Word: suede
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His mistake was to cross swords with Lloyd's of London. When coffee prices plunged in 1986, leaving him exposed, he handed the insurers $6 million in claims for the alleged theft of a Song dynasty vase and commercial losses on an undocumented coffee shipment. Underwriters refused to pay, so...
Originally the school board had selected Johnathan Henderson for the honor. Henderson, who is black, had a grade-point average of 96.96, winning awards in trigonometry, physics and Latin, plus scholarships totaling $42,500. But C. Thomas Allgood III sued. Allgood, who is white, claimed he should be the top...
The State of Maryland sued a seller of medical-alert units (price: $1,295 each) that became useless junk when the firm failed to pay the company monitoring the equipment. And the American Association of Retired Persons decries the industry's high-pressure sales ploys. According to Myra Herrick, a...
The most famous controversy over a spurned request led to the courtroom last year. Tamas Bosze, a Chicago bar owner, was told that only a marrow transplant could rescue his son Jean-Pierre, 12, from leukemia. The boy's only potential donors were twin half-siblings born out of wedlock...
With the cost of litigation soaring -- defending a patent in court can cost ( $250,000 to $2 million -- entrepreneurs are financing lawsuits for inventors in exchange for a piece of future royalties. A New York City company, Refac Technology, has sued more than 2,000 companies, including IBM, Kodak, Sears...