Recent Updates
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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 ...
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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...
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Cytochroma settles lawsuit with Genzyme
Business Law 04/18/2007Cytochroma, 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 ...
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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...
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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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Sony drops cost of PSP handheld game device
Business Law 04/04/2007[##_1L|1061100076.jpg|width="200" height="130" alt=""|_##]Looking to lure more American gamers, SONY Computer Entertainment America announced Tuesday it will cut the price of its handheld PlayStation Portable game device from 200 U.S. dollars to 170 ...
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CB Richard Ellis' Downtown Development Group
Business Law 04/02/2007Is downtown Los Angeles finally headed towards the likes of New York or Chicago's bustling and vibrant urban environments? With the recent boom of construction and real estate development going on, it appears that downtown LA will once again be...
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Apple unveils DRM free music on Itunes
Business Law 04/02/2007CUPERTINO, California--Apple® today announced that EMI Music’s entire digital catalog of music will be available for purchase DRM-free (without digital rights management) from the iTunes® Store (www.itunes.com) worldwide in May. DRM-free tracks from ...
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AT&T, Verizon win government telecom contract
Business Law 03/29/2007[##_1L|1145417886.jpg|width="150" height="139" alt=""|_##]The U.S. General Services Administration cast Sprint Nextel Corp. <S.N> aside and picked AT&T Inc. <T.N>, Qwest Communications International Inc. <Q.N> and Verizon Commun...
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Data Theft Believed to Be Biggest Hack
Business Law 03/29/2007A hacker or hackers stole data from at least 45.7 million credit and debit cards of shoppers at off-price retailers including T.J. Maxx and Marshalls in a case believed to be the largest such breach of consumer information.For the first time since di...