The judge overseeing the liquidation of Bernard Madoff’s defunct business did not issue a ruling Tuesday after hearing arguments from victims who say that years’ worth of fake profit from the fraud should be included in their claims for repayment. ...
Read More »Madoff liquidator Picard wins $22 million in fees
Irving Picard, the liquidator of the remains of Bernard Madoff’s defunct investment firm, won court approval to collect $22 million in fees for five months of work by him and his law firm. The fees, which cover work by Picard ...
Tagged with: Baker & Hostetler Bernard Madoff fees Irving Picard
Read More »‘Hope’ artist says AP also uses artwork images
Shepard Fairey, the artist whose “Hope” election poster of Barack Obama hangs in the National Portrait Gallery, told a New York judge that the Associated Press licenses images of artists’ work without permission. The claim was made during AP’s copyright-infringement ...
Tagged with: AP Barack Obama copyright law
Read More »SEC seeks dismissal of Madoff victims’ negligence suit
The U.S. Securities and Exchange Commission asked a judge to throw out a suit by two of Bernard Madoff’s victims who accused the agency of negligently failing to uncover a scheme that wiped out at least $19 billion. The agency ...
Tagged with: Bernard Madoff Securities and Exchange Commission
Read More »AT&T drops lawsuit to stop Verizon ads
AT&T Inc., the largest U.S. phone company, agreed to drop its lawsuit to stop a Verizon Wireless advertising campaign that AT&T said unfairly depicts its mobile-phone network coverage. AT&T filed a notice of dismissal Wednesday in federal court in Atlanta, ...
Tagged with: advertising AT&T Verizon
Read More »Taco Bell, rapper 50 Cent end menu-promotion lawsuit
Yum! Brands Inc.’s Taco Bell fast-food chain settled a lawsuit by hip-hop artist 50 Cent that accused it of using his persona and trademark without permission to promote a new “value” menu. The company’s confidential deal with the rapper, whose ...
Tagged with: 50 Cent Taco Bell trademark
Read More »Wachovia will pay $45 million to end Okun fraud suits
Wachovia Corp. agreed to pay $45 million to settle lawsuits related to its work for the tax-deferral firm 1031 Tax Group LLC, whose customers were defrauded of more than $126 million by imprisoned founder Edward Okun. The accord was disclosed ...
Tagged with: Edward Okun Wachovia
Read More »Madoff trustee’s $14.7 million fee request approved
The trustee liquidating Bernard Madoff’s investment company won court approval of a $14.7 million bill for four months’ work by his law firm, overcoming challenges from victims. The payment to trustee Irving Picard and his firm, Baker & Hostetler LLP, ...
Tagged with: Bernard Madoff
Read More »Con man Okun gets 100 years for fraud scheme
Edward Okun, the Miami businessman convicted of stealing from customers of his tax-deferral firm, 1031 Tax Group, was sentenced to 100 years in prison for running a $126 million fraud scheme. U.S. District Judge Robert Payne handed down the sentence ...
Tagged with: 1031 Tax Group Bernard Madoff Edward Okun fraud Marc Dreier
Read More »Woody Allen settles lawsuit over American Apparel ad
Woody Allen agreed to accept $5 million from American Apparel Inc. to end a lawsuit accusing the clothing retailer of using the actor and director’s image on billboard advertisements without permission two years ago. Allen, 73, had sought twice that ...
Tagged with: American Apparel Inc. fair use trademark infringement Woody Allen
Read More »American Apparel questions Woody Allen damages claim
American Apparel Inc., the retailer sued by director Woody Allen for using his image on billboards without permission, told a judge the Academy Award winner’s reputation is too tarnished to warrant $10 million in damages. The clothing maker called Allen’s ...
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