High court won't hear appeal on mortgage ratings

Law Firm News

The Supreme Court won't hear an appeal from shareholders who claim the Standard & Poor's ratings firm made false statements about its ratings of risky mortgage investments that helped trigger the financial crisis.

The justices on Monday let stand a lower court ruling that threw out a lawsuit filed by the Boca Raton Firefighters & Police Pension Fund against S&P's parent company, McGraw-Hill.

A federal appeals court ruled 2-1 that statements about the integrity and credibility of S&P's credit ratings used routine, generic language that did not mislead investors.

The shareholders argued that false statements regarding a central aspect of the company's business were enough to violate federal securities laws.


Related listings

  • Ferguson panel recommends police, court reform, transparency

    Ferguson panel recommends police, court reform, transparency

    Law Firm News 09/14/2015

    A reform panel formed after the Ferguson police shooting of Michael Brown is recommending the consolidation of the metro area's police departments and municipal courts, a newspaper reported Monday. Gov. Jay Nixon and others have scheduled an afternoo...

  • Court: Lawsuit over Arkansas killing by cop may proceed

    Court: Lawsuit over Arkansas killing by cop may proceed

    Law Firm News 08/06/2015

    A federal appeals court said Thursday the family of a 67-year-old man shot to death after two off-duty police officers entered his Little Rock apartment without a warrant or an invitation can move forward with a lawsuit. Eugene Ellison died Dec. 9, 2...

  • Marijuana opponents using racketeering law to fight industry

    Marijuana opponents using racketeering law to fight industry

    Law Firm News 07/15/2015

    A federal law crafted to fight the mob is giving marijuana opponents a new strategy in their battle to stop the expanding industry: racketeering lawsuits. A Colorado pot shop recently closed after a Washington-based group opposed to legal marijuana s...

USCIS Issues Clarifying Guidance on NAFTA TN Status Eligibility for Economists

U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.

The North American Free Trade Agreement (NAFTA) TN nonimmigrant status allows qualified Canadian and Mexican citizens to temporarily enter the U.S. to engage in specific professional activities, including the occupation of economist. The agreement, however, does not define the term economist, resulting in inconsistent decisions on whether certain analysts and financial professionals qualify for TN status as economists.

TN nonimmigrant status is intended to allow a limited number of professionals and specialists to work temporarily in certain specifically identified occupations in the United States. This updated guidance provides USCIS officers with a specific definition of one such category – economists – allowing them to adjudicate applications in a way that complies with the intent of the agreement. This policy update clarifies that professional economists requesting TN status must engage primarily in activities consistent with the profession of an economist. Individuals who work primarily in other occupations related to the field of economics — such as financial analysts, marketing analysts, and market research analysts — are not eligible for classification as a TN economist.

Business News

Clayton, MO Federal Criminal Defense Attorney The Law Offices of John M. Lynch, LLC, provides strong representation for clients with federal criminal defense. >> read
DuPage IL worker's comp lawyers The law firm of Krol, Bongiorno & Given, Ltd. has been a leader in the field of workers’ compensation law in DuPage, Illinois. >> read