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  • Brocade Communications Backdated Stock Options Settlement
    New York, NY: (Feb-23-07) The Securities and Exchange Commission filed suit against Brocade Communications, accusing them of backdating of stock options. Brocade was among the first companies to come under government scrutiny after backdating problems were disclosed. The result of an internal investigation was prompted by the allegations of a fired empl...
  • Fieldstone Investment Corp. Shareholder Settlement
    Columbia, MD: (Feb-22-07) Fieldstone Investment Corp. ended its litigation with former Fieldstone shareholders who accused it of fraudulent business practices relating to the price paid by Fieldstone to redeem their shares following the closing of Fieldstone's Rule 144A equity offering in 2003. The lawsuit ended with Fieldstone agreeing to pay its share...
  • Ketek Linked to Liver Damage, Approval Process Flawed
    May-9-07 Bridgewater, NJ An antibiotic linked to severe liver damage was twice turned down by the U.S. Food and Drug Administration (FDA) before it was finally approved, and has since undergone several label updates as reports of side effects roll in, and concern mounts. As recently as February 12th of this year, the FDA reduced by two the approved uses for Ketek...
  • Lilly's Worst Zyprexa Nightmare comes True
    May-7-07 Washington, DC: Eli Lilly is not all that worried about personal injury lawsuits related to Zyprexa because the company has enough money to pay the relatively small pay-outs that arise from such actions, according to Attorney Barry Turner, a professor of law and ethics in the UK and a leading authority on consumer fraud litigation involving the pharmac...
  • Fisher-Price Inc. Defective Product Notification Penalty
    San Antonio, TX: (Mar-01-07) Fisher-Price Inc. has agreed to pay a civil penalty of $975,000 for failure to report a defective product. Over 67,000 Little People Animal Sounds Farm were recalled in June 2002 after it was discovered that a nail fastener could come loose from barn's stall doors. The nails could cause choking hazards or other personal injurie...
  • Denver, CO Delayed Mental Evaluations Settlement
    Denver, CO: (Feb-22-07) In a lawsuit between state officials and attorneys representing inmates, a Denver judge issued contempt citations against the state hospital superintendent and the director of the department of human services for failing to provide court-ordered competency evaluations or treatment for inmates. The suit alleged that mentally ill i...
  • Long Beach Unified School District Teachers Pay Settlement
    Long Beach, CA: (Feb-22-07) A lawsuit filed by the Teachers Association of Long Beach (TALB) against the Long Beach Unified School District (LBUSD) accused the school of not compensating teachers for working extra hours on Fridays for four years. TALB filed the grievance in January 2006 on behalf of the teachers and reached an agreement in which TALB se...
  • Boeing, MPB Corp., and Aircraft Gear Corp. Army Helicopter Personal Injury Settlement
    Los Angeles, CA: (Feb-21-07) A lawsuit was filed against Boeing and the manufacturers of the component parts that allegedly failed causing the occupants of the Apache Longbow, the Army's primary attack helicopter used in Iraq, to suffer major spinal fractures that would affect them for the rest of their lives. Chief Warrant Officer Juan Beltran and Chie...
  • BP Oil Refinery Explosion Settlement
    Dallas, TX: (Feb-21-07) A lawsuit was filed against BP, stemming from the deadly explosion at BP's oil refinery in Texas City that killed more than a dozen people. Eva Rowe died in the accident and her parents filed a lawsuit against the global energy group. BP settled with the girl's parents and set aside $32 million to improve oil workers' safety. Texa...
  • Consumerinfo.com Free Credit Report Fraud Fine
    Los Angeles, CA: (Feb-21-07) The Federal Trade commission booked Consumerinfo.com, doing business as Experian Consumer Direct, on employing deceptive advertising practices. According to the FTC, Consumerinfo.com did not honor its word when it advertised "free credit reports" to consumers but failed to adequately disclose that those who signed up would...
