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Legal / Law Matters

  • By Doron Levin FORTUNE -- General Motors Co. asked a federal court in Texas to postpone a lawsuit against it claiming damages and injuries from ignition-switch defects in models of GM cars built before ...

  • Zain (KUW:ZAIN) is being sued for $4.5 billion (2.67 billion pounds) over its 2007 acquisition of an Iraqi telecom operator, the Kuwaiti firm said in a bourse statement on Sunday. Zain bought Iraqna for $1.2 billion from Orascom Telecom in December 2007 after the Egyptian firm dropped out of the running for a long-term …

  • U.S. pharmaceutical giant Pfizer has approached British rival AstraZeneca to propose a 60 billion pound takeover, Britain's Sunday Times reported.

  • Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Friday lost a bid to dismiss some of the insider trading charges leveled against him last year. U.S. District Judge Naomi Reice Buchwald in Manhattan ruled that the indictment adequately alleged the essential elements of the crimes …

  • Sending Alerts Instead, G.M. Delayed Car Recalls @ The New York Times - Sat, Apr 19, 2014 9:05 PM EDT

    A Times analysis shows that General Motors repeatedly used technical service bulletins as a stopgap safety measure instead of ordering timely recalls.

  • Documents detail another delayed GM recall Associated Press - Sat, Apr 19, 2014 4:48 PM EDT
    Documents detail another delayed GM recall

    General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government ...

  • Guinea to cancel BSG Resources-Vale mining rights Associated Press - Sat, Apr 19, 2014 1:56 PM EDT

    The government of Guinea is planning to revoke the mining rights to one of the largest untapped iron ore deposits in the world, following a watchdog's recommendation. A state-sponsored committee tasked ...

  • [$$] Exxon CEO Tillerson Withdraws From Lawsuit Against Water Tower Near His Ranch @ The Wall Street Journal - Sat, Apr 19, 2014 12:26 AM EDT

    Exxon Mobil Chief Executive Rex Tillerson has withdrawn from a lawsuit seeking to demolish a water tower near his horse ranch in north Texas.

  • Rengan Rajaratnam Loses Bid to Block Wiretaps, Dismiss Charges @ Bloomberg - Sat, Apr 19, 2014 12:01 AM EDT

    Rengan Rajaratnam, brother of imprisoned hedge-fund founder Raj Rajaratnam , lost a bid to dismiss insider-trading charges or exclude wiretap evidence federal prosecutors want to use at his June trial, potentially giving the government more leverage to obtain a plea deal. Wiretaps were central to the convictions of Raj …

  • High-speed trading firm Virtu Financial Inc, which has been pursuing an initial public offering, has received a letter of inquiry from the New York attorney general amid a wider probe of the industry, a person familiar with the matter said on Friday. News of the request by the office of New York Attorney General Eric Schneiderman …

  • Pandora Doesn’t Want to Pay for Music Made Before 1972 @ Wall St. Cheat Sheet - Fri, Apr 18, 2014 12:19 PM EDT

    Major record companies have filed a lawsuit in New York against Pandora over music made before 1972 that isn't protected by federal copyright law.

  • The Patent Drain on Economic Growth @ Forbes - Fri, Apr 18, 2014 10:51 AM EDT

    Slow economic growth since the Great Recession has been devastating for employment, middle class incomes, and federal and state budgets. Worse, many economists are predicting slow growth for the next generation. A number of policies — from tax and immigration reform to more innovation friendly regulatory treatment of the …

  • The Apple logo is pictured at its flagship retail store in San Francisco

    Four large technology companies should not be allowed to limit evidence about Apple Inc co-founder Steve Jobs at an upcoming trial over no-hire agreements in Silicon Valley, according to a court document filed late on Thursday by employees suing the firms. Tech workers brought a class action lawsuit against Apple, Google …

  • Bloomberg Law Weekend Edition: Best of the Week (Audio) @ Bloomberg - Thu, Apr 17, 2014 7:21 PM EDT

    Litigator Michael Kelly , the chairman of McCarter & English LLP, discusses the $9 billion punitive verdict against Takeda Pharmaceutical Co. and Eli Lilly & Co. (LLY), after a jury found the pharmaceutical ...

