Wachovia Announces Jane Sherburne to Become New General Counsel

Doug Esten — Mon, 12 May 2008 16:05:37 GMT

CHARLOTTE, N.C. –Wachovia announced Monday, May 12, that Jane Sherburne, currently General Counsel for Citigroup's Global Consumer Group, has accepted the position of General Counsel for Wachovia. She will assume the role later this summer when Mark Treanor retires. Treanor announced his intention to retire last year.

WASHINGTON –Kilpatrick Stockton and Muldoon Murphy & Aguggia today jointly announced the merger of their high-profile firms. The combined firm will be known as Kilpatrick Stockton. The merger was effective on May 7, 2008.

The combination of the two firms brings together many of the nation's leading att

Person Close To Talks: Cablevision Close To Getting Newsday

LexisNexis Corporate & Business Law Center Staff — Mon, 12 May 2008 08:03:04 GMT

NEW YORK – (AP) Cablevision Systems Corp. is close to buying the Long Island newspaper Newsday from Tribune Co. for $650 million, a person with knowledge of the situation said Sunday.

The deal, which could be announced as soon as Monday, would net Cablevision, a cable TV company also based on Long Isl

ArcelorMittal Sues Esmark Over Aborted Steel Mill Sale

LexisNexis Corporate & Business Law Center Staff — Mon, 12 May 2008 07:57:36 GMT

BALTIMORE – (AP) ArcelorMittal, the world's largest steelmaker, filed a lawsuit against steelmaker Esmark over the aborted sale of a steel mill near Baltimore.

Luxembourg-based ArcelorMittal claims that Esmark breached its August 2007 agreement to purchase the Sparrows Point p

SEC Aims To Get Tough

LexisNexis Corporate & Business Law Center Staff — Mon, 12 May 2008 07:44:49 GMT

(AP) – Investors and the Securities and Exchange Commission were both caught off guard by the subprime rout and the collapse of Bear Stearns Cos.

Groups Say Companies May Violate NY Campaign Giving Limits

LexisNexis Corporate & Business Law Center Staff — Mon, 12 May 2008 07:40:38 GMT

ALBANY, N.Y. – (AP) A study conducted by good-government groups says dozens of corporations with business before the Legislature may have exceeded the legal limit in 2007 on how much they can legally contribute to candidates.

The campaign filings released Thursday identify more than 100 companies that appe

Bear Stearns Sale To JPMorgan Chase Set For Vote May 29

LexisNexis Corporate & Business Law Center Staff — Fri, 09 May 2008 12:00:00 GMT

NEW YORK – (AP) Bear Stearns Cos. shareholders are scheduled to vote on the proposed acquisition of the investment bank by JPMorgan Chase & Co. on May 29, according to a regulatory filing.

If the vote on the sale fails, Bear Stearns said in the filing it will likely have to cut "significant number

Marvell Technology Paying $10M To Settle Case

LexisNexis Corporate & Business Law Center Staff — Fri, 09 May 2008 11:39:40 GMT

WASHINGTON – (AP) Semiconductor maker Marvell Technology Group Ltd. on Thursday agreed to pay a $10 million civil fine to settle regulators' allegations of improper backdating of stock options.

The Securities and Exchange Commission announced the settlement with the Silicon Valley company for allegedl

SEC Freezes Assets Of Michigan Man For Alleged Web Fraud

LexisNexis Corporate & Business Law Center Staff — Fri, 09 May 2008 11:33:34 GMT

WASHINGTON – (AP) Federal regulators have won a court order freezing the assets of a Michigan man they accuse of bilking $72 million over the Internet from more than 3,000 investors around the world.

Gregory McKnight sold unregistered securities, promising investors returns as high as 15 percent a month &

Noranda Aluminum Registers For IPO

LexisNexis Corporate & Business Law Center Staff — Fri, 09 May 2008 11:16:16 GMT

NEW YORK – (AP) Noranda Aluminum Holding Corp., which produces aluminum products and rolled aluminum coils, plans an initial public offering of its common stock, according to a Securities and Exchange Commission filing on Thursday.

The Franklin, Tenn.-based company produces aluminum products and rolled al

Wind Energy Company Noble Environmental Plans IPO

LexisNexis Corporate & Business Law Center Staff — Fri, 09 May 2008 11:00:39 GMT

NEW YORK – (AP) Wind energy company Noble Environmental Power Inc. has registered for an initial public offering of common stock, according to a Securities and Exchange Commission filing on Thursday.

Noble did not disclose the expected size or price range of the IPO, but indicated the offering price may t

Murdoch Sees Clinching Newsday Soon; News Corp. Profit Jumps

LexisNexis Corporate & Business Law Center Staff — Thu, 08 May 2008 08:10:38 GMT

NEW YORK – (AP) News Corp. CEO Rupert Murdoch said Wednesday he expects to clinch a deal to buy the Long Island-based newspaper Newsday within a week, despite a higher offer from Cablevision Systems Corp.

