New York drops damages claim in suit against ex-AIG chief

By Jessica Dye

NEW YORK (Reuters) - New York's attorney general is dropping a claim for damages in a high-profile civil lawsuit accusing the former chief executive of American International Group Inc, Maurice "Hank" Greenberg, of defrauding investors, according to a letter sent by the attorney general's office on Thursday.

The 2005 lawsuit filed by then-Attorney General Eliot Spitzer against Greenberg and former AIG chief financial officer Howard Smith sought as much as $6 billion in damages.

In an April 25 letter to the New York Court of Appeals, New York Solicitor General Barbara Underwood wrote that the state would still be pursuing the civil fraud case against the defendants but would not be seeking damages, in order "to avoid further delay and expedite the trial of the state action."

The office will continue to pursue other remedies against the defendants, including a potential ban on working in the securities industry or serving as an officer or director of a public company, the letter said.

"Attorney General (Eric) Schneiderman feels strongly that individuals in the financial services industry who perpetrate fraud, no matter how wealthy or powerful, must be held publicly accountable, and that is why we believe justice will best be served by proceeding to a long overdue trial of Mr. Greenberg as quickly as possible," New York attorney general spokesman Damien LaVera said in a statement.

A lawyer for Greenberg, David Boies of Boies Schiller & Flexner, said in a statement that the action "finally brings down the curtain on a series of issues of claims that were never justified and should never have been brought in the first place."

The decision to withdraw the claim for damages in state courts follows an April 10 order approving a $115 million settlement reached by AIG shareholders with Greenberg and other defendants over alleged accounting improprieties at the insurance giant.

Lawyers for Greenberg argued that the $115 million settlement in federal court would effectively preclude Schneiderman from seeking "duplicative damages" from Greenberg in state court.

The attorney general's lawsuit centered around two reinsurance transactions in 1999 and 2000. It was brought under the Martin Act, a law that allows New York's top state prosecutor to pursue criminal or civil fraud cases involving suspected corporate wrongdoing.

The case is currently pending before the New York Court of Appeals, the state's highest court.

The case is People v. Greenberg et al, Supreme Court of the State of New York, New York County, No. 401720/05.

(Reporting by Jessica Dye; Editing by Edmund Klamann)

Source: http://news.yahoo.com/york-drops-damages-claim-suit-against-ex-aig-025803123--finance.html

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Source: http://www.articlesnatch.com/Article/Cheap-Flight-Ticket-Booking--A-Revolution-In-Air-Traveling/4572195

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Abortion foes want to turn back the clock, Obama says (cbsnews)

Share With Friends: | | Politics - Top Stories News, RSS Feeds and Widgets via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/301831388?client_source=feed&format=rss

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Toronto-Based Accelerator Extreme Startups Introduces Its Third Class

It?s been more than a year since Toronto-based Extreme Startups raised funding and launched its Accelerator program. Now it?s ready to introduce the third group of five companies to have gone through the program. The next five companies are a mix, from online craft marketplace BRIKA to business intelligence tool Polychart? With some vitamins and science research thrown in for good measure.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/T_WLc4yfKeM/

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Mom, daughter persevere together after Boston bombings

>> "rock center." a week ago tonight at this very moment we were in the middle of hours 'ole rolling coverage in boston . by this time last week, we knew the danger had passed but also knew the terrible toll in boston . last week, natalie morales introduced us to the corcoran family, mother and daughter hospitalized together. they have survived life-threatening injuries and are only alive because of the kindness and quick thinking of those around them. and tonight natalie reports on this family's incredible bond.

>> reporter: it wasn't the birthday party 18-year-old sydney corcoran planned.

>> happy birthday .

>> thanks.

>> reporter: but the fact she can celebrate at all is extraordinary considering how seriously she and her mother se celeste were injured two weeks ago. the family had gathered at the boston marathon to cheer on celeste 's sister carmen. her brother tyler decided to stay home at the last minute. they were at the finish line when the bomb went off. these powerful images show sydney being helped by strangers, and celeste lying in the carnage. her husband kevin struggling to stop her bleeding.

>> instinct just takes over. you take your belt off, put a tourniquet on.

>> last week kevin and carmen sat down to tell us about that awful day.

>> i just laid down next to her and just told her i loved her and that everything would be okay and i just kissed her face and just gently carsed her as people were trying to get to her.

>> they were at the finish line waiting for me and i was terrified that my family was gone. everyone i loved was there.

