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Corporate

  • October 22, 2010

    SEC Deal Cuts Ex-Kmart CEO's $10M Hit In Half

    The U.S. Securities and Exchange Commission is asking a federal appeals court to approve a deal that slashes nearly $5 million from a $10 million judgment against former Kmart Corp. CEO Charles Conaway in a securities fraud suit alleging he misled investors about the company’s liquidity and inventory levels.

  • October 22, 2010

    FDA Issues Alert Over Chinese Crospovidone

    The U.S. Food and Drug Administration has found high levels of peroxide in one lot of the drug ingredient crospovidone made by China-based Tianjin Boai NKY International Ltd., the agency said.

  • October 21, 2010

    9th Circ. Rejects Mattel Rehearing Bid In Bratz Case

    A federal appeals court on Thursday denied Mattel Inc.’s request for a rehearing of its determination that the toy giant does not own the rights to MGA Entertainment Inc.’s Bratz doll-related intellectual property.

  • October 21, 2010

    Nadel Gets 14 Years For Ponzi Scheme, Blames Self

    A judge has sentenced admitted Ponzi schemer and former hedge fund manager Arthur G. Nadel to 14 years in prison for crimes associated with his defrauding of hundreds of investors out of as much as $162 million.

  • October 21, 2010

    UK Panel Urges Tougher M&A Laws After Kraft-Cadbury

    A committee tasked with reviewing the United Kingdom's mergers and acquisitions code in the wake of Kraft Foods Inc.’s controversial takeover of Cadbury PLC has recommended that would-be acquirers of British companies be forced to “put up or shut up” within four weeks of when the potential acquisition is publicly announced.

  • October 21, 2010

    DOJ, US Atty Subpoena GSK Over Avandia, HIV Drugs

    British drugmaker GlaxoSmithKline PLC disclosed Thursday that it was responding to federal subpoenas regarding its diabetes drug Avandia and three HIV products and that Foreign Corrupt Practices Act investigators had asked the company for information about its overseas activities.

  • October 21, 2010

    Toyota Recalls 1.5M Cars Over Brakes, Fuel Pumps

    Toyota Motor Corp. on Thursday agreed to voluntarily recall more than 1.5 million vehicles worldwide to examine possible brake and fuel pump defects, adding to the list of millions of other vehicles the company has recalled in the past year.

  • October 21, 2010

    Judge Reverses Verdict In KCI Wound Therapy IP Suit

    A federal judge has handed Smith & Nephew Inc. a resounding win against rival medical technology company Kinetic Concepts Inc., overturning a jury verdict and invalidating two patents Kinetic asserted against Smith & Nephew’s negative pressure wound therapy devices.

  • October 21, 2010

    BofA Loses Bid To Toss Wage-And-Hour MDL

    A federal judge overseeing a sprawling wage-and-hour multidistrict litigation brought by branch and call-center employees has denied Bank of America Corp.'s motion to dismiss, saying the plaintiffs' complaint was more than specific enough to proceed.

  • October 20, 2010

    Jury Sides Largely With Whirlpool In Lanham Act Case

    A federal jury largely found for Whirlpool Corp. on Wednesday in an $84.5 million false advertising case brought by rival LG Electronics USA Inc., saying Whirlpool did not infringe the Lanham Act and an Illinois consumer fraud statute in its advertising of clothes dryers.

  • October 20, 2010

    9th Circ. Stays 'Don't Ask, Don't Tell' Ban For Now

    A federal appeals court on Wednesday temporarily stayed an injunction barring the U.S. Department of Defense from enforcing its “don't ask, don't tell” policy, which prohibits gays and lesbians from serving openly in the military.

  • October 20, 2010

    FedEx Hit With $66M Verdict In ATA Contract Battle

    A federal jury has issued a $66 million verdict against FedEx Corp., finding that the company breached a valid long-term contract with ATA Airlines Inc. to provide service for military passengers.

  • October 20, 2010

    Former Greenberg Associate Admits To $500K Theft

    A former Greenberg Traurig LLP associate who specialized in bankruptcy and commercial foreclosure pled guilty Wednesday to federal charges related to a scheme to steal more than $500,000 from the firm.

  • October 20, 2010

    Common Benefit Attys To Get $315M From Vioxx Deal

    Attorneys from 109 law firms who performed common benefit work for plaintiffs in the product liability multidistrict litigation over Merck & Co. painkiller Vioxx will split a $315.2 million fees award, about 20 percent of the total attorneys' fees pool connected to a $4.85 billion settlement.

  • October 20, 2010

    Basel Panel Unveils Liquidity Standards For Banks

    The Basel Committee on Banking Supervision has announced that it will move by the end of 2010 to finalize rules that set new global standards on capital and liquidity requirements in order to help buffer banks from the types of sudden losses and liquidity shortages at the center of the recent financial crisis.

  • October 19, 2010

    Judge Greenlights DADT Ban Amid Appeal

    A federal judge has rejected the U.S. government's request to stay pending appeal a recent injunction banning the controversial “don't ask, don't tell” policy that prohibits gays and lesbians from openly serving in the military.

  • October 19, 2010

    Zynga Faces Privacy Suit On Behalf Of Facebook Users

    Zynga Game Network Inc. ran afoul of state and federal law — and violated an agreement with Facebook Inc. — by sharing users' personal information with advertisers and Internet marketing companies, according to a recently filed putative class action lawsuit.

  • October 19, 2010

    Jenkens Lawyer Pleads Guilty In Tax Shelter Case

    A shareholder with the now-defunct law firm Jenkens & Gilchrist APC pled guilty on Tuesday to helping wealthy clients escape tax liability by generating billions of dollars in phony losses, as well as to using those strategies to improve his own bottom line.

  • October 19, 2010

    Sanofi, Bristol-Myers Win $442M In Plavix Patent Suit

    A federal judge has ordered Apotex Inc. to shell out $442.2 million plus interest to drugmaker partners Sanofi-Aventis SA and Bristol-Myers Squibb Co. for infringing their patent for blockbuster blood-thinning medication Plavix.

  • October 19, 2010

    Snapple 'All Natural' Class Action Revived

    A federal judge has reopened a putative class action that claims Snapple Beverage Corp.'s labels mislead consumers, following the U.S. Food and Drug Administration's refusal to resolve whether high fructose corn syrup qualifies as an all-natural ingredient.