Supreme Court won't hear Pimco market squeeze case
Legal News Center
The U.S. Supreme Court on Monday denied an appeal by Pacific Investment Management Co challenging class-action certification for a lawsuit alleging the world's largest bond fund manager tried to corner a market for U.S. Treasury note futures.
A U.S. appeals court in Chicago upheld a judge's ruling that certified as a class more than 1,000 investors who seek more than $600 million in damages.
Pimco, a Newport Beach, California-based unit of the German insurer Allianz SE appealed to the Supreme Court, but the justices turned down the appeal in a brief order without any comment.
The lawsuit accused Pimco of boosting its percentage stake in futures contracts on some 10-year Treasury notes to 42 percent from 12 percent over a two-week span in the spring of 2005. The relevant contracts traded on the Chicago Board of Trade.
In its appeal to the Supreme Court, Pimco argued that class-action status should not have been granted because some plaintiffs did not lose money and the class suffered from serious conflicts of interest that precluded certification.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.