Pennsylvania

  • January 14, 2008

    MBIA Faces Class Action Over $8.1B Loss Exposure

    Bond insurance giant MBIA Inc. has been hit with a shareholder class action alleging top executives hid the company's exposure to massive losses stemming from its coverage of residential mortgage-backed securities.

  • January 11, 2008

    Aetna Sues Express Scripts For Return Of $75M

    Aetna Inc. filed suit Thursday against Express Scripts Inc. and subsidiary CuraScript Inc., accusing the pharmacy benefit management companies of attempting to cheat the insurance giant out of the benefits of its bargain with Express Scripts subsidiary Priority Healthcare Corp.

  • January 11, 2008

    OFHEO Revamps Fraud Guidance For Lenders

    As part of an effort to crack down on mortgage fraud, the Office of Federal Housing Oversight has issued a new set of guidelines for the anti-fraud programs of government-sponsored lenders Freddie Mac and Fannie Mae.

  • January 10, 2008

    Pfizer Wins Dismissal Of Lipitor Class Action

    A proposed class action lawsuit that accused Pfizer Inc. of deceptively marketing its blockbuster cholesterol treatment Lipitor has been dismissed after more than two years of litigation in which the plaintiffs' claims were slowly winnowed down.

  • January 10, 2008

    Green Groups To Sue DOE Over Power Corridor Plans

    Following up on threats they made in December, nearly a dozen environmental groups on Thursday confirmed their plan to file suit against the Department of Energy over a power corridor development they claim violates several environmental laws.

  • January 8, 2008

    $13M Payday For Lawyers In Paint Price-Fixing MDL

    The plaintiffs' attorneys in a multidistrict antitrust action against Sherwin-Williams Co. and PPG Industries Inc. have won $13 million in fees, topping off a $39 million settlement they struck a year ago.

  • January 8, 2008

    Gov't Appeals Fraud Acquittal For Amkor Counsel

    Federal prosecutors have appealed a Pennsylvania district court's ruling that overturned a jury conviction against a former general counsel of Amkor Technology Inc. on three insider trading charges.

  • January 8, 2008

    Naps Prompt Probe Of NRC Procedures

    After a much-publicized video last year of security guards sleeping on the job at a nuclear power plant, the House Energy and Commerce Committee has announced plans to investigate how the Nuclear Regulatory Commission follows up on reports of improper conduct.

  • January 10, 2008

    IM Chats Get Cingular Off The Hook For Sex Bias

    A series of flirtatious Instant Messenger chats provided enough intimate details for a federal judge to write off allegations in a sexual discrimination suit brought by a former Cingular Wireless LLC temporary employee against the wireless company and her manager.

  • January 8, 2008

    King, CorePharma Settle Skelaxin Suit

    King Pharmaceuticals Inc. has dropped one of the infringement cases concerning its muscle relaxant Skelaxin, agreeing to grant a patent license allowing the defendant, CorePharma LLC, to manufacture a generic version of the drug, known as metaxalone, beginning in 2012.

  • January 7, 2008

    Settlement Clears Path To TD-Commerce Merger

    With their $8.5 billion merger in jeopardy, the Toronto-Dominion Bank and Commerce Bancorp Inc. have reached a settlement putting to rest a slew of shareholder suits filed in the wake of their October merger announcement.

  • January 7, 2008

    Hershey, Mars Plotted To Fix Chocolate Prices: Suit

    Three separate lawsuits filed within the past month accuse The Hershey Co. and other top candy companies of participating in a conspiracy to artificially inflate the price of chocolate.

  • January 4, 2008

    Global Home Ch. 11 Plan To Go Up For Vote

    A bankruptcy court has cleared the way for Global Home Products LLC to gain support for its reorganization plan that aims to recover at least $8.5 million for creditors.

  • January 7, 2008

    12 Jump From Miller Alfano To Drinker Biddle

    Gregory Miller and 11 other lawyers from Miller Alfano & Raspanti, P.C., have just joined the Philadelphia office of Drinker Biddle & Reath LLP in securities litigation.

  • January 4, 2008

    Comcast Hit With Suit Over Earnings Reports

    Comcast Corp. has been hit with a shareholder lawsuit alleging the cable provider intentionally misled investors in order to inflate stock prices, which fell dramatically after Comcast released a year-end earnings revision.

  • January 4, 2008

    Travelers Settles Securities Fraud Case for $77M

    Travelers Cos. Inc. has agreed to pay $77 million to put to rest a purported class action alleging insurance securities fraud resulting from the company's alleged involvement in a bid-rigging scandal, the New Mexico attorney general announced Thursday.

  • January 4, 2008

    Merck Scores As Judge Spurns New Fosamax Class

    Despite months of plaintiffs' lobbying, the federal judge overseeing the Fosamax product liability litigation has denied class status to patients who have yet to develop a painful jaw condition allegedly linked to the osteoporosis medication.

  • January 3, 2008

    Verizon-MCI Merger To Go Through In Pa.

    The Supreme Court of Pennsylvania has sided with the state utility commission, ruling that it was correct in approving Verizon Communications' purchase of MCI Inc. on the basis of likely public benefit.

  • January 3, 2008

    Effects of Stolt-Nielsen Case May Linger

    After the U.S. Department of Justice announced late last month that it won't pursue an appeal in its battle with Stolt-Nielsen over an amnesty agreement, the Norwegian shipping company is finally free of its years-long fight. But many antitrust attorneys caution that the unique case may have ripple effects for years to come.

  • January 2, 2008

    Travelers Cos. Settles Bid-Rigging Claims

    Travelers Companies Inc. agreed to pay $6 million to a multistate task force to resolve allegations that the company was involved in a bid-rigging and price-fixing plot in the commercial insurance market, the company and the Florida attorney general revealed Monday.