Silicon Valley Bancshares, the parent of Silicon Valley Bank, raised its third-quarter profit forecast yesterday, citing a settlement of entertainment-lending litigation and rising deposits.
McGinniss's ordeal by litigation gave rise to one of the great works of journalism about journalism — Janet Malcolm's "The Journalist and the Murderer," which first appeared as a two-part article in The New Yorker, in 1989.
During his illustrious 35-year career in litigation, he rose to managing partner of the law firm Cummings and Lockwood, Stamford, CT, and argued cases in courts from the Connecticut Supreme Court to the United States Supreme Court as well as in federal courts in many states.
For instance, Beverly Enterprises, which also had a history of regulatory problems, sold Habana and the rest of its Florida centers to Formation because, it said at the time, of rising litigation costs.
One study estimates that the volume of litigation in Australia rose 16.5% as a result of this practice alone.
This was examined in depth by two law professors, Robert Thompson and Randall Thomas, who argued that the rise in lawsuits is actually more a rise in litigation in multiple jurisdictions.
In this case, the rise in litigation is actually about fee-shifting among plaintiffs.
In 2005, 38.7 percent of takeover deals experienced litigation, a figure that rose to 84.7 percent in 2010.
After R.I.M. settled the litigation, its share price rose sharply above the buyback price.
