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GameStop soars again; Wall Street bends under the pressure
Attorney Blog News |
2021/01/27 22:36
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GameStop’s stock is back to the races Friday, and the overall U.S. market is down again, as the saga that’s captivated and confused Wall Street ramps up the drama.
GameStop shot up more than 70% in midday trading, clawing back most of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again. GameStop has been on a stupefying 1,900% run over the last three weeks and has become the battleground where swarms of smaller investors see themselves making an epic stand against the 1%.
The assault is directed squarely at hedge funds and other Wall Street titans that had bet the struggling video game retailer’s stock would fall. A couple have already essentially admitted defeat, with one saying Friday it would stop publishing reports on stocks it expects to fall. The army of smaller and novice investors, meanwhile, is pledging to keep up the momentum for GameStop’s stock in hopes of inflicting more pain on the financial elite.
The moves are reverberating across Wall Street, as concerns rise about how much damage the frenzy could do as its effects spill out into the broader market. The big professional investors who had been banking on a drop for GameStop’s stock are taking sharp losses. Investors say that’s pushing them to sell other stocks they own to raise cash, and that is helping to pull down parts of the market completely unrelated to the revolt by Main Street investors. |
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Woman accused of helping steal Pelosi laptop freed from jail
Attorney Blog News |
2021/01/21 10:29
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A Pennsylvania woman facing charges that she helped steal a laptop from the office of House Speaker Nancy Pelosi during the attack on the U.S. Capitol will be released from jail, a federal judge decided Thursday.
U.S. Magistrate Judge Martin Carlson directed that Riley June Williams be released into the custody of her mother, with travel restrictions, and instructed her to appear Monday in federal court in Washington to continue her case.
“The gravity of these offenses is great,” Carlson told Williams. “It cannot be overstated.”
Williams, 22, of Harrisburg, is accused of theft, obstruction and trespassing, as well as violent entry and disorderly conduct on Capitol grounds. Carlson noted Williams has no prior criminal record.
The FBI says an unidentified former romantic partner of Williams tipped them off that she appeared in video from the Jan. 6 rioting and the tipster claimed she had hoped to sell the computer to Russian intelligence.
Williams’ defense lawyer, Lori Ulrich, told Carlson the tipster is a former boyfriend who had been abusive to Williams and that “his accusations are overstated.”
Video from the riot shows a woman matching Williams’ description exhorting invaders to go “upstairs, upstairs, upstairs” during the attack, which briefly disrupted certification of President Joe Biden’s electoral victory.
“It is regrettable that Ms. Williams took the president’s bait and went inside the Capitol,” Ulrich told the judge.
Williams surrendered to face charges on Monday. She was expected to leave the county jail in Harrisburg later Thursday, and will be on electronic monitoring to await trial.
Heavican said the court’s online payment systems allowed residents to pay traffic tickets and court fines without leaving their homes, and the judiciary also offered an online education system to help judges, lawyers, guardians and others meet continuous education requirements.
New attorneys were sworn into office via online ceremonies across the state, Heavican said. In Dawson County, one judge is broadcasting court proceedings on YouTube.
Heavican said schools and private organizations have hosted trials in counties whose courthouses are too small for adequate social distancing to prevent transmission of the coronavirus. He said jury trials were held at the University of Nebraska-Kearney, Grand Island Central Community College and local K-12 schools and the Lincoln Masonic Lodge.
Heavican also touted the benefits of probation services and problem-solving courts. He said probation costs nearly $2,000 per person, per year, and problem-solving courts costs about $4,000, compared to $41,000 for a person in prison. “Do the math,” he said. “Probation is the taxpayers’ friend.” |
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India's top court suspends implementation of new farm laws
Attorney Blog News |
2021/01/14 20:09
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India’s top court on Tuesday temporarily put on hold the implementation of agricultural reform laws and ordered the creation of an independent committee of experts to negotiate with farmers who have been protesting against the legislation.
The Supreme Court's ruling came a day after it heard petitions filed by the farmers challenging the legislation. It said the laws were passed without enough consultation, and that it was disappointed with the way talks were proceeding between representatives of the government and farmers.
Tens of thousands of farmers protesting against the legislation have been blocking half a dozen major highways on the outskirts of New Delhi for more than 45 days. Farmers say they won’t leave until the government repeals the laws.
They say the legislation passed by Parliament in September will lead to the cartelization and commercialization of agriculture, make farmers vulnerable to corporate greed and devastate their earnings. The government insists the laws will benefit farmers and enable them to market their produce and boost production through private investment. Chief Justice Sharad Arvind Bobde said the independent committee of four experts would “amicably resolve” the standoff between the farmers and the government.
The court, however, did not provide details as to how it selected the committee experts.
