Legal News

By Patricia Hurtado - Apr 17, 2013 1:09 PM ET The sentencing of former SAC Capital Advisors LP analyst Jon Horvath for insider trading was delayed at the government’s request as he continues to cooperate with prosecutors. U.S. District Judge Richard J. Sullivan in Manhattan agreed to adjourn Horvath’s court date for six more months in a filing dated today. Horvath, a [...]

By David Glovin & Michael Riley - Apr 17, 2013 12:01 AM ET In searching for clues about whether the deadly bombing in Boston had roots in the U.S. or overseas, investigators will scrutinize the bombs themselves, the timing of the blasts and similarities to earlier attacks. Investigators haven’t disclosed whether they believe the bombings are home-grown terrorism or originated [...]

By Sophia Pearson & Jesse Riseborough - Apr 16, 2013 8:35 AM ET A French citizen with ties to BSG Resources Ltd. was charged with witness tampering and attempting to obstruct a probe into whether a mining company paid bribes to win “lucrative” rights in Guinea, according to court documents. Frederic Cilins, 50, was arrested and charged with plotting to destroy documents [...]

By Elisa Martinuzzi & Sergio Di Pasquale – Apr 16, 2013 7:48 AM ET Siena prosecutors are seizing assets from Nomura Holdings Inc. as part of their probe into Banca Monte dei Paschi di Siena SpA’s use of derivatives to hide losses. Photographer: Alessia Pierdomenico/Bloomberg Italian prosecutors are seizing about 1.8 billion euros ($2.4 billion) of [...]

By Elizabeth Amon - Apr 16, 2013 6:58 AM ET Wachtell, Lipton, Rosen & Katz and Wilmer Cutler Pickering Hale & Dorr LLP acted as legal advisers to Thermo Fisher Scientific Inc. (TMO), the second-biggest maker of life-sciences equipment by market value, which agreed to buy Life Technologies (LIFE) Corp. for $13.6 billion in cash in a deal that expands its [...]

By David McLaughlin – Apr 16, 2013 12:01 AM ET AMR Corp., the parent of American Airlines, filed a plan to exit bankruptcy protection that hinges on creating the world’s largest airline through a merger with US Airways Group Inc. (LCC) American, based in Fort Worth, Texas, won court approval March 27 to proceed with the combination, [...]

By Stephanie Bodoni - Apr 15, 2013 6:05 AM ET Google Inc. (GOOG)’s offer to settle an antitrust probe with the European Union by labeling its own services more clearly in Web search results is a “non-starter” for a group of competitors such as Microsoft Corp. (MSFT), Foundem and Streetmap. The companies and at least 10 other rivals that [...]

By Kathleen Hunter & Roxana Tiron - Apr 15, 2013 12:01 AM ET Movement on gun control and immigration in the U.S. Senate obscures an inevitable roadblock to either measure: a resistant Republican-run House. Obstacles in the House of Representatives to expanding background checks for gun-buyers may be enough to scuttle an initiative that President Barack Obama has pressed in the aftermath of the Newtown, Connecticut, school shootings. [...]

By Renee Dudley – Apr 14, 2013 6:00 PM ET Wal-Mart Stores Inc. (WMT) and Sears Holdings Corp. (SHLD) have so far declined to join Li & Fung Ltd. and other companies in voluntarily compensating victims of a fire last year at a Bangladesh garment factory. Wal-Mart and Sears also didn’t respond to an invitation to attend a [...]

By Bob Van Voris – Apr 12, 2013 10:36 AM ET Kareem Serageldin, the ex-global head of Credit Suisse Group AG (CSGN)’s structured credit trading business, is scheduled to plead guilty to criminal charges today in Manhattan federal court, a court clerk said. Serageldin is charged with leading a 2007 scheme to mark up the value [...]

By Karen Gullo & Janelle Lawrence - Apr 12, 2013 8:41 AM ET Biolitec AG (BIB) Chief Executive Officer Wolfgang Neuberger was ordered arrested by a federal judge in Massachusetts who said Neuberger failed to comply with a court order to not carry out a merger with Biolitec’s Austrian subsidiary. The order was issued in a lawsuit brought against the German [...]

By Edvard Pettersson – Apr 12, 2013 12:01 AM ET Scott London, the former KPMG LLP partner who led the firm’s audit practice in Los Angelesand was charged with passing inside tips to a friend, will plead guilty, his lawyer said. London, 50, was charged by federal prosecutors in Los Angeles with passing inside information about Herbalife Ltd. [...]

By Greg Stohr & Susan Decker - Apr 12, 2013 12:00 AM ET For 30 years, biotechnology innovators have secured thousands of U.S. patents on genes, defining the legal rights to medical and agricultural products worth hundreds of billions of dollars. Now the U.S. Supreme Court is considering whether that was all a big mistake. The court next week will [...]

By Lindsay Fortado – Apr 11, 2013 11:46 AM ET Google Inc. (GOOG), operator of the world’s largest search engine, was sued in London by a U.K. Internet company for promoting its own maps over those of competitors in what it claimed was “Google’s cynical manipulation of search results.” Streetmap, a provider of Internet maps, [...]

By Erik Larson - Apr 11, 2013 12:26 AM ET Chesapeake Energy Corp. (CHK) is seeking a court order for Bank of New York Mellon Corp. to hand over e-mails showing the motive behind its bid to block the natural gas company from redeeming $1.3 billion in bonds early at par. BNY Mellon, the trustee for the notes due March 2019, [...]

By Joel Rosenblatt - Apr 11, 2013 12:01 AM ET OppenheimerFunds Inc. doesn’t have to face a $700 million lawsuit related to its use of the so- called AAArdvark arbitrage system, a New York state court judge ruled. New York Supreme Court Judge Charles E. Ramos dismissed fraud claims by TSL USA Inc., Bryant Park Funding LLC and Liberty Street Funding [...]

By Thomas Korosec & Andrew Harris - Apr 11, 2013 12:00 AM ET R. Allen Stanford’s investors may now be able to recoup some of their losses more than four years after the Stanford Group Co. founder was sued by the U.S. Securities and Exchange Commission and put out of business. Ralph Janvey, the receiver appointed by a federal judge [...]

By Vinicy Chan - Apr 10, 2013 8:01 AM ET Qiaodan Sports Co. (QDTYSZ), a closely held Chinese sportswear company, said it sued former National Basketball Association star Michael Jordan for $8 million in damages after his lawsuit claiming unauthorized use of his name. The Fujian-based retailer’s suit was accepted by the Quanzhou City Intermediate People’s Court in Fujian on [...]

By Valerie Miller & Jef Feeley - Apr 10, 2013 12:10 AM ET Two UnitedHealth Group Inc. (UNH) units must pay $500 million in punitive damages for failing to oversee a doctor blamed for giving colonoscopy patients hepatitis C through shoddy medical practices, a Nevada jury found. Jurors in state court in Las Vegas deliberated more than six hours yesterday before handing down the [...]

By Don Jeffrey & Sarah Earle - Apr 10, 2013 12:01 AM ET Exxon Mobil Corp. (XOM) will appeal a $236 million New Hampshire verdict in a case over the use of the gasoline additive MTBE, after having gotten a much larger award in a similar dispute thrown out by a court in Maryland. After an almost three-month trial, a jury in Concord took [...]