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Author Archives: Bloomberg News

Madoff victim demands evidence of trustee’s claims decision

Lawrence Velvel, a Bernard Madoff victim who is dean of the Massachusetts School of Law, urged a judge to investigate why the liquidator for the con man’s firm chose to ignore fake profit from the fraud when calculating customers’ claims ...

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Dodd offers ‘emergency’ bill on paid flu leave

Sen. Christopher Dodd introduced “emergency” legislation requiring companies to pay employees who miss work because of the swine or seasonal flus. “If paid sick leave had been a reality when this pandemic began, we would be in better shape,” Dodd, ...

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Pfizer broke law by promoting drugs for unapproved uses

Prosecutor Michael Loucks remembers clearly when lawyers for Pfizer Inc., the world’s largest drug company, looked across the table and promised it wouldn’t break the law again. It was January 2004, and the attorneys were negotiating in a conference room ...

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Ex-Bear fund managers not guilty of subprime fraud

Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found not guilty of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and ...

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Convicted sniper Muhammad rejected by U.S. high court

Convicted sniper John Allen Muhammad lost a U.S. Supreme Court bid to stop his execution, scheduled for today in Virginia, for one of 10 killings that terrorized the Washington, D.C., area over three weeks in 2002. Muhammad was convicted of ...

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Google gets more time to revise books settlement

Google Inc. and a group of authors and publishers have until the end of this week to revise a proposed settlement over the company’s plans to make millions of book available online. A revised agreement had been due to be ...

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Connecticut probes Blue Cross over loss of doctor data

Two of WellPoint Inc.’s Blue Cross Blue Shield health plans are being investigated in the loss of tax information and Social Security numbers involving 18,817 Connecticut doctors and health care providers. The information was lost when a personal laptop was ...

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Business method patents questioned by justices

U.S. Supreme Court justices signaled skepticism about giving patent protection to abstract business innovations as they heard arguments in a case that has drawn an unprecedented level of corporate interest. A majority of the court’s nine justices voiced disagreement with ...

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J&J’s Risperdal reps violated policy, witness says

Johnson & Johnson sales representatives in North Carolina appeared to promote the antipsychotic drug Risperdal for unapproved uses and weren’t fired, a former compliance director told a civil jury Monday. John Christopher Tompson testified in the case of Lynn Powell, ...

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