You Have Rights Blog
New Mortgage Bailout Plan Shows Importance of Speaking With a Loan-Modification Attorney
Tuesday, October 07, 2008
Bank of America announced this week that nearly 400,000 homeowners across the United States may be able to modify their current risky mortgages and lower their monthly payments under a multi-billion-dollar plan designed to assist former Countrywide Financial borrowers. Under the mortgage bailout plan, borrowers who took out sub-prime and adjustable-rate mortgages with Countrywide between 2004 and 2007 would qualify for restructuring relief. Bank of America, which purchased Countrywide in July 2008, estimates the deal could result in as much as $8.7 billion in savings for homeowners, many of whom are well behind on their mortgage payments and in danger…
Troubles At Lehman Brothers, Washington Mutual Further Rattle Wall Street
Friday, September 12, 2008
Turbulence in the American and global investment banking industries became increasingly shaky this week as another Wall Street giant, Lehman Brothers, teetered on the verge of collapse. As one of the nation's largest and oldest investment banks scrambles to avert financial disaster by finding a suitable buyer before time runs out, Wall Street and investors across the world nervously await good news. Rumors of a possible "white-knight" takeover by suitors including Bank of America and British bank Barclays are providing a glimmer of hope, but the future of the beleaguered firm and the fall out from such a move remain…
Non-Compete Clauses Violate Workers’ Rights, California Supreme Court Rules
Monday, August 11, 2008
California employers cannot prevent their management-level workers from jumping ship to a competing firm or leaving to start their own businesses, the state’s Supreme Court has ruled. Non-compete clauses, which may be written into employment contracts, violate a former employee’s right to be free to work where and for whom they want and discourage competition in the workforce, the court said in a unanimous ruling issued August 6. The court was interpreting a state law that had been on the state’s books since 1872. The California high court noted that such employment restrictions may be legal in limited circumstances, such…
Mark & Associates, P.C. Files Arbitration on Behalf of Bear Stearns Shareholder
Thursday, May 08, 2008
Mark & Associates, P.C. announces that, along with its co-counsel, it has filed an arbitration request with the Financial Industry Regulation Authority "FINRA" (FINRA Dispute Number 08-01137) on behalf of a Bear Stearns shareholder which names The Bear Stearns Companies, Inc. (NYSE: BSC) and its Chief Executive Officer Alan Schwartz as respondents. The Claimant's Statement of Claim alleges that the Claimant suffered significant financial losses when Bear Stearns' stock precipitously declined, which was the result of the respondents breaching their fiduciary responsibility, omitting material facts, and issuing false and misleading statements. Mark & Associates, P.C. anticipates filing additional arbitrations in…