  • Ex-Goldman director Gupta starts prison term on June 17 Reuters - Thu, Apr 17, 2014 6:34 PM EDT
    File photo of Rajat Gupta departing Manhattan Federal Court after being sentenced in New York

    Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading. U.S. District Judge Jed Rakoff in Manhattan directed Gupta to surrender by 2:00 p.m. EDT (1800 GMT) on that date to start serving his sentence, according to an order issued on Thursday. Gupta, …

  • File photo of General Motors logo outside its headquarters at the Renaissance Center in Detroit

    Attorneys representing Charles and Grace Silvas, the owners of a recalled 2006 Chevrolet Cobalt, had sought an emergency order directing GM to issue "park it now" notices for the 2.6 million vehicles that have been recalled since February over the switches. GM opposed the motion, arguing that the vehicles were safe to …

  • Ex-BP worker traded on Deepwater Horizon data @ USA TODAY - Thu, Apr 17, 2014 4:51 PM EDT

    Keith Seilhan traded on insider knowledge of 2010 Deepwater Horizon disaster, SEC charged.

  • Dislike: If You 'Like' General Mills on Facebook, You Can't Sue the Company

    The American food manufacturer has made an unprecedented sneaky, (anti)social media move to keep itself out of court.

  • [$$] Rajat Gupta Agrees to Surrender to Prison @ The Wall Street Journal - Thu, Apr 17, 2014 3:45 PM EDT

    Former Goldman Sachs director Rajat Gupta will begin a two-year sentence on June 17 for leaking corporate secrets Galleon hedge-fund founder Raj Rajaratnam.

  • [$$] Teva Can Release Generic Celebrex by Year's End @ The Wall Street Journal - Thu, Apr 17, 2014 3:06 PM EDT

    Teva Pharmaceutical Industries Ltd. said Thursday it will be able to release its version of Celebrex in the U.S. by year's end after settling a patent dispute with Pfizer Inc.

  • [$$] Former BP Employee to Settle Insider-Trading Allegations @ The Wall Street Journal - Thu, Apr 17, 2014 2:39 PM EDT

    Keith Seilhan, a former BP employee and senior responder during the 2010 Deepwater Horizon oil spill, has agreed to settle charges of insider trading.

  • Judge won't order recalled GM cars to be parked Associated Press - Thu, Apr 17, 2014 2:04 PM EDT
    Judge won't order recalled GM cars to be parked

    A Texas federal judge has denied an emergency motion that would have forced General Motors to tell owners of more than 2 million recalled cars to stop driving them until the ignition switches are replaced. ...

  • Ex-BP employee settles SEC insider-trading oil spill case Reuters - Thu, Apr 17, 2014 2:02 PM EDT

    A former 20-year veteran of BP plc (BP.L) who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday. The Securities and Exchange …

  • General Mills Amends New Legal Policies @ The New York Times - Thu, Apr 17, 2014 1:58 PM EDT

    The company said the policy, which said consumers “joining our online communities” could not sue the company, did not apply to its Facebook and Twitter accounts.

  • Uber Faces Rebukes in Europe @ The New York Times - Thu, Apr 17, 2014 1:32 PM EDT

    The company’s global problems add to the bumps the company face in the United States, including opposition from taxi groups and driver complaints.

  • Former BP manager charged with insider trading @ CNNMoney.com - Thu, Apr 17, 2014 1:27 PM EDT

    A former BP manager who led clean-up efforts after the massive Gulf of Mexico oil spill in 2010 has settled charges that he traded inside information about the catastrophe. The Securities and Exchange ...

