David Sanford News
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Bank of America Corp. is impeding an investigation of its loan modification practices by negotiating settlements with borrowers who must agree to keep them secret and not criticize the bank in exchange for cash payments and loan relief, Arizona officials say.
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A unit of Novartis AG, the Swiss drugmaker, won a judge’s preliminary approval of a $99 million settlement in a lawsuit brought by sales representatives who claimed they were denied overtime pay, court records show.
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The U.S. Supreme Court’s rejection of a nationwide class action for female workers suing Wal-Mart Stores Inc. doesn’t foreclose the ability of employees to bring similar suits for many other types of claims against companies.
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A Novartis AG pharmaceuticals unit was ordered to pay a group of 5,600 female employees punitive damages of $250 million, the largest ever employment discrimination verdict according to data compiled by Bloomberg.
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Novartis AG ’s U.S. pharmaceuticals unit should pay $190 million to $285 million in punitive damages on top of the $3.4 million awarded to a dozen women in a gender bias verdict, a plaintiffs’ lawyer said in court.
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A Novartis AG pharmaceuticals unit was ordered to pay $250 million in punitive damages to a group of 5,600 female employees after losing a gender-bias lawsuit, the second largest verdict of 2010.
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Proskauer Rose LLP was sued for employment discrimination in New York by former Chief Financial Officer Elly Rosenthal, who accused the law firm of firing her after she took leave for breast cancer treatment.
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Novartis AG’s U.S. unit agreed to pay as much as $152.5 million to settle a gender-discrimination class action brought by female workers.
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Massachusetts Attorney General Martha Coakley said she may sue major banks after she “lost confidence” that they will reach an adequate agreement to resolve disputes over foreclosure practices.
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The U.S. Supreme Court gave the country’s largest companies a new shield from multibillion- dollar lawsuits, as the justices rejected a bid to sue Wal-Mart Stores Inc. on behalf of more than a million female workers.
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