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Former Goldman Sachs director convicted of securities fraud
NEW YORK — A former Goldman Sachs director was found guilty Friday of feeding confidential information to a corrupt hedge fund manager, becoming the most prominent defendant convicted so far in a wide-ranging probe conducted by investigators armed with wiretaps. — born in India, educated at Harvard and well-known in corporate America — was convicted […]
Fatigue blamed for fatal N.Y. bus crash
WASHINGTON — A tour bus crash last year that claimed 15 lives was probably caused by a driver suffering from too little sleep and a bus company that provided too little safety oversight, the National Transportation Safety Board said Tuesday. The five-member board, in a unanimous vote, said the driver, Ophadell Williams, had almost no […]
Company matching retirees with nonprofits
WHITE PLAINS, N.Y. — As she got older, Gail McDaniel felt she should be doing more to make the world better. She’d been laid off after a long career in retail, her career-coaching sideline was tapering off and she wanted to keep working — but only at something that would contribute to society. “I wanted […]
EPA assesses states’ Chesapeake restoration plans
The Environmental Protection Agency is urging New York to submit its overdue state plan for cutting pollution that flows into Chesapeake Bay, part of an effort by all six bay watershed states and the District of Columbia, a top EPA official said Thursday. EPA Regional Administrator Shawn Garvin spoke to reporters about the agency’s assessment […]
Senator asks airlines to drop seat fee for kids
NEW YORK — Sen. Charles Schumer is urging airlines to allow families with young children to sit together without paying extra. The New York Democrat is reacting to an Associated Press story last week detailing how families this summer are going to find it harder to sit together without paying fees that can add up […]
A prequisite for pro bono?
Lawyers across the country have been talking about New York’s new mandate requiring those seeking to join the bar to complete 50 hours of pro bono work. New York will be the first state to institute such a requirement, which will take effect starting next year. New York Chief Judge Jonathan Lippman announced the requirement May […]
Catholic dioceses, colleges sue over mandate for contraceptive coverage
NEW YORK — Roman Catholic leaders opened a new front against the Obama administration mandate that employers provide workers birth control coverage, filing federal lawsuits Monday on behalf of dioceses, schools and health care agencies that argued the requirement violates religious freedom. Among the plaintiffs is the University of Notre Dame, which in February praised […]
Shareholders sue JPMorgan over $2B trading loss
NEW YORK — Shareholders of JPMorgan Chase & Co. have filed two lawsuits against the nation’s biggest bank, accusing it and its leaders of taking excessive risk and causing a monumental $2 billion trading loss. The company disclosed the loss last week, saying it resulted from a failed hedging strategy. The lawsuits filed on Wednesday […]
Law blog roundup
If it’s Monday it must be … the start of a special General Assembly session — and, of course, the roundup. — New York will require 50 hours of pro bono service in order to join the state bar. — Maryland’s special session has mile-high company. — Will lawyers invest in an online service designed […]
Fitch downgrades JPMorgan Chase & Co.
NEW YORK — Fitch Ratings has downgraded its assessment of America’s biggest bank, JPMorgan Chase & Co. The rating agency’s move comes a day after JPMorgan disclosed a surprise $2 billion trading loss in a portfolio designed to hedge against risks the company takes with its own money. Fitch says the size of the loss […]
Treasury yields unchanged as investors wait
NEW YORK — Treasury prices took a breather Friday after rising all week. Prices and yields were relatively flat. Investors weren’t ready to abandon the safety of U.S. Treasury bonds even after an optimistic economic survey from Germany, which sent stock markets higher in Europe and in the U.S. That’s because Spain and Italy’s 10-year […]
N.Y. suit fails military schools for rape reaction
NEW YORK — A New York lawsuit is asking a court to force the U.S. Military Academy at West Point and the U.S. Naval Academy to improve their response to rapes and sexual assaults. The lawsuit was filed Friday on behalf of two women who say they were raped at the training grounds for military […]
