Recent Updates
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91,000 Gulf oil spill claims, just 1 final payment
Business Law 02/01/2011BP's compensation fund for Gulf oil spill victims has issued a final settlement payment to just one of the thousands of people and businesses waiting for checks, records show, and that $10 million payout went to a company after the oil giant interven...
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Verizon challenges FCC's net neutrality rules
Business Law 01/21/2011Verizon says it has filed a court challenge to new federal regulations that prohibit broadband providers from interfering with Internet traffic flowing over their networks.A divided Federal Communications Commission adopted the "network neutrality" r...
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Court: Oracle owed interest by SAP in settlement
Business Law 12/29/2010A U.S. District Court judge said SAP AG owes Oracle Corp. interest on the $1.3 billion it has been ordered to pay Oracle for copyright infringement, Bloomberg reports.Walldorf, Germany-based SAP said the interest works out to about $16.5 million acco...
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Bank of America stops handling WikiLeaks payments
Business Law 12/18/2010Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks, the latest blow to the secret-releasing organization's efforts to continue operating under pressure from governments and the corporate...
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MGM restructuring plan approved by court
Business Law 12/03/2010Struggling U.S. movie studio Metro-Goldwyn-Mayer Inc.(MGM) said Thursday its restructuring plan has been approved by a federal bankruptcy court, allowing it to emerge from bankruptcy protection.Under the new plan, the company's lenders will exchange ...
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Supreme Court Ends Tiffany's Fight Against eBay
Business Law 11/30/2010The Supreme Court declined to hear an appeal by Tiffany's in its ongoing suit against eBay, effectively closing the case in favor of the online auction house. The original suit, filed in 2004 and heard in 2007, claimed that eBay was not doing enough ...
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$450m class action launched against NAB
Business Law 11/28/2010A $450 million class action is being launched on behalf of National Australia Bank shareholders who lost money during the global financial crisis because of NAB's exposure to toxic debt.Legal firm Maurice Blackburn will lodge the claim in a Victorian...
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Companies crank up deal machine, put cash to work
Business Law 11/16/2010From Caterpillar to Chevron to Google, some of the best-known names in corporate America are scooping up smaller companies, finally putting the piles of cash they've been sitting on to use and positioning themselves for a stronger economic recovery.T...
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Madoff, Halliburton, Wells Fargo in Court News
Business Law 11/01/2010Irving Picard, the trustee overseeing the bankruptcy of Bernard Madoff’s investment firm, spent $26.9 million in the six months ended Sept. 30 while recovering $849,000 for victims of Madoff’s Ponzi scheme, according to a report filed in Manhattan fe...
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Amazon Wins in Court Against NC for Now
Business Law 10/26/2010Amazon and the state of North Carolina have been fighting in court as NC tries to get residents that purchased on Amazon to pay sales tax the state feels it is owed. NC has demanded that Amazon reveal all sorts of buyer information like names, addres...
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Court strikes down parts of Ohio milk labels rule
Business Law 10/01/2010Dairy processors can make claims that their products are free of a synthetic growth hormone, a federal appeals court ruled Thursday in striking down parts of the state's rule on milk labeling.Key parts of the state's labeling rule violated First Amen...
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Warren Buffett: 'We're still in a recession'
Business Law 09/23/2010Billionaire investor Warren Buffett said the U.S. economy remains in recession, disputing this week's assessment by a leading arbiter of economic activity that the downturn ended more than a year ago."We're still in a recession," Buffett told CNBC te...