Ex-McKinsey & Co. director Anil Kumar told a jury that Galleon Group LLC co-founder Raj Rajaratnam secretly hired him as a consultant in 2003 for $500,000 to be paid into a Swiss bank account, in violation of McKinsey rules.
Frank Amodeo, founder of a private- equity fund that sought bankruptcy protection last year, was sentenced to almost 23 years in prison in what prosecutors say was the largest payroll-tax fraud case in U.S. history.
AstraZeneca Plc , the U.K.’s second- biggest drugmaker, agreed to pay about $55 million to settle around 5,500 lawsuits related to side effects of the antipsychotic Seroquel, people familiar with the accords said.
Bank of America Corp. and UBS AG filed claims in London against the region of Lombardy, pre- empting the municipal authority’s plan to sue the banks in the Italian courts in a dispute about derivatives fees.
Amaranth Advisors LLC, the hedge fund that lost $6.6 billion in September 2006, sued Paul Touradji and his employees, seeking at least $350 million for claims including breach of contract and misappropriation of trade secrets.
Pfizer Inc. and Merck & Co. are being pulled into an expanding congressional investigation about the agreement drugmakers reached with the Obama administration to support the Democrats’ overhaul of the U.S. health-care system, according to three people familiar with the talks.
Drugmakers led by Pfizer Inc. , AstraZeneca and Bristol-Myers Squibb Co. may provide more than $2 billion in drug discounts to senior citizens next year under a deal pharmaceutical companies made with the White House, according to data compiled by Bloomberg.
Galleon Group LLC co-founder Raj Rajaratnam had a ready answer for every question U.S. regulators put to him about possible insider trading three years ago, Bloomberg News’s David Glovin and Andrew M. Harris report.