Farmer unions rejected the idea of an expert committee and said all four members have publicly favored the contentious legislation. They reiterated their demand for the total repeal of the laws. A key union said the court’s decision to suspend the implementation of the legislation was welcome but “not a solution.” “The government must withdraw. It must understand that farmers and people of India are opposed to the laws,” the All India Kisan Sangharsh Coordination Committee said.
During a virtual hearing on Monday, Bobde said the impasse was causing distress to farmers and the situation at the protest sites was only getting worse. “Each one of us will be responsible if anything goes wrong,” Bobde told India's attorney general, K.K. Venugopal, who was arguing for the government. The two sides have failed to make progress in multiple rounds of talks over the farmers’ main demand that the laws be scrapped. The government has ruled out withdrawing the laws, but says it could make some amendments. |
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Republicans face court setbacks, Trump law firm steps down
Attorney Blog News |
2020/11/12 00:38
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Republicans suffered setbacks to court challenges over the presidential election in three battleground states on Friday while a law firm that came under fire for its work for President Donald Trump’s campaign withdrew from a major Pennsylvania case.
The legal blows began when a federal appeals court rejected an effort to block about 9,300 mail-in ballots that arrived after Election Day in Pennsylvania. The judges noted the “vast disruption” and “unprecedented challenges” facing the nation during the COVID-19 pandemic as they upheld the three-day extension.
Chief U.S. Circuit Judge D. Brooks Smith said the panel kept in mind “a proposition indisputable in our democratic process: that the lawfully cast vote of every citizen must count.”
The ruling involves a Pennsylvania Supreme Court decision to accept mail-in ballots through Friday, Nov. 6, citing the pandemic and concerns about postal service delays.
Republicans have also asked the U.S. Supreme Court to review the issue. However, there are not enough late-arriving ballots to change the results in Pennsylvania, given President-elect Joe Biden’s lead. The Democratic former vice president won the state by about 60,000 votes out of about 6.8 million cast.
The Trump campaign or Republican surrogates have filed more than 15 legal challenges in Pennsylvania as they seek to reclaim the state’s 20 electoral votes, but have so far offered no evidence of any widespread voter fraud.
A Philadelphia judge found none as he refused late Friday to reject about 8,300 mail-in ballots there. The campaign has pursued similar litigation in other battleground states, with little to show for it.
In Michigan, a judge Friday refused to stop the certification of Detroit-area election results, rejecting claims the city had committed fraud and tainted the count with its handling of absentee ballots. It’s the third time a judge has declined to intervene in a statewide count that shows Biden up by more than 140,000 votes.
And, in Arizona, a judge dismissed a Trump campaign lawsuit seeking the inspection of ballots in metro Phoenix after the campaign’s lawyers acknowledged the small number of ballots at issue wouldn’t change the outcome of how the state voted for president.
The campaign had sought a postponement of Maricopa County’s certification of election results until ballots containing overvotes ? instances in which people voted for more candidates than permitted ? were inspected.
Meanwhile, legal giant Porter Wright Morris & Arthur, which had come under fire for its work for the Trump campaign, withdrew from a lawsuit that seeks to stop Pennsylvania officials from certifying the election results. |
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Saudi court issues final verdicts in Khashoggi killing
Attorney Blog News |
2020/09/07 09:38
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A Saudi court issued final verdicts on Monday in the case of slain Washington Post columnist and Saudi critic Jamal Khashoggi after his son, who still resides in the kingdom, announced pardons that spared five of the convicted individuals from execution.
While the trial draws to its conclusion in Saudi Arabia, the case continues to cast a shadow over the international standing of Crown Prince Mohammed bin Salman, whose associates have been sanctioned by the U.S. and the U.K. for their alleged involvement in the brutal killing, which took place inside the Saudi Consulate in Istanbul.
The Riyadh Criminal Court’s final verdicts were announced by Saudi Arabia’s state television, which aired few details about the eight Saudi nationals and did not name them. The court ordered a maximum sentence of 20 years in prison for the five. Another individual received a 10-year sentence, and two others were ordered to serve seven years in prison.
A team of 15 Saudi agents had flown to Turkey to meet Khashoggi inside the consulate for his appointment on Oct. 2, 2018 to pick up documents that would allow him to marry his Turkish fiance, who waited outside. The team included a forensic doctor, intelligence and security officers, and individuals who worked directly for the crown prince’s office, according to Agnes Callamard, who investigated the killing for the United Nations.
Turkish officials allege Khashoggi was killed and then dismembered with a bone saw inside the consulate. His body has not been found. Turkey apparently had the consulate bugged and shared audio of the killing with the C.I.A., among others.
Western intelligence agencies, as well as the U.S. Congress, have said the crown prince bears ultimate responsibility for the killing and that an operation of this magnitude could not have happened without his knowledge.
The 35-year-old prince denies any knowledge of the operation and has condemned the killing. He continues to have the support of his father, King Salman, and remains popular among Saudi youth at home. He also maintains the support of President Donald Trump, who has defended U.S.-Saudi ties in the face of the international outcry over the slaying.
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