With the Port Authority of New York/New Jersey's plans to host more big cruise ships at its Bayonne facility, Connecticut residents will be just a short drive away from luxury cruises to exotic locations. That is, of course, if the prospective vacationers can get past the cruise industry's reputation for underplaying the number of crimes and suspicious mishaps that occur aboard their floating hotels.
Shareholders led by Connecticut retirement plans and other pension fund organizations unsuccessfully attempted to have the head of JPMorgan removed. Less than one-third of the voters actually supported the measure to have the Chief Executive Officer (CEO) stripped of a great deal of his authority.
A Connecticut inventor has filed a claim in U.S. District Court in an effort to collect royalties that were claimed to have been owed to him. This individual states that he designed what is called the Laser sailboat, and that he was owed more than $200,000 plus interest concerning licensing agreements he had established with various Laser manufacturers back in 2011.
An intellectual property lawsuit tried in federal court in Connecticut resulted in the award of $176.5 million for one of the parties. It was ruled that a device marketed and sold by Johnson & Johnson infringed upon a patent owned by an Irish company named Covidien.
Connecticut-based Stanley Black & Decker has found itself involved in an intellectual property dispute that could prevent the company from distributing or selling certain screw drivers and other devices in the United States. The patent infringement lawsuit was filed by STMicroelectronics (STM) with the U.S. International Trade Commission against a company called InvenSense Inc (IVN).
The U.S. Supreme Court has just ruled upon the Amgen v. Connecticut Retirement Plans and Trust Funds case. The securities-fraud case was brought by shareholders that alleged Amgen misled them concerning the dangers of particular drugs that it manufactured. Amgen claims that this information was already well known.
Shareholder derivative suits are often filed when certain investors in a company feel that decisions made by officers or executives will ultimately be detrimental to the firm. Such a lawsuit was recently filed by shareholders for Dell, Inc., a personal computer manufacturer, with regards to a proposed buyout by the founder of the company.
The United States Federal Trade Commission (FTC) has recently dropped its lawsuit against Google regarding supposed antitrust practices in the design of its search engines. Google has been accused of promoting its own products over competitors when it comes to search engine results.
When security fraud is alleged, the fines assessed by federal agencies can be colossal. In the case of UBS, the Swiss banking company with branches in Connecticut, its Japanese subsidiary paid close to $1.5 billion in penalties concerning alleged felony wire fraud.
In 1789, Congress passed a law called the Alien Tort Statute. The law basically said that district courts have jurisdiction over tort litigation brought by non-citizens that involved laws of other nations or treaties involving the U.S. and other nations. The ATS was barely used for about 200 years.