  • San Bernardino County, CA Developer Storm Water Damage Settlement
    Hollywood, CA: (Feb-21-07) The San Bernardino Board of Supervisors approved a settlement that took place between the county and Upland developer Colonies Partners. The lawsuit questioned whether the county had the right to divert storm waters onto the Colonies' commercial and residential development. Under the agreement, Colonies Partners will get $102...
  • St. Joseph County Underpaid Madison Center for Jail Prisoners Settlement
    South Bend, IN: (Feb-21-07) An appeal was filed with the St. Joseph County Council by the Madison Center, who contended that the mental health facility had been underpaid since the 1990s for services provided to county jail prisoners. Madison Center sought an appropriation of $5 million, but the County settled for $3.25 million in all, with $3 million t...
  • Veritas Software Corp. Aiding and Abetting Scheme Civil Penalty
    Washington, DC: (Feb-21-07) Symantec Corp.'s Veritas was charged with engaging in a fraudulent scheme to manage earnings and aiding and abetting fraud at Time Warner Inc.'s America Online unit, according to the Securities and Exchange Commission. The SEC alleged that Veritas agreed to buy $20 million in online advertising from AOL in 2000 in exchange fo...
  • Schering-Plough Corp. Drug Pricing Settlement
    Harrisburg, PA: (Feb-21-07) Pharmaceutical giant Schering-Plough came under federal censure for its improper pricing and marketing practices of several of the company's prescription medications, especially allergy drug Claritin Redi-Tabs and potassium supplement K-Dur. Schering-Plough ended up paying the United States Department of Justice $435 million...
  • Fannie Mae Accounting Fraud Civil Penalty
    Washington, DC: (Feb-27-07) Mortgage giant, Fannie Mae, has been under federal scanners for reasons ranging from withholding $44.4 million in bonuses from their employees to the kind of corporate culture they endorse. The Securities and Exchange Commission levied a $400 million civil penalty - one of the biggest ever in an accounting fraud case - agains...
  • GlobalSantaFe Corp. Drill Patent Infringement Settlement
    Houston, TX: (Feb-20-07) A patent dispute that arose between GlobalSantaFe Corp. and Transocean was resolved with the two companies entering into a settlement and licensing agreement. Under the agreement, GlobalSantaFe will pay a one-time license fee of $12 million related to the construction of three rigs and allow for the unrestricted use of dual dril...
  • Great American Insurance Company Cabot School Fire Settlement
    Little Rock, AR: (Feb-20-07) A suit involving the Cabot School District and Great American Insurance Company was settled with Great American Insurance Company agreeing to pay the school district $10 million. The lawsuit stemmed out of the School District's claim for losses to the Cabot Junior High School building and its contents, resulting from a fire...
  • Bayonne, NJ Traffic Light Car Crash Settlement
    Bayonne, NJ: (Feb-20-07) A lawsuit that resulted from an accident involving city Health Director Brigid Breivogel was settled when Bayonne agreed to pay her three installments of $135,000. Breivogel was returning to Bayonne from a Hudson County seminar, when she collided with a 1998 Lincoln, traveling through an intersection. Breivogel could not see the...
  • Peter Chiesa Property Disputer Murders Settlement
    Calaveras, CA: (Feb-20-07) A property dispute that took the lives of two women was finally settled with a settlement that awarded $1 million in shared monetary damages to the families involved in filing suit. The feud stemmed out of a road access dispute between Leslie Hannameyer, her neighbor Annette Truman, and Peter Chiesa, a once brilliant chemist C...
  • Monroe County, WI Inmate Attempted Suicide Settlement
    Appleton, WI: (Feb-20-07) A lawsuit filed by the family of Brenda Mombourquette against Monroe County, accused county jail authorities of gross neglect when they failed to diagnose Mombourquette's depression. Mombourquette finally tried committing suicide while in jail and suffered irreversible brain damage. Mombourquette's family filed a lawsuit agains...
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