  • Ex-BP Worker Settles SEC Insider Trading Claims on Spill @ Bloomberg - Thu, Apr 17, 2014 1:06 PM EDT

    A former official of BP Plc (BP/) will pay $224,000 to settle U.S. claims that he traded securities based on inside information about the magnitude of the Deepwater Horizon oil spill, the Securities and Exchange Commission said. Keith Seilhan, a crisis manager who directed BP’s oil-skimming operations and efforts to contain …

  • Teva settles patent suit with Pfizer over Celebrex Reuters - Thu, Apr 17, 2014 12:56 PM EDT

    Teva Pharmaceutical Industries Ltd signed a deal that allows the Israeli drugmaker to launch a generic version of Pfizer Inc's blockbuster painkiller Celebrex in December. A U.S. court in March invalidated a patent extending Pfizer's marketing exclusivity for Celebrex to Dec. 2, 2015. Celebrex's basic chemical patent …

  • Former Goldman Sachs Group Inc (NYS:GS) director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading. U.S. District Judge Jed Rakoff in Manhattan directed Gupta to surrender by 2:00 p.m. EDT (1900 BST) on that date to start serving his sentence at an institution chosen by the Federal …

  • Could It Be Illegal to Sue a Company That You Like on Facebook? The Atlantic - Thu, Apr 17, 2014 12:36 PM EDT

    General Mills, the food mega-corporation that owns Betty Crocker, Nature Valley, and basically every sweet cereal you ate and served your kids, has a startling new legal policy making it illegal to sue the company after you: - “join” an online communities (which online communities is in question, but possibly including …

  • Clip This Coupon, Forfeit Your Right to Sue The Atlantic - Thu, Apr 17, 2014 12:36 PM EDT

    General Mills, the food mega-corporation that owns Betty Crocker, Nature Valley, and basically every sweet cereal you ate and served your kids, has a startling new legal policy making it illegal to sue the company after you: - “join” an online communities (which online communities is in question, but possibly including …

  • General Mills: If You Clip This Coupon, You Can't Sue Us! The Atlantic - Thu, Apr 17, 2014 12:36 PM EDT

    General Mills, the food mega-corporation that owns Betty Crocker, Nature Valley, and basically every sweet cereal you ate and served your kids, has a startling new legal policy making it illegal to sue the company after you: - “join” an online communities (which online communities is in question, but possibly including …

  • SEC: BP Employee Illegally Sold Shares After 2010 Spill @ Fox Business - Thu, Apr 17, 2014 12:29 PM EDT

    A veteran BP employee who headed the company's cleanup from the 2010 Deepwater Horizon oil spill has been charged with insider trading for allegedly selling shares illegally after learning the extent of ...

  • EU lawmakers smooth way for class actions against cartels Reuters - Thu, Apr 17, 2014 12:18 PM EDT

    European lawmakers on Thursday eased the way for cartel victims to claim compensation from companies under new rules that also shield price-fixing whistleblowers from being the main target of million-euro lawsuits. The green light from the European Parliament came nine years after the European Commission broached the idea, …

  • Two cans of Monster Energy drink are pictured in this photo-illustration shot in Los Angeles

    The accord was disclosed in a Wednesday filing with the U.S. District Court in Los Angeles, and requires court approval. Monster denied wrongdoing in agreeing to the all-cash settlement. Shareholders led by the Structural Ironworkers Local Union #1 Pension Fund in Forest Park, Illinois, claimed that the record results …

  • Monster Beverage in $16.25 mln 'channel-stuffing' settlement Reuters - Thu, Apr 17, 2014 11:53 AM EDT

    * Shareholders questioned Anheuser distribution arrangement * Monster denied wrongdoing April 17 (Reuters) - Monster Beverage Corp reached a $16.25 million settlement with shareholders who said the energy drink maker defrauded them by overstating the financial benefits of a distribution arrangement with Anheuser-Busch. …

  • Samsung Calls In Experts to Prove It Didn’t Violate Apple Patents @ Wall St. Cheat Sheet - Thu, Apr 17, 2014 11:46 AM EDT

    The Apple versus Samsung trial just got a lot more technical.

