Pennsylvania

  • March 9, 2006

    SEC Claims Firm Diverted More Than $9M From Funds

    The U.S. Securities and Exchange Commission has accused the venture capital firm Keystone Venture Management Holdings Inc. of scheming to misappropriate more than $9 million in funds, the majority of which were public pension funds.

  • March 7, 2006

    Lumber Companies Allege Strand Board Conspiracy

    Several class action suits have been filed against North American producers of oriented strand board, with wholesale lumber companies lobbing allegations of conspiracy and price fixing at the strand board makers.

  • March 3, 2006

    Relational Strikes Back At Controversial State Law

    Sovereign Bancorp Inc.’s largest shareholder, Relational Investors LLC, has sued the state of Pennsylvania, Governor Ed Rendell and legislative leaders for ushering in a widely criticized law that offers protection to Sovereign’s executives and directors against a shareholder challenge, charging that the state legislature bent its own rules to ensure the bill’s swift passage.

  • March 3, 2006

    Agere Socks Sony With Wide-Ranging Lawsuit

    Chip maker Agere Systems has whacked electronics giant Sony Corporation with an expansive lawsuit, alleging extensive infringement of its technology patent portfolio.

  • February 27, 2006

    Federal Circuit Deals Blow To Glaxo In Patent Fight

    Generic pharmaceutical company Apotex Inc. has received a boost from a federal appeals court in its ongoing patent dispute with drug maker GlaxoSmithKline Plc. involving the widely-used antidepressant drug Paxil.

  • February 22, 2006

    Court Allows Sovereign Legal Battle To Continue

    In a move that will allow the largest shareholder in Sovereign Bancorp to press on with its legal assault against a controversial merger deal, a judge has handed down a ruling that mildly reprimands Relational Investors but leaves the shareholder with most of its legal arsenal intact.

  • February 17, 2006

    Legislators Prompt Sovereign Shareholder To Pull Suit

    Citing a widely criticized Pennsylvania law recently enacted to aid Sovereign Bancorp Inc., the company's largest shareholder abandoned one of its lawsuits against the bank this week.

  • February 17, 2006

    KPMG Refused To See Red Flags: SEC

    The Securities and Exchange Commission has accused auditors at KPMG of "refusing" to recognize red flags while appraising the financial health of a unit of Dutch grocery giant Royal Ahold NV, which recently paid $1.1 billion to settle an accounting fraud class action lawsuit.

  • February 16, 2006

    Counterfeiting Crack-Down Bill Sails Through Senate

    A version of a bill that would crack down on knock-offs and add mandatory destruction provisions to trademark law in an attempt to fight counterfeiting of manufactured goods was approved by the Senate this week, paving the way for greater trademark protection for U.S. manufacturers.

  • February 14, 2006

    Controversial Sovereign Bill Passes, Angering Investors

    A widely criticized bill that offers protection to executives and directors of Pennsylvania’s Sovereign Bank against a shareholder challenge was signed into law by the governor last week amid opposition from shareholders and charges that the state legislature bent their own rules to ensure the bill’s swift passage.

  • February 14, 2006

    Stem Cell Patent Battle Brewing Over Korean Research

    An international battle over valuable patents for stem cell research is brewing between one-time collaborators in South Korea and the United States who have filed competing patent applications despite the public collapse of the research’s reliability.

  • February 7, 2006

    Lerach Tops Milberg, Ranks #1 In Plaintiffs Firm Survey

    A bitter breakup with his former mentor and a pesky federal investigation into alleged rewards for lead plaintiffs haven’t stopped William Lerach from cementing his position as the dean of the securities litigation plaintiffs bar.

  • February 2, 2006

    Sovereign Investors Blast Move By State Legislature

    In a secretive overnight vote, Pennsylvania legislators have rushed through a bill that makes a deep dent in shareholders' campaign to block Sovereign Bankcorp.'s three-way deal with a Spanish bank and a New York thrift.

  • January 31, 2006

    Matsushita Sues Samsung Over DRAM Patents

    In the latest chapter in a drawn-out battle fought in courtrooms on two continents, Matsushita Electric Industrial Co. has sued Samsung Electronics Co. Ltd. in a Texas federal court, accusing the South Korean rival of infringing patents for memory chip technology.

  • January 25, 2006

    Sovereign Motion Dismissed in Court Amid Verbal Blitz

    A fusillade of filings, accusations, lawsuits and counterstrikes between Sovereign Bancorp. and its largest institutional investor has led a federal judge to order the combatants to curb their public attacks on each other and stop filing papers, while also killing a motion by the Philadelphia company to dismiss two lawsuits by its shareholder.

  • January 20, 2006

    Calpers Seeks SEC Muscle in Sovereign Bank Spat

    The California Public Employees' Retirement System (Calpers), the nation’s largest public pension fun, has joined the tug-of-war between Sovereign Bancorp Inc. and a growing group of institutional investors over a complicated deal that involves selling 20% of the company’s shares to a Spanish bank.

  • January 19, 2006

    Gibson Dunn Snags NASD Enforcement Chief

    The securities litigation practice at Gibson Dunn & Crutcher will soon have an even better understanding of the inner workings of securities regulators, with former head of the National Association of Securities Dealers enforcement division Barry Goldstein as the firm’s latest hire.

  • January 10, 2006

    Sovereign Seeks SEC Aid In Battling Investor

    Sovereign Bancorp Inc. has asked the Securities and Exchange Commission to investigate a claim by its largest shareholder that the bank failed to disclose business ties with the author of an editorial that backed its controversial takeover bid.

  • January 9, 2006

    Supreme Court Eyes Glaxo's Paxil Appeal

    In a fresh sign that intellectual property matters will weigh heavily at the U.S. Supreme Court this year, justices have asked the Bush administration's solicitor general for advice while considering the appeal of U.K. drug maker GlaxoSmithKline Plc over its antidepressant Paxil.

  • January 5, 2006

    Shareholder Tweaks Suit After Sovereign Delays Meeting

    A move by Sovereign Bancorp Inc. to delay its annual meeting by several months has enraged its largest shareholder, which claims the company’s management is trying to push through a complicated merger deal without the support of investors.