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In The Marketplace
Injunction Sought Against Leasing Companies: The putative plaintiffs in the class action lawsuit brought against various telecommunications leasing companies who were assignees of leases and equipment rental agreements entered into between individuals and businesses and the telecommunications company Norvergence, Inc. have moved for a preliminary injunction against the lease assignees. The injunction seeks to enjoin the assignees from enforcing any equipment rental agreements assigned to them by Norvergence, or from commencing suit against Norvergence customers for payments under the leases. They are attempting to certify a nationwide class of those persons and entities who leased telecommunication and/or network computer equipment from Norvergence, which then assigned its leases to various leasing companies. The lawsuit alleges that the leases violated various state and federal statutes including the Consumer Fraud Act, the FTC Holder Rule, the Truth-in-Consumer Contracts, Warranty & Notice Act, and that the leases constitute breaches of contract, and breaches of implied and express warranty. The suit seeks cancellation of the leases, disgorgement of lease payments and a declaratory judgment concerning the unenforceability of the leases. It names approximately 26 lease financing companies as defendants.
Interim Rules Freeze Rates for Phone-Network Leasing: U.S. communications regulators have issued interim rules that would freeze for 6 months the wholesale rates for leasing access to the major U.S. local telephone networks. The Federal Communications Commission had required the four major local telephone carriers to lease network access to rivals at government-set rates in order to promote competition for local service, but an appeals court in March threw out the rules. The FCC has been trying to draft new regulations and in the interim ordered the Bells to keep the rates at the current prices while final rules were hashed out. The Bells had argued that the prices set were below cost. The agency voted 3-2 for the new rules in July, but the details were not released until August 20.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.