First a quick word about Fabrice (Fabulous Fab) Tourre, the former Goldman Sachs trader, who was found liable of helping his former bosses at Goldman put together a rigged mortgage deal.
There is a vague possibility that we could be found liable of contributory infringement, our attorney says.
Ex-Goldman trader, Fabrice Tourre, aka "Fabulous fab," was found liable of misleading investors on a toxic mortgage deal created by Goldman in the lead up to the financial crisis.
Their lawyer at the firm, Shanta Martin, said: "This is the first time a British company has been found liable for victims of trafficking and it is going to make a world of difference to our clients.
The ruling, by the United States Court of Appeals for the First Circuit, effectively nullified a two-year-old decision in which the reporter, Susan Antilla, had been found liable for invasion of privacy.
A British company has been found liable for the first time for victims of modern slavery in a landmark high court judgment.
Updated, 9 20 p.m. | Bank of America, one of the nation's largest banks, was found liable on Wednesday of having sold defective mortgages, a jury decision that will be seen as a victory for the government in its aggressive effort to hold banks accountable for their role in the housing crisis.
He was found liable on six counts of civil securities fraud.
The Bush administration entered the case, Meyer v. Holley, No. 01-1120, to argue that although the Ninth Circuit's analysis was incorrect, the suit should be allowed to proceed against Mr. Meyer because it appeared that as the sole stockholder, he functioned as the company's alter ego and could properly be found liable on that basis under ordinary principles of corporate law.
A senior BP executive said Monday that while his company was ultimately the responsible party, the actual drilling and cementing were done by Transocean and Halliburton, which could be found liable for some of the billions of dollars in cleanup and damage costs.
