Daily Update from Securities Docket |
- Securities Docket A.M. News Wire for June 29, 2010
- Pendergest-Holt’s Motion to Sever Trial from Stanford ‘Circus’ Granted
- NAB Holding May Impact Hedge Funds’ US Case Against Porsche
Securities Docket A.M. News Wire for June 29, 2010 Posted: 29 Jun 2010 03:55 AM PDT
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Pendergest-Holt’s Motion to Sever Trial from Stanford ‘Circus’ Granted Posted: 28 Jun 2010 12:55 PM PDT Former Stanford Financial Group Chief Investment Officer Laura Pendergest-Holt asked the court on June 9 to sever her trial from the “circus” of Allen Stanford, and on Wednesday of last week she got her wish. The Texas Lawyer reports that Senior U.S. District Judge David Hittner of Houston granted Pendergest-Holt’’s motion to sever her trial. She had argued that Stanford and his “latest collection of lawyers [the Bennett-Nguyen Joint Venture]” have prejudiced her right to a fair trial with their “egregious and circus-like conduct.” Texas Lawyer: Judge Grants Pendergest-Holt’s Motion to Sever in Allen Stanford Case |
NAB Holding May Impact Hedge Funds’ US Case Against Porsche Posted: 28 Jun 2010 12:31 PM PDT The ramifications of the US Supreme Court’s ruling last week in the National Australia Bank case are beginning to appear in other cases. On Friday, Vivendi hailed the ruling, stating that it was was "totally in line with the position defended all along by the group in the American and French courts." Vivendi is trying to exclude French shareholders from a U.S.-based class action lawsuit against it on whether it misled investors about its financial health. Also on Friday, the FT reported that the NAB case may jeopardize a hedge fund lawsuit brought in the US against Porsche claiming more than $2 billion in damages. FT reports that 35 funds are accusing Porsche and its former executives of market manipulation and fraud during their four-year takeover attempt of VW. "The NAB case smelt of Australia, we question whether the Porsche case smelt of Germany," said Arndt Ellinghorst, head of automotive research at Credit Suisse. |
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Daily Update from Securities Docket Part 1
Daily Update from Securities Docket Part 1
Daily Update from Securities Docket Part 1
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