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Corporate

  • June 11, 2010

    Casey's Accuses Couche-Tard Of Pump, Dump Scheme

    Casey’s General Stores Inc. is fighting back against the $1.9 billion hostile takeover bid made by Alimentation Couche-Tard Inc., accusing the Canadian convenience store chain in a lawsuit of engaging in an “egregious market manipulation scheme” to deflate the price of Casey's.

  • June 11, 2010

    SEC Settles With Trader In Watley Squawk Box Suit

    The U.S. Securities and Exchange Commission has reached a settlement with a securities trader accused of participating in a so-called squawk box insider trading scheme at A.B. Watley Group Inc.

  • June 11, 2010

    Congress OKs Bill To Pay Oil Spill Claims Up To $100M

    The U.S. House of Representatives has sent President Barack Obama a bill that would authorize the advance payment of claims of up to $100 million each from the Oil Spill Liability Trust Fund for companies, agencies and individuals affected by the ongoing BP PLC oil spill.

  • June 11, 2010

    RIM, Motorola Lay Down Swords In Patent War

    BlackBerry maker Research In Motion Ltd. and Motorola Inc. announced a deal Friday to end their bitter, long-running feud in federal courts and the U.S. International Trade Commission over RIM's alleged infringement of a range of Motorola patents.

  • June 10, 2010

    SEC Strikes At Alleged $300M Gold Mine Ponzi Scheme

    Federal regulators on Thursday pounced on an alleged $300 million Ponzi scheme run by the owners of Syndicated Gold Depository SA and numerous associates, including two Florida attorneys, that duped thousands of investors in a sham gold mining operation.

  • June 10, 2010

    Jury Indicts Money Manager Starr On 22 Fraud Counts

    A federal grand jury has indicted Kenneth Ira Starr, a financial adviser to numerous celebrities and high-net-worth individuals, on 22 criminal fraud charges and one count of money laundering associated with an alleged $59 million scheme to siphon funds away from his clients.

  • June 10, 2010

    Senate Rejects Bid To Block EPA Emissions Rules

    The U.S. Senate on Thursday rejected a resolution that would have blocked the U.S. Environmental Protection Agency from regulating greenhouse gas emissions under the Clean Air Act, though more challenges to the agency's authority may be on the way.

  • June 10, 2010

    Antitrust Regulators May Probe Apple App Ad Policy

    U.S. antitrust authorities are reportedly considering a probe into whether Apple Inc.'s ad policies for applications designed for its popular iPhone, iPod and iPad devices unfairly limit Google Inc. and other rival technology companies' access to that advertising market.

  • June 10, 2010

    Taiwan LCD Giant Charged In $500M Price-Fixing Scam

    A federal grand jury in San Francisco has returned a superseding indictment against AU Optronics Corp., charging the Taiwanese thin-film transistor liquid crystal display panel producer, a U.S. subsidiary and six executives with participating in a $500 million price-fixing scheme.

  • June 10, 2010

    SEC Adopts Circuit Breaker Rule For S&P 500 Stocks

    The U.S. Securities and Exchange Commission said Thursday that stock exchanges and the Financial Industry Regulatory Authority will have to develop a circuit breaker mechanism for stocks in a bid to prevent a repeat of the wild stock market gyrations of May 6.

  • June 10, 2010

    GE Recalls 181,000 Washers For Fire, Shock Risk

    General Electric Co. is pulling roughly 181,000 front-loading washing machines from the market due to potential fire and shock hazards, the company and the U.S. Consumer Product Safety Commission announced Thursday.

  • June 10, 2010

    SEC Puts Another Goldman CDO Under Spotlight

    The U.S. Securities and Exchange Commission is reportedly ramping up a probe into another complex mortgage-backed deal crafted by Goldman Sachs Group Inc., on the heels of a civil suit filed against the financial giant in April over a separate agreement.

  • June 9, 2010

    Fed. Circ. To Rehear Rambus Shredding Cases

    The U.S. Court of Appeals for the Federal Circuit has ordered a rehearing of arguments in two semiconductor patent cases involving Rambus Inc., which was accused of improperly destroying documents prior to the litigation.

  • June 9, 2010

    Senate Committee Approves Auto Safety Bill

    In the wake of Toyota Motor Corp.'s recalls over faulty break systems, a U.S. Senate committee on Wednesday approved a bill that would require carmakers to meet new safety standards and would double funding for the federal agency overseeing automobile safety.

  • June 9, 2010

    US Accuses 13 Of Running $12M Boiler Room Scheme

    The U.S. government has charged 13 people, including Realcast Corp. CEO and former U.S. Securities and Exchange Commission employee Steven Kimmel, of defrauding investors of more than $12 million in a boiler room scheme.

  • June 9, 2010

    U-Haul Settles FTC's Collusion Allegations

    U-Haul International Inc. reached a settlement with the Federal Trade Commission on Wednesday, resolving allegations that the company had invited its rival Avis Budget Group Inc. to collude on prices for truck rentals.

  • June 9, 2010

    Hedge Fund Sues Goldman For $1.6B Over CDO Sales

    Australian hedge fund Basis Yield Alpha Fund launched a $1.6 billion lawsuit against Goldman Sachs Group Inc. on Wednesday, alleging the beleaguered investment giant misrepresented subprime mortgage-backed securities as a good investment while knowing the move would likely drive the hedge fund to insolvency.

  • June 9, 2010

    Iran Hit With New UN Sanctions Over Nuclear Efforts

    The United Nations Security Council passed new sanctions against Iran on Wednesday in an effort to curtail the country's nuclear ambitions, banning more weapons sales, restricting Iranian banks abroad and making more companies subject to the embargo.

  • June 9, 2010

    Rothstein Gets 50 Years For $1.2B Scheme

    A judge sentenced convicted Ponzi schemer and disgraced former attorney Scott W. Rothstein on Wednesday to 50 years behind bars and ordered him to forfeit his assets — a harsher punishment than the prosecution had requested.

  • June 9, 2010

    US Atty Claims Gryphon's Lawyer Part Of $17.5M Scam

    Prosecutors asked a federal court Wednesday to disqualify a defense attorney for accused Staten Island, N.Y., securities fraudster Kenneth Marsh, arguing that the lawyer was a participant in the $17.5 million scheme.