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Securities Fraud

The Importance of Evidence in the “Black Box” For Truck Accident Litigation

Often in truck accidents there is a lot of conflicting testimony between the truck driver’s version of events and that of the injured person regarding such important issues as speed, acceleration and braking. Some of this conflict may come from a bias of protecting one’s own interests, but in addition these accidents often happen so quickly, and so many things happen in quick succession that it can be difficult to accurately remember or even notice all relevant pieces of information. That is where a heavy truck’s Event Data Recorder (known in the industry as an “EDR”), and often commonly referred to...

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Will The Dodd-Frank Wall Street Reform Act Make FINRA Arbitration Obsolete?

The Dodd-Frank Wall Street Reform Act shows a congressional dislike for mandatory arbitration provisions, to say the least. This Act, which was signed into law on July 21, 2010, by President Barack Obama, contains many provisions which could lead, after study, to the prohibition or limitation on these boilerplate clauses in consumer contracts. This includes arbitration provisions in client agreements with broker dealers that cause many securities fraud causes of action to be arbitrated at FINRA at this time. Widespread Prevalence of These Arbitration Clauses Statistically, just about everyone in the United States has knowingly, or unknowingly, agreed to a boilerplate mandatory...

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New FMCSA Trucking Policies Deemed Successful by Independent Study

New policies implemented in 2010 by the Federal Motor Carrier Safety Administration (FMCSA) appear to be working in reducing the number of truck collisions. Findings from an independent review, by the University of Michigan Transportation Research Institute (UMTRI), show the partnership in communication between the FMCSA, its state partners, and commercial motor carriers reduced crashes, injuries, and fatalities. Previous commerical carrier policies were shouldered by a small number of staff that evaluated and determined carrier safety. The new policy system partners with the states, giving them better access to FMCSA's data. This shared communication results in successfully targeting high-risk carriers regarding...

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What Is Subprime Securities Fraud?

With the 2007 subprime crisis in this country, and its subsequent fall out with the entire economy, which we are still feeling the effects of today, we have heard the term “subprime securities fraud” bandied about over and over in the news and elsewhere. If you have some confusion about what this term means, here is a primer for you. Let me caution you, however, that there are hardly ever any hard and fast definitions when it comes to the law, and discussing securities fraud law is no exception. Therefore, this information is only provided for informational purposes, to help you...

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Can An Out-Of-State Lawyer Participate In Indiana FINRA Actions?

All states have laws about the unauthorized practice of law, including Indiana. These laws prevent those without a law license issued from the state of Indiana from representing individuals legal matters in this state, with some exceptions allowed for temporary admission for those with out of state licenses based on certain guidelines. However, with the rise of alternative dispute resolution, including arbitration with the Financial Industry Regulatory Authority (FINRA), many people have questioned whether out of state investment fraud lawyers can participate in these actions held in Indiana, or whether that would be considered the unauthorized practice of law. FINRA itself...

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Indiana’s New Class Action Rule Helps Low Income Hoosiers

In late September 2010 the Indiana Supreme Court announced an amendment to Indiana Trial Rule 23, concerning class actions, which goes into effect on January 1, 2011. This amendment added a new subsection (F) concerning the disposition of residual funds from the class action award or settlement, and the most interesting thing about it is that it mandates that a minimum of 25% of those funds go towards funding for pro bono legal assistance for low income Hoosiers. Residual funds can be quite common in class actions, especially consumer class actions, with large classes of people, each of whom has suffered...

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