Latest Corporate legal affairs News

SEC says Musk's contempt defense 'borders on the ridiculous'

Mar. 19, 2019 11:59 AM EDT

DETROIT (AP) — U.S. securities regulators countered Tesla CEO Elon Musk's contempt-of-court defense Monday night, writing in court papers that he brazenly disregarded a federal judge's order and that one of his arguments "borders on the ridiculous." Lawyers for the Securities and Exchange Commission, in a...

Wells Fargo agrees to pay $800K in Schilling video game deal

Mar. 19, 2019 10:59 AM EDT

PROVIDENCE, R.I. (AP) — Wells Fargo Securities has agreed to pay an $800,000 civil penalty to settle a U.S. Securities and Exchange Commission lawsuit over Rhode Island's failed $75 million deal with former Boston Red Sox pitcher Curt Schilling's video game company. Wells Fargo and the SEC announced the...

Judge grants extension of settlement talks in soybean suit

Mar. 15, 2019 6:30 PM EDT

MEMPHIS, Tenn. (AP) — A federal judge has approved an extension of settlement talks in a lawsuit claiming a soybean seed company purposely sold faulty seeds to black farmers in Mississippi. U.S. District Judge John Fowlkes had set a Friday deadline for mediation talks in a lawsuit filed in Memphis,...

Pilgrim's Pride shareholders can pursue Moy Park deal suit

Mar. 15, 2019 5:00 PM EDT

DOVER, Del. (AP) — A Delaware judge has refused to dismiss a shareholder lawsuit over poultry company Pilgrim's Pride's $1.3 billion acquisition of U.K. poultry producer Moy Park, which was a wholly owned subsidiary of Pilgrim's Pride's parent company. Friday's ruling means Pilgrim's Pride stockholders can...

FAA's close ties to Boeing questioned after 2 deadly crashes

Mar. 15, 2019 3:25 PM EDT

For more than six decades, the Federal Aviation Administration has relied on employees of airplane manufacturers to do government-required safety inspections as planes are being designed or assembled. But critics say the system, dubbed the "designee program," is too cozy as company employees do work for an agency...

The Latest: Ruling against gun-maker draws mixed reaction

Mar. 14, 2019 10:01 PM EDT

HARTFORD, Conn. (AP) — The Latest on a Connecticut court reinstating part of a wrongful death lawsuit filed by victims of the Newtown school shooting against gun maker Remington (all times local): 4:10 p.m. Gun control advocates and gun rights supporters have conflicting opinions about a Connecticut...

Court rules gun maker can be sued over Newtown shooting

Mar. 14, 2019 4:55 PM EDT

HARTFORD, Conn. (AP) — Gun-maker Remington can be sued over how it marketed the rifle used to kill 20 children and six educators at Sandy Hook Elementary School in 2012, a divided Connecticut Supreme Court ruled Thursday. Gun control advocates touted the ruling as providing a possible roadmap for victims...

Huawei pleads not guilty in US court in Iran sanctions case

Mar. 14, 2019 1:47 PM EDT

NEW YORK (AP) — The Chinese electronics giant Huawei pleaded not guilty on Thursday to charges accusing it of plotting to violate Iran trade sanctions, a case that has complicated the China-U.S. trade dispute and cast a harsh light on the daughter of the company's founder. Lawyers for the No. 2 smartphone...

Executive gave tip that launched admissions bribery case

Mar. 14, 2019 12:45 PM EDT

BOSTON (AP) — The biggest school admissions scandal ever prosecuted began with a tip from an executive investigators were targeting in a securities fraud probe, a law enforcement official said Thursday. The executive told Boston authorities chasing down the market manipulation scheme that the women's...

Black workers at UPS hub say they were targets of racism

Mar. 14, 2019 12:25 PM EDT

TOLEDO, Ohio (AP) — UPS workers at a distribution hub in Ohio sued the company Wednesday, alleging discriminatory hiring decisions and a series of racist acts, including a noose and Confederate flags in the workplace. White employees in 2016 directed racist language at black workers, displayed a stuffed...