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Author Archives: Bloomberg News

Pfizer must pay $6.3 million in damages over Prempro

Two Pfizer Inc. units’ hormone-replacement therapy drugs caused an Illinois woman’s breast cancer, making them liable for at least $6.3 million in damages, a Philadelphia jury ruled Friday. Jurors deliberated about five hours before finding that the combination of Wyeth’s ...

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Burris gets ‘qualified admonition’ from Senate panel

The U.S. Senate Ethics Committee admonished Sen. Roland Burris of Illinois for giving “inconsistent” and “misleading” testimony regarding his appointment to fill the seat vacated by President Barack Obama. The ethics panel issued a letter of “qualified admonition” that said ...

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Charter lenders want judge to block bankruptcy exit

Charter Communications Inc.’s lenders, led by JPMorgan Chase & Co., want to block the cable company from leaving Chapter 11 bankruptcy while they appeal approval of its turnaround plan. U.S. Bankruptcy Judge James Peck in Manhattan is improperly requiring them ...

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Philip Morris must pay smoker almost $300M

Altria Group Inc.’s Philip Morris USA, the largest U.S. tobacco company, lost a $300 million jury verdict in a lawsuit brought by a former smoker in Florida who suffers from emphysema. The Broward Circuit Court jury on Thursday awarded Cindy ...

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Obama health-care battle in Congress portends fight in court

President Barack Obama’s drive to expand the health-insurance system may survive the legislative gauntlet. After that, the litigation gauntlet begins. Critics of the proposals, including Republican Sen. Orrin Hatch of Utah, are already laying the groundwork for constitutional challenges. They ...

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AstraZeneca’s Seroquel study found no link to diabetes onset

A study by AstraZeneca Plc found “no significant” link between the company’s antipsychotic drug Seroquel and the onset of diabetes, an expert witness said at a pre-trial hearing on lawsuits over the product. Dr. Paul D. Woolf, a Philadelphia-based doctor ...

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Bankruptcies will rise next year, reorganization lawyer predicts

U.S. companies will increasingly declare bankruptcy next year as high-yield debt matures, said Harvey Miller, the lawyer who handled the reorganizations of Lehman Brothers Holdings Inc. and General Motors Corp. Filings from commercial real estate firms will be part of ...

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Obama judicial choice confirmed by Senate

The Senate confirmed U.S. District Court Judge David Hamilton of Indiana to a federal appeals court vacancy, overcoming objections from Republicans who said he embraced a “liberal activist” judicial philosophy. The Senate voted 59-39 to promote Hamilton. He was nominated ...

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FHA, prime mortgage defaults at records on job losses, according to MBA report

Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to three-decade highs in the third quarter, driven by the biggest job losses since the Great Depression. One out of every six FHA mortgages was late ...

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Katrina victims win $719,698 from United States in first trial

Hurricane Katrina victims were awarded $719,698 in damages by a judge in a lawsuit claiming a canal dredged by the U.S. Army Corps of Engineers from New Orleans to the Gulf of Mexico destroyed a natural barrier to a storm ...

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Charter concludes ‘most complex prearranged bankruptcy ever’

St. Louis-based Charter Communications has obtained formal approval for its hotly contested reorganization plan when the bankruptcy judge signed a confirmation order and wrote an 82-page opinion giving his reasons in detail. U.S. Bankruptcy Judge James M. Peck called Charter’s ...

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