http://contract.law360.com/ The Newswire for Legal Professionals Copyright 2010 Portfolio Media, Inc. en-US http://contract.law360.com/images/headings/logo.gif http://contract.law360.com/ http://contract.law360.com/articles/156653 Pharmacy chain Duane Reade Inc. has denied owing Kasowitz Benson Torres & Friedman LLP a $7.1 million success fee in connection with a $40 million contract suit settlement, and said that the contingency fee agreement the law firm accused it of breaking cannot stand under New York law. http://contract.law360.com/articles/156653 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156731 Asarco LLC has accused Sterlite Inc. of violating a May 2008 purchase and sale agreement when it aborted a bid to buy the then-bankrupt mining company for $2.6 billion and to assume millions of dollars in its contractual obligations and liabilities. http://contract.law360.com/articles/156731 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156497 Five Star Development Resort Communities LLC has won its bid for a preliminary injunction to protect it from a declaration of default on a $112 million development loan agreement for a Ritz Carlton hotel project in Arizona. http://contract.law360.com/articles/156497 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156584 A federal judge has ruled that consumers accusing Payday Loan Store of Illinois Inc. of violating the Truth in Lending Act must arbitrate their claims under a contract with the loan provider and cannot pursue a class action. http://contract.law360.com/articles/156584 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156603 A state appellate court has reversed a ruling of summary judgment against a Pierce County, Wash., man who accused Farmers Insurance Company of Washington of breach of contract and bad faith in a class action after the insurer failed to pay him for the diminished value of his damaged car. http://contract.law360.com/articles/156603 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156521 Mosaid Technologies Inc. has fired off a breach of contract suit against LSI Corp. and Agere Systems Inc., claiming they have violated a 2007 patent assignment agreement over wireless technology. http://contract.law360.com/articles/156521 Fri, 19 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156311 Banking industry technology provider Metavante Corp. has reached a settlement with a derivative arm of Lehman Brothers Holdings Inc. in a dispute over a swap contract, following Metavante’s appeal of a finding that it owed more than $6.6 million under the deal. http://contract.law360.com/articles/156311 Thu, 18 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156181 Geico has been slapped with a putative class action that accuses the company of violating insurance contracts by refusing to inspect the damaged vehicles of policyholders for diminished value following accidents caused by uninsured motorists. http://contract.law360.com/articles/156181 Thu, 18 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156212 Seagate Technology LLC and National Union Fire Insurance Company of Pittsburgh have settled the insurer's arbitration action related to its obligation to reimburse Seagate for $9 million in patent litigation costs, a move that comes as the parties near a resolution in Seagate's underlying coverage suit. http://contract.law360.com/articles/156212 Thu, 18 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156350 Business software leader SAS Institute Inc. has sued its former counsel at Akin Gump Strauss Hauer & Feld LLP for breach of contract and fraud, accusing the firm of making preparations to sue SAS for patent infringement while the software maker was still a client. http://contract.law360.com/articles/156350 Thu, 18 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155896 A special master has dealt a blow to HRD Corp. in Dow Chemical Co.'s breach of contract suit over a failed joint business venture, rejecting HRD's bid to introduce nine Dow patent applications into evidence. http://contract.law360.com/articles/155896 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155993 A Dutch pension fund has won a judgment of more than $18 million in its breach of contract and unjust enrichment lawsuit against California-based real estate developer Dunmore Capital LLC, which did not show up in court to defend itself. http://contract.law360.com/articles/155993 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155899 Following a settlement, Asahi Kasei Pharma Corp. has dropped a suit to enforce a $91 million arbitration award against Cotherix Inc. over a drug licensing deal that went south in the wake of a Cotherix merger. http://contract.law360.com/articles/155899 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/156023 A Pennsylvania judge has agreed to transfer Cozen O'Connor's suit against a former partner over an allegedly unpaid loan to a New York court in order to better convenience the attorney, who currently works at a New York office of Hiscock & Barclay LLP. http://contract.law360.com/articles/156023 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155962 EMC Corp. has sued two former employees for allegedly using proprietary information to start a rival consulting company, an action EMC says violates an agreement the pair signed when it hired them and acquired their former business for more than $200 million. http://contract.law360.com/articles/155962 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155812 A federal judge has again thrown out state law claims for breach of contract and unfair competition in a putative class action that accuses Bank of America NA of not clearly disclosing that a teaser rate on option adjustable rate home mortgages would quickly expire. http://contract.law360.com/articles/155812 Wed, 17 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155795 State Street Bank and Trust Co. has filed an answer and counterclaims in a contract suit brought by FCCD Ltd., accusing the Irish financial services firm of unfairly seeking to “usurp” its rights in a battle over a troubled $65 million Mexico real estate development loan. http://contract.law360.com/articles/155795 Tue, 16 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155386 A federal judge has thrown out cross-motions to dismiss in U.S. Home Corp.'s contract dispute against Settlers Crossing LLP over a $134 million agreement to buy land for commercial real estate development that was never finalized. http://contract.law360.com/articles/155386 Tue, 16 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155464 Credit Suisse AG has sought to dismiss Sumitomo Mitsui Banking Corp.'s claims that it broke a contract by withholding SMBC’s $22 million share of Capmark Financial Group Inc.’s repayment on a $5.2 billion bridge loan extended by Credit Suisse and other lenders. http://contract.law360.com/articles/155464 Tue, 16 Mar 2010 00:00:00 -0500 http://contract.law360.com/articles/155788 A federal judge has declined to dismiss a contract suit brought by Ambac Assurance Corp. against a small California city's public utility authority, sustaining the bond insurer's attempt to recoup $4.5 million it was forced to pay Piper Jaffray Financial Products Inc. under the terms of a terminated swap agreement. http://contract.law360.com/articles/155788 Tue, 16 Mar 2010 00:00:00 -0500