CYCLINGFORUM.COM - Where Cyclists Talk Tech --- Return To Home

 

    Register FAQ'sSearchProfileLog In / Log Out

 

****

cyclingforum.com ****

HOMECLUBS | SPONSORS | FEATURESPHOTO GALLERYTTF DONORS | SHOP FOR GEAR

Return to CyclingForum Home Page CYCLING TECH TALK FORUM
          View posts since last visit

It just won't stop for LA
 

Author Thread Post new topic Reply to topic
ErikS
Joined: 19 May 2005
Posts: 8310
Location: Slowing boiling over in the steamy south, Global Warming is real

4/24/13 2:12 AM

It just won't stop for LA

http://www.foxnews.com/sports/2013/04/24/justice-dept-lays-out-suit-against-lance-armstrong-says-was-unjustly-enriched/

 Reply to topic     Send e-mail

Brian Nystrom
Joined: 26 Jan 2004
Posts: 4473
Location: Nashua, NH

4/24/13 5:21 AM

I'm no lawyer...

...but it seems that they don't have much of a case.

 Reply to topic    

dan emery
Joined: 11 Jan 2004
Posts: 6264
Location: Maine

4/24/13 5:55 AM

Not much case

Probably not, from what I read he only offered $5 million to settle it.

 Reply to topic    

JohnC
Joined: 10 Jan 2004
Posts: 1938
Location: Glastonbury, Ct

4/24/13 9:19 AM

"only offered $5 million"

That sounds like real money to me. Must be at least some case there.

I am a lawyer, but this is definitely not my area of expertise.

 Reply to topic     Send e-mail

dan emery
Joined: 11 Jan 2004
Posts: 6264
Location: Maine

4/24/13 10:46 AM

real money

Yeah, I was attempting a bit of sarcasm. I'm certainly not expert in qui tam cases, but I'm pretty sure the govt declines participation in many of them, so to me their participation indicates that they think they have a case.

The main disagreement seems to be over damages. Lance seems to be saying "My fraud made you money, so what's your problem?" The gov is saying we wouldn't have paid you if you'd been truthful (and may have some other bases of damages, I dunno). Sounds to me like an interesting question and I dunno where it comes out.

Other interesting factors are treble damages and a significant cut for Floyd if the suit is successful.

 Reply to topic    

lrzipris
Joined: 04 Mar 2004
Posts: 432
Location: Doylestown, PA

4/24/13 2:57 PM

"Real Money"

Everett Dirksen was purported to have said, "A million here, a million there; sooner or later, you're talking about real money."

 Reply to topic    

Dave B
Joined: 10 Jan 2004
Posts: 4511
Location: Pittsburgh, PA

4/24/13 3:41 PM

Not Quite


quote:
Everett Dirksen was purported to have said, "A million here, a million there; sooner or later, you're talking about real money."

No, what Dirksen said was; "A billion here, a billion there and pretty soon you are talking about real money."

Remember, he was discussing government money, not the puny stuff that impresses the rest of us.

 Reply to topic     Send e-mail

Brian Nystrom
Joined: 26 Jan 2004
Posts: 4473
Location: Nashua, NH

4/25/13 5:24 AM

My impression from the article was...

...that Floyd would be excluded by this type of suit. No?

 Reply to topic    

Andy M-S
Joined: 11 Jan 2004
Posts: 3201
Location: Hamden (greater New Haven) CT

4/25/13 5:48 AM

No, what Dirksen said was; "A billion here..."

Ahh, what's a few zeros between friends?

 Reply to topic     Send e-mail

dan emery
Joined: 11 Jan 2004
Posts: 6264
Location: Maine

4/25/13 6:58 AM

I think Floyd is happy

>>My impression from the article was...
...that Floyd would be excluded by this type of suit. No?<<

This is a statutory type of action called "qui tam" (or more colloquially "whistleblower"). It is a complex legal area about which I know only a little. Basically a private individual sues, on behalf of the government as well as himself, alleging fraud against the government (Floyd did this years ago). The government has a right to participate (this is what they have done recently). If the government declines, as they often do, the plaintiff is on his own. If the government participates, it essentially takes the case over. However, if the case is successful, the original Plaintiff (Floyd) still gets a cut of the damages (where the government participates, I think the cut is in the area of 15-25%). This is still the lawsuit begun by Floyd.

I think in nearly all cases the original plaintiff wants the government to come in and try the case. If you figure Lance offered $5 mill and it was rejected, and there is a possibility of treble damages at trial, and Floyd may get 15-25% of the whole ball of wax, pretty soon you're talking real money.

The above is my non-expert understanding and may be wrong, and I certainly am not predicting how this may come out. If this actually went to trial, I'd pay to sit there and watch.


Last edited by dan emery on 4/25/13 7:31 AM; edited 2 times in total

 Reply to topic    

JohnC
Joined: 10 Jan 2004
Posts: 1938
Location: Glastonbury, Ct

4/25/13 8:43 AM

millions, billions, apocryphal?

Actually, he probably never said either. At least, there's no clear record that he ever did. But he said things expressing related thoughts many times.

 Reply to topic     Send e-mail

Yammie
Joined: 11 Dec 2003
Posts: 440
Location: Tampa Bay, FL

4/30/13 1:14 PM

other suits

I'd love to see Emma (don't recall her last name, the Postal soigneur), Betsy Andreu, and Greg Lemond step up for a piece of the apple since Lance used his influence to crush them. He pressured Trek to drop the Lemond label and some estimates put the value of that company at $30-40 million if it had continued as it was.

I have no idea why Lance confessed, but he will be bled extensively before it's over.

 Reply to topic     Send e-mail

ErikS
Joined: 19 May 2005
Posts: 8310
Location: Slowing boiling over in the steamy south, Global Warming is real

4/30/13 6:35 PM

He confessed because of his kids. They were defending his lie and he said he could not live with that.

Kids and ingrained honor will make a person do some things we often think we could not do.

I am glad he finally fessed up.

 Reply to topic     Send e-mail

ErikS
Joined: 19 May 2005
Posts: 8310
Location: Slowing boiling over in the steamy south, Global Warming is real

4/30/13 6:35 PM

He confessed because of his kids. They were defending his lie and he said he could not live with that.

Kids and ingrained honor will make a person do some things we often think we could not do.

I am glad he finally fessed up.

 Reply to topic     Send e-mail

Brian Nystrom
Joined: 26 Jan 2004
Posts: 4473
Location: Nashua, NH

5/1/13 5:32 AM

Lemond screwed himself

He is the reason that Trek killed the brand, not Lance.

 Reply to topic    

daddy-o
Joined: 12 Apr 2004
Posts: 3289
Location: Springfield

5/1/13 9:40 AM

How did LeMond kill the brand? Kill the messenger?

 Reply to topic     Send e-mail


Return to CyclingForum Home Page CYCLING TECH TALK FORUM
           View New Threads Since My Last Visit VIEW THREADS SINCE MY LAST VISIT
           Start a New Thread

 Display posts from previous:   


  
Last Thread | Next Thread  >  

  
  

 


If you enjoy this site, please consider pledging your support

cyclingforum.com - where cyclists talk tech
Cycling TTF Rides Throughout The World

Cyclingforum is powered by SYNCRONICITY.NET in Denver, Colorado -

Powered by phpBB: Copyright 2006 phpBB Group | Custom phpCF Template by Syncronicity