Recent Updates
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Lehman, Nortel, Bank of America, Google in Court News
Business Law 06/07/2010Lehman Brothers Holdings Inc.’s ex- Chief Executive Officer Richard Fuld asked a judge to dismiss a lawsuit accusing him and his colleagues of failing to disclose Repo 105, a financing method allegedly used to conceal billions of dollars of debt, acc...
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Cleanup Costs and Lawsuits Rattle BP’s Investors
Business Law 06/04/2010BP shareholders are fleeing the company’s stock amid growing uncertainty about the ultimate bill for cleanup costs, lawsuits, fines and damage to the oil giant’s reputation. BP’s shares fell an additional 15 percent on Tuesday, as investors reacted t...
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Microsoft Says Salesforce.com Infringes Patents
Business Law 05/19/2010Microsoft Corp. sued Salesforce.com Inc. yesterday, accusing the company of infringing nine patents for ways to make software more efficient.The complaint targets the customer-relationship management software that is the hallmark of Salesforce.com’s ...
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Movie Gallery plans to close all stores, liquidate
Business Law 05/11/2010Movie Gallery Inc., the owner of struggling movie rental chain Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly get movies through the mail, vending machines and high-speed Internet connections.Th...
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Former Qwest CEO Nacchio due in court Tuesday
Business Law 05/05/2010Former Qwest Communications International Inc. CEO Joe Nacchio is set to appear in federal court in Denver to say whether he wants to waive his right to attend his re-sentencing hearings.U.S. District Judge Marcia Krieger wants to see Nacchio in pers...
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Lorillard 1Q profit up, excise tax helps revenue
Business Law 04/26/2010Lorillard, the maker of Newport, Maverick and True cigarettes, says its first-quarter profit climbed 26 percent as domestic wholesale shipments and average prices grew.The nation's third-biggest cigarette maker said higher federal excise taxes on smo...
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High court to look at Costco sale of Swiss watches
Business Law 04/20/2010The Supreme Court is stepping into a legal fight over Omega's effort to stop Costco from offering the Swiss maker's watches for up to a third less than they cost elsewhere.The case has important implications for discount sellers like Costco and Targe...
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BeBevCo Has New Legal Counsel
Business Law 04/09/2010BeBevCo announced today they have hired a new legal team: McMullen Associates LLC from Charlotte, North Carolina. McMullen Associates LLC is a Securities and Corporate Law Firm that specializes in Securities Regulation, Corporate Law, Mergers and Acq...
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Daimler bribes: a blown chance to clean up its act
Business Law 04/01/2010At a 1999 meeting in Germany, board members at Daimler, one of the world's largest vehicle manufacturers, took a step that could have saved the company the trouble it will face in a U.S. courtroom on Thursday.Before a federal judge, Justice Departmen...
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Philly news lenders appeal auction bid rules
Business Law 03/31/2010Creditors trying to win control of Philadelphia's two major newspapers have asked a U.S. appeals court to reconsider a key ruling involving the upcoming bankruptcy auction.Secured creditors are owed about $300 million by owners of The Philadelphia In...
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US judge orders firms to defend municipals suit
Business Law 03/26/2010About a dozen banks and financial firms must defend allegations of bid rigging, limited competition and price fixing in the municipal derivatives market, a U.S. judge ruled on Thursday.U.S. District Judge Victor Morrero's written order said the defen...
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Court lifts ban on media ownership restrictions
Business Law 03/24/2010A federal court has at least temporarily lifted government rules that blocked media companies from owning a newspaper and a broadcast TV station in the same market.The decision Tuesday by the U.S. Court of Appeals for the Third Circuit lifts the Fede...