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Court sides with NJ judges in pension dispute
Court Watch | 2012/07/25 20:58
New Jersey's Supreme Court dealt a partial defeat to one of Gov. Chris Christie's signature legislative accomplishments Tuesday when it ruled that the state's judges don't have to contribute more to their pensions and health benefits. A leading state lawmaker immediately said the battle over the matter would continue.

The narrow 3-2 decision sided with a legal challenge filed last year by a state Superior Court judge in Hudson County who argued that the law imposing the pension and health care benefits changes violated a part of the state constitution that set judges' salaries and said they cannot be reduced.

The justices noted in their ruling that without a corresponding salary increase, the increased contributions would eventually cost judges at least $17,000 annually in take-home pay, amounting to a pay cut of more than 10 percent.

Christie, a Republican, had worked with the Democratic-controlled Legislature to pass the law last year. It affects hundreds of thousands of government workers around the state in addition to between 400 and 500 sitting judges and justices.


Goldman agrees to settle mortgage debt class action
Court Issues | 2012/07/20 22:39
Goldman Sachs Group Inc has agreed to settle a class-action lawsuit with investors who claimed losses on $698 million of securities backed by risky mortgage loans issued by defunct subprime lender New Century Financial Corp.

Lawyers for the investors said in a letter filed in U.S. District Court in Manhattan on Tuesday that a proposed settlement had been reached. Terms were not immediately disclosed, though they are expected to be included in court papers filed by July 31.

Goldman is one of many banks accused by U.S. legislators and regulators of fueling the nation's housing and financial crisis by misleading investors about the quality of mortgage debt they sold.

A federal judge in February ordered Goldman to face the class-action lawsuit that accuses it of defrauding investors in GSAMP Trust 2006-S2, a $698 million offering of certificates backed by second-lien home loans.

The loans were made by New Century, a subprime mortgage specialist that went bankrupt in 2007.

The investors, led by the Public Employees' Retirement System of Mississippi, contend the offering documents contained materially untrue statements about the underwriting and appraisal standards used by California-based New Century, the mortgage originator. Goldman securitized and issued the certificates.


Class-action lawsuit filed against Mountain State
Legal Opinions | 2012/07/18 22:39
Three students are suing Mountain State University, former President Charles Polk and the Board of Trustees over the school's revoked accreditation, saying it renders their degrees worthless.

Dale Burger and his two children, Amanda and Jeff Burger, are seeking class-action status for their case, filed late Wednesday in Kanawha County Circuit Court.

Some 3,000 students were enrolled as of April, the lawsuit says. But the plaintiffs contend that the class should cover anyone who enrolled since July 10, 2008. That's when the school first learned it might be in trouble.

The lawsuit says Mountain State told students it was in sound shape when it knew otherwise.

A spokesman declined comment on the lawsuit Thursday.

The private Beckley-based school has campuses in West Virginia, Florida, North Carolina and Pennsylvania.

Mountain State is appealing the Higher Learning Commission's decision to withdraw general accreditation.


Pa. high court denies Orie Melvin request
Court Watch | 2012/07/18 22:36
A Pennsylvania state Supreme Court justice who is fighting political corruption charges has lost a request for her fellow justices to intervene in her criminal court case and require that an out-of-county judge preside over it.

The state Supreme Court issued the one-page order denying the request from suspended Justice Joan Orie Melvin on Tuesday. Melvin had sought to keep Allegheny County judges from hearing her case, complaining that one Allegheny County judge is married to a key prosecution witness, Lisa Sasinoski.

Melvin also had objected to a local district judge presiding over her preliminary hearing, saying the case may be too complex. Melvin asked her colleagues on the state Supreme Court to intervene after an Allegheny County judge denied her initial request.


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