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  • April 21, 2010

    Ethics Panel To Probe Massa Sex Harassment Claims

    The House Ethics Committee announced Wednesday that it had launched a formal investigation into the conduct of former Rep. Eric J. Massa, D-N.Y., who resigned in March amid claims that he had sexually harassed a male staffer.

  • April 21, 2010

    Senate Panel Clears Strong Derivatives Bill

    The Senate Committee on Agriculture, Nutrition and Forestry on Wednesday approved a slightly modified proposal from chairwoman Blanche Lincoln, D-Ark., that Democrats say will bring 100 percent transparency to the unregulated $600 trillion over-the-counter derivatives market.

  • April 20, 2010

    New Merger Guidelines Would Up Enforcer Flexibility

    U.S. antitrust regulators have released proposed changes to the guidelines they follow when reviewing mergers, seeking comment on revisions experts said could elucidate the tools regulators currently use and potentially give enforcers additional flexibility when challenging mergers in court.

  • April 20, 2010

    Dems Grill Ex-Lehman Execs Over Firm's Collapse

    Greater authority and resources for federal regulators could have stopped failed investment firm Lehman Brothers Holdings Inc. from participating in off-sheet “Repo 105” tactics and other risky behavior prior to its collapse, U.S. House of Representatives Democrats said Tuesday.

  • April 20, 2010

    Debevoise Advises Equity Firms In $1.1B Sedgwick Buy

    Two private equity firms have agreed to pay $1.1 billion to acquire a 100 percent ownership stake in Sedgwick Claims Management Services Inc., an insurance claims administrator that has more than 150 offices and service locations in the United States and Canada.

  • April 20, 2010

    Schwab To Pay $200M To Settle Investor Action

    The Charles Schwab Corp. has agreed to shell out $200 million to settle the remaining claims in an investor class action that alleged the investment company mismanaged its YieldPlus ultra-short bond fund by investing heavily in mortgage-backed securities.

  • April 20, 2010

    Goldman Enlists Ex-White House Counsel In SEC Fight

    Goldman Sachs Group Inc. has enlisted Skadden Arps Slate Meagher & Flom LLP's Gregory B. Craig, the White House's former chief counsel, to help it craft a litigation strategy to fight the U.S. Securities and Exchange Commission's fraud suit, a Skadden spokeswoman confirmed Tuesday.

  • April 20, 2010

    US Antitrust Officials Propose New Merger Guidelines

    U.S. antitrust regulators have released proposed changes to the guidelines they follow when reviewing mergers, outlining a more flexible process than the one described by the current guidelines.

  • April 20, 2010

    Ex-Homestore CEO Gets 54 Months In Prison For Fraud

    A federal judge has sentenced ex-Homestore.com CEO Stuart Wolff to a 54-month prison sentence for his role in a $67 million accounting fraud.

  • April 19, 2010

    Ex-Collins & Aikman CEO Settles SEC Case For $7M

    Former White House Budget Director David Stockman has agreed to pay $7.2 million in disgorgement and civil penalties to the U.S. Securities and Exchange Commission for his alleged role in fraudulent schemes to inflate the reported income of now-bankrupt automotive parts manufacturer Collins & Aikman Corp. when he was the company's CEO.

  • April 19, 2010

    Lawmakers Ask SEC To Widen Goldman Probe

    Although the U.S. Securities and Exchange Commission's lawsuit against Goldman Sachs Group Inc. is welcome news, the agency should expand its investigation to determine whether other Goldman securities — particularly those insured by American International Group Inc. — were similarly designed to fail, according to two lawmakers.

  • April 19, 2010

    O2 Micro Backlighting Patent Not Infringed: ITC Judge

    A U.S. International Trade Commission administrative law judge ruled Monday that Monolithic Power Systems Inc., Asus Computer International Inc. and Microsemi Corp. have not infringed an O2 Micro International Ltd. patent covering backlighting technology for liquid crystal displays.

  • April 19, 2010

    Toyota Pays DOT $16.4M Penalty Over Recall Delays

    Toyota Motor Corp. has agreed to pay a $16.4 million civil penalty — the maximum possible — for failing to notify the National Highway Traffic Safety Administration of the now notorious “sticky pedal” defects.

  • April 19, 2010

    Supreme Court To Hear Costco-Omega 1st-Sale Case

    The U.S. Supreme Court has agreed to consider whether Costco Wholesale Corp. can sell Omega SA watches it legally bought outside the U.S. — a case that may answer the question of whether the so-called first-sale doctrine in copyright law applies to foreign works.

  • April 19, 2010

    Kinder Morgan Unit To Pay $205M To Settle FERC Suits

    A unit of Kinder Morgan Energy Partners LP has agreed to pay $205 million to settle a slew of pipeline rate challenges from 11 shippers across a range of industries, including energy giant Exxon Mobil Corp. and airline US Airways Inc.

  • April 19, 2010

    Miss. High Court Revives State AWP Suit Against Bayer

    The Supreme Court of Mississippi has revived the state of Mississippi's suit against Bayer Corp. alleging the pharmaceutical company misrepresented the average wholesale prices of drugs and caused the state's Medicaid program to pay more for medications.

  • April 19, 2010

    Calif. AG Seeks To Force Moody's To Answer Subpoena

    California Attorney General Jerry Brown said Monday that his office filed a petition seeking to force financial products rating company Moody's Investors Service Inc. to "explain why it gave its highest ratings to 'risky and toxic'" mortgage-backed securities that cost investors and taxpayers billions.

  • April 19, 2010

    Supreme Court To Hear 'Cat's Paw' Case

    The U.S. Supreme Court has agreed to hear a case that examines the “cat's paw” theory of employment law, looking at whether an employer can be held liable for unlawful discrimination by an official other than the primary decision-maker.

  • April 16, 2010

    Lawmakers Look To Use Goldman In Reform Push

    Democratic lawmakers looked to capitalize Friday on the U.S. Securities and Exchange Commission's allegations that Goldman Sachs Group Inc. cheated investors in mortgage-backed securities, with the case becoming the latest weapon in the ongoing congressional battle over financial reform on Wall Street.

  • April 16, 2010

    SEC Sat On Stanford Case For Years: Report

    The U.S. Securities and Exchange Commission suspected that Robert Allen Stanford was running a Ponzi scheme as far back as 1997 but declined to rein him in because it was more interested in pursuing “slam dunk” cases, according to an SEC report made public Friday.