Recent Updates

  • US court OKs Dura sale of Atwood unit, equity plan

    US court OKs Dura sale of Atwood unit, equity plan

    Business Law 08/17/2007

    Dura Automotive Systems Inc. has received U.S. Bankruptcy Court approval for the $160.2 million sale of its Atwood Mobile Products unit and an equity plan with Pacificor LLC to support its reorganization.Dura, which filed for bankruptcy in October 20...

  • Fed chief says subprime losses could hit $100bn

    Fed chief says subprime losses could hit $100bn

    Business Law 07/19/2007

    Total losses from the subprime mortgage meltdown may be in the order of $50bn to $100bn, according to estimates cited by Ben Bernanke in testimony to Congress on Thursday.The Fed chairman said:"There clearly will be some significant financial losses ...

  • Sony Settles $8.5 Million Class Action Suit

    Sony Settles $8.5 Million Class Action Suit

    Business Law 06/29/2007

    [##_1L|1121971627.jpg|width="120" height="138" alt=""|_##]Sony Computer Entertainment America has settled an $8.5 million class action lawsuit with current and former employees, according to a statement issued by the law offices of Shapiro Haber &...

  • Colgate warns of fake toothpaste, maybe toxic

    Colgate warns of fake toothpaste, maybe toxic

    Business Law 06/14/2007

    [##_1L|1145481366.jpg|width="142" height="136" alt=""|_##]Colgate-Palmolive (CL) said Thursday that counterfeit "Colgate" toothpaste that may contain a toxic chemical has been found in discount stores in four states. "There are indications that this ...

  • Court date set for Wild Oats-Whole Foods case

    Court date set for Wild Oats-Whole Foods case

    Business Law 06/13/2007

    Wild Oats Markets Inc. and Whole Foods Market Inc. will go to court late next month in an attempt to keep the planned merger between the two companies alive. The Federal Trade Commission has raised concerns about whether the two natural foods grocers...

  • Spitzer warns about pre-takeover options trading

    Spitzer warns about pre-takeover options trading

    Business Law 05/30/2007

    New York Governor Eliot Spitzer, a former state attorney general who prosecuted some of the biggest firms in the United States, said on Tuesday that recent options trading ahead of takeovers was "deeply problematic."In past months, announcements of p...

  • Stocks End Flat As Dow Sets New Record

    Stocks End Flat As Dow Sets New Record

    Business Law 04/27/2007

    Wall Street paused Thursday, with stocks little changed as strong profit reports from names like Apple Inc. and 3M Corp. failed to galvanize the market a day after the Dow Jones industrials crossed 13,000. Still, a modest advance in the Dow gave the ...

  • U.S. says Pfizer unit pleads guilty to kickback

    U.S. says Pfizer unit pleads guilty to kickback

    Business Law 04/26/2007

    Pharmacia and Upjohn Company Inc., a unit of Pfizer Inc. (PFE.N), pleaded guilty to one count of offering a kickback to a pharmacy benefit manager and was sentenced to pay a criminal fine of $19.68 million, federal prosecutors said on Wednesday.As a ...

  • Samsung exec pleads guilty in DRAM scandal

    Samsung exec pleads guilty in DRAM scandal

    Business Law 04/20/2007

    [##_1L|1168605596.gif|width="100" height="69" alt=""|_##]A sixth executive from Samsung Electronics Co. Ltd. has agreed to plead guilty to participating in a global conspiracy to fix DRAM prices, the Department of Justice announced. Il Ung Kim, a Kor...

  • Cytochroma settles lawsuit with Genzyme

    Cytochroma settles lawsuit with Genzyme

    Business Law 04/18/2007

    Cytochroma, Inc., a company managed by former employees of Bone Care International, has announced the settling of a lawsuit filed in August 2006 by Genzyme Corp., the company that acquired Bone Care in 2005.The lawsuit, in which Genzyme claimed that ...

  • New York seeks probe of Wal-Mart for surveillance

    New York seeks probe of Wal-Mart for surveillance

    Business Law 04/11/2007

    [##_1L|1228556092.jpg|width="100" height="114" alt=""|_##]New York City is seeking a probe of Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research) over the retailer's reported surveillance of shareholders who submitted proxy petitions that could po...

  • Chrysler Gets Big Offer from Billionaire Kerkorian

    Chrysler Gets Big Offer from Billionaire Kerkorian

    Business Law 04/09/2007

    [##_1L|1216202670.jpg|width="100" height="107" alt=""|_##]Los Angeles billionaire Kirk Kerkorian's Tracinda Company said Friday that his 4.5-billion-dollar bid for Chrysler would be based on "a true partnership" of the automaker's management, workers...

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