Westlaw Journal weekly round-up

December 12, 2012

Westlaw Journals Weekly RoundupThe new Westlaw Journals blog brings you litigation headlines in over 30 substantive areas of law.  Here are some highlights from the past week:

MoneyGram must pay $100 million to victims of fraud schemeGlobal money services business MoneyGram has admitted to money laundering and wire fraud charges and agreed to forfeit $100 million under a deferred prosecution agreement with the Justice Department.  “MoneyGram’s broken corporate culture led the company to privilege profits over everything else,” Assistant Attorney General Lanny A. Breuer  of the Justice Department said in a news release.  “MoneyGram knowingly turned a blind eye to scam artists and money launderers who used the company to perpetrate fraudulent schemes targeting the elderly and other vulnerable victims.”  (Bank & Lender Liability)

QVC wins $1.7 million in space heater recall dispute:  A federal judge in Philadelphia has awarded home shopping retailer QVC $1.7 million for losses it incurred when 19,000 electric space heaters it sold had to be recalled over a manufacturing defect.  U.S. District Judge Thomas O’Neill of the Eastern District of Pennsylvania found that defendant MJC America Ltd. breached the terms of a contract to supply QVC with defect-free heaters.  He also held that the retailer was within its rights in launching a May 2008 recall after receiving numerous customer reports that the heater was smoking, sparking and emitting “noxious odors.”  (Products Liability)

Can challenge to BofA’s subprime rescue of Countrywide live again?:  A federal appeals court in California has said it may ask the Delaware Supreme Court for advice on the thorny question of whether a shareholder challenge to Bank of America’s subprime rescue merger with Countrywide Financial Corp. should be revived.  (Corporate Officers & Directors)