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Corporate

  • February 18, 2011

    Decision On $9B Chevron Judgment Delayed

    A federal judge in New York on Friday called for more information about the Ecuadorean judicial system before ruling on Chevron Corp.’s request for a preliminary injunction to block the enforcement of an $8.6 billion judgment over decades-old pollution claims.

  • February 17, 2011

    Stanford Accuses US Of Rights Violations

    Robert Allen Stanford, the indicted financier accused of running a $7 billion Ponzi scheme, filed a civil complaint against U.S. prosecutors and investigators Thursday, saying the federal government violated his constitutional rights and destroyed $7.2 billion in wealth.

  • February 17, 2011

    Feds Charge 114 In Massive Medicare Fraud Crackdown

    Federal prosecutors on Thursday charged 114 people in nine cities — including doctors, nurses, and owners and executives of health care companies — in what they said was their largest-ever federal health care fraud takedown.

  • February 17, 2011

    Spill Report Says BP Knew About Halliburton Trouble

    The chief counsel of a presidential investigatory commission on the Deepwater Horizon oil spill said Thursday that BP PLC knew of problems with work performed by contractor Halliburton Co. but failed to take steps to address suspected inadequacies.

  • February 17, 2011

    Borders Wins OK To Hand 200 Stores To Liquidators

    A bankruptcy judge on Thursday cleared Borders Group Inc.'s plan to close 200 stores, allowing the book retailer to hand over the locations to liquidators who are eager to launch going-out-of-business sales as soon as this weekend.

  • February 17, 2011

    Satyam Coughs Up $125M To Exit Securities MDL

    Indian information technology company Satyam Computer Services Ltd. has agreed to pay $125 million to exit a multidistrict securities litigation alleging it cost investors billions of dollars by inflating its value.

  • February 17, 2011

    Ex-Hevesi Aide Hit With Jail Time For Kickback Scheme

    A New York judge sentenced a tearful Henry Morris, former adviser to New York State Comptroller Alan Hevesi, to up to four years in prison Thursday morning for his involvement in corruption at the state’s largest pension fund.

  • February 17, 2011

    EU Lawmakers Pass Landmark S. Korea FTA

    European lawmakers signed off on the European Union's free trade agreement with South Korea Thursday, paving the way for the two governments to eliminate almost all of their import duties on each other's industrial and agricultural products within five years.

  • February 16, 2011

    Picard Never Met Madoff, Atty Says

    Irving Picard, the trustee liquidating Bernard L. Madoff's investment company, has never directly met the jailed Ponzi schemer, his attorney said Wednesday, sidestepping new questions about whether Picard's team worked with Madoff to recover investors' money.

  • February 16, 2011

    CalPERS Confirms Criminal Placement Agent Probe

    The California Public Employees’ Retirement System, the largest public pension fund in the nation, has acknowledged that federal prosecutors are conducting a criminal investigation into whether placement agents collected illegal fees to influence the fund's investment decisions.

  • February 16, 2011

    Novo Nordisk Faces Criminal Probe Over Diabetes Drugs

    Novo Nordisk A/S said Wednesday that U.S. prosecutors had served it with a subpoena for documents related to potential crimes involving the marketing and promotion of three of its diabetes drugs.

  • February 16, 2011

    KBR Subsidiary To Pay $11M Over UK Bribery Charges

    A U.K. subsidiary of KBR Inc. has reached an $11.2 million settlement in a suit brought by British regulators over profits received from a bribery scheme for natural gas contracts in Nigeria from 1994 to 2004.

  • February 16, 2011

    Rajaratnam Loses Last-Minute Wiretap Exclusion Bids

    Defense counsel for insider trading defendant Raj Rajaratnam have lost last-minute bids to bar prosecutors from playing at trial wiretap recordings in which alleged co-conspirators purportedly are vague about the sources of inside tips or are fabricating information.

  • February 16, 2011

    Bankrupt Borders Wins Access To $400M In Funds

    Borders Group Inc. won approval Wednesday to tap $400 million in financing from a group of lenders including General Electric Capital Corp., fast on the heels of the bookseller's filing for Chapter 11 protection.

  • February 15, 2011

    Judge Delays $5B Del Monte Deal, Rips Barclays

    A Delaware judge has delayed a shareholder vote on the proposed $5.3 billion leveraged buyout of Del Monte Foods Co. over evidence the company’s financial adviser, Barclays Capital, manipulated the sale to reap fees on both ends of the deal.

  • February 15, 2011

    Air Products Suffers Defeat As Airgas Poison Pill Upheld

    A Delaware judge refused Tuesday to invalidate the poison pill that stalled Air Products and Chemicals Inc.'s $5.9 billion hostile bid for rival Airgas Inc., issuing his ruling on the day Air Products' offer was set to expire.

  • February 15, 2011

    AP's Copyright Suit Over Obama Image Heads To Trial

    A federal judge has opted to send the Associated Press' copyright infringement claims over T-shirts that feature an iconic image of President Barack Obama to a jury, while nixing the shirt seller's fair use defense.

  • February 15, 2011

    NC Asks High Court To Review $1B TVA Emission Ruling

    North Carolina has asked the U.S. Supreme Court to review its loss in a case that nearly required the Tennessee Valley Authority to spend $1 billion to install emissions controls at four coal-fired power plants in Alabama and Tennessee.

  • February 15, 2011

    Vodafone, Orange Face €63M In Antitrust Fines

    Romania’s antitrust watchdog on Tuesday fined France Telecom SA’s Orange and Vodafone Group PLC more than €63 million ($85 million) for keeping a lower-priced rival from using their networks.

  • February 14, 2011

    Best Buy Faces Trade Secrets Suit Over Buy-Back Plan

    A startup company has accused Best Buy Co. Inc. of stealing the idea for its much-hyped electronics buy-back program in violation of a confidentiality agreement.