MidwestRSS

  • September 6, 2006

    Visteon Victorious In Shareholder Securities Suit

    A federal judge has dismissed a class action lawsuit that accused Visteon Corp. and four top executives of defrauding shareholders out of billions of dollars.

  • September 6, 2006

    Backdating Costs Investors 8% Per Share: Survey

    Backdating of options issued to executives cost shareholders a stunning 8% per share, or almost $500 million on average for the companies involved, a recent university research paper concludes.

  • September 6, 2006

    3M Brings Suit Over Water-Filter Patents

    Water-filter maker 3M has sprayed subsidiaries of Clorox Co. and retailer Sears Roebuck & Co. with a lawsuit, claiming they violated two of its patents covering a cartridge-based water purification and filtration system.

  • September 6, 2006

    Backdating Probes To Spare No One: Grassley

    Senator Chuck Grassley painted the growing scandal over stock options backdating as a threat to American values Wednesday at a U.S. Senate Finance Committee hearing on backdating and executive compensation.

  • September 5, 2006

    Biotech Companies Settle Secretive Patent Suit

    Biotech companies Applied Biosystems Group and Promega Corp. have settled outstanding legal disputes, the companies said on Tuesday. But they declined to elaborate on the disputes or the terms of the settlement.

  • September 5, 2006

    Wachovia Brokers Demand Overtime Pay

    Wachovia Securities LLC has become the latest investment bank to be accused of not paying overtime wages after Wachovia employees filed a suit against the brokerage late last week.

  • September 5, 2006

    Spitzer Eases Curbs Amid Insurance Price Fixing Probe

    Just a week after the world’s top insurance broker, Marsh & McLennan Cos., announced that it had received a nod from New York Attorney General Eliot Spitzer to relax limitations on accepting contingent commissions, London insurance broker Willis Group Holdings Ltd. said it has struck a similar deal.

  • September 5, 2006

    Abbott Defeated In HCV Patent Feud

    Proving that its optimism was well-founded, Belgian biotechnology company Innogenetics N.V. has been handed a victory in its long-running battle with Abbott Laboratories over a hepatitis C virus genotyping patent.

  • September 1, 2006

    IBM's Age Discrimination Suit Revived On Appeal

    IBM Corp. will once again face an age-discrimination lawsuit filed by a slew of former employees, after a federal appeals court ruled Thursday that the computer giant’s employment agreements don’t free it from the litigation.

  • September 1, 2006

    Ohio, Unions Settle Religious Discrimination Case

    Federal prosecutors have settled a controversial religious discrimination case against the state of Ohio and a union over employees’ right to refuse paying fees to unions whose policies conflict with their personal beliefs.

  • September 1, 2006

    Brokerage Forks Over $127M In Class Action Settlement

    Brokerage firm Edward D. Jones & Co. will pay $127 million to settle nine class action lawsuits filed against the firm over allegedly questionable revenue-sharing practices.

  • September 1, 2006

    Qwest Slapped With Class Action Over Wages

    A group of Qwest Communications International Inc. call center workers have filed a class action lawsuit against the company, alleging they were not paid for overtime and weren’t allowed to take work or meal breaks.

  • September 1, 2006

    Dana To Fork Over $12.6M In Legal, Professional Fees

    Embattled auto parts manufacturer Dana Corp. must shell out a whopping $12.6 million to a slew of law firms and companies that have aided the company throughout its Chapter 11 proceedings.

  • August 31, 2006

    Pioneer Defeats Orthopedic Giant In Patent Case

    The U.S. Court of Appeals for the Federal Circuit has affirmed a lower court ruling that the Quantum pedicle screw made by Pioneer Surgical Technology does not infringe rival orthopedic company Stryker Corp.’s patent.

  • August 31, 2006

    Over Objections, Tower Auto Judge OK's Union Deal

    Snubbing creditors of Tower Automotive Inc., a federal bankruptcy judge on Wednesday gave the green light to an unusual settlement between the bankrupt auto parts maker and two of its unions to cut labor costs.

  • August 31, 2006

    Cox To Testify At Senate Options Hearing

    Securities and Exchange Commission Chairman Christopher Cox is scheduled to testify next week at a hearing on stock option backdating.

  • August 31, 2006

    Nursing Unions Challenge Hospital Deal

    Three nursing unions have filed a lawsuit seeking to stop the transfer of a not-for-profit hospital’s behavioral medicine services unit to a health care company that will force the current nurses to reapply for their jobs.

  • August 31, 2006

    Sprint's VoIP Battle Earns Two Settlements

    Telecommunications giant Sprint Nextel Corp. reached a settlement Thursday with two defendants in its patent infringement lawsuit over Voice over Internet Protocol (VoIP) technology, according to a company statement.

  • August 31, 2006

    Canadian Court Ties Up Lord Black’s Assets

    A Canadian court has frozen the assets of Conrad Black and his wife, Barbara Amiel Black, forcing the former media mogul and his socialite wife to make do with a lackluster allowance of $20,000 a month, according to a source familiar with the court order.

  • August 31, 2006

    Collins & Aikman Files Reorganization Plan

    Auto parts supplier Collins & Aikman Corp. announced Wednesday that it filed a reorganization plan calling for its emergence from court protection as a stand-alone company.