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Corporate

  • September 13, 2010

    Citi Urges Judge To Approve $75M Deal With SEC

    Citigroup Inc. told a judge Monday that she should approve the bank's $75 million settlement with the U.S. Securities and Exchange Commission over allegations that the bank failed to fully disclose the extent of its exposure to subprime mortgages, saying the deal is “fair, adequate and reasonable.”

  • September 13, 2010

    Leahy Looks To Fast-Track New Food Safety Penalties

    Senate Judiciary Committee chairman Patrick Leahy, D-Vt., introduced legislation Monday to strengthen criminal sentences for food safety violators, aiming to push through tougher penalties alongside comprehensive food safety legislation scheduled to hit the U.S. Senate floor this fall.

  • September 13, 2010

    Ex-IBM Exec Gets 6 Months For Role In Galleon Ring

    A federal judge sentenced former IBM Corp. executive Robert Moffat Jr. on Monday to six months in prison for passing along tips to alleged Galleon Group insider trading ring co-conspirator Danielle Chiesi, despite arguments that Moffat should be treated leniently because his tips didn't generate profits.

  • September 13, 2010

    SunTrust, Morgan Stanley, Merrill Dodge Securities Suit

    A federal judge has dismissed a proposed securities class action against SunTrust Banks Inc., Morgan Stanley & Co. Inc., Merrill Lynch & Co. Inc. and UBS Securities LLC, saying plaintiff Belmont Holdings Corp. failed to properly allege it was misled about SunTrust's financial state.

  • September 13, 2010

    HP Buying Spree Continues With $1.5B ArcSight Deal

    Continuing its recent corporate shopping spree, computer maker Hewlett-Packard Co. on Monday announced plans to purchase security and compliance software maker ArcSight Inc. for $1.5 billion.

  • September 10, 2010

    3rd-Party Payor Class Nixed In Lilly Zyprexa Appeal

    A federal appeals court reversed an order Friday that granted class certification to a group of insurers, labor unions and pension funds that say they overpaid for the antipsychotic drug Zyprexa given that Eli Lilly & Co. didn't reveal the drug's adverse side effects.

  • September 10, 2010

    9th Circ. Upholds Chevron Win In Protester Killing Case

    A federal appeals court has upheld a jury's verdict against a group of Nigerians who alleged Chevron Corp. was liable for a fatal standoff between the Nigerian military and demonstrators protesting the oil company's hiring practices.

  • September 10, 2010

    NTSB Begins Probe Of Fatal Calif. Gas Pipeline Blast

    The National Transportation Safety Board has launched an investigation into the explosion of a Pacific Gas & Electric Co. natural gas pipeline that killed at least four people and destroyed dozens of homes in a suburb of San Francisco.

  • September 10, 2010

    Money Manager Starr Pleads Guilty To Fraud Scheme

    Now-infamous money manager Kenneth Ira Starr pled guilty Friday to stealing from his clients and giving misleading investment information, putting him up against a maximum sentence of 45 years in prison along with possible fines and forfeiture topping $50 million.

  • September 10, 2010

    Mylan Loses Bid To Toss Daiichi Benicar Patent

    A federal appeals court has upheld an injunction banning Mylan Pharmaceuticals Inc. from making generic versions of Daiichi Sankyo Co. Ltd.'s Benicar and Azor until a patent for the hypertension drugs expires in 2016, ruling that the patent is not obvious.

  • September 10, 2010

    Alaska Gov. Says DOI Illegally Banned Arctic Drilling

    Alaska Gov. Sean Parnell has filed suit against the U.S. Department of the Interior, claiming it issued an illegal ban on exploratory oil drilling in the Arctic despite previous support for the practice.

  • September 10, 2010

    Plaintiff Denied Mandamus In Google Android IP Spat

    A software business owner has lost his bid for a writ of mandamus in his suit alleging Google Inc.'s Android mobile device operating system infringes his trademarks for the name Android with respect to software.

  • September 9, 2010

    9th Circ. Nixes Boeing Torture Suit Over State Secrets

    A federal appeals court has dismissed a case alleging a Boeing Co. unit delivered five men to CIA interrogation sites and foreign prisons where they were tortured, ruling that any further litigation would put state secrets at risk.

  • September 9, 2010

    EBay Overturns Craigslist Poison Pill Plan

    EBay Inc. has won its securities dilution suit alleging Craigslist Inc. officers improperly weakened its stake as a minority partner in the online network in response to eBay's launch of rival classified site Kijiji in 2007.

  • September 9, 2010

    Barnes & Noble Hits Back At Burkle's Bid For Power

    Barnes & Noble's board of directors on Thursday urged shareholders to resist proposals by billionaire investor Ronald Burkle to change the board's membership and alter the current shareholder rights plan.

  • September 9, 2010

    Bank VP 7th To Plead Guilty In Muni Bond Probe

    A former senior vice president at an unnamed national bank pled guilty Thursday to taking part in bid-rigging and fraud conspiracies related to contracts for investing municipal bond proceeds, marking the seventh plea deal to arise from a federal probe into the municipal bond industry.

  • September 9, 2010

    DC Circ. Temporarily Lifts Stem Cell Funding Ban

    An appellate court ruling has temporarily stayed a preliminary injunction barring the federal government from funding human embryonic stem cell research.

  • September 9, 2010

    Judge Won't Block $1.2B Dollar Thrifty-Hertz Deal

    A judge has refused to block a proposed $1.2 billion merger between Dollar Thrifty Automotive Group Inc. and fellow car rental company Hertz Global Holdings Inc., saying the Dollar Thrifty board acted reasonably even though Avis Budget Group Inc. made a higher offer.

  • September 9, 2010

    Briefs Pile Up In Cat's Paw Case As Kagan Recuses

    Associate Justice Elena Kagan has recused herself from a closely watched case concerning whether employers can be held liable for unlawful discrimination by an official other than the primary decision-maker.

  • September 9, 2010

    Coke Bottler Settles Suit Over $12B Merger

    Bottling company Coca-Cola Enterprises Inc. has agreed to settle consolidated class actions brought by shareholders over its planned $12.3 billion merger with The Coca-Cola Co., saying it didn't want the pending litigation to delay the transaction further.