By Jonathan Stempel
(Reuters) – Amtrak has asked a U.S. judicial panel to
consolidate lawsuits before a single judge in Philadelphia over
the May 12 train derailment that killed eight people and injured
more than 200.
The railroad on Tuesday joined many plaintiffs in requesting
that the U.S. Judicial Panel on Multidistrict Litigation appoint
U.S. District Judge Legrome Davis, who already oversees 16 cases
stemming from the accident, to handle all 22 existing lawsuits
plus “numerous” others it expects to be filed.
By Jonathan Stempel
(Reuters) – AlphaBridge Capital Management LLC and its owners will pay $5 million to settle U.S. Securities and Exchange Commission charges that they fraudulently inflated the prices of mortgage-backed securities in their hedge fund portfolios to boost fees.
Wednesday’s settlement calls for the Greenwich, Connecticut-based firm, Thomas Kutzen and Michael Carino to give up $4.03 million of profit and pay a combined $975,000 of civil fines.
NEW YORK (Reuters) – A U.S. judge has refused to dismiss Allied Irish Banks Plc’s lawsuit accusing Citigroup Inc of helping rogue currency trader John Rusnak rack up a $691 million loss.
In a decision on Tuesday, U.S. District Judge Deborah Batts in Manhattan said government-controlled AIB may pursue a variety of fraud claims against Citigroup in its lawsuit seeking $500 million of compensatory damages plus punitive damages.
June 30 (Reuters) – A former BP Plc engineer deserves
a new trial on an obstruction of justice charge related to the
2010 Gulf of Mexico oil spill, a federal appeals court ruled on
The 5th U.S. Circuit Court of Appeals in New Orleans agreed
with a lower court judge’s decision last June to throw out the
defendant Kurt Mix’s December 2013 conviction.
By Jonathan Stempel
(Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) will pay $7 million to resolve U.S. Securities and Exchange Commission charges stemming from a programming error that caused the stock options market to be flooded with erroneous orders, roiling traders and prices.
Tuesday’s settlement, in which Goldman did not admit wrongdoing, arose from an Aug. 20, 2013 incident that was among a series of high-profile mishaps, including the 2010 “flash crash,” linked to computers.
NEW YORK (Reuters) – The United States says Novartis AG
should pay as much as $3.35 billion in damages and
civil fines because the Swiss drugmaker used kickbacks to boost
sales of two drugs covered by Medicare and Medicaid.
In papers filed Monday night in Manhattan federal court, the
government said it deserves that sum under the federal False
Claims Act over alleged improper reimbursements for Exjade, used
by patients who receive blood transfusions, and Myfortic, for
patients with kidney transplants.
NEW YORK (Reuters) – A divided federal appeals court on Tuesday said Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) orchestrated a conspiracy with five publishers to increase e-book prices, in a victory for the U.S. Justice Department.
By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in imposing an injunction to prevent a recurrence.
June 29 (Reuters) – The U.S. Food and Drug Administration
was sued by two advocacy groups seeking to force the faster
disclosure of clinical trial data that helped Gilead Sciences
Inc win approval for two blockbuster hepatitis C drugs.
In their June 25 lawsuit, Yale University’s Global Health
Justice Partnership and the Treatment Action Group, an AIDS
non-profit, said doctors and patients deserve more information
about the “enormously costly” drugs Harvoni and Sovaldi to make
informed decisions about whether to use them.
NEW YORK, June 29 (Reuters) – Walgreen Co will pay $2.55
million to settle charges by New York’s attorney general that a
pharmacy unit improperly billed Medicaid for costly drugs to
treat hemophilia patients, without proof that it actually
delivered the drugs to those patients.
Attorney General Eric Schneiderman on Monday said his audit
of Medicaid billings by Trinity HomeCare LLC found improper
conduct and false billings from 2007 to Sept. 2011.
NEW YORK (Reuters) – A U.S. appeals court said banks that enter repurchase agreements with brokerages do not qualify as “customers” entitled to special legal protections when those brokerages fail, in a case arising from Lehman Brothers Holdings Inc’s 2008 bankruptcy.
Monday’s decision by the 2nd U.S. Circuit Court of Appeals may free James Giddens, the trustee liquidating Lehman’s brokerage unit, to distribute more money to its unsecured creditors.