Top News

  • October 12, 2009

    Onyx Adds Cancer Drug Maker Proteolix For $276M

    Onyx Pharmaceuticals Inc., a biopharmaceutical company specializing in cancer treatments, announced Monday that it had agreed to purchase Proteolix Inc. for an initial cash payment of $276 million.

  • October 12, 2009

    Vacancies Add To Swamped Appeals Courts' Problems

    Much has been made of the Obama administration's slow progress in filling the 21 currently vacant circuit court seats, but the empty posts only compound the problems of an already overextended federal appeals court system, litigators say.

  • October 9, 2009

    Exxon Appeals $150M Gas Leak Judgment

    Exxon Mobil Corp. said Friday it had appealed a $150 million judgment awarded to residents of Jacksonville, Md., after a jury found in March that the company was liable for an undetected gas leak at a service station that contaminated surrounding groundwater.

  • October 9, 2009

    JPMorgan, Banks Settle Lender Claims For $100M

    A trustee for bankrupt lender American Business Financial Services Inc., which funded its business by publicly selling notes, has reached settlements totaling $100 million with JPMorgan Chase & Co., Morgan Stanley and Credit Suisse Group AG over their alleged role in the failed company's demise.

  • October 9, 2009

    Fund Manager Pleads Guilty To $2B Ponzi Scheme

    A Chicago-area hedge fund manager has filed a guilty plea to one count of wire fraud related to his role in an alleged $2 billion Ponzi scheme.

  • October 9, 2009

    Ericsson Forecasts Wrong, Not Fraudulent: 2nd Circ.

    A federal appeals court has affirmed a district court decision in favor of Ericsson LM Telephone Co., ruling that inaccurate statements made by executives about the telecommunications manufacturer's financial future were not a willful attempt to defraud investors as the plaintiffs in the consolidated class action had argued.

  • October 9, 2009

    US V. Textron Raises Concerns Over Work Product

    An en banc ruling in Textron Inc.'s battle with the Internal Revenue Service over access to the company's tax accrual work papers could present the U.S. Supreme Court with an opportunity to clarify the reach of the work product doctrine.

  • October 9, 2009

    Class Action Over Cephalon Off-Label Claims Tossed

    Cephalon Inc. has won dismissal of a putative class action brought by a group of municipal benefit funds over the pharmaceutical company's alleged efforts to market three drugs for uses that did not have regulatory approval.

  • October 9, 2009

    SEC Pledges Post-Madoff Expansion, Reform

    The U.S. Securities and Exchange Commission is extensively reforming its programs to foster and enforce compliance with federal securities laws in the wake of its failure to detect Bernard L. Madoff's Ponzi scheme, the agency has said.

  • October 8, 2009

    USPTO Drops Controversial Rules Package

    The fiercely contested rules proposed by the U.S. Patent and Trademark Office under the Bush administration that sought to impose new restrictions on patent applicants and became the subject of a drawn-out court battle in Tafas v. Doll have been rescinded, the USPTO said Thursday.

  • October 8, 2009

    Lawmakers Vexed By Google Call-Blocking

    AT&T Corp.’s recent assault on Google Inc.’s phone service has aroused interest on Capitol Hill, with lawmakers urging the Federal Communications Commission to investigate whether Google Voice unfairly blocks calls to rural telephone exchanges in order to avoid expensive access charges.

  • October 8, 2009

    DHS Rescinds 'No-Match' Illegal Worker Rule

    The U.S. Department of Homeland Security has rescinded a controversial “no-match” rule that was intended to prevent the employment of illegal immigrants, but failed to take effect after becoming tied up in a court battle.

  • October 8, 2009

    US Asks WTO To Resolve EU Poultry Ban Dispute

    The U.S. asked the World Trade Organization Thursday to settle a trade dispute over the European Union's long-standing ban on imports of poultry cleansed with pathogen reduction treatments.

  • October 8, 2009

    DOJ Targets IBM With Antitrust Investigation

    The U.S. Department of Justice has launched a probe to investigate claims that IBM Corp. has used its dominant position in the mainframe hardware and associated operating system market to leverage out would-be competitors, according to an industry trade association.

  • October 8, 2009

    UK Regulator Opposes Ticketmaster-Live Nation Merger

    U.K. competition authorities have issued a preliminary ruling opposing the proposed $2.5 billion merger of Ticketmaster Entertainment Inc. and concert promoter Live Nation Inc., saying the deal has the potential to curb competition in the market for live music ticketing.

  • October 8, 2009

    Dan Rather Strikes Out Again With Firing Suit

    A New York Supreme Court judge has bounced a second suit filed by former CBS anchor Dan Rather over his controversial firing on the heels of an appellate court tossing out his original $70 million breach of contract claim.

  • October 7, 2009

    Nov. 9 Deadline For Revised Google Books Deal

    Google Inc. reportedly has until Nov. 9 to rework its proposed $125 million royalty settlement with authors and publishers relating to its Google Books service after a judge hinted Wednesday that the current settlement would not be approved in its current form.

  • October 7, 2009

    JPMorgan Gets OK To Intervene In WaMu's FDIC Suit

    The court overseeing Washington Mutual Inc.'s suit against the Federal Deposit Insurance Corp. over the $1.9 billion sale of WMI's banking operations to JPMorgan Chase & Co. has allowed JPMorgan to intervene as a defendant in the case, rejecting the argument that the automatic stay from WMI's bankruptcy case barred JPMorgan from getting involved in the suit.

  • October 7, 2009

    Perelman Loses Bid To Retry Coleman Case

    A Florida appeals court has turned down billionaire Ronald Perelman's bid to retry a $1.6 billion case against Morgan Stanley & Co. Inc. over the sale of camping supply manufacturer Coleman Co.

  • October 7, 2009

    SEC Appeals Dismissal Of Mark Cuban Securities Suit

    The U.S. Securities and Exchange Commission will appeal a district court's dismissal of an insider trading suit against billionaire Dallas Mavericks owner Mark Cuban, the agency told a court Wednesday.