Jay Eisenhofer News
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News Corp.’s directors agreed to a $139 million settlement of investors’ claims that they turned a blind eye to illegal conduct at the media company, including phone hacking by employees.
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Pfizer Inc., the world’s biggest drugmaker, lost a court bid to dismiss investors’ claims that company executives misled them about the prospects for arthritis drugs Celebrex and Bextra.
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Grant & Eisenhofer , a law firm specializing in shareholder litigation, was sued by an investor in Tyco International Ltd. over claims it committed malpractice by taking excessive fees from Tyco’s $3.2 billion settlement.
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Kaye Scholer LLP is the latest law firm to announce plans to relocate its back office operations to a cheaper location. The firm said yesterday it will establish an operations center in Tallahassee, Florida, to centralize its support functions in one location. The center will house about 100 Kaye Scholer employees who handle accounting, document services, graphics, technology, library services, docketing, human resources and marketing matters, the firm said.
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News Corp. directors failed to stop illegal conduct at the media company, including phone hacking, and should face lawsuits by shareholders seeking to hold them accountable, a lawyer for investors told a judge.
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Pfizer Inc. destroyed documents about the development of its Celebrex and Bextra arthritis drugs while denying the existence of electronic databases containing millions of files about the medicines, lawyers for some of the company’s investors said in court filings.
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The Obama administration’s requirement that most citizens maintain minimum health coverage as part of a broad overhaul of the industry is unconstitutional a federal judge ruled, striking down the linchpin of the plan.
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Robert Moffat, an ex-International Business Machines Corp. senior vice president ordered to spend six months in prison for his role in an insider-trading scheme, will start serving his sentence early to get it out of the way.
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James J. Hayes agreed to use $300,000 he was paid in a lawsuit settlement in 2008 to start a foundation to create “a more harmonious working relationship between shareholders and their advocates.”
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Morgan Stanley Chairman John Mack and Chief Executive Officer James Gorman sought to defeat a shareholder lawsuit over allegedly “unconscionable” compensation paid to employees.
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