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January 9, 2015

In The News Today – January 9, 2015

In what will reportedly be the “largest civil penalty an automaker will have to pay,” the National Highway Traffic Safety Administration will fine Honda $70 million. This follows an NHTSA investigation that found “Honda failed to report deaths, injuries, and certain warranty claims to the government, as per regulations.” (Boston Globe)

In assuming the chairmanship of the U.S. Senate Judiciary Committee this week, Sen. Charles Grassley (R-IA) said, “We’ll have an agenda that enhances the economy and protects consumers; reduces regulatory burdens on businesses and curbs abuses to our civil justice system.” (Des Moines Register)

In a securities class action stemming from the 1998 merger between BankAmerica and NationsBanks, the U.S. Court of Appeals for the Eighth Circuit overturned a decision “to hand over leftover settlement funds from the case to a Missouri legal nonprofit, rather than distributing the money to investors or to a group concerned with shareholder issues.” (Litigation Daily)

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