New York

  • March 21, 2008

    Northwest Employees Settle Prepetition Grievances

    A court approved a settlement between Northwest Airlines Inc. and the union representing its machinists and other employees on Thursday, granting the union a $3 million unsecured claim on Northwest's estate and $1 million in administrative expenses.

  • March 21, 2008

    Scruggs' Son Signs Plea Agreement In Bribery Case

    David Zachary Scruggs, son of the now-infamous Richard “Dickie” Scruggs, signed a plea agreement Friday acknowledging his part in the much-publicized bribery scandal.

  • March 21, 2008

    Sentinel Files $550M Fraud Suit Against Auditor

    Accounting firm McGladrey & Pullen LLP not only failed to detect the fraud at bankrupt financial services company Sentinel Management Group Inc. but also aided and abetted the scheme, according to a new adversary proceeding filed by the bankruptcy trustee in Sentinel's Chapter 11 case. The suit demands $550 million in damages.

  • March 21, 2008

    China Vows Closer Oversight Of Heparin Producers

    China's drug safety agency changed course Friday in response to the U.S. Food and Drug Administration's discovery that a dangerous contaminant in heparin could be traced to Chinese suppliers, saying that it would tighten controls on heparin production.

  • March 24, 2008

    BP's Russian Oil Venture Faces Environmental Probe

    In a one-two punch to BP's Russian oil venture, Moscow's environmental watchdog said Friday it would launch an investigation into the company's biggest oil field one day after Russian authorities revealed they had arrested an TNK-BP employee and his brother on charges of industrial espionage.

  • March 24, 2008

    Judge Nixes Synthes Bone-Plate Patent Suit

    A judge has dismissed a patent dispute between medical device maker Synthes and Brazilian firm GM Dos Reis Jr. Ind. Com. De Equip. Medico over locking bone plates, finding that the case lacks jurisdiction in California federal court.

  • April 2, 2008

    Some Employment Rights Still Foggy For Expats

    As businesses expand their presence in Europe, Asia and the Middle East, the United States work force has grown ever more globally mobile. And with employees moving to international branches, federal and state employment laws have followed, raising new questions about who is entitled to American-brand protections and when they can be applied.

  • March 20, 2008

    Ameritrade, Wachovia Sued Over Auction Rate Sales

    In the wake of the collapse of the auction rate securities market last month, two more investment banks have been hit with lawsuits alleging that they misled investors about the investment vehicles.

  • March 20, 2008

    PBGC Seeks To Enter Delta Pension Fray

    Delta Airlines Corp. may have emerged from bankruptcy, but the reorganized carrier is still wrangling with a handful of retired pilots over the termination of their pension plans, with the U.S. Pension Benefit Guaranty Corporation anxious to get involved.

  • March 20, 2008

    Judge Tosses Claims Against AspenTech Trio

    Former top executives of Aspen Technology Inc. have convinced a federal judge to dismiss a slew of claims in a lawsuit brought by major shareholders alleging the trio painted a rosy, and inaccurate, picture of the company's financial health.

  • March 20, 2008

    Weiss Agrees To Admit Role In Kickback Scheme

    Melvyn Weiss, who rose to fame for spearheading high-stakes shareholder litigation, will avoid trial by agreeing to plead guilty to taking part in a profitable kickback scheme that has rocked the reputation of Milberg Weiss LLP, federal prosecutors and his lawyer said Thursday.

  • March 20, 2008

    Ex-New Century Workers Urge Court To Unseal Report

    Former New Century Financial Corp. employees have slammed calls by creditors to keep secret the results of a probe into the subprime lender's accounting, saying the report is needed to weigh the odds of successfully suing over the lender's downfall.

  • March 20, 2008

    Delphi Secures 'Prophylactic' Plan Extension

    Acceding to Delphi Corp.'s “abundance of caution,” the judge overseeing the auto parts maker's Chapter 11 case has extended its exclusivity to submit a reorganization plan until the end of May, even though Delphi's plan has already been approved.

  • March 20, 2008

    ITC Probes Sony In LED Patent Case

    The U.S. International Trade Commission has opened an investigation into whether more than 30 major electronics companies, including Sony Corp., infringed a Columbia University professor’s technology covering short-wavelength light-emitting diodes and laser diodes.

  • March 21, 2008

    Construction Co. Settles Race Bias Suit For $1.5M

    Construction company Washington Group International has agreed to fork over $1.5 million to a group of black workers who sued for racial harassment and retaliation.

  • March 24, 2008

    Bryan Cave Creates Subprime Lending Team

    Responding to the growing crisis in the debt market, law firm Bryan Cave LLP has launched a subprime lending team to tackle the wide variety of complications clients may face as a result of the widening credit crunch.

  • March 24, 2008

    Northwest Creditors Fight Veto Of $4M Success Fee

    Creditors of Northwest Airlines Corp. are appealing a bankruptcy judge's rejection of their consultants' bid to receive almost $4.3 million in so-called success fees.

  • March 20, 2008

    Northeast Utilities, ConEd Settle Suit For $50M

    Northeast Utilities has resolved a prolonged dispute with Consolidated Edison Inc. over an aborted $7.5 billion merger plan, agreeing to pay $50 million to settle the suit, ConEd announced Wednesday.

  • March 20, 2008

    School Consultant Gets Prison For Bid-Rigging

    A judge sentenced a former education consultant to 7 ½ years behind bars Wednesday after she was convicted of 22 counts of fraud, bid-rigging and conspiracy to commit wire fraud in connection with a federal program to connect school districts and libraries to the Internet.

  • March 20, 2008

    Peruvians' Toxic Tort Is Removed To State Court

    A federal judge has agreed with a group of Peruvian children who were allegedly injured by exposure to toxins at a smelting plant in La Oroya, Peru, that their tort claims against the American companies who control the site should be removed from federal to state court.