Top News

  • September 4, 2009

    Pension Funds Jump-Start Chrysler Ch. 11 Battle

    A group of Indiana pension funds has asked the U.S. Supreme Court to take a second look at objections it made to Chrysler Group LLC's bankruptcy proceedings, raising concerns over the precedent set by the automaker's rapid sale to Italian automaker Fiat SpA.

  • September 4, 2009

    Take-Two To Pay $20M In ‘Hot Coffee’ Suit

    Take-Two Interactive Software Inc., creator of the “Grand Theft Auto” video game series, will get help from its insurers to pay $20.1 million to settle a consolidated securities class action arising from hidden pornographic scenes in one of the games and allegations that its executives engaged in stock option backdating.

  • September 4, 2009

    Microsoft Wins Stay In $290M Word Patent Fight

    A federal appeals court has granted Microsoft Corp. a stay of a district court's injunction that was set to block the software giant from selling its Word software — at least until the court can hear Microsoft's appeal in a patent infringement dispute brought by technology firm i4i Inc.

  • September 4, 2009

    Sotomayor Could Part Ways With Souter In Key Cases

    With a September special session just days away and a busy term to follow, those looking for differences between Sonia Sotomayor, the newly appointed U.S. Supreme Court justice, and departing Justice David Souter may not have to wait for long.

  • September 3, 2009

    State Dept. Sued For OK'ing Tar Sands Pipeline Plan

    Environmental and Native American groups responded Thursday to news of a planned pipeline to import oil from Canada with a lawsuit accusing the U.S. State Department of supporting the import of “dirty oil.”

  • September 3, 2009

    Morgan Stanley, Moody's, S&P On Hook In Fraud Suit

    A judge has ruled that Morgan Stanley & Co. Inc., Moody's Investors Service Inc. and Standard & Poor's Rating Services must face class action fraud allegations that the firms deceived investors with overly favorable ratings of the first structured investment vehicle to fail in the credit crisis, while Bank of New York Mellon has been let off the hook.

  • September 3, 2009

    Former Monster Exec Gets 2 Years, $6.3M Fine

    The former president and chief operating officer of Monster Worldwide Inc. has been handed a two-year prison sentence and a $6.3 million fine following a securities fraud conviction over stock options backdating.

  • September 3, 2009

    EU Puts Up Roadblock To $7.4B Oracle-Sun Merger

    The European Commission has put a hold on a proposed $7.4 billion merger between Oracle Corp. and Sun Microsystems Inc., saying Thursday that it would subject the tie-up to “an in-depth investigation” due to concerns about its effects on competition in the database market.

  • September 3, 2009

    Amazon Draws Battle Lines Over Google Books Deal

    Digital book retailer Amazon.com Inc. has taken a strong stand against the proposed Google Books virtual library deal, saying the class action settlement between Google Inc. and authors' groups represents an unprecedented bid to rewrite copyright law to Google's advantage.

  • September 2, 2009

    NFL Players Union Faces DOL Probe

    The National Football League Players Association and its former president are under investigation by federal officials over alleged collusion between the union and team owners, according to a sex bias and wrongful termination suit filed by an NFLPA employee.

  • September 2, 2009

    25 Years After Flooding, SC Landowners Win $55M

    A federal judge has ordered South Carolina's state-owned electric and water utility to pay property owners more than $55 million plus interest in a quarter-century-old battle over flood damage from a hydroelectric dam.

  • September 2, 2009

    In-House Report Says SEC Flubbed Madoff Probes

    Despite receiving detailed complaints pointing to Bernard L. Madoff's Ponzi scheme for more than a decade, the U.S. Securities and Exchange Commission never mounted a competent investigation of the disgraced financier or of his firm, the agency's Office of Inspector General said Wednesday.

  • September 2, 2009

    Pfizer Finalizes $2.3B Bextra Off-Label Marketing Deal

    Pfizer Inc. will pay $2.3 billion and one of its subsidiaries will plead guilty to a criminal charge to settle claims that the drug giant improperly marketed the discontinued anti-inflammatory drug Bextra and three other medicines, federal regulators announced Wednesday, marking the largest such settlement on record.

  • September 2, 2009

    8th Circ. Gives Novastar Subprime Action The Boot

    A federal appeals court has affirmed the dismissal of a securities fraud class action against Novastar Financial Inc., in what a lawyer representing the subprime lender characterized as the first time such a case tied to the mortgage meltdown was booted at the federal appellate level.

  • September 2, 2009

    Ecuador To Probe Alleged Misconduct In Chevron Case

    At the urging of Chevron Corp., the government of Ecuador has agreed to move forward with an investigation into the oil giant's assertions that the judge overseeing a $27 billion environmental lawsuit against the company participated in an alleged bribery scheme.

  • September 2, 2009

    $70.5M Tyco ERISA Class Action Deals OK'd

    A judge has granted preliminary approval to Tyco International Inc.'s proposed settlement agreements to pay roughly $70.5 million to a class of Tyco employees who alleged the company breached its fiduciary duties by stacking retirement plans with company stock even as a massive accounting fraud was taking place.

  • September 1, 2009

    EBay Sells Majority Stake In Skype For $2.75B

    EBay Inc. said Tuesday it had sold a majority stake in Internet calling business Skype Technologies SA to a group of private investors led by Silver Lake Partners in a deal valuing the business at $2.75 billion.

  • September 1, 2009

    Insurers To Pay Broadcom $118M In Backdating Deal

    Broadcom Corp. is set to recover $118 million from a slew of insurers as part of a proposed partial settlement of a derivative suit over the semiconductor maker's alleged $2.2 billion stock options backdating scheme.

  • September 1, 2009

    Allianz, Port Authority Settle WTC Claims

    After nearly eight years of disputes, Allianz Global Risks US Insurance has settled all claims with the Port Authority of New York and New Jersey related to the Sept. 11 attacks of 2001.

  • September 1, 2009

    Hsu Says He Isn't Liable For All Ponzi Losses

    Businessman and infamous political donor Norman Hsu has told a judge his sentencing should reflect the fact that he was not responsible for injury to all those who lost millions in an allegedly fraudulent investment scheme.