The news came as the global media conglomerate reported that its latest quarterly earnings more than

Oil Companies Agree To Settle MTBE Contamination Lawsuits

LexisNexis Corporate & Business Law Center Staff — Thu, 08 May 2008 07:45:37 GMT

NEW YORK – (AP) At least two major oil companies said late Wednesday they have agreed to settle lawsuits over the use of the gasoline additive MTBE, a potential carcinogen that has been found in drinking water.

Representatives of Valero Energy Corp. and Chevron Corp. said they had joined the settleme

SEC's Cox Calls For Better Oversight Of Wall Street Banks

LexisNexis Corporate & Business Law Center Staff — Thu, 08 May 2008 07:33:59 GMT

WASHINGTON – (AP) The Securities and Exchange Commission or some other financial regulator should be given clear authority to oversee all operations of Wall Street's largest investment banks, SEC Chairman Christopher Cox said Wednesday.

In a speech to a meeting of the Security Traders Association, Cox sai

Ahead Of The Bell: Delta, Northwest To Defend Airline Merger

LexisNexis Corporate & Business Law Center Staff — Thu, 08 May 2008 07:27:02 GMT

WASHINGTON – (AP) The chief executives of Delta Air Lines Inc. and Northwest Airlines Corp. are scheduled to appear at another hearing on Capitol Hill Wednesday as they continue to rebut some lawmakers' concerns about the carriers' proposed combination.

Delta CEO Richard Anderson and Northwest C

Countrywide Financial Admits Employees Made Errors

LexisNexis Corporate & Business Law Center Staff — Wed, 07 May 2008 08:03:53 GMT

WASHINGTON – (AP) Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers' fees, acknowledged Tuesday that it has made errors and pledged to take steps to improve its operations.

Steve Bailey, chief executive for loan administration at Countrywide, told a

Ex-Dynegy Executive Seeks Judge's Removal

LexisNexis Corporate & Business Law Center Staff — Wed, 07 May 2008 07:59:52 GMT

HOUSTON – (AP) A former midlevel Dynegy Inc. executive who is appealing his convictions for helping foster a multimillion-dollar accounting scam asked Tuesday for the judge in his case to be removed.

In a court filing, Jamie Olis' attorneys contend that U.S. District Judge Sim Lake cannot be impartial &he

President Bush To Nominate Paredes For SEC Commissioner Post

LexisNexis Corporate & Business Law Center Staff — Wed, 07 May 2008 07:54:29 GMT

WASHINGTON – (AP) President Bush on Tuesday intends to nominate a professor from the Washington University School of Law to fill a Republican member vacancy of the Securities and Exchange Commission.

Troy Paredes, who has taught securities regulation, corporate governance and other subjects at the St. Lou

AMD Jumps On Intel Antitrust Suit, Potential Restructuring

LexisNexis Corporate & Business Law Center Staff — Wed, 07 May 2008 07:50:10 GMT

NEW YORK – (AP) Shares of Advanced Micro Devices Inc. continued to rise Tuesday as documents revealed the chip maker filed an antitrust lawsuit against competitor Intel Corp. and an analyst said the company may be close to retooling its manufacturing practices.

The company confirmed Monday that it has fil

Video Game Company Sues Chicago Transit Agency Over Ads

LexisNexis Corporate & Business Law Center Staff — Wed, 07 May 2008 07:43:49 GMT

CHICAGO – (AP) The publisher of "Grand Theft Auto" says the Chicago Transit Authority interfered with its free-speech rights by allegedly removing ads for the latest version of the hugely popular video game.

Take-Two Interactive Software wants a federal judge to stop the CTA from taking dow

Atkins Leaving SEC After Term End

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 08:13:31 GMT

WASHINGTON – (AP) Paul Atkins, one of three Republican members of the Securities and Exchange Commission, announced Monday that he will leave the agency following the end of his term on June 5.

Atkins, widely considered the most conservative member of the SEC in recent years with the strongest free-market

Defense Contractor Admits Obstruction, Will Pay $9.5M

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 08:10:17 GMT

PHILADELPHIA – (AP) A defense contractor accused of overcharging the U.S. government for radar components pleaded guilty Monday to obstruction and will pay $9.5 million in fines, federal authorities said.

Herley Industries Inc., based in Lancaster County, admitted to two counts of obstructing audits o

Feds Say Columbia Real Estate Brokers Block Competition

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 08:04:05 GMT

COLUMBIA, S.C. – (AP) Federal antitrust lawyers say a group of real estate brokers uses a listing service to illegally stifle competition in the Columbia area, preventing fees for home buyers and sellers from going down.

