News briefs for August 30, 2004

Monday, Aug. 30, 2004 | 9:48 a.m.

NLV police search for driver

North Las Vegas Police have asked for the public's help in finding the driver of a dark-colored SUV that fled the scene of a collision just after midnight on Saturday, leaving a 20-year-old man in the street in critical condition.

Officers found the victim after he tried to cross Oxford Avenue at Princeton Street.

Witnesses said the vehicle that hit the man and left him in serious condition was traveling east on Oxford. The vehicle, possibly a Jeep Cherokee, stopped and the driver got out to check damages, police said.

The victim was taken to University Medical Center where he remained in critical condition.

The driver was described as a dark-skinned man, possibly black, and he had a female passenger in the front seat, witnesses said.

Anyone with information about the accident is asked to call Crime Stoppers at 385-5555.

Company's case to be retried

CARSON CITY -- The Nevada Supreme Court has ordered a new trial for a case in which a Las Vegas man and his company sued a law firm for legal malpractice.

Ilbert Mednicoff and his company CCN Inc. sued the law offices of Robert Bolick and some of its members for breach of fiduciary duty and negligent supervision of one of the law firm attorneys. Mednicoff had hired the company to represent him in litigation against another company.

There was a falling out between Mednicoff and the law firm. He filed suit and a district court jury in Las Vegas awarded him and his company $674,500. Former District Judge Gene Porter overturned the verdict. Both sides appealed to the Supreme Court. Mednicoff claimed he should have been allowed to collect punitive damages from the suit.

The Supreme Court said Friday the special instructions given the jury violated the law and there were a "series of important procedural and substantive errors" during the trial before Judge Porter, who has since retired. All the issues are to be retried, said the court.

State lands settlement

CARSON CITY -- Nevada will be receiving $337,500 as part of a national settlement between security regulators and two brokerage houses accused of improper actions.

Secretary of State Dean Heller said the Deutsche Bank Securities Inc. will pay $87.5 million in the settlement and Thomas Weisel Partners LLC will pay $12.5 million in a national settlement. There were allegations of conflicts of interest at the brokerage houses, with analysts in the two companies recommending stocks due to improper influence from investment banking colleagues.

Heller said Thursday that the settlements "represent a significant step in our continuing effort to ensure that investors are treated fairly and provided with objective research."

FEMA to provide relief funds

CARSON CITY -- The Federal Emergency Management Agency will provide $10.8 million to help reseed the hills above Carson City and to build flood control structures to protect residents.

A fire burned more than 8,000 acres, destroyed 18 homes and damaged or destroyed 51 vehicles.

Gov. Kenny Guinn said Friday that President Bush acted quickly to get the funds to relief agencies to start the lengthy rebuilding process. The money will be used for seed and the aerial application of rice straw mulch on the steepest slope. And actions will be taken to protect Carson City's drinking water system and to protect the city from flooding from water running down the blackened hills west of the city.