Top News

  • October 15, 2009

    Bill Aims To Eliminate Generic-Drug Labeling Delays

    Sens. Jeanne Shaheen, D-N.H., and David Vitter, R-La., have introduced legislation intended to keep brand-name pharmaceutical makers from delaying competitors' attempts to roll out generic alternatives by giving generics makers an expedited approval path for labeling changes.

  • October 15, 2009

    Verizon Ring Tones Not Public Performances: Judge

    A federal judge has ruled that Verizon Wireless does not need a public performance license for the songs it provides as ring tones to customers, granting the cell phone service provider summary judgment in its copyright dispute with the American Society of Composers, Authors and Performers.

  • October 15, 2009

    SEC Puts Schwab On Notice Over Mutual Funds

    Charles Schwab Corp. is facing a possible enforcement action by the U.S. Securities and Exchange Commission over two mutual funds that invested heavily in mortgage-backed securities.

  • October 15, 2009

    BofA Privilege Waiver Approved In SEC Case

    A federal judge has approved Bank of America NA's agreement to waive attorney-client privilege in the U.S. Securities and Exchange Commission's suit over alleged misrepresentations the bank made in its acquisition of Merrill Lynch & Co. Inc., exposing individual executives and law firms involved in the deal to scrutiny over executive bonuses.

  • October 15, 2009

    OTC Derivative Reform Clears 1st Hurdle In House

    The U.S. House of Representatives' Financial Services Committee voted Thursday to approve a landmark bill designed to introduce new regulation and transparency to the over-the-counter derivatives market, a key provision of the Obama administration's financial reform agenda.

  • October 14, 2009

    SEC Hit With Investor Lawsuit Over Madoff Snafu

    Two investors burned by Bernard Madoff's Ponzi scheme have filed suit against the U.S. Securities and Exchange Commission for failing to catch the disgraced financier earlier.

  • October 14, 2009

    House Panel Readies Derivatives, CFPA Bills

    Democratic and Republican members of the U.S. House of Representatives Financial Services Committee lined up along party lines on Wednesday to debate proposed derivatives and consumer financial oversight bills, as the panel nears crucial votes on two pieces of a regulatory reform package.

  • October 14, 2009

    Stanford Receiver's Clawback Bid 'Improper': SEC

    The U.S. Securities and Exchange Commission has asked a federal appeals court to continue barring the receiver in charge of the distribution of billionaire Robert Allen Stanford's estate from pursuing funds investors received as part of an alleged $7 billion Ponzi scheme, arguing that it is “inequitable and improper” for him to maintain the claims.

  • October 14, 2009

    Pfizer Gets FTC Blessing To Buy Wyeth

    Pfizer Inc.'s $68 billion acquisition of Wyeth Inc. will close Thursday after receiving clearance from the Federal Trade Commission.

  • October 14, 2009

    DOJ Doubts Need For Insurance Antitrust Exemption

    The U.S. Department of Justice's top antitrust official on Wednesday told legislators considering a bill to end antitrust exemptions for health and medical malpractice insurers that the agency supports efforts to repeal such protections, though she refused to take a position on how or when Congress should do so.

  • October 13, 2009

    Supreme Court To Review Skilling's Enron Conviction

    The U.S. Supreme Court has agreed to hear former Enron Corp. CEO Jeffrey Skilling's appeal of his convictions stemming from the massive fraud that led to the energy giant's collapse.

  • October 13, 2009

    Mayer Brown Case To Shed Light On Lawyer Liability

    If plaintiffs in the Refco securities litigation succeed in appealing the dismissal of Mayer Brown LLP and one of its lawyers from the case, securities lawyers arguing before the U.S. Court of Appeals for the Second Circuit may find themselves liable for statements they wrote anonymously.

  • October 13, 2009

    BofA Agrees To Waive Privilege In SEC Case

    Bank of America Corp. has agreed to waive attorney-client privilege in the U.S. Securities and Exchange Commission's case over alleged misrepresentations in the bank's acquisition of Merrill Lynch & Co. Inc., potentially exposing individual executives and law firms involved in the deal to the agency's scrutiny.

  • October 13, 2009

    Health Care Bill Passes Senate Finance Committee

    The U.S. Senate Finance Committee has voted 14-9 to approve the controversial bill that seeks to overhaul the U.S. health care system, shipping the matter off to the full Senate floor.

  • October 13, 2009

    High Court To Weigh In On Benefits Suit Preemption

    The U.S. Supreme Court has agreed to weigh in on a case concerning whether a state court lawsuit over a federal employee's health care benefits is preempted by federal law.

  • October 13, 2009

    Cisco Snags Mobile Internet Co. Starent For $2.9B

    Cisco Systems Inc. continued its October buying spree Tuesday, adding mobile Internet network infrastructure company Starent Networks Corp. in an all-cash deal estimated to total $2.9 billion.

  • October 12, 2009

    Judge Scraps Agent Orange Claims V. Chemical Cos.

    A federal judge has scrapped at least eight lead plaintiffs in a 30-year-old multidistrict litigation against Dow Chemical Co., Monsanto Co., Uniroyal Inc. and a host of other companies named in a lawsuit over leaky barrels of the Vietnam War-era herbicide Agent Orange.

  • October 12, 2009

    Dentsply To Challenge $44M Verdict In Contract Case

    Dental products maker Dentsply International Inc. said Monday that it would pursue all available options to challenge the $44 million verdict it was hit with Friday in a case brought by Guidance Endodontics LLC, which accused Dentsply and a subsidiary of reneging on a contract to supply Guidance with endodontic products in a bid to eliminate it as a competitor.

  • October 12, 2009

    Cubs File For Ch. 11 As Part Of Sale to Ricketts

    The Chicago Cubs have filed for bankruptcy in a move to protect the storied baseball franchise from claims against it as its ownership transfers from the bankrupt Tribune Co. to Ricketts Acquisition LLC.

  • October 12, 2009

    Levinson Quits Google Board Amid FTC Probe

    Former Genentech CEO Dr. Arthur Levinson has stepped down as a director of Google Inc. amid the Federal Trade Commission's investigation of overlap between the boards of the Internet giant and Apple Inc.