The Justice Department's antitrust division charges that in order to use the Consolid

EEOC: Conectiv, Others Will Pay $1.65M To Settle Racial Suit

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 07:54:28 GMT

PHILADELPHIA – (AP) Conectiv Energy and three subcontractors will pay $1.65 million to settle a discrimination lawsuit filed by four black workers who said they were subjected to racial slurs, Ku Klux Klan graffiti and a noose that was left hanging for more than a week.

The U.S. Equal Employment Opportuni

SC Justices: Witnesses May Testify Against Ex-HomeGold Exec

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 07:43:36 GMT

COLUMBIA, S.C. – (AP) Several witnesses previously barred from testifying against a former HomeGold Financial Inc. executive may take the stand at his trial, the South Carolina Supreme Court ruled Monday.

The court unanimously overruled a lower court's decision preventing four former Carolina Investors off

Regulators Place Conditions On Agrium's $2.65B Buyout Of UAP

LexisNexis Corporate & Business Law Center Staff — Tue, 06 May 2008 07:35:19 GMT

WASHINGTON – (AP) Federal regulators said Monday they have cleared agricultural products retailer Agrium Inc. 's $2.65 billion purchase of UAP Holding Corp., after the two companies agreed to sell seven stores to satisfy competition concerns.

The Federal Trade Commission said the deal, which was announced

Standard & Poor's Cuts Countrywide To Junk Status

LexisNexis Corporate & Business Law Center Staff — Mon, 05 May 2008 07:26:23 GMT

NEW YORK – (AP) Standard & Poor's is cutting Countrywide Financial's rating to junk status.

The credit rating ratings agency slashed Calabasas, Calif.-based Countrywide's rating to "BB+/B."

Amazon Sues NY Over Internet Sales Tax Collection

LexisNexis Corporate & Business Law Center Staff — Mon, 05 May 2008 07:18:12 GMT

Amazon.com is suing New York over a new law that requires out-of-state online companies to collect sales tax from shoppers in New York.

"We are challenging the constitutionality of the recently enacted legislation in New York," Amazon spokeswoman Patricia Smith said.

CLEVELAND – (AP) An Ohio newspaper's parent company, which owns stock in National City Corp., has sued seeking to block a $7 billion deal that is expected to rescue the bank from bad loans tied to home mortgage lending.

National City made a regulatory filing Friday that says it has completed the deal

Ore. Court Rejects Medical Costs Claim On Tobacco Industry

LexisNexis Corporate & Business Law Center Staff — Mon, 05 May 2008 07:07:26 GMT

PORTLAND, Ore. – (AP) The same Oregon court that slapped Big Tobacco with a huge punitive damages award has handed the industry a victory by rejecting a class-action lawsuit for medical monitoring costs in a case where harm had yet to occur.

Oregon's high court ruled unanimously Thursday that smokers must

Safety-Kleen Registers For Initial Public Offering

LexisNexis Insurance Center Staff — Fri, 02 May 2008 14:42:01 GMT

Safety-Kleen Registers For Initial Public Offering

NEW YORK – (AP) Safety-Kleen HoldCo., a provider of used-oil collection, re-refining, recycling and parts cleaning services, plans an initial public offering, according to a Securities and Exchange Commission filing on Thursday.

Banc of America Unit Paying $6M In SEC Settlement

LexisNexis Corporate & Business Law Center Staff — Fri, 02 May 2008 14:36:43 GMT

WASHINGTON – (AP) Banc of America Investment Services Inc. is paying about $6 million in fines and restitution to settle federal regulators' charges of failing to tell customers that it favored two of its own mutual funds in selecting certain investments.

The actions by Banc of America Investment fro

EEOC Says 58 Discrimination Claims At Bloomberg LP

LexisNexis Corporate & Business Law Center Staff — Fri, 02 May 2008 14:29:51 GMT

NEW YORK – (AP) The number of women accusing the financial data and news service company founded by Mayor Michael Bloomberg of discrimination has risen from three to 58, with more likely to be added, a lawyer told a judge Thursday.

The disclosure widens the scope of a lawsuit against Bloomberg LP …

BA Looks At Ways To Cooperate With American, Continental

LexisNexis Corporate & Business Law Center Staff — Thu, 01 May 2008 07:52:56 GMT

LONDON – (AP) British Airways PLC said Wednesday that it is considering ways of cooperating with American Airlines and Continental Airlines Inc.

U.S. airlines have been scrambling to combine or form new alliances since Delta Air Lines Inc. and Northwest Airlines Corp. announced plans to join tog

Ex-Monster Worldwide Officer Charged In Options Dating Case

LexisNexis Corporate & Business Law Center Staff — Thu, 01 May 2008 07:48:29 GMT

NEW YORK – (AP) The former chief operating officer of the employment services company Monster Worldwide was arrested Wednesday, charged with backdating stock option grants to employees between 1997 and 2003.

James Treacy, 50, of Glen Rock, N.J., was charged with conspiracy to commit securities fraud,

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