Tag: Settlement

Judges OK Settlement with ex-Mountain State Students

A three-judge panel says former students of Mountain State University are entitled to an $11.3 million payout.

Media reports state that the so-called mass litigation panel met in Charleston on Thursday to approve the proposed settlement.

The students argued that Mountain State did not provide them with an education worthy of the tuition they paid. The private university closed after it lost its accreditation in 2012 because of leadership, organizational and integrity issues.

Charleston attorney Anthony Majestro was the lead lawyer for the students. He said notices were sent out to more than 10,000 former students to make claims for the settlement, but barely more than 1,000 have responded. The deadline is Sunday.

W.Va.'s Attorney General Announces a $950k Settlement with 3 Financial Groups

West Virginia's attorney general has reached a $950,000 settlement with three companies over allegations of antitrust law violations.Attorney General…

West Virginia’s attorney general has reached a $950,000 settlement with three companies over allegations of antitrust law violations.

Attorney General Patrick Morrisey announced the deal Monday. GE Funding Capital Market Services, Trinity Plus Funding Co., and Trinity Funding Co. were among 22 financial companies sued in 2009 by previous Attorney General Darrell McGraw.
 
Lawsuits claimed the institutions illegally rigged bids, fixed prices and manipulated the market for municipal derivatives.
 
The settlement closes claims against the three companies.
 
The companies denied allegations at the lawsuit’s filing and denied wrongdoing in the settlement.
 
The attorney general already reached deals with JPMorgan, Royal Bank of Canada, Bank of America and Morgan Stanley. Other lawsuits continue.
 
Most settlement money, except for attorney fees and costs, will benefit state agencies that invested in municipal derivatives.
 

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