Recent Updates
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PepsiCo learns a $1.26 billion lesson over misplaced letter
Business Law 10/29/2009It's an expensive lesson on the importance of reading your mail.A Wisconsin judge has ordered PepsiCo Inc to pay $1.26 billion to two men who said it stole their idea to sell purified water after a secretary mislaid a document alerting the world's No...
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Deal proposed to Lehman Brothers Europe creditors
Business Law 10/05/2009The administrators of Lehman Brothers' assets in Europe said Monday that they may seek a direct agreement with hedge funds and other creditors to return money tied up since the collapse of the parent company as an alternative to a court-sanctioned se...
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Ahead of the Bell: Consumer Credit
Business Law 09/08/2009Consumers, confronting job losses and weak income growth, likely cut back on their borrowing for a sixth consecutive month in July.Consumer borrowing likely fell by $4.5 billion at an annual rate in July, according to economists surveyed by Thomson R...
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US appeals court upholds Internet gambling ban
Business Law 09/02/2009A U.S. appeals court upheld an Internet gambling ban Tuesday, rejecting a challenge from an association of off-shore bookies that the federal prohibition was too vague and violated privacy rights.The 3rd U.S. Circuit Court of Appeals in Philadelphia ...
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Seiko Epson unit pleads guilty in price fixing case
Business Law 08/27/2009A unit of Seiko Epson Corp agreed to plead guilty to one count of conspiring to fix prices for liquid crystal screens sold to mobile phone maker Motorola Inc, the U.S. Justice Department said on Tuesday. Epson Imaging Devices Corp, which was known as...
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Wells Fargo sued over home equity lines of credit
Business Law 08/19/2009The banking unit of Wells Fargo & Co. is facing a lawsuit claiming it illegally reduced the size of customers' home equity lines of credit. The suit, which was filed in Illinois, claims Wells Fargo failed to accurately assess the value of custome...
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SC lawsuit against Nucor Steel can proceed
Business Law 08/18/2009A federal appeals court has revived a discrimination lawsuit brought by black employees who claim they worked in a racially hostile environment at a Nucor Steel mill in South Carolina, attorneys said Tuesday. The 4th U.S. Circuit Court of Appeals sai...
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Massey drops lawsuit against WVa Supreme Court
Business Law 07/25/2009Coal producer Massey Energy has dropped its lawsuit challenging the West Virginia Supreme Court's recusal procedures. Richmond, Va.-based Massey said in a statement Friday that the retirement of former Justice Larry Starcher last year prompted it to ...
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Opponents of GM sale face noon deadline
Business Law 07/10/2009Opponents of General Motors Corp.'s plan to sell the bulk of itself to a new government-controlled company face a noon deadline to file appeals and find a way to get the sale halted.But with their options dwindling and time running out, it's increasi...
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High court puts Chrysler sale on hold
Business Law 06/09/2009The Supreme Court threw a wrench into the plans to have a quick bankruptcy process at Chrysler LLC, delaying the company's combination with Italian automaker Fiat. The bankruptcy judge overseeing the Chrysler case had given approval for the company's...
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Supreme Court asked to delay Chrysler sale
Business Law 06/08/2009Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal. The separate requests, which moved the leg...
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Banks earned $7.6B in 1Q after record loss in 4Q
Business Law 05/27/2009The nation's banks turned a profit in the first quarter, but the number of problem banks jumped to more than 300, the government said Wednesday.The Federal Deposit Insurance Corp. said higher trading revenues at big banks helped the industry earn a $...