Arizona Litigation Archives - Page 4 of 40

Radical Bunny Managers Lose 9th Circuit Appeal & Must Pay $3.7 Million Fraud Verdict

Azcentral.com: “A federal appeals court has rebuffed a bid by the four managers of a bankrupt Arizona company to escape paying a $3.7 million verdict for securities fraud. . . . The judges also called it ‘undisputed’ that all four knew they were committing fraud by lying to investors about the nature of what they were getting. . . . The Arizona Corporation Commission earlier this year ordered Tom Hirsch, Harish Shah, and Howard and Berta ‘Bunny’ Walder, along with an affiliated entity, to pay $189.8 million in restitution and more than $4.6 million in administrative penalties for defrauding investors.”

The lawsuit arises from $190 million in investments made by an Arizona company called Radical Bunny, LLC, into a failed company called Mortgages, Ltd.

Bottom Line: If you offer to sell or sell a security, you must comply with federal and state securities laws or a court will find you liable to repay the losses suffered by the investors. See an experienced securities lawyer before you offer or sell a security such as stock or membership interests in a limited liability company when people are investing substantial amounts of money.

Tempe Man Sues LA Fitness Claiming Billing Fraud

Arizona Republic: “A Tempe man is suing LA Fitness for fraud, contending that staff members used his electronic signature to charge him for more than $1,200 in services he did not want or need. Benjamin Calleros, 22, said LA Fitness drained his bank account of money set aside for tuition when staff members fraudulently signed him up for personal-training services. The lawsuit mirrors hundreds of concerns posted on consumer-protection websites alleging that LA Fitness bills for unrequested services, continues auto-deducting monthly fees after contracts are canceled and refuses to reimburse once fees are collected.”

Housing Leaders In Arizona Fight to Keep Mortgage Settlement

azcentral.com: According to this article, “[t]he Arizona Housing Alliance, made up of leaders in the housing industry, is considering legal action to stop a proposed $50 million sweep from the mortgage settlement fund to balance the state’s budget.”

Supreme Court May Uphold Key Provision of Arizona’s Illegal Immigrant Law

Legal Insurrection: The U.S. Supreme Court heard oral arguments today about Arizona’s controversial illegal immigratio law, SB 1070. Based on the initial reports, it appears that the Court may uphold at least one key provision of the law, which allows state law enforcement to inquire about a person’s immigration status. Even some of the Court’s liberal Justices seemed skeptical about prohibiting state law enforcement from checking the immigration status of a person within the state’s borders. What remains unclear is how the Court will view the provisions of the law that make it a state crime to violate federal immigration law.

Supreme Court To Hear Arizona Immigration Case

findlaw.com: On Wednesday, April 25, the Supreme Court will hear from both sides of the argument as to whether states can adopt their own policies on handling illegal immigration. Arizona’s lawmakers appear to be staunchly supportive of such sovereignty:

“If the federal government had been doing and would continue to do its job in securing the border here in southern Arizona, this would not be an issue. Unfortunately, they failed to do that so Arizona stepped up and said, ‘We want to be partners. Here’s a role we think we can play,'” said Sheriff Larry Dever of Cochise County, which shares an 83.5-mile border with Mexico in the state’s southeastern corner.

Five states have adopted policies similar to Arizona’s. For the entire article on this hotly debated issue, click here.