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Category : Twitter
“Magnetar often purchased the riskiest portion of CDOs, enabling the banks to complete the deals. Magnetar also frequently bet against those same CDOs, using side bets. Magnetar’s purchases ultimately spawned at least $40 billion worth of risky CDOs in 2006 and 2007.”
WSJ Law Blog: “The big law-and-biz headline from Wednesday involved drug maker GlaxoSmithKline, which agreed to pay $750 million and enter a guilty plea to settle charges that it put bad drugs into the stream of commerce.”
From the Washington Post blog, The Checkup: Concerns for Roche Holding AG’s Accutane acne medication, Pfizer’s Bextra painkiller and Abbott Laboratories’ weight-loss drug Meridia were earlier expressed by FDA medical reviewer David Graham who told a U.S. Senate panel that the U.S. Food and Drug Administration should scrutinize the drugs’ side effects.
Marie Rita Kennedy-Lebar said in a suit filed Tuesday in the U.S. District Court for the District of New Jersey that VW and its affiliates have known about but failed to fix headlights that sporadically shut off, exposing drivers to significant danger. The problem occurs in Audi vehicles equipped with an optional high intensity gas discharge headlamp system with xenon bulbs.
VW claims the high intensity gas discharge headlamp systems are superior to halogen headlights, a less expensive option for VW vehicles, because they produce a greater amount of light, consume less power and are intended to last longer.
But while touting the superiority of the product, VW has known that the systems suffer from intermittent failures due to an underlying systemic problem, the suit says.
Kennedy-Lebar is represented by lawyers from Seeger Weiss LLP, including associate Scott George.
Of these, only Wayne “Hurricane” Hargrove, fighting for the super-middleweight title, had a trial lawyer in his corner. Chris Seeger, whose firm Seeger Weiss has won billions in settlements against the scoundrels behind Vioxx, Accutane and other medications, was there to help his friend punch people in the face.
Mr. Seeger talks about martial arts as if they are the natural extension of courtroom competition. He divides his time between New York and New Orleans, where he is carrying out a lawsuit against contractors who used faulty Chinese drywall in reconstruction projects. He trains three days a week, often coming straight to the gym from the airport.
[A]t his first bout with Mr. Seeger in his corner[, t]hey waited patiently while his opponent spent minutes dancing his way into the ring. When the bell finally rang, Mr. Hargrove skipped to the middle, dodged a sloppy overhand and, with a jab and a hook taught by the trial lawyer, put the dancer face down on the mat. At five seconds, it was the New Jersey record for fastest knockout, and it set him up for his first title shot.
“We think it’s going to be a pretty big litigation,” agreed Chris Seeger, a principal at Seeger Weiss, a New York-based personal injury law firm.
DePuy sold about 93,000 ASR Hip Resurfacing Systems and ASR XL Acetabular Systems. The company has reported that about 12 percent of patients required revision surgery within five years after implantation.
Seeger said the problem appears to be with the metal-on-metal design of the device, which “seems not to adhere well in the hip joint.”
“The problem is that if there’s a surgical revision required, the whole thing has to be re-done,” he said. “That’s a nasty, messy surgery.”
If you’re looking for information about the 2012 Stryker hip implant recall, please visit http://www.seegerweiss.com/stryker-hip-recall.
From the Associated Press:
A Chinese drywall manufacturer facing thousands of homeowners’ court claims and several other companies have agreed to pay to repair 300 homes in four states in a pilot program, an attorney involved in the deal said Wednesday.
Homeowners in Florida, Louisiana, Alabama and Mississippi whose homes had drywall manufactured by Knauf Plasterboard Tianjin Co. will be eligible to participate in the program and get their homes fixed, said Richard Duplantier Jr., an attorney for a Louisiana-based drywall supplier.
Duplantier said his client, Interior Exterior Building Supply, and several other homebuilders and insurance companies will help pay for the repairs.
The pilot program could pave the way for a larger settlement of more than 3,000 claims against Knauf.
Seeger Weiss LLP announces that founding member Christopher A. Seeger, as a part of a negotiating team that included Lead Counsel Arnold Levin of Levin Fishbein Sedran & Berman, and Liaison Counsel Russ M. Herman of Herman, Herman, Katz & Cotlar, LLP, has obtained a breakthrough settlement to remediate homes affected by Chinese drywall. The agreement was reached with several key defendants including Knauf Plasterboard Tianjin (KPT), builders, drywall suppliers and their insurers including Interior/Exterior Building Supply, Banner Supply Co., the Louisiana Homebuilders Indemnity Trust, QBE Insurance Group, Chartis and State Farm Insurance, and other Knauf entities. Knauf in partnership with builders, suppliers and insurers, will fund a demonstration remediation program, which will facilitate the removal of KPT drywall from up to 300 homes in Alabama, Mississippi, Louisiana and Florida. If successful, it is expected that this pilot program will be expanded to remediate thousands of homes with KPT drywall.
From the Wall Street Journal:
The emerging business of web scraping provides some of the raw material for a rapidly expanding data economy. Marketers spent $7.8 billion on online and offline data in 2009, according to the New York management consulting firm Winterberry Group LLC. Spending on data from online sources is set to more than double, to $840 million in 2012 from $410 million in 2009.
Some companies collect personal information for detailed background reports on individuals, such as email addresses, cell numbers, photographs and posts on social-network sites.
Others offer what are known as listening services, which monitor in real time hundreds or thousands of news sources, blogs and websites to see what people are saying about specific products or topics.
From Jalopnik and Business Insider: “It now turns out that not only were those fuel economy claims misleading, but the gasoline engine is actually used to motivate the wheels — making the Volt potentially nothing more than a very advanced hybrid car and pushing some automotive journalists like Scott Oldham at Edmunds.com to claim “GM lied to the world” about it.”