Two former directors of US drug company Bristol-Myers Squibb are been sued for civil damages after being accused of masterminding a $1.5bn ($833m) fraud.
The Securities and Exchange Commission watchdog alleges that Frederick Schiff and Richard Lane devised a scheme to inflate sales and profits at the firm
A former employee of Halliburton subsidiary KBR has admitted taking $110,300 (£61,225) in bribes from an Iraqi firm it awarded a US contract.
The $609,000 contract was to renovate warehouse and office space in Iraq.
Glenn Allen Powell – whom KBR has fired – faces up to 20 years in jail and a fine of up to $1
US drugs giant Merck has been ordered to pay $253.4m (£141.07m) to the widow of a man who died from a heart attack blamed on the popular painkiller Vioxx
Drinks giant Coca-Cola has been ordered to close one of its largest bottling plants in India for breaching environmental regulations.
Closure with immediate effect has been ordered by the Pollution Control Board of the southern state of Kerala.
The plant in the village of Plachimada is one of 27 that the soft drinks company has in India
P Morgan Chase has agreed to pay about $1bn (£554m) to settle claims that it contributed to the collapse of former energy trader Enron four years ago.
The bank will pay $350m in cash and meet claims totalling another $660m.
Enron has previously asserted that 10 banks aided and abetted in its collapse, but the settlement is the first with a US bank
Worldcom’s former finance chief has been sentenced to five years in jail for his part in the largest accounting fraud in US corporate history.
Scott Sullivan played a key role as a “star” prosecution witness in the case against former Worldcom chief Bernie Ebbers who was jailed for 25 years.
The 43-year-old pleaded guilty to conspiracy, securities fraud and making false financial filings
Semiconductor maker Intel is facing a probe into its sales practices in South Korea, echoing similar inquiries in Europe and Japan.
Intel revealed it was co-operating with the country’s Fair Trade Commission which has requested documents relating to marketing and rebate schemes.
Earlier this year the firm was rebuked for violating antitrust laws in Japan, and is also under scrutiny by Brussels
Time Warner said today that it had agreed to pay $2.4 billion to shareholders who accused its AOL unit in a lawsuit of exaggerating revenues in order to push through the companies’ merger in 2001.
The cost of settling the legal dispute offset all of Time Warner’s earnings from the second quarter, and the company posted a net loss of $321 million
A former Google sales executive has filed a lawsuit against the search giant, alleging it engaged in job discrimination while she was pregnant with quadruplets.
Christina Elwell, who was promoted to national sales director in late 2003, alleges her supervisor began discriminating against her in May 2004, a month after informing him of her pregnancy and the medical complications she was encountering, according to the lawsuit filed July 17 in a U.S
A pension fund that holds shares of Morgan Stanley has sued the giant investment bank’s directors, claiming they wasted corporate assets through “grotesque mismanagement,” including paying more than $100 million to two departing executives.
The suit, filed yesterday in U.S