The Miller Law Firm has successfully settled a class action lawsuit against Well Fargo Bank N.A.’s securities lending program. Representing nearly 100 institutional investors, the Miller Law Firm argued that the bank mischaracterized its securities lending program as being safe, but instead placed significant amounts of cash collateral in high-risk investments such as structured investment vehicles which resulted in...
Continue ReadingOverdraft fee class action suit settled. Bank blamed software for reordering transactions. By: Michigan Lawyers Weekly Staff in Verdicts & Settlements April 25, 2014 In a federal class-action lawsuit, defendant Citizens Bank was accused of charging overdraft fees to customers as a result of the bank’s alleged resequencing of debits made on its customer’s accounts. Plaintiffs alleged that Citizens...
Continue ReadingE. Powell Miller is lead counsel in a jury trial scheduled to start April 14, 2014 against Wells Fargo Bank involving its securities lending program. There have been two prior jury trials on this issue, one in which the jury ruled in favor of the plaintiff and one in favor of Wells Fargo. In the later trial, although the...
Continue ReadingPlaintiffs say bank mismanaged securities By: Michigan Lawyers Weekly Staff in Verdicts & Settlements February 4, 2014 February 4, 2014 Download PDF Plaintiffs Board of Trustees of the City of Birmingham Retirement System asserted that defendant Comerica Bank had mismanaged plaintiffs’ securities lending program. Under the program, Comerica lent its clients’ securities to third parties. In turn, the borrowers...
Continue ReadingSupplemental disclosures had critical details about intrinsic value of company By: Michigan Lawyers Weekly Staff in Verdicts & Settlements January 28, 2014 Download the PDF here. Macomb County Circuit Court Judge John C. Foster approved a class-action settlement that secured valuable disclosures relating to the merger of defendant Asset Acceptance Capital Corp. with defendant Encore Capital Group Inc. On...
Continue ReadingClass action targets herbicide manufacturer Claimants say product meant to wipe out only weeds also killed trees Michigan Lawyers Weekly Staff in Verdicts & Settlements December 10, 2013 An environmental class-action lawsuit was filed July 8, 2011, in Oakland County Circuit Court. It concerned numerous Michigan-based complaints of damage and death to trees after the application of Imprelis herbicide...
Continue ReadingThe Empire is still out there. I don't think it's wise to... No time to discuss this as a committee. I am not a committee! You can't make the jump to light-speed in this asteroid field... Sit down, sweetheart. We're taking off! Look! I see it, I see it. We're doomed! The cave is collapsing. This is no cave....
Continue ReadingDownload Full Article Pontiac After nearly six hours of mediation Tuesday, the Detroit-based rock band The Romantics reached an agreement with a former bandmate, averting an Oakland County Circuit Court trial scheduled to begin this week that would have opened up tax and business records, personal bankruptcy and, perhaps, the seamier side of the recording industry. The Romantics, who...
Continue Reading$2.975 million settlement in securities fraud class-action lawsuit where management had misrepresented the scope and severity of alleged FDA violations Securities fraud class-action suit is settled In a securities fraud class-action lawsuit in U.S. District Court for the Eastern District of Michigan, the plaintiffs argued that defendant Caraco Pharmaceutical Laboratories Ltd. and its management had misrepresented the scope and...
Continue ReadingDistributor: Contract to not sell in restricted territory breached Arbitration panel agrees supplier’s vendor network was knowingly usurped By: Michigan Lawyers Weekly Staff in Verdicts & Settlements October 28, 2011 In a breach-of-contract action filed with the American Arbitration Association, plaintiff Heat Controller International, LLC (International) sought monetary damages from defendant Heat Controller, Inc. (HCI) for soliciting and purchasing...
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