A divided Illinois Supreme Court has let stand a lower court’s decision to allow lawyers to earn fees – even fees that appear overly large, compared to the amount of work being done – from real estate title companies, despite accusations that the fee-splitting arrangements amount to little more than a kickback scheme.
The village of Lombard will reap a $459,000 payday from the operators of six of the biggest online travel websites – the only Illinois municipality allowed to do so - after a federal judge signed off on a deal to end a years-long court fight over claims the travel sites had stiffed Lombard and other suburban Chicago communities of hotel taxes.
Appeals panel: Lawyers must only perform some 'core title' work to earn payments from title insurers, avoid kickback allegations
Two title insurance companies did not participate in an illegal kickback scheme by splitting fees with Chicago area real estate lawyers in return for those attorneys referring clients to them, a divided state appeals panel has ruled, finding lawyers are allowed to be paid fees by the title companies – even fees that may appear large, relative to the work they actually performed – if they perform any work related to clearing a title, at all.
Judge says commodities traders chose wrong target when suing CME over high frequency traders' market manipulation
A federal judge has ruled a group of commodity traders who felt they had been harmed by the manipulative activities of so-called “high frequency traders” had misplaced their grievance when they filed a complaint against the Chicago Mercantile Exchange. The putative class action, represented by plaintiffs William Charles Braman, Mark Mendelson and John Simms, alleged the CME granted unfair advantages to certain classes of traders.