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•  Headline Legal News - Legal News


A judge says she's not sure whether lawsuits filed to block a Nebraska city's ban on hiring and renting to illegal immigrants should be heard in federal or state court.

U.S. District Judge Laurie Smith Camp on Wednesday gave attorneys for the American Civil Liberties Union and the Mexican American Legal Defense & Educational Fund two weeks to submit briefs explaining why their suits belong in federal court.

The move delays any ruling about whether to block the city of Fremont's voter-approved ban.

But it still won't go into effect this week. The City Council has temporarily suspended the ordinance until the lawsuits are resolved.

Some in Fremont say the ordinance makes up for what they call lax federal law enforcement. Others argue it could fuel discrimination.


Goldman Allowed to Keep Issuing Securities

•  Headline Legal News     updated  2010/07/27 01:10


Goldman Sachs will remain qualified as an issuer of securities after settling civil fraud charges with the Securities and Exchange Commission this month, the agency ruled.

In a letter to Goldman’s legal counsel at the law firm Sullivan & Cromwell, the S.E.C. said that the settlement cleared a path for the firm to continue issuing securities under federal regulations.

As one of the world’s largest securities issuers, Goldman would have been placed into a tough spot if the S.E.C. had enjoined the firm from that business.
Under federal securities laws (and specifically Rule 405), the commission can deem a firm an “ineligible issuer” if within the past three years the brokerage had broken S.E.C. regulations.

Goldman’s settlement, announced almost two weeks ago, included the firm’s paying $550 million and admitting to mistakes in its marketing materials. What it didn’t do was require the firm to admit to  wrongdoing alleged by the S.E.C. regarding a mortgage-linked investment.




Conrad Black, the brash former newspaper magnate who lived extravagantly before his 2007 federal conviction for defrauding shareholders, may soon be released from a Florida prison after a federal appeals court granted him bail Monday.

The ruling from the 7th Circuit U.S. Court of Appeals came weeks after the U.S. Supreme Court kicked Black's fraud conviction back to a lower court.

Black, who renounced his Canadian citizenship to become a member of the British House of Lords, was convicted along with three other former executives from the media empire Hollinger International of swindling the company's shareholders out of $6.1 million. He was acquitted of nine other charges.

It was not immediately clear when Black, 65, would be released from the low-security prison in Coleman, Fla., where he has served more than two years of a 6 1/2-year sentence. The conditions of his release will be determined by U.S. District Court judge in Chicago, according to an order from the three-judge panel.

Last month, the Supreme Court weakened the "honest services" law that was central to Black's fraud conviction. The justices left it up to a lower court to decide whether the conviction should be overturned. That decision has not yet been made.




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