Pennsylvania

  • March 22, 2006

    Supreme Court Throws Out NFL Antitrust Case

    A Pittsburgh man who attempted to take on the National Football League, claiming the Pittsburgh Steelers and other NFL franchises have used their monopoly power to bully taxpayers into footing the bill for stadium construction, will not get the chance to fight the dispute in the high court.

  • March 20, 2006

    Zurich American Settles In Bid-Rigging Dust-Up

    The Zurich American Insurance Company agreed to shell out $171.7 million as part of a settlement deal with Texas and a host of other states, putting an end to charges that it engaged in commercial insurance bid-rigging and price-fixing.

  • March 20, 2006

    Google Prevails In Copyright Suit Over Sex Guide

    The latest attempt to harness Google Inc. has ended in a minor win for the Internet search company, which prevailed against an online publisher of sexual seduction guides who claimed Google’s Web search systems infringed his copyrights.

  • March 16, 2006

    Relational Taps Former SEC Chair To Advise On Sovereign

    Sovereign Bancorp Inc.’s largest shareholder, Relational Investors LLC, has hired former U.S. Securities and Exchange Commission chairman Richard Breeden to act as an advisor as part of its efforts to secure two seats on the Sovereign board and promote a number of governance reforms.

  • March 15, 2006

    Two CVS Execs Resign After Internal Accounting Probe

    Following an internal review of CVS Corp.’s accounting for a transaction in 2000, the controller and the treasurer of one of the nation’s biggest drug store chains have resigned.

  • 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

    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.

  • 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.

  • 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.