Home furnishings purveyor Jennifer Convertibles Inc. has filed for Chapter 11 bankruptcy protection and announced an agreement with foreign supplier Haining Mengnu Co. Ltd. Group to convert a portion of its prepetition debt into common equity of the company so it can remain in business.
A California appeals court on Monday declared unconstitutional two state laws that prevent courts from enjoining union picketing on private property, siding with Ralphs Grocery Co. in a dispute with a grocers union.
Intel Corp. has reportedly reached a preliminary settlement with antitrust authorities at the Federal Trade Commission that will require the technology giant to extend the product marketing changes it agreed to under a November settlement with Advanced Micro Devices Inc. to graphics chips.
Nokia Siemens Networks BV agreed to pay $1.2 billion to buy most of Motorola Inc.'s wireless network infrastructure Monday in a move that will boost the Finnish-German telecommunications joint venture's presence in Japan and the U.S.
A California state jury granted $1.525 million in punitive damages Friday to Technology Information Group, adding to the $9.36 million in compensatory damages it awarded to the company a day earlier in a trade secrets dispute with its former employees and a competitor.
Days after Consumer Reports took a dim view of Apple Inc.'s iPhone 4, CEO Steve Jobs said Friday that the company would offer consumers a free plastic "bumper" case to deal with problems with the phone's antenna and offered a refund to those still unsatisfied with the device.
A proprietary trader at Schottenfeld Group LLC has pled guilty to conspiracy and securities fraud charges as part of the widespread probe centered on insider trading at the Galleon Group LLC hedge funds.
A federal judge has dismissed MLSMK Investments Co.'s lawsuit seeking to hold JPMorgan Chase & Co. responsible for the loss of its $12.8 million investment in Bernard L. Madoff's infamous Ponzi scheme.
Bank-account-busting punitive damages awards are a client's and a defense attorney's nightmare when facing a high-stakes lawsuit. But there are a few easy steps that can help ward off disaster, lawyers said.
A California court has thrown out a $2.3 million jury award against Dole Food Co., determining purported Nicaraguan banana farm workers who sued the company may have lied about being affected by pesticides the company used in the 1970s.
Irish drugmaker Elan Corp. PLC has said it will pay $203.5 million and plead guilty to a misdemeanor criminal charge to settle a federal investigation into its sales and marketing practices for the epilepsy drug Zonegran.
Canada's antitrust enforcer has accused 25 more individuals and three additional companies of fixing the price of gasoline sold at the pump in the second wave of criminal charges in the Quebec cartel probe.
Mirant Corp. and RRI Energy Inc. have revealed that the U.S. Department of Justice wants more information on their planned $3.1 billion merger, which would create one of the largest independent power producers in the U.S.
The U.S. Securities and Exchange Commission's record settlement with Goldman Sachs Group Inc. over a mortgage-based investment vehicle rigged to fail has pulled the rug from under plaintiffs pursuing private civil suits against the investment bank, experts say.
A filmmaker has been ordered to give Chevron Corp. copies of outtakes of a movie documenting the legal fight between the energy giant and a group of Ecuadoreans seeking $27 billion for alleged environmental damage.
The U.S. Securities and Exchange Commission's $550 million settlement with Goldman Sachs Group Inc. could go a long way toward restoring the agency's tarnished reputation and demonstrating its newfound aggressiveness, attorneys say.
Goldman Sachs Group Inc. will pay an unprecedented $550 million and reform its business practices to settle charges that it misled investors about the prospects of a complex subprime mortgage investment product just as the U.S. housing market began its collapse, federal securities regulators said Thursday.
A U.S. House of Representatives panel on Thursday approved a bill that would replace the former Minerals Management Service with three new entities and ban federal oil and gas safety inspectors from working for certain energy companies for two years.
GlaxoSmithKline PLC has disclosed a whopping £1.57 billion ($2.36 billion) legal charge tied to product liability and antitrust settlements over its troubled drugs Paxil and Avandia, revealing for the first time a £500 million settlement over allegations that the company had produced defective Paxil in a now-closed Puerto Rico factory.
Plaintiffs lawyers in the sprawling litigation against GlaxoSmithKline PLC over its diabetes drug Avandia have pushed for lead and class counsel positions, saying their third-party payor and government clients' claims wouldn't be covered by the drugmaker's proposed settlements.