In the wake of a buying and selling frenzy, Irish drugmaker Allergan has been subpoenaed by the Department of Justice (DOJ) over antitrust concerns regarding the pricing of its generic drugs. Last week, the company announced a $40.5 billion selloff of its generics unit to the global generic market leader, Israeli-based Teva Pharmaceuticals. That deal
Dodd-Frank strikes again, as the Security and Exchange Commission (SEC) adopted a rule on Wednesday to require most public companies to report the comparison of pay between employees and Chief Executive Officers. The commission voted 3-2, with the two Republican commissioners objecting the mandate to include the comparison in a company’s annual audited financial statement
While it might not affect 11 million customers like Fiat-Chrysler’s 23 separate auto recalls, the consequences for those that own some John Deere tractors could be just as hazardous. The company has announced a recall on nearly 2,100 riding lawn tractors, including 370 in Canada, over a potential brake lever arm malfunction. According to a
Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to
The Security and Exchange Commission (SEC) is treading on thin legal ground, according to Manhattan District Judge Richard Berman, due to the agency’s use of an in-house judicial system. On Monday, Berman refused to dismiss a lawsuit filed by embattled former Standard and Poor’s (S&P) supervisor, Barbara Duka, who was accused of securities fraud by
August is beginning to look like a continuation of July for embattled automaker Fiat-Chrysler, as the company announced on Saturday that it is recalling 322,000 Dodge Chargers from model years 2011-2014. The recall comes after the company received 25 complaints of unintended side-curtain airbag deployments when the doors had been kicked or slammed forcefully. According
Kraft-Heinz announced on Friday that it was recalling about 36,000 cases of individually-wrapped Kraft Singles cheese packs due to a potential choking hazard caused by the packaging. The cases were shipped to stores throughout the U.S., Puerto Rico, and Grand Cayman. The recall applies to 3 and 4 lb. Kraft Singles American and White American
The Ray Charles Foundation, which supports vision and hearing-impaired youth, scored a victory on Friday from a three-judge panel in the 9th Circuit Court of Appeals in San Francisco in a legal battle against seven of Charles’s adult children. Royalties from Charles’s catalog of 51 songs, including hits like “I got a woman,” “Mary Ann,”
Although the 12 countries involved in the Trans-Pacific Partnership (TPP) nearly wrapped up the final negotiations of the agreement this week in Hawaii, a few major roadblocks have caused the countries to leave empty-handed. The Hawaii round was expected to be the final negotiating session after nearly five years of talks between the U.S., Japan,
7/30/2015 In Los Angeles Federal Court on Tuesday, District Judge Dale Fischer dismissed another lawsuit against nutritional products producer, Herbalife, which was accused of being a “pyramid scheme.” The suit was filed against the company by the Oklahoma Firefighters Pension and Retirement System accusing Herbalife of lying to investors about the legitimacy of its business operations.