Recent Updates
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Law firm files investor lawsuit against Motorola
Business Law 09/02/2007Another law firm has filed an investor suit against Motorola Inc., claiming executives didn’t tell the market how bad things were last fall as sales began to slow. Schiffrin Barroway Topaz & Kessler LLP filed suit last Wednesday in U.S. District ...
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Roche wins U.S. motion in Ventana bid battle
Business Law 08/23/2007[##_1L|1109364129.jpg|width="120" height="93" alt=""|_##]A U.S. court has granted Roche Holding AG's motion for a preliminary injunction to prevent Ventana Medical Systems Inc. from applying an Arizona anti-takeover law to defend itself against Roche...
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TD Ameritrade, E-Trade hold merger talks
Business Law 08/22/2007Online brokerage giants TD Ameritrade Holding (AMTD) and E-Trade Financial (ETFC) have been holding talks for weeks about a possible merger, The Wall Street Journal reported Wednesday. The discussions currently are focused on making sure both compani...
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U.S. Fed pumps $3.5 bln into financial market
Business Law 08/20/2007[##_1L|1369514519.jpg|width="130" height="93" alt=""|_##]The U.S. Federal Reserve on Monday pumped 3.5 billion dollars into the financial system to help beat back a widening credit crisis. The injection was announced by the Federal Reserve Bank of Ne...
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US court OKs Dura sale of Atwood unit, equity plan
Business Law 08/17/2007Dura 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...
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Fed chief says subprime losses could hit $100bn
Business Law 07/19/2007Total 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 ...
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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 &...
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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 ...
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Court date set for Wild Oats-Whole Foods case
Business Law 06/13/2007Wild 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...
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Spitzer warns about pre-takeover options trading
Business Law 05/30/2007New 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...
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Stocks End Flat As Dow Sets New Record
Business Law 04/27/2007Wall 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 ...
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U.S. says Pfizer unit pleads guilty to kickback
Business Law 04/26/2007Pharmacia 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 ...