Weekly News Update

weekly-news

*The U.S. is expanding an investigation into deceptive sales practices by bond traders even though the first major conviction in the area could be overturned. The investigations include a focus on bonds tied to mortgages and corporate loans, markets where pricing data is scarce so bank traders have an edge in marking up assets to charge higher fees. [Bloomberg]

*A veteran teacher suing New York state education officials over the controversial method they used to evaluate her as “ineffective” is expected to go to New York Supreme Court in Albany this week for oral arguments in a case that could affect all public school teachers in the state and even beyond. [The Washington Post]

*A federal appeals court revived two inmates’ prison sex abuse lawsuit Tuesday, finding that the judge who threw out the case had too narrowly interpreted a 1997 ruling on what amounts to cruel and unusual punishment and should have considered how far “standards of decency” have evolved since. [Capital New York]

*A state appeals court on Friday reinstated a lawsuit filed against Newark and two city police officers by a man claiming he lost his right eye after being attacked by a fellow inmate in a municipal holding cell. [NJ.com]

*A federal judge last Friday ruled that a new licensing exam for teachers in the state of New York did not discriminate against minorities. Kimba M. Wood of the Southern District Court said in his ruling that even though minority teachers tended to score lower on the test than other teachers, the test was a proper evaluation of the skills necessary to perform the job. [Jurist]

*New York City’s “responsible banking” law, which called for banks holding the city’s over $6 billion in deposits to document how well they meet the needs of low-income neighborhoods, is unconstitutional, a U.S. federal judge has ruled. [Reuters]

*A legal challenge that could have scuttled the development of a Finger Lakes casino was tossed by a state Supreme Court judge, the developers on Monday announced. The development of Lago Resort & Casino in the town of Tyre was being challenged by Finger Lakes Gaming & Racetrack in a suit first filed in March. [TWC News]