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U.S. Securities and Exchange Commission Chairman Jay Clayton, shown on Capitol Hill in March, did not give details on when the hack of the Electronic Data Gathering, Analysis and Retrieval system occurred or what nonpublic information was exposed. (AP)

SEC Says Hackers Hit Its Database, May Have Traded Off Info

The U.S. Securities and Exchange Commission’s electronic filing system for public company disclosures was hacked last year, and the agency last month learned that the cyber-intruders may have traded off the nonpublic information that was exposed, agency Chairman Jay Clayton said in a statement Wednesday night.

  • EU Seeks To Tax Online Businesses Where Profits Are Earned

    The European Union’s competition watchdog launched an agenda Thursday seeking agreement among the bloc's member countries to tax digital businesses where they earn profits, regardless of their physical location.

  • Waymo Pegs Uber Trade Secret Theft Harm At $2.6B

    Amid revelations on Wednesday that a Waymo-commissioned expert report estimated damages caused by Uber’s alleged trade secret theft at $2.6 billion, U.S. District Judge William Alsup accused the Alphabet spinoff of crying “crocodile tears” in seeking to delay trial over the purported theft of self-driving car technology.

  • J&J Blocking Remicade Biosimilar Sales, Pfizer Says

    Pfizer Inc. can't break into the market with its biosimilar version of Johnson & Johnson's blockbuster biologic Remicade, as J&J and its subsidiary Janssen Biotech Inc. have been holding on to a monopoly through a multifaceted anti-competitive campaign, Pfizer told a Pennsylvania federal court Wednesday.

  • Enviros Undo Calif.'s Approval Of New Pesticide Labels

    A California appeals court on Tuesday reversed a lower court’s decision in favor of the state’s Department of Pesticide Regulation in a suit by environmental groups challenging the approval of amended labels for two previously registered pesticides, saying the department’s efforts at environmental review were deficient.

  • Noncompete Valid But Not Violated, 7th Circ. Rules

    The Seventh Circuit ruled Wednesday that the former owner of a fuel-additive business didn’t violate a noncompete agreement he reached with the purchasers of his company when he subsequently sold his other firm and helped that buyer set up shop.

  • Miami Woman Gets 4 Years For Spa Silicone Injection Scheme

    A Florida federal judge Tuesday sentenced a local woman to more than four years in prison for her part in a conspiracy to inject illicit silicone smuggled from Colombia into the buttocks of hundreds of spa customers.

  • DOJ Says Madoff Victim Payouts To Begin By Year's End

    The U.S. Department of Justice said in a letter to U.S. Rep. Vern Buchanan, R-Fla., that victims of fraudster Bernie Madoff would begin to receive payouts from the department's Assets Forfeiture Fund by the end of the year, the congressman announced Wednesday.

  • SF, Oakland Sue Oil Giants Over Climate Change Costs

    San Francisco and Oakland, California, on Tuesday sued BP, Chevron, Exxon Mobil, ConocoPhillips and Shell, alleging the oil companies are responsible for infrastructure costs related to climate change events due to their “production of massive amounts of fossil fuels.”

  • CFPB Moves To Protect Borrower Info Under Mortgage Law

    The Consumer Financial Protection Bureau on Wednesday proposed changes to the information that lenders will have to provide under a mortgage disclosure law in a bid to protect the identities of borrowers.

  • $146M Deal In Aggrenox Pay-For-Delay MDL Gets Initial OK

    A Connecticut federal judge on Tuesday preliminarily approved a $146 million settlement between direct purchasers and pharmaceutical companies over the drugmakers’ alleged role in a scheme to block generic alternatives to the stroke-prevention drug Aggrenox from coming on the market.

  • Freeh Beats Ex-PSU Chief's Libel Suit Over Sandusky Report

    Former FBI director Louis Freeh and his law firm escaped defamation claims on Wednesday as a judge threw out a lawsuit from former Penn State University President Graham Spanier alleging that he’d been falsely smeared in a report from Freeh faulting his actions in the Jerry Sandusky sex-abuse scandal.

  • Toshiba Inks $17.9B Memory Sale To Bain-Led Group

    Toshiba said Wednesday it will sell its memory business to a consortium led by Boston-based Bain Capital for about 2 trillion yen ($17.9 billion) in an effort to forge a turnaround, a major step in a turbulent sales process steeped in litigation with the Japanese company’s joint venture partner.