The Supreme Court won't hear an appeal over whether the family of a man allegedly killed by former Boston mob boss and FBI informant James "Whitey" Bulger should get millions of dollars from the government.
The high court on Monday refused to hear an appeal from Edward Halloran's estate, which wants more than $2 million in damages from the FBI.
Bulger and another gang member are alleged to have shot Halloran on the waterfront in 1982. Bulger was an FBI informant at the time, and two judges ordered the FBI to pay damages to the families.
But the 1st U.S. Circuit Court of Appeals ruled the families did not file their claims within the statute of limitations.
The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm.
The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm in Willcox, Ariz.
The Halls were forced to sell their family farm for $960,000 to settle their bankruptcy debts. That sale brought about capital gains taxes of $26,000.The Halls wanted the taxes treated as part of the bankruptcy, paying part of it and having the court discharge the rest.
The IRS objected to that plan, saying all of the taxes must be paid and the 9th U.S. Circuit Court of Appeals in San Francisco agreed with the tax agency.
The high court agreed with that decision.
The Supreme Court won't hear an appeal from residents of Puerto Rico seeking to gain a voting representative in Congress.
The high court turned away the appeal from Gregorio Igartua and other Puerto Ricans on Monday.
Territorial status grants residents of Puerto Rico U.S. citizenship, but they pay no federal income taxes and cannot vote in presidential elections. Their congressional representative also cannot vote in Congress.
A federal judge threw out the lawsuit, and the 1st U.S. Circuit Court of Appeals upheld that decision, saying that since Puerto Rico was not a state, it could not have a voting member of Congress.
The high court refused to hear the appeal.
New York's top court has upheld the firing of a hedge fund compliance officer who says he confronted its chief executive about improperly selling personal stock before doing the same for clients.
The Court of Appeals ruled 5-2 in rejecting Joseph Sullivan's damages claim against Peconic Partners, Peconic Asset Management and fund President William Harnisch.
The majority says New York common law generally gives an employer the "unimpaired" right to fire an at-will employee, with a few exceptions. It says there is no exception for wrongful discharge of a hedge fund's compliance officer.
Dissenters say the court should expand an exception it has carved out for lawyers who get fired for insisting on professional ethics. They say the majority ruling "facilitates the perpetuation of frauds."
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired the common stock of Groupon, Inc. pursuant and/or traceable to the allegedly false and misleading Registration Statement and Prospectus issued in connection with Groupon’s November 4, 2011 initial public offering, including purchasers of Groupon common stock between February 8, 2012 and March 30, 2012.
Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (a) the Company materially understated refund reserves for fourth quarter 2011 due to a failure to properly account for coupon refunds; (b) as a result, the Company materially misstated its previously reported fourth-quarter and full-year 2011 financial results; and (c), the Company lacked adequate internal and financial controls.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Groupon common stock pursuant or traceable to the Company’s November 4, 2011 initial public offering, and/or during the Class Period described above, you have certain rights, and have until June 4, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member.
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