Corporations & securities brief ~ ImClone settles shareholder lawsuits
Leading Monday's corporations and securities law news, ImClone Systems Inc. has agreed to settle a class-action shareholder lawsuit from 2002 for $75 million. The lawsuit accused the company of making false and misleading statements about a prospective...
HealthSouth and the US Department of Justice have reportedly reached a settlement agreement in the wake of allegations the company filed false Medicare reports with the US government, costing tax payers $2.7 billion. The settlement, worth $325 million, will...
United States v. Scrushy, United States District Court for the Northern District of Alabama, Judge Karon Bowdre, November 23, 2004 . Read the files from...
Corporations & securities brief ~ AIG settles with SEC, DOJ
In Tuesday's corporations and securities law news, the SEC announced American International Group Inc. (AIG), the world's largest insurance company, has agreed to pay $126 million to settle charges it helped companies fraudulently inflate earnings. AIG will pay a...
District court upholds constitutionality of Sarbanes-Oxley Act in first challenge
A federal district judge has upheld the constitutionality of the Sarbanes-Oxley Act against a challenge by former HealthSouth CEO Richard Scrushy, the first executive charged under the act last year for his alleged oversight of a scheme to...
