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Former UBS trader pleads not guilty in UK court
State Law Issues |
2012/01/30 13:18
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A former UBS trader arrested in London on charges of fraud linked with unauthorized trades that cost the Swiss bank more than $2bn pleaded not guilty Monday to the charges against him.
Kweku Adoboli, 31, pleaded not guilty to two counts of fraud and two of false accounting between 2008 and September 2011 at London's Southwark Crown Court.
The trader was arrested on Sept. 14 after on charges of committing fraud that cost the bank over $2 billion.
The incident pushed then-CEO Oswald Gruebel to resign and damaged the bank's efforts to clean up its image after being involved in a United States tax evasion investigation and sustaining huge losses on subprime mortgages during the financial crisis.
City watchdog the Financial Services Authority and its Swiss counterpart have launched an investigation into why UBS failed to spot allegedly fraudulent trading.
Adoboli's case was delayed last year after he replaced his former lawyers at Kingsley Napley law firm with a new team from Bark amp; Co., which specializes in fraud cases. McCreath set a provisional trial date for September 3 and remanded Adoboli in custody. He said he was willing to hear an application for bail. |
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Conviction and sentence upheld in Palin email case
Legal Information |
2012/01/30 13:18
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A federal appeals court panel has upheld the conviction and sentence of a University of Tennessee student in the hacking of Sarah Palin's email in 2008.
The three judge panel in a Monday decision affirmed the conviction of 24-year-old David Kernell. A Knoxville jury last April convicted Kernell of unauthorized access to a protected computer and destroying records to impede a federal investigation.
Kernell's attorney, Wade Davies, contended at trial that Kernell had no criminal intent and that guessing his way into the email account was a prank. Palin was governor of Alaska and John McCain's GOP running mate at the time.
Kernell was released in November after serving less than 11 months.
Davies said he will seek a review by the full U.S. 6th Circuit Court of Appeals. |
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Law Firm Brower Piven Announces Investigation
Law Firm News |
2012/01/30 13:17
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The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of The Pep Boys -- Manny, Moe amp; and other violations of state law by the board of directors of Pep Boys relating to the proposed acquisition of the company by The Gores Group. The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On January 30, 2012, Pep Boys announced that it had entered into a definitive merger agreement providing for Gores Group to acquire Pep Boys for $1 billion. Under the terms of the merger agreement, Pep Boys shareholders will receive $15.00 for each share of Pep Boys common stock held. However, according to Yahoo! Finance, at least one analyst has set a high price target of $17.00 per share.
If you currently own shares of Pep Boys and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years. |
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Iowa mom pleads not guilty in newborn twins' death
Legal Information |
2012/01/30 10:18
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A Huxley woman accused of killing her newborn twin daughters and hiding their bodies in the trunk of her car has pleaded not guilty.
Jackie Burkle is charged with two counts of first-degree murder. She is being held on $1 million bond.
Her attorney entered a written plea of not guilty on her behalf Monday morning in Story County District Court in Nevada.
Police found the infants' bodies in the trunk of Burkle's car on Jan. 7 after receiving a call to check on her.
Court records show Burkle appeared pregnant at work at a Huxley convenience store Jan. 5. She no longer looked pregnant two days later, prompting a co-worker to call police.
Police have not released a cause of death or why Burkle gave birth at home. |
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