellator. It’s a world that leaves a funny (as in “Eeww!”) feeling in your mouth. That’s nothing compared to what the medical instrument leaves in your body. Morcellation (shudders) can spread previously undiagnosed malignant cancer cells throughout the patients’ pelvic and abdominal cavities, which shortens the patients’ life expectancy. The first morecellator cancer suit


Former Executive Could Face Life for Peanuts

7/24/2015 The U.S. Probation Office has recommended that the former owner of Peanut Corporation of America, Stewart Parnell, be sentenced to life in prison for allowing several shipments of peanuts from facilities infected with salmonella. The peanuts led to the deadliest food outbreak in U.S. history from 2008-2009, causing nine deaths and over 700 illnesses


JP Morgan Agrees to $388 Million Class-Action Settlement for Mortgage-Backed Securities Dealings

On Friday, banking giant JP Morgan Chase agreed to a $388 million settlement to resolve a class-action lawsuit claiming that the company misled investors regarding the stability of $10 billion worth of mortgage-backed securities (MBS). The lead plaintiff in the case was the Fort Worth employees’ retirement fund, along with others including the Northern and Southern


Grimm Outlook: Former Representative Sentenced to Prison for Tax Evasion

7/19/2015 Former Congressman Michael Grimm (R-NY) was sentenced on Friday to eight months in prison and one year of supervised released in a Brooklyn federal court after pleading guilty to tax evasion. Apologizing in front of Judge Pamela Chen, Grimm pleaded for the judge to avoid prison; however Chen said that she was troubled by the


U.S. Reached an $8M Settlement Against Blanding Health Mart Pharmacy

7/16/2015 The U.S. reached an $8M settlement against Blanding Health Mart Pharmacy over violations of the False Claims Act (FCA). The government alleged that Blanding, a compounding pharmacy, was knowingly billing TRICARE for improperly written and medically unnecessary compounding pain medicine. TRICARE is the Department of Defense’s military insurance program providing civilian benefits for military