>> they have been recovering together, literally in the same room at boston medical center . sydney suffered a severed femoral artery and celeste lost both of her legs. this week, they were strong enough to speak to us themselves. despite being so close to the blast, they never lost consciousness and remember every detail.

>> celeste , what about your memory of that very moment?

>> it was just -- it was just crazy. i knew that my sister was coming around soon. and i was -- i just kept scanning back and forth to see if i could see her.

>> reporter: but then --

>> when the bomb hit, i -- i just couldn't -- i immediately -- i think i was just down on the ground because of course it hit my legs. i just kept saying over and over in my head, no, no. so my husband was standing next to me. i had no idea if sydney was hurt or anything. i was just down and then his face was over my face and he was just like i've got you. you are hurt. i'm going to take care of you. and he saved my life.

>> reporter: the pain, she says, was excruciating.

>> i just wanted to die. you know what, actually the thought was there because i was in so much pain and then i just remember thinking, i can't. i can't. i don't want to leave my family, you know. just too much to do.

>> reporter: celeste had no idea her daughter sydney was also badly injured bleeding heavily from a severe leg wound. sydney hoarse from being intubated from surgery describes that day.

>> it was really difficult that day being so tired because all of the blood leaving my body. i turned white. my lips turned blue. i felt tingly like i was fading.

>> reporter: did you know at the time you were in that severe of a situation?

>> no. i mean at the moment we were pushed back i was in shock and i wasn't sure what happened. when i was in the ambulance, i think it completely dawned on me like i could be dying.

>> reporter: separated from her parents, sydney feared the worst.

>> i wanted to know where they were. i thought i was going to wake up and have no one left but my brother.

>> reporter: in the hospital that night sydney learned her mother had lived but she suffered a devastating injury.

>> i knew i at least had my mother. so really the legs don't mean anything to me. i know it's hard for her, but i'm glad i have her.

>> that's true. i mean i liked my legs but, you know, if i can get a new set of legs and still be here and go through the milestones, her graduation. i have an older son and so close to. i want to see everything in their lives. i'm not ready to leave. so, yeah. if it is with new legs, it's with new legs.

>> reporter: it's the second time a medical disaster has hit the corcoran 's three years ago sydney was hit by a car and spent a week in the hospital with a fractured skull. her brother tyler saw it all happened.

>> he thought she was dead that time. so for him to live through this, i feel like emotionally this has to be -- he is so strong. you know, we have all been through so much.

>> it was just horrible. i just didn't want to go through losing her again.

>> reporter: but this family is not just boston strong, they are corcoran strong.

>> we're all here. we're all alive. i got my baby with me. you know, i couldn't ask for more.

>> reporter: not that their resilience won't be tested. a few days ago celeste hit a low point until this visit from some wounded veterans.

>> i can't do anything.

>> right now, yes. but i'm telling you, with all of my heart, you are going to be more independent than you ever were.

>> reporter: gabriel martinez lost his legs in 2010 .

>> doesn't matter. this is a just a change of scenery.

>> what did they tell you to lift your spirits?

>> he came in here with his legs and i was amazed. he goes rock climbing . nothing he can't do. if you have the spirit and you want to do it i can absolutely achieve it.

>> reporter: newfound friends are among the biggest comfort, especially from bonds forged that day. jeff was captured in this unforgettable scene. he helped the fbi identify one of the bombers. after he visited sydney on her birthday, jeff, celeste and sydney talked about doing rehab together. before rehab begins, it's the little things that can bring a smile or cause a panic.

>> i understand you even had a little visit from bradley cooper , is that right?

>> yes.

>> yes.

>> reporter: tell me about that. that had to be exciting.

>> it was very exciting. very exciting. her heart monitor -- it is a funny story.

>> reporter: your heart monitor got higher.

>> i was so stressed out because at that point i hadn't washed my hair. i still had the debris and shrapnel, whatever. literally my hair was matted. and like i said i do hair and i had my glasses on and i was under no illusion that he was going to walk in and be star struck by me but i wanted to look my best for me.

>> he asked for permission if he could kiss me on my cheek. of course i said yes. i'm never going to forget that moment. here's our hero.

>> reporter: the leading man of sydney 's story is matt smith . one of the strangers who helped to save her life.

>> what was he doing at the time to help you that allowed you to feel calm and feel like everything was going to be okay?

>> he made sure that i was holding his hand and he kept telling me to squeeze it, make sure i could still do it. and he was holding my gaze the entire time. getting right up in my face and he kept saying just look at me, bud.

