Lawsuit

Legislation that transfers power to the incoming superintendent of Public Instruction is on hold. The North Carolina Board of Education filed a lawsuit Thursday to invalidate that legislation. It was scheduled to become law Sunday, but a Wake County judge will hold a hearing on the lawsuit next Friday before deciding whether the law can take effect.

Before we get too far into the weeds, here’s something you need to know: The superintendent of Public Instruction is not the head of the Department of Public Instruction. The state Board of Education is in charge.

Rowan County

The U.S. Supreme Court ruled that opening prayers with references to Christianity during government meetings do not violate the U.S. Constitution.

This decision may impact a trial in Rowan County filed by residents who say they feel excluded when county commissioners open council meetings in the name of Jesus.

A federal judge has ruled the North Carolina Department of Transportation illegally seized and destroyed private property in Concord. The judge ordered the agency to pay more than $20,000 in fines. 


MoneyBlogNewz / Flickr

The U.S. Justice Department is suing Bank of America for allegedly misleading investors who bought some $850 million of mortgage-backed securities, bonds that are backed by a huge pool of mortgage loans. The government is accusing the country’s second-largest lender of hiding information about how risky some of the loans were.


Charlotte Observer: CMS settles Leardini case for $680,000

Oct 8, 2012

Charlotte-Mecklenburg Schools has agreed to pay former teacher Jeffrey Leardini $680,000 to settle a lawsuit that brought him a jury award of $1.1 million. Leardini, a former sixth-grade teacher at Community House Middle School, contended he was improperly forced to resign in 2006, after five students accused him of improperly touching them.

Bank of America is paying $2.4 billion to settle a lawsuit over its acquisition of Merrill Lynch. Shareholders accused the Charlotte-based bank of lying about the shape both companies were in at the time of the deal.

The bank’s then-CEO Ken Lewis raved about buying Merrill Lynch in 2008.

“Acquiring one of the premier wealth management, capital markets and advisory companies is a great opportunity for our shareholders,” Lewis said at the time.