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Legal news from Monday, March 21, 2005 |
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Corporations and securities brief ~ Ex-HealthSouth CFO says Scrushy made all decisions
Bernard Hibbitts on March 21, 2005 4:35 PM ET

[JURIST] Leading Monday's corporations and securities law news, former HealthSouth Corp. [corporate website] chief financial officer Weston Smith has testified that former CEO Richard Scrushy [official website] made all decisions at the company. The testimony undermines Scrushy's defense that he was unaware of the massive accounting fraud at the company. Read the Scrushy indictment [PDF]. Reuters has more.
In other news... - As previously reported on JURIST's Paper Chase, Time Warner Inc. [corporate website], the world's largest media company, and the SEC [official website] have agreed on a settlement related to fraud charges for overstating online advertising revenues and the number of its Internet subscribers. Time Warner will pay a fine of $300 million and will restate its financial results to reduce its revenues by $500 million from 2000 through 2002. Time Warner did not admit or deny any wrongdoing but will appoint an independent examiner to review the company's accounting practices. Read the Time Warner press release. Read the SEC press release, litigation release, and complaint [PDF]. AP has more.
- Internet conglomerate IAC/InterActive [corporate website] announced it will buy Internet search provider Ask Jeeves [corporate website] for $1.85 billion. The move is seen as the beginning of further consolidation in the internet search provider area. Read the IAC/InterActive press release. CNN has more.
- The United States has threatened the EU with a new lawsuit over European aid for plane maker Airbus [corporate website] as the EU said it would not budge from its position without further concession by the US on its support for Boeing [corporate website]. The negotiations come after the US and EU launched competing litigation at the WTO [official website] over subsidies in the aviation industry. The negotiations broke down last week as the US accused the EU of backsliding on its commitment to stop state aid to aircraft manufacturers. Reuters has more.
- Rambus Inc. [corporate website], a US technology licensing company, has settled its patent case against Germany's Infineon Technologies [corporate website]. Infineon will pay Rambus royalties to settle all outstanding issues. Read the Rambus press release. Read the Infineon press release. Also Monday, Hynix Semiconductor [corporate website] of South Korea announced it has set aside money which would be used to settle a related antitrust case. Reuters has more.
Click for previous corporations and securities law news.


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Environmental brief ~ India PM imposes ban on tiger gifts to foreign dignitaries
Tom Henry on March 21, 2005 4:20 PM ET

[JURIST] In Monday's environmental law news, facing a declining tiger population, India Prime Minister Manmohan Singh [official website] has banned gifts of live tigers to foreign dignitaries, established a wildlife crime prevention bureau, and created a taskforce of forest officials, wildlife experts and community leaders to report on the status of the tiger population. There are an estimated 2,000-4,000 tigers left in India, which account for about half of the world's tiger population. There had been over 40,000 tigers in India a century ago, but they have been killed largely for trophies and their supposed medicinal qualities. Reuters has the full story.
In other news, - Japan has again refused to establish a timetable for the resumption of US beef imports. US Secretary of State Condolezza Rice brought up the issue Saturday during a visit to Tokyo. The ban has been in effect since late 2003, and in October 2004 Japan had agreed to allow beef imports once the technical details were worked out. The Japan Food Safety Commission [official website] hopes to have a final report ready for government approval in May. Reuters has the full story.
- The European Commission [official website] has demanded that Poland reduce its plans [text PDF] for 2005-2007 CO2 emissions by 16.5 percent. Poland Ministry of Environment [official website] deputy minister, Tomasz Podgajniak, has responded by calling for the development of nuclear power plants. Poland is primarily powered by coal-fired power plants, and had planned to open a nuclear plant by 2022. The EC demand forces Poland to take immediate action to produce a clean energy supply. The Warsaw Business Journal has the full story.


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Supreme Court refuses to hear Bush recess appointment case
Russell Adkins on March 21, 2005 10:35 AM ET

[JURIST] The US Supreme Court declined Monday to hear a case on whether President Bush overstepped his authority when he appointed a federal judge while the Senate was on a short recess. Three appeals sought to challenge the temporary appointment of former Alaba,a Attorney General William Pryor [court profile] to the US Court of Appeals for the Eleventh Circuit [official website] while the Senate was on a brief break, a move which appellees claimed was an attempt by the President to avoid Senate confirmation hearings for his nominee. The Court's refusal to address presidential power in judicial appointments could be significant with potential openings on the Supreme Court looming. Justice John Paul Stevens [OYEZ profile], writing with respect to the denial of certiorari [PDF], said that the ruling should not be interpreted as bearing on the merits of the issues involved, and expressed his wish that the Court might be willing to hear the case once all appeals have been exhausted. The cases are Miller v. United States, 04-38, Franklin v. United States, 04-5858, and Evans v. Stephens, 04-828. AP has more.


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Legal agenda and live webcasts ~ Monday, March 21
Chris Buell on March 21, 2005 12:01 AM ET

[JURIST] Here's a run-down of law-related events, expected developments and live webcasts on JURIST's docket for Monday, March 21.
The US Supreme Court [official website] will hear oral arguments in two cases today beginning at 10 AM ET. In the first case, Castle Rock v. Gonzales [case backgrounder from Duke Law School], 04-278, the Court will review the 10th Circuit's decision to allow a procedural due process claim to proceed against a local government that allegedly failed to protect the holder of a partial restraining order against violence. The ABA has merit briefs for the case. In the second case, Cutter v. Wilkinson [case backgrounder from Duke Law School], 03-9877, the Court will decide whether the Religious Land Use and Institutionalized Persons Act [text] violates the Establishment Clause. The ABA has merit briefs filed in the case.
European Commission President José Manuel Barroso will provide a briefing on the European Council [official website] meeting scheduled for Tuesday and Wednesday. Watch a live webcast of the briefing beginning at 3 PM local time [9 AM ET].
At the UN, the General Assembly [official website] will hear a report by Secretary-General Kofi Annan in a follow-up to the outcome of the Millenium Summit. Watch a live webcast of the session beginning at 10 AM ET and Annan's speech beginning at 10:30 AM ET.
The 61st session of the UN Commission on Human Rights [official website] continues in Geneva today.
At the International Tribunal for the Former Yugoslavia, Johan Tarculovski [initial indictment] will make an initial appearance before the tribunal at 8:30 AM local time [2:30 AM ET]. The Naser Oric [ICTY case backgrounder] trial will continue at 9:30 AM local time [3:30 AM ET]. The trial of Fatmir Limaj and others [ICTY case backgrounder] will continue at 2:45 PM local time [8:45 AM ET]. Watch a webcast of all proceedings.


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