Court Loosens Limits on Campaign Ads
MARK SHERMAN Associated Press Writer
Monday, June 25, 2007
U.S. Supreme Court turns down case on generic pharmaceuticals
Monday, June 25, 2007
AP) - WASHINGTON-The Supreme Court on Monday refused to consider a lawsuit alleging two pharmaceutical companies conspired to monopolize the market for a drug used to treat breast cancer.
Consumers who filed the suit asked the justices to consider when an agreement not to market a generic drug is a violation of federal law.
The 2nd U.S. Circuit Court of Appeals upheld a federal judge, who concluded the agreement between the two companies did not restrain trade in violation of federal law.
Suit Says Mortgage Firm Paid CEO $10M More Than It Disclosed
Monday, Jun. 25, 2007
By JODINE MAYBERRY, Andrews Publications Staff Writer
A shareholder suit filed in a Delaware federal court alleges that the directors of Countrywide Financial Corp. filed false and misleading proxy statements concealing that they had paid the company's CEO $10 million more in stock options than they claimed.
The International Brotherhood of Electrical Workers Local 98 Pension Fund filed the suit against board of the financial and mortgage services company just one day before Countrywide's annual shareholder meeting in an attempt to enjoin the re-election of three directors...
Justices bar ordinary U.S. taxpayers from suing over White House's religion-based programs
Monday, June 25, 2007
PETE YOST Associated Press Writer
(AP) - WASHINGTON-The Bush administration's religion-based initiatives got a boost from the U.S. Supreme Court in a ruling that says ordinary taxpayers cannot sue to stop White House-sponsored conferences that help religious charities apply for federal grants.
Justices take no action on Enron liability case, for now
(AP) - WASHINGTON-The Supreme Court on Monday put off deciding on the Enron scandal, taking no action in a securities fraud case with billions of dollars at stake for victimized investors.
The case asks whether Enron shareholders can pursue a lawsuit against Wall Street investment banks that did business with the Texas energy company.
The justices have already agreed to consider a similar suit accusing two equipment manufacturers of colluding with a cable TV company to deceive investors.
The administration decided against filing a brief on behalf of the investors in the case, with both President George W. Bush and Treasury Secretary Henry Paulson weighing on the side of the investment banks.
Three months ago, a federal appeals court blocked the $40 billion (€29.7 billion) Enron investors' suit against Merrill Lynch & Co., Credit Suisse First Boston and Barclays Bank PLC.
The suit alleged that they played roles in the accounting fraud that led to Enron's collapse.
Shareholders and investors in the class-action lawsuit had asked the Supreme Court to review the ruling by the 5th U.S. Circuit Court of Appeals. That court reversed a decision by U.S. District Judge Melinda Harmon in Houston, who had said shareholders could sue as a class.
Attorneys general from 30 states have sided with Enron shareholders in their bid for a class action.
The appeals court decision put the case on hold, which was set to go to trial April 16.
So far Enron plaintiffs have recouped $7.3 billion (€5.4 billion), mostly from such financial institutions as Bank of America, JPMorgan Chase & Co., Citigroup and Canadian Imperial Bank of Commerce.
Besides Merrill Lynch, Credit Suisse and Barclays, the remaining defendants include several former Enron officers: Jeff Skilling, the chief executive; Richard Causey, chief accounting officer; Richard Buy, chief risk officer; Jeff McMahon, treasurer; and Mark Koenig, executive vice president of investor relations.
Enron Corp., once the seventh-largest U.S. company, crumbled into bankruptcy in December 2001 after years of accounting tricks could no longer hide billions in debt or make failing ventures appear profitable. The collapse wiped out thousands of jobs, more than $60 billion (€44.57 billion) in market value and more than $2 billion (€1.5 billion) in pension plans.
2007-06-25T15:23:56Z
But wait!!!!Lookee here, the little guy won!!!!
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