A Johnson & Johnson unit violated consumer-protection laws by sending South Carolina doctors a misleading letter about the safety and effectiveness of the antipsychotic drug Risperdal, a jury concluded.
Mark Kurland, a co-founder of New Castle Funds LLC, was ordered to serve 27 months in prison after pleading guilty in the Galleon Group LLC insider-trading case, becoming the first defendant in the scheme to be sentenced.
BP Plc , whose potential liability for the Gulf of Mexico oil spill has lawmakers and analysts raising the specter of bankruptcy, would be unlikely to avoid paying claims by seeking court protection, Bloomberg News’ Margaret Cronin Fisk and Linda Sandler reported after speaking with restructuring experts.
Johnson & Johnson won dismissal of Pennsylvania’s suit alleging that the drugmaker hid health risks of its Risperdal antipsychotic drug and duped officials into paying millions more than they should have for the medicine.
At a time when more than one in five U.S. insider-trading cases involve health-care stocks, the industry’s companies say their policies designed to prevent abuse are sufficient -- or they refuse to publicly discuss the issue at all.
Attorney Olivier Metzner says thousands of Societe Generale SA’s own computer records will clear his client, Jerome Kerviel, of responsibility for the bank’s record 4.9 billion-euro ($6 billion) trading loss, Bloomberg News’ Alan Katz and Heather Smith report.