Go to Law360 Home Law360
The Newswire for IP Professionals
Top story picture

UnitedHealth To Settle Options Battles For $912M

Minneapolis-based managed health care company UnitedHealth Group announced Wednesday that it has reached proposed settlement agreements in two lawsuits relating to its stock options practices.

divider graphic

Legal And Regulatory Calendar

Thursday, Jul 03, 2008

Our daily calendar of events lists conferences and hearings scheduled to take place in the next four weeks.

Judge Approves Settlement Class In Parmalat Case

Thursday, Jul 03, 2008

A district court judge has clarified the terms of the $40 million settlement reached in the class action against Italian dairy giant Parmalat SpA, defining a settlement class and scheduling a settlement hearing.

Court Won't Block Merger Of Activision And Vivendi

Thursday, Jul 03, 2008

A Michigan pension fund's request for a preliminary injunction against Activision's proposed merger with Vivendi Games Inc. has been denied by a Delaware court, Activision said Wednesday.

Judge Sentences Ex-Refco CEO To 16 Years In Jail

Thursday, Jul 03, 2008

Former Refco Inc. Chief Executive Phillip Bennett was sentenced Thursday to 16 years in prison for masterminding the massive fraud that brought down the world's largest commodities brokerages.

Third Airbus Exec Charged With Insider Trading

Thursday, Jul 03, 2008

Former Airbus Co. chief executive Gustav Humbert was charged on Wednesday with insider trading at the company's corporate parent EADS NV.

D.C. Circuit Hands Media General Mixed Decision

Thursday, Jul 03, 2008

A federal appeals court has affirmed Media General Inc.'s request for limited damages from representatives of Park Communications for allegedly hiding a former executive's multimillion-dollar suit in 1996 merger negotiations. But the court has repudiated Media General's additional $10 million securities fraud claim.

PwC To Pay $12M To Settle Class Action

Wednesday, Jul 02, 2008

PricewaterhouseCoopers LLP has agreed to pay $12 million to bring an end to allegations that it failed to identify a series of accounting improprieties at financial holding company R&G Financial Corp.

SEC Settles With Microtune Over Backdating Suit

Wednesday, Jul 02, 2008

Just two days after the U.S. Securities and Exchange Commission filed suit against Microtune Inc. and two former executives over securities backdating, the regulator and the company have reached a settlement.

Pfizer Wins Dismissal Of 4 Claims From Celebrex Suit

Wednesday, Jul 02, 2008

A federal judge has dismissed a handful of claims from a securities class action against Pfizer Inc. over the company’s alleged nondisclosure of studies linking painkillers Celebrex and Bextra to an increased risk of heart attacks and strokes.

Hedge Fund Owner Settles SEC Case For $5M

Wednesday, Jul 02, 2008

A hedge fund manager agreed Tuesday to pay more than $5 million as part of a settlement with the U.S. Securities and Exchange Commission, which alleged he helped his bosses embezzle tens of millions of dollars in investors' cash.

Israel, Not Dead, Surrenders To Authorities

Wednesday, Jul 02, 2008

Samuel Israel III surrendered to Southwick, Mass., authorities Wednesday morning, a few weeks after faking his suicide in an attempt to avoid serving a 20-year sentence for spearheading a $450 million fraud at the bankrupt Bayou Group LLC hedge fund.

9th Circ. Revives LendingTree Insider Trading Case

Tuesday, Jul 01, 2008

In a victory for the U.S. Securities and Exchange Commission, an appeals court has reversed a lower court's grant of summary judgment to a former director of Fidelity National Financial Inc. who was accused of trading on insider information about Fidelity's acquisition of LendingTree Inc.

Schulte Roth Gains Five Lawyers, D.C. Office

Tuesday, Jul 01, 2008

Corporate law firm Schulte Roth & Zabel LLP has poached three partners and two special counsel from the securities practices of Dickstein Shapiro LLP and Morgan, Lewis & Bockius LLP to form the backbone of a brand-new Washington, D.C., office.

State Street Hit With Suit Over Subprime Losses

Tuesday, Jul 01, 2008

A shareholder has launched a putative class action against State Street Corporation and State Street Global Advisors, accusing them of making false statements and material omissions in communications pertaining to the sale of shares in one of their funds.

Judge Won't Let Broker Intervene In Merrill Case

Tuesday, Jul 01, 2008

In the latest development in the long-running class action against Merrill Lynch & Co., a district court judge has denied a former Merrill Lynch broker's motion to intervene as lead plaintiff in the case that accuses the bank of providing research reports containing falsely positive information.

11th Circ. Vacates Restitution In Wilshire Case

Tuesday, Jul 01, 2008

A federal appeals court has vacated about $150,000 in restitution ordered against broker Wilshire Investment Management Corp. for allegedly misleading investors but has upheld other relief in the case.

Delaware To Hear Proxy-Cost Fight Case

Tuesday, Jul 01, 2008

The Delaware Supreme Court has agreed to rule on whether companies have to reimburse shareholders for the costs of even partially successful short-slate proxy contests.

State Court Tosses Remaining Claims Against Grasso

Tuesday, Jul 01, 2008

A New York state court has dismissed the two remaining claims in state Attorney General Andrew Cuomo's lawsuit over former New York Stock Exchange Chairman Richard Grasso's $187.5 million severance package.

Cos. Had Misconceptions About ARS Market: Survey

Monday, Jun 30, 2008

Most companies that invested in the now-defunct auction rate securities market had assumed that they could fall back on Wall Street banks if they faced a credit crunch, according to a liquidity survey.

Par Pharma Shareholders Seek Settlement Approval

Monday, Jun 30, 2008

Par Pharmaceuticals Co. Inc. agreed Friday to overhaul its accounting practices as part of a proposed settlement to a shareholder derivative suit over losses allegedly incurred from falsified business reports.

Guest Column
Guest Column picture

Proposed Rule Changes For Foreign Broker-Dealers

A preliminary analysis of the U.S. Securities and Exchange Commission's proposed rule changes, to allow non-U.S. broker-dealers greater latitude to operate in the U.S. without registering with the SEC, suggests several areas of concern and the need for comment, say Grant Vingoe and Andrew Shipe of Arnold & Porter LLP.

Submit a guest column