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March 2005

March 23, 2005

AIG fires two top executives

posted by Wire Reports

SAN FRANCISCO (MarketWatch) -- American International Group fired two top executives for not cooperating with regulators' investigations into the giant insurer's use of so-called finite risk reinsurance.

Source: MarketWatch


March 22, 2005

Ex-head of U.S. home finance board admits lying

posted by Wire Reports

WASHINGTON, March 22 (Reuters) - The former chairman of the Federal Housing Finance Board on Tuesday agreed to plead guilty to making false statements to a U.S. Senate committee...

Source: Reuters


March 16, 2005

J.P. Morgan settles for $2B

posted by Wire Reports

NEW YORK (CNN/Money) - J.P. Morgan Chase & Co. said Wednesday it would pay $2 billion to settle an investor lawsuit brought after an $11 billion accounting scandal forced WorldCom Inc. to declare the largest bankruptcy in U.S. history.

Source: CNN


March 11, 2005

Bradley Pharmaceuticals Announces Class Action Litigation, 10-K Delay and Guidance Withdrawal

posted by Wire Reports

FAIRFIELD, N.J., March 11 /PRNewswire-FirstCall/ -- Bradley Pharmaceuticals, Inc. (NYSE: BDY) today announced that purported class action lawsuits have been filed in the United States District Court for the District of New Jersey against the Company and, in some cases, certain of its officers.

Source: PR Newswire


March 10, 2005

GlaxoSmithKline embroiled in Medicaid investigation

posted by Wire Reports

LONDON (ShareCast) - The US Justice Department is investigating drug maker GlaxoSmithKline's nominal pricing arrangements, which may infringe Medicaid rules.

Source: Yahoo / Sharecast


March 08, 2005

ChoicePoint security breach probed

posted by Wire Reports

ChoicePoint of Alpharetta, Ga.,, is facing two federal investigations relating to a security breach in its databases on some 145,000 people.

Source: newkerala / UPI


Stock Buyer Class Action Filed Against ChoicePoint

posted by Wire Reports

As data provider ChoicePoint Inc. filed its Form 8-K with the Securities and Exchange Commission and vowed to cooperate during an investigation of the circumstances surrounding recent executive stock sales Friday, a law firm filed a class action lawsuit on behalf of stockholders against the company in California.

Source: DM News


ChoicePoint data cache was a powder keg

posted by Wire Reports

Speaking with a lilting accent, the man said he was an executive with a Los Angeles company called M.B.S Financial. He told an employee at ChoicePoint Inc. that he wanted to open an online account with the company to receive electronic reports on people.

Source: Concord Monitor / Washington Post


Merrill to pay $23.5 mln in market timing case

posted by Wire Reports

Merrill Lynch & Co. agreed to pay $23.5 million to the New York Stock Exchange and the state of New Jersey, promising reforms to resolve allegations it failed to supervise employees who made improper mutual fund trades.

Source: Reuters/Yahoo! Finance


Will the Real Corporate Hit Men Please Stand Up?

posted by Wire Reports

Meditations on 9/11 Truth by Catherine Austin Fitts

Source: From The Wilderness


Did Justice Department Seek to Bury Novartis Unit's Criminal Plea?

posted by Wire Reports

Norvatis Corporation, pleads guilty to nine felony counts of obstructing an audit, and is hit with a $4.5 million fine and pays $44 million to settle civil False Claims Act charges.

Source: CORPORATE CRIME REPORTER


Governor joins counterattack on corporate reform

posted by Wire Reports

Gov. Arnold Schwarzenegger says getting rid of public pension plans for California's state and local government workers is about helping to balance the budget.

Source: San Jose Business Journal


Martha Stewart returns to work

posted by Wire Reports

Lessons she learned from a cross-section of people she met during five months in federal prison will be reflected in her company.

Source: Business Week


Boeing leader ousted

posted by Wire Reports

CEO Stonecipher is forced out after admitting affair with executive.

Source: SEATTLE POST-INTELLIGENCER


Regulators Eye Reinsurance, AIG Reserves

posted by Wire Reports

Investigators are reportedly examining whether American International Group used a contract purchased from General Reinsurance, an affiliate of Berkshire Hathaway, to inflate its reserves for the fourth quarter of 2000.

Source: CFO.com


Former employee says Biogen gave kickbacks - WSJ

posted by Rick Gagliano

NEW YORK, March 8 (Reuters) - Biogen Idec Inc. (BIIB.O: Quote, Profile, Research) has been accused by a former employee of giving illegal discounts to doctors to boost sales of its products, including the psoriasis drug Amevive, the Wall Street Journal said on Tuesday.

Source: Reuters


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