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Corporate

  • February 1, 2011

    Ex-New Castle Exec To Pay $3.5M In SEC's Galleon Suit

    New Castle Partners LLC co-founder Mark Kurland has agreed to turn over more than $3.5 million in a U.S. Securities and Exchange Commission suit related to insider trading charges involving his hedge fund and Galleon Group LLC.

  • February 1, 2011

    SEC Probes Harrisburg's Disclosures To Bond Investors

    The U.S. Securities and Exchange Commission is investigating information that officials from Pennsylvania's debt-ridden capital Harrisburg provided to investors in the municipal bond market.

  • February 1, 2011

    Grand Wailea Owner Seeks Ch. 11 Amid Foreclosure

    The owner of Hawaii-based Grand Wailea Resort Hotel & Spa and 29 other subsidiaries associated with luxury hotels have filed for Chapter 11 after a lender group that includes affiliates of hedge fund Paulson & Co. Inc. took control of them through a foreclosure auction.

  • February 1, 2011

    Defense Bar Urges High Court To Nix Wal-Mart Class

    A coalition of more than 22,000 defense trial lawyers and corporate counsel is backing Wal-Mart Stores Inc. in its quest to have the U.S. Supreme Court overturn class certification in a massive employment discrimination case.

  • February 1, 2011

    Investor Sues Over Verizon's $1.4B Bid For Terremark

    A Terremark Worldwide Inc. investor has launched a proposed class action in hopes of blocking Verizon Communications Inc.'s takeover of the software company, claiming the telecom giant's $1.4 billion offer severely undervalues the cloud computing specialist.

  • January 31, 2011

    Nutter Atty To Aid Mass. In SEC Goldman-Cahill Probe

    Nutter McClennen & Fish LLP partner Ian D. Roffman has been hired to coordinate the Massachusetts state treasurer's response to an inquiry by U.S. securities regulators into the relationship between Goldman Sachs Group Inc. and former treasurer Timothy Cahill's ex-staffers.

  • January 31, 2011

    Google Nabs House Antitrust Counsel Amid ITA Cloud

    Google Inc. has hired Stewart Jeffries, the antitrust counsel for Republican U.S. representatives, as it faces a possible federal challenge to its $700 million acquisition of ITA Software Inc.

  • January 31, 2011

    Fla. Judge Strikes Down Health Care Law

    A federal judge in Florida ruled Monday that the entire federal health care law must be voided because its provision requiring individuals to buy health insurance or pay a penalty is unconstitutional, siding with 26 states challenging the divisive statute.

  • January 31, 2011

    GSK Settles Wrongful Death Suit In Avandia MDL

    GlaxoSmithKline PLC has settled with the family of an Avandia patient who died of a heart attack in 2006, dodging the possibility of a large jury award in the first case a part of multidistrict litigation to go to trial.

  • January 31, 2011

    McKinsey Cries Foul Over Rajaratnam Subpoena

    The management consulting firm McKinsey & Co. Inc. has called a subpoena issued by Galleon Group LLC co-founder Raj Rajaratnam nothing more than a "fishing expedition" on the eve of his trial over criminal insider trading allegations.

  • January 31, 2011

    Airbus Claims Victory In Boeing Row After WTO Report

    Airbus SAS asserted Monday that new reports from the World Trade Organization represent a win for the company in the trans-Atlantic feud over U.S. and European governmental subsidies to Boeing Co. and Airbus, respectively.

  • January 31, 2011

    HR Manager Hits Toshiba With Sex Bias Action

    The human resources manager at Toshiba Corp.'s American nuclear energy subsidiary slapped the Japanese electronics company with a sex discrimination class action Monday.

  • January 31, 2011

    Judge Hits Minn. Ponzi Mastermind With $85M Penalty

    A Minnesota day trader serving a nearly 10-year prison sentence for scamming investors out of over $21.5 million was hit with an additional $85 million penalty in a civil case stemming from the Ponzi scheme.

  • January 28, 2011

    Taco Bell Tries To Take Bite Out Of Beef Suit With Ads

    Taco Bell Corp. rolled out a major advertising push Friday to counter a new class action alleging it misled consumers about the content of its beef, but attorneys were split on whether the campaign would help or hinder its efforts in court.

  • January 28, 2011

    Disney Secretary's Boyfriend Gets 2 Years In Fraud Plot

    A judge on Friday sentenced the boyfriend of a former Walt Disney Co. executive assistant to a little over two years in prison for trying to sell the company's financial information to Wall Street traders ahead of its public release.

  • January 28, 2011

    Ala. High Court Upholds $3B Scrushy Fraud Verdict

    Incarcerated HealthSouth Corp. founder Richard Scrushy has lost an appeal of a $2.9 billion judgment against him in a shareholder derivative action over his role in a fraud that almost destroyed the company.

  • January 27, 2011

    Judge Likely To Rule On Airgas Poison Pill Feb. 8

    A Delaware judge has all of the evidence he needs to decide whether to invalidate the poison pill that has stalled Air Products and Chemicals Inc.’s $5.9 billion hostile bid for rival Airgas Inc., but a ruling will not come until at least February.

  • January 27, 2011

    US Sues Guidant Over Defective Defibrillators

    The U.S. has intervened in a False Claims Act suit accusing Boston Scientific Corp. and its Guidant subsidiaries of selling defective cardiac implants knowingly to Medicare patients, on the heels of Guidant's guilty plea to related criminal charges.

  • January 27, 2011

    Sony Wins TRO Against Alleged PlayStation Hacker

    A federal judge Thursday granted Sony Computer Entertainment America LLC 's request for a temporary restraining order against alleged PlayStation 3 hacker George Hotz.

  • January 27, 2011

    US, South Korea Finalize Details On Trade Deal

    The U.S. and South Korea have finalized the language of their pending free trade deal, moving the accord closer to a vote by the legislatures in each country.