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