May 19
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The Federal Trade Commission (“FTC”) and Sketcher USA Inc. reached a $40 million settlement on charges that Sketchers deceived consumers. The FTC joined with 45 attorneys nationwide in the consumer protection agency’s claims against Sketchers. According to the FTC, The Federal Trade Commission announced that Skechers USA, Inc. has agreed to pay $40 million to …
Permanent link to this article: http://betweenthenumbers.net/2012/05/ftc-and-skechers-agree-to-a-40-million-settlement/
May 08
In Tussey vs. ABB. Inc. (Case No. 2:06-CV-04305-NKL, March 31, 2012), a United States District Court for the District of Western Missouri decided an important case regarding common fees and revenue sharing within 401(k) plans. The case imposed extensive liability on the plan sponsor, resulting in $36.9 million of damages, plus Plaintiff’s attorneys’ fees. We …
Permanent link to this article: http://betweenthenumbers.net/2012/05/big-plaintiff-victory-in-revenue-sharing-401k-trial/
May 02
The U.S. Department of Labor has ordered Wal-Mart to pay $4.8 million in back wages and damages for failing to pay workers for overtime. The Wal-Mart employees who were affected are vision center managers and asset protection coordinators at Wal-Mart Discount Stores, Wal-Mart Supercenters, Neighborhood Markets, and Sam’s Club warehouses. Wal-Mart considered these employees exempt …
Permanent link to this article: http://betweenthenumbers.net/2012/05/wal-mart-to-pay-4-8-million-in-back-wages-and-damages/
Apr 24
A Manhattan Judge dismissed a lawsuit brought by Howard Stern again Sirius XM Radio Inc. The lawsuit centered around Stern’s claim that the company owed him stock awards for helping Sirius achieve specific subscriber counts. Stern claims he was owed $300 million and his agent, Don Buchwald, an additional $30 million in stock. Stern’s original …
Permanent link to this article: http://betweenthenumbers.net/2012/04/specific-language-is-important-in-agreements/
Apr 11
Reebok and Nike have reached a settlement in their dispute over sales of Tim Tebow merchandise. Nike had filed suit in March, alleging that Reebok was improperly selling sporting apparel referencing the football superstar’s new team affiliation (Tebow was traded from the Denver Broncos to the New York Jets in March). Nike asserted that it …
Permanent link to this article: http://betweenthenumbers.net/2012/04/reebok-agrees-to-pull-tebow-apparel-from-shelves-in-licensing-dispute/
Apr 05
After a jury trial, ATA Airlines (ATA) won a nearly $66 million verdict against Federal Express Corporation (FedEx). FedEx appealed that ruling. In ATA Airlines, Inc. v. Federal Express Corp., No. 11-1382 (7th Cir. Dec. 27, 2011), a distinguished panel consisting of Justices Easterbrook, Posner, and Wood criticized the complex damages analysis accepted by the …
Permanent link to this article: http://betweenthenumbers.net/2012/04/case-provides-primer-on-regression-analysis-and-what-can-go-wrong/
Mar 06
In California multiple (usually defense-oriented) articles are being published about the importance of a class action trail reversal in re: Duran v. US Bank National Association, California Court of Appeal, 1st Appellate Dist., (February 6, 2012). The articles incorrectly claim that statistical sampling cannot be used to prove liability in a class action case. The …
Permanent link to this article: http://betweenthenumbers.net/2012/03/duran-class-action-reversal-not-near-as-important-as-suggested/
Feb 13
Oracle and competitor SAP went to trial over copyright infringement admitted by a now-closed TomorrowNow that SAP acquired. SAP acknowledged liability of their acquired company, and apologized for the infringement. In September 2011, a jury awarded Oracle $1.3 billion, but the U.S. District Court judge reduced the award, offering Oracle the opportunity to either accept …
Permanent link to this article: http://betweenthenumbers.net/2012/02/oracle-rejects-272-million-and-opts-for-a-second-damages-trial/
Feb 02
In late January, the IRS issued final regulations regarding the taxation of personal injury litigation damages. The regulations provide guidance regarding tax law changes included in the Small Business Job Protection Act passed in 1996. Specifically: Litigation settlements are excluded from gross income for damages received on account of physical injuries or sickness. Damages from …
Permanent link to this article: http://betweenthenumbers.net/2012/02/irs-issues-final-regulations-on-taxation-of-personal-injury-damages/
Jan 19
A creditor-friendly, minority view comes from a First Circuit District Court. If this rationale catches on, this could have a significant impact on bankruptcy preference litigation. Generally speaking, a “preference” under Section 547 of the Bankruptcy Code is a payment of an old (or “antecedent”) debt. The Bankruptcy Code allows a bankrupt company to recover …
Permanent link to this article: http://betweenthenumbers.net/2012/01/possible-double-counting-%e2%80%9cnew-value%e2%80%9d-in-bankruptcy-preference-actions/
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