Broker suspended by FINRA for tweets

July 21, 2011

A California-based broker was recently suspended by FINRA for a series of tweets she posted on the social networking website, Twitter.  FINRA has previously had to suspend some financiers for posts and pictures on Facebook and even created a special social networking task force. According to FINRA’s quarterly disciplinary report, the broker is being fined…

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California banks dispute over hacker infiltration

July 19, 2011

California banks Village View Escrow Inc. and Professional Business Bank are in the middle of a dispute concerning a hacker infiltration. Village View Escrow filed suit against Professional Business Bank claiming the bank is liable for the losses they incurred because of the infiltration.Hackers were able to access Professional Business Bank’s online bank account and…

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Judge rejects most shareholder claims against Toyota

July 13, 2011

This week, a judge in Los Angeles dismissed 26 out of 33 shareholder claims made against Japan-based Toyota. The shareholders filed claims against the car manufacturer for economic loss caused by their vehicles’ sudden acceleration problems. Toyota’s sudden acceleration defect caused a 20 percent decrease in the company’s shares in January 2010 and February 2010.…

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CA Supreme Court rules nonresidents should be paid overtime

July 11, 2011

Last month, the California Supreme Court ruled against Oracle in a lawsuit involving overtime pay paid to nonresident workers.  With the ruling, the Supreme Court declares that all nonresident workers in California are entitled to overtime pay from businesses in the state. The ruling came out of a class-action overtime pay lawsuit filed against Oracle.…

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Target settles Orange County discrimination suit

July 8, 2011

Wednesday, Target Corp. settled a disability discrimination lawsuit filed by the Equal Employment Opportunity Commission. The lawsuit was filed in 2009 on behalf of a man who worked as a cart attendant at a Target store in Orange County.  According to the lawsuit, the company reduced the man’s hours after he returned from a period…

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3 severely injured in I-45 accident

July 5, 2011

According to the California Highway Patrol, 3 people were injured in an accident in the northbound lanes of Interstate 45.  The accident occurred last month at 12:31 p.m. on Monday, June 20. Police reports indicate that the accident happened at little south of Laguna Canyon Road when a vehicle veered off the highway.  Investigators are…

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CalPERS and CVS Caremark sign contract

June 30, 2011

Last week, the California Public Employees’ Retirement System and CVS Caremark signed a contract that will provide benefits on prescription drugs to 3646,000 CalPERS members.  The 3 year contract will cost CalPERS $575 million a year. After the federal government, CalPERS is the nation’s largest buyer of heathcare benefits.  Before deciding to write a contract…

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Real estate agent suspected of fraud for selling foreclosed home

June 27, 2011

A San Diego couple recently reported that their real estate agent was fraudulent in selling them a home that was foreclosed and not telling them.  The man claims that his real estate agent, a Filipina woman, did not inform him or his wife that the home they were buying in 2008 was foreclosed. Furthermore, the…

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Prologis, Inc. announces public offering

June 22, 2011

Today, Prologis, Inc., developer, owner, and operator of industrial real estate in America, Europe, and Asia, announced that they will be going public by offering 30 million shares of common stock. The registered public offering will have Bank of America Merrill Lynch and J.P. Morgan as joint bookrunners.  Underwriters in the public offering will be…

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