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Court: Star Chinese investor pleads guilty in stock case
Headline Legal News |
2016/12/06 13:19
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A Chinese court says a star securities trader who was arrested following last year's stock market collapse has pleaded guilty to insider trading and manipulating share prices.
The court in the eastern city of Qingdao said in a statement Tuesday that Xu Xiang and two co-defendants pleaded guilty at the start of a trial but no verdict had been issued.
Xu was arrested in November after a rapid rise in Chinese share prices collapsed. Top executives of China's biggest state-owned securities firm also were arrested in a separate case.
The court statement said Xu and his co-defendants were accused of conspiring with executives of 13 companies from 2010 to 2015 to inflate their share price and then sell.
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Supreme Court takes up cases about race in redistricting
Attorney News |
2016/12/05 13:19
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The Supreme Court is taking up a pair of cases in which African-American voters maintain that Southern states discriminated against them in drawing electoral districts.
The justices are hearing arguments Monday in redistricting disputes from North Carolina and Virginia.
The claim made by black voters in both states is that Republicans created districts with more reliably Democratic black voters than necessary to elect their preferred candidates, making neighboring districts whiter and more Republican.
A federal court struck down two North Carolina districts as unconstitutional because they relied too heavily on race. In Virginia, a court rejected a constitutional challenge to 12 state legislative districts. The justices have frequently considered the intersection of race and politics.
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UK Supreme Court hears landmark challenge to Brexit plans
Legal News |
2016/12/04 13:19
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Britain's Supreme Court began hearing a landmark case Monday that will decide who has the power to trigger the U.K.'s exit from the European Union — the government or Parliament.
The legal battle has major constitutional implications for the balance of power between the legislature and the executive, and has inflamed Britain's already raw wound over how and whether to leave the EU.
The court's most senior justice, David Neuberger, opened the four-day hearing by condemning the "threats of serious violence and unpleasant abuse" directed at Gina Miller, one of the claimants trying to ensure Parliament gets a say.
"Threatening and abusing people because they are exercising their fundamental right to go to court undermines the rule of law," Neuberger said, banning publication of the addresses of Miller and other parties in the case.
Neuberger and 10 other justices at the country's top court must decide whether Prime Minister Theresa May's government can invoke Article 50 of the EU's key treaty, the trigger for two years of divorce talks, without the approval of lawmakers.
May plans to trigger Article 50 by the end of March, using centuries-old government powers known as royal prerogative. The powers — traditionally held by the monarch but now used by politicians — enable decisions about joining or leaving international treaties to be made without a parliamentary vote.
Financial entrepreneur Miller and another claimant, hairdresser Deir Dos Santos, went to court to argue that leaving the EU would remove some of their rights, including free movement within the bloc, and that shouldn't be done without Parliament's approval.
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US Supreme Court could hear Charleston company, Lexmark case
Court Line News |
2016/12/03 13:20
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A small Charleston company that refills and resells empty toner cartridges could soon be defending itself before the U.S. Supreme Court in a dispute that could affect huge tech companies and pharmaceutical firms.
Lexmark, a Lexington, Kentucky-based printing corporation, sued Impression Products, accusing the company of patent infringement for selling its cartridges, The Charleston Gazette-Mail reported.
At issue is what is known as the first-sale doctrine, a principle limiting a patent holder's rights after a product has been sold once.
Impression Products argued Lexmark's patents on its cartridges are no longer effective after the cartridges are sold, allowing the smaller company to sell them freely. Lexmark cartridges can cost up to hundreds of dollars, and Impression Products sells used ones at a lower price.
In February, a federal court sided with Lexmark, saying the corporation's patent rights weren't exhausted, regardless of whether the cartridges were being purchased from U.S. or foreign suppliers — Impression Products has purchased toner cartridges from Canadian suppliers in the past.
Last month, the federal government recommended the Supreme Court review the case.
Impression Products President Eric Smith explained that while this doesn't guarantee that the justices will review the case, it sharply increases the probability of it happening.
The implications of the case go beyond ink cartridges, as Samsung and Google have backed Impression Products' argument. The tech giants operate foreign supply chains that would have to jump through additional hoops if the first-sale doctrine did not apply for foreign purchases. Pharmaceutical companies such as Pfizer have supported Lexmark, with a Lexmark victory likely giving their own patents greater protection.
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ICC prosecutor: African states leaving court is 'regression'
Legal News |
2016/12/03 13:20
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The International Criminal Court's prosecutor said Tuesday that it is a "regression" for African nations — including her home country of Gambia — to quit the court and said the continent should work with her office to end impunity for atrocities.
Speaking to The Associated Press at the court's headquarters overlooking the North Sea on the edge of The Hague, Prosecutor Fatou Bensouda said regional and local courts in Africa can also play a key role in bringing perpetrators of atrocities to justice.
Bensouda's comments came as the court's governing body, the Assembly of States Parties, met nearby with the issue of departing African states figuring prominently in its discussions.
South Africa, Burundi and Gambia have announced plans to leave the court, which has 124 member states, sparking fears of a domino effect among other African nations.
"I think it's a setback for the continent, it's a regression for the continent that there are some African states that are deciding to withdraw from the ICC," Bensouda said.
However, she said that the announced withdrawals have galvanized support for the court among other African countries attending the annual gathering of member states.
"I wanted to emphasize that today during this Assembly of States Parties you have the vast majority of African states recommitting to the ICC and renewing ... support for the ICC," Bensouda said.
One way of the international court engaging with Africa is by supporting local and regional courts, Bensouda said. Her office is working with authorities in Central African Republic to help establish a court to prosecute atrocities in that conflict-torn country.
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Court blocks federal plan to extend overtime pay to many
Legal Interview |
2016/12/02 13:19
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In a blow to the Obama administration's labor-law plans, a federal court has blocked the start of a rule that would have made an estimated 4 million more American workers eligible for overtime pay heading into the holiday season.
As a result of Tuesday's ruling, overtime changes set to take effect Dec. 1 are now unlikely be in play before vast power shifts to a Donald Trump administration, which has spoken out against Obama-backed government regulation and generally aligns with the business groups that stridently opposed the overtime rule.
The U.S. District Court in the Eastern District of Texas granted the nationwide preliminary injunction, saying the Department of Labor's rule exceeds the authority the agency was delegated by Congress.
"Businesses and state and local governments across the country can breathe a sigh of relief now that this rule has been halted," said Nevada Attorney General Adam Laxalt, who led the coalition of 21 states and governors fighting the rule and has been a frequent critic of what he characterized as Obama administration overreach. "Today's preliminary injunction reinforces the importance of the rule of law and constitutional government."
The regulation sought to shrink the so-called "white collar exemption" that allows employers to skip overtime pay for salaried administrative or professional workers who make more than about $23,660 per year. Critics say it's wrong that some retail and restaurant chains pay low-level managers as little as $25,000 a year and no overtime — even if they work 60 hours a week.
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