Smokers can’t use New York law to force tobacco giant Altria Group Inc.’s Philip Morris USA unit to pay for tests they claim would provide early detection of lung cancer, the state’s highest court ruled.
Rajat Gupta, the former Goldman Sachs Group Inc. director once accused of feeding inside information to Galleon Group LLC’s Raj Rajaratnam, will face federal charges, a person familiar with the matter said, making him the highest-ranking executive to be named in the probe.
Philip Morris USA won a ruling from the Oregon Supreme Court blocking a $100 million punitive damage verdict awarded to the husband of Michelle Schwarz, an Oregon woman who died of lung cancer in 1999.
Altria Group Inc.’s Philip Morris USA must pay $47.7 million to Oregon, the state’s Supreme Court ruled, rejecting arguments from the biggest U.S. cigarette maker that the tobacco industry’s landmark 1998 settlement with 46 states barred the recovery.
A former vice president in Citigroup Inc.’s treasury finance department, Gary Foster, was charged with embezzling more than $19 million from the bank in what a U.S. prosecutor called “the ultimate inside job.”