  • Mt. Gox, the Once Mighty Bitcoin Exchange, Is Finished @ TheStreet.com - Thu, Apr 17, 2014 11:44 AM EDT

    Liquidation proceedings are expected to begin in Tokyo.

  • The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc that he may face a fine of up to $5 million (2 million pounds) over the money transfer giant's previously admitted failures to properly police transactions for illicit activity, sources familiar with the matter said. Several …

  • Samsung and Apple are paying top dollar to compensate the expert witnesses in their ongoing patent trial. 

  • New Due Diligence Strengthens Short Thesis On American Heritage @ Seeking Alpha - Thu, Apr 17, 2014 10:14 AM EDT

    After our initial short thesis article on American Heritage ( OTCQB:AHII ), in which the subject matter revolved around the motivation for a pump campaign and the headwinds the company was facing in light ...

  • Small-Business Web Ads Aren't Reaching Targets @ The Wall Street Journal - Thu, Apr 17, 2014 12:43 AM EDT

    Small-business owners are turning to large online-marketing firms to help them place ads on search engines, but many are finding the ads aren't reaching target audiences.

  • [$$] Cadillac Test Drivers Warned of Ignition Switches Turning Off in 2006 @ The Wall Street Journal - Thu, Apr 17, 2014 12:42 AM EDT

    General Motors ordered a more robust ignition switch in 2006 for a Cadillac then in development after complaints from test drivers that the vehicle would shut off if the ignition was bumped, newly released ...

  • Cleary, Shearman Advise on Johnson Deal: Business of Law @ Bloomberg - Thu, Apr 17, 2014 12:01 AM EDT

    Cleary Gottlieb Steen & Hamilton LLP advised Johnson Controls Inc. (JCI) in its planned acquisition of Canada Pension Plan Investment Board’s Air Distribution Technologies business for $1.6 billion, adding ...

  • Is Our Bank Of America Stock Price Headed Back To Single Digits? @ Seeking Alpha - Wed, Apr 16, 2014 9:02 PM EDT

    HUGE Q1 Loss by Bank Of America With its mortgage business in decline and after paying $6 billion in legal fees and fines, Bank of America ( BAC ), the second biggest lender in the nation, has a huge first ...

  • IBM Investor's Business Daily - Wed, Apr 16, 2014 7:09 PM EDT

    IBM (IBM) was hit with a $2.5 bil lawsuit in federal district court in N.Y. by Mexican mobile phone company Iusacell SA. The Mexican firm claimed IBM made fraudulent representations that caused it to lose ...

  • China's workforce: smaller, more savvy, more restive Reuters - Wed, Apr 16, 2014 6:23 PM EDT

    China's workforce is growing more restive as it shrinks. The number of strikes so far this year is up by close to a third - the biggest surge in protests since the global financial crisis, according to one labour group - as businesses cut costs and foreign companies restructure or close operations in response to slowing …

  • In Germany, Strong Words Over Google's Power @ The New York Times - Wed, Apr 16, 2014 4:09 PM EDT

    Mathias Döpfner, a leading publisher, lashed out a week after the Google chairman, Eric E. Schmidt, mounted a spirited defense of Google's practices.

  • Mexican mobile phone operator sues IBM for $2.5 billion Reuters - Wed, Apr 16, 2014 2:39 PM EDT
    An applicant speaks on his mobile phone before a selection process for entry into the school of Maricahi Ollin Yoliztli in Mexico City

    Mexican mobile phone operator Iusacell SA de CV sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits. The lawsuit, filed in federal district court in New York, centered on a contract that Iusacell said IBM induced it to enter …

  • Twitter appears to have backed down in a legal fight over who can use dead celebrity images. The case could have broader ripples for online expression.

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