>> reporter: people like you were real heros that day. there could have been more bombs for all you knew. did that enter your mind whatsoever?

>> no. the only thing, you know, that we wanted to make sure she was okay.

>> reporter: the corcoran 's have also found peace knowing police have tracked down the people they believe are responsible. when you there was a capture, were you happy to hear that? did it hit you in any way.

>> i felt a relief.

>> so did i. i wanted the person to be brought to jchlustice. i don't want e i didn't want them to hurt anyone else. i don't want hate in my heart for this person. i truly believe they are sick. they have my pity.

>> reporter: the family knows they face a tough road but they will make it together.

>> there's times when everything kind of overwhelms you. i really believe if you persevere and believe in yourself, you have to dig down deep inside and be like, i can do this. it's going to be hard but i can do this.

>> first of all, how wonderful they let you in to the family.

>> they really have is.

>> and you have been able to televise this conversation. tell us about prognosis. obviously they are already having their ups and downs and obviously from bradley cooper to veterans they have had help. what's the prognosis.

>> a lot of emotional support which they so much need right now. but sydney is expected to make a full recovery. you saw she has a leg wound and her doctors say she may even get back to her dance troupe that she loves so much at her high school . of course that is great news. celeste , what is next for her is the long road to recovery. once you are a double amputee she will have to be fit with prosthetics later on but she's very much looking forward to getting back to the life she had before as a hair dresser . although, of course, life has changed so much for them. their new reality.

>> for all of the wrong reasons. we have so much technology to help them in this. we will stay on the story. thank you for your reporting.

>> my privilege and pleasure. thank you.

>> natalie morales here with us

Source: http://feeds.nbcnews.com/c/35002/f/653381/s/2b3aa18d/l/0Lvideo0Bmsnbc0Bmsn0N0Cid0C51682173/story01.htm

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Dozens feared dead in Russian psychiatric hospital fire

By Alexei Anishchuk

RAMENSKY, Russia (Reuters) - At least 36 people were feared dead after a fire raged through a psychiatric hospital north of Moscow on Friday, killing some patients in their beds and others who were trapped by barred windows.

The fire broke out in the early hours and swept through a single-storey building at the hospital in woods in the village of Ramensky, officials said.

Twelve bodies had been found by mid-morning, the Emergencies Ministry said, as grey smoke billowed from the charred yellow-brick building.

Andrei Vorobyov, interim governor of the Moscow region, said a nurse had led two patients to safety. He said 36 others were believed to have been in the hospital when the fire broke out, but another local official said 38 were feared dead.

"Those who were in there said it happened in a flash. The nurse opened the door to the room and there was smoke, and even when she saw the fire she could not get to the fire extinguisher. It all happened very quickly," he told Russia 24 television.

He said some windows had been barred to meet regulations while others had not, so the investigators would be able to determine whether they had prevented people from escaping.

"Obviously, all the patients were sleeping and they were sick people ... so they would have needed help to get out," he said, adding that the nearest fire station was a 40-minute drive away.

President Vladimir Putin called for an explanation of the "tragedy" and told emergency services to do all they could to help.

Fires at state institutions in Russia such as hospitals, schools, drug treatment centers and homes for the elderly or disabled often cause casualties, raising questions about safety measures, conditions and escape routes.

Dmitry Pestov, deputy head of the Moscow region, said 41 people had been in the building but three had been saved and were in hospital.

"Fire safety watchdogs constantly check all (public) institutions and issue recommendations. As far as I know, all the recommendations had been followed," he told reporters outside the hospital which still smoldered.

"There are different versions, including arson and a short circuit. They will be checked."

Some people stood on the opposite bank of the Moscow canal from the hospital, trying to get across to check whether their relatives had survived. The police had stopped the ferry and fishing boats were not allowed to cross.

"They are not letting the relatives in. Why? How can we get there?" said Konstantin, whose father was in the hospital, which is about 120 km (70 miles) north of Moscow.

"Living conditions? It was a slum in there. No conditions."

More than 12,000 people were killed in fires in 2011 and more than 7,700 in the first nine months of 2012 in Russia, where the per capita death rate from fires is much higher than in Western nations including the United States.

(Additional reporting by Ludmila Danilova, Writing by Elizabeth Piper; Editing by Timothy Heritage and Alison Williams)

Source: http://news.yahoo.com/thirty-eight-feared-dead-russian-psychiatric-hospital-fire-023237928.html

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Turkey says chemical arms use would escalate Syria crisis

By Jonathon Burch

ANKARA (Reuters) - Turkey said on Friday that any use of chemical weapons by Syrian President Bashar al-Assad would "take the crisis to another level", but remained cautious about any foreign military intervention in the conflict on its border.

