Yesterday, I blogged that messages to each of David Maris' lawyers seeking comment on Biovail "dropping" or "settling" its case against the former Bank of America Securities analyst had gone without a response. Well, this morning I got this email from one of his attorneys tossing the ball back in Biovail's court:
The New York Post broke the news today that Biovail Corporation, Canada's biggest biotech, is dropping its lawsuit against a hedge fund, a research outlet, Bank of America Securities and its former specialty pharmaceuticals analyst David Maris. "60 Minutes" did a piece on the lawsuits last year. Shortly after being sued, Maris left B of A. He and the company never disclosed..
Narin Leininger knows about the risks of talking on a cell phone or sending text messages while driving. The 16-year-old high school junior says he'd only use his phone behind the wheel in an emergency -- a flat tire, traffic jam or crash.
Asia-Pacific leaders said on Sunday they saw "real progress" in world trade talks now underway in Geneva and pledged flexibility and the political will to forge a deal by the end of 2007.
The U.S. Congress is looking into Mattel's procedures for alerting federal regulators about hazardous toys, The Wall Street Journal reported in its online edition Friday.
The independence of the credit-rating agencies came under fire in the aftermath of recent mortgage-market turmoil as regulators plan to investigate how the companies are paid, the Wall Street Journal reported Friday.
A man carrying a fake gun and wearing dark camouflage paint on his face was being sought Thursday for attempting to break into billionaire Warren Buffett's home in Omaha, Nebraska, police said.
CNBC has learned that Maurice "Hank" Greenberg has received a subpoena from the SEC and will be giving his first deposition as part of the SEC’s continuing investigation into what role, if any, he played in alleged accounting improprieties at American International Group.