The White House said on Thursday Assad's government had probably used chemical arms on a small scale, but that President Barack Obama needed proof before he would act.

"We have been hearing allegations of the use of chemical weapons for quite some time now and these new findings take things to another level. They are very alarming," Turkish foreign ministry spokesman Levent Gumrukcu said.

"Since the very first reports of chemical weapons being used in Syria emerged, we have been asking for a thorough investigation by the United Nations to substantiate these reports. However, the Syrian regime has not allowed this."

Syria, which has so far denied access to U.N. investigators because of a dispute over their remit, denies firing chemical weapons and accuses anti-Assad rebels of using them.

"This has been done by organizations, including al Qaeda, which threatened to use chemical weapons against Syria. They have carried out their threat near Aleppo. There were victims," Syrian Information Minister Omran al-Zoubi said in Moscow.

"The Syrian army does not have chemical weapons," Interfax news agency quoted Zoubi as saying.

He compared the U.N. mission with the U.N. inspectors sent to Iraq in the 1990s to check for weapons of mass destruction that former leader Saddam Hussein was suspected of accumulating.

A decade ago, U.S. President George W. Bush used inaccurate intelligence to justify an invasion of Iraq to destroy nuclear, chemical and biological weapons that turned out not to exist.

"Somebody is very keen to send an investigative commission to Syria similar to the one that used to work in Iraq and in the end led to its occupation and destruction," Zoubi said.

Russian Foreign Ministry spokesman Alexander Lukashevich echoed that assessment, saying plans to look into other alleged incidents of chemical weapons use in addition to the attack near Aleppo were "like the scheme used ... in Iraq".

In a statement, he suggested Western nations in the U.N. Security Council "were concerned not with concrete steps to prevent the use of toxic substances in the Syrian crisis but with the goal of changing the regime of a sovereign state".

Syria's uprising is the bloodiest and longest of Arab revolts that erupted more than two years ago. It began with peaceful protests against Assad that were met with force, sparking armed opposition and eventually a full-scale civil war.

More than 70,000 people have been killed. A military stalemate has set in, but Assad has still been able to rely on support from Russia and Iran.

A once-fervent advocate of foreign intervention in Syria, Turkey has grown increasingly frustrated with the fractured opposition to Assad and with international disunity.

Asked whether Turkey would allow foreign military action in Syria from its soil, Gumrukcu said the facts about chemical weapons usage needed to be substantiated first.

"RED LINE"

"Let's not jump to that right now. Let's have a thorough investigation," he said, adding that any response if the claims were verified would need to be discussed among the "Friends of Syria" grouping of the opposition's Western, Arab and other allies.

The U.S. disclosure created a quandary for Obama, who has set the use of chemical weapons as a "red line" that Assad must not cross. It triggered calls from some hawkish Washington lawmakers for a U.S. military response, which the president has resisted.

On Friday, Obama said deployment of chemical weapons by Syria's government was a "game changer", but also noted that intelligence assessments proving they had been used were still preliminary.

Turkey had been pushing for a foreign-protected "safe zone" inside Syria that could serve as a refuge for civilians caught up in the chaos and ease the burden on refugee camps in Turkey, now housing more than a quarter of a million people.

But it has been less vocal in recent months and officials were privately cautious about the latest U.S. disclosure.

"(The) statements are very vague and they themselves do not seem to be very confident of their arguments," one source close to the Turkish government said.

"Turkey has been voicing some concerns to that end as well, but without proof, I don't think any further steps than the current level of involvement would be made," the source said.

"Intervention is very risky."

The European Union also responded cautiously, saying it hoped the United Nations would be able to send its investigating mission to Syria to check for chemical weapons use.

"We are still monitoring this along with our international partners to see what has really happened because it doesn't seem entirely clear at this point in time," said Michael Mann, a spokesman for EU foreign policy chief Catherine Ashton.

"We've seen that the regime in Syria doesn't seem to have much respect for human life, but we can't be definitive on this until we see definitive evidence," Mann said.

(Additional reporting by Nick Tattersall in Istanbul, Adrian Croft in Brussels, Gabriela Baczynska in Moscow and Jeff Mason in Washington; Writing by Nick Tattersall; Editing by Alistair Lyon and Tom Pfeiffer)

Source: http://news.yahoo.com/turkey-says-chemical-arms-escalate-syria-crisis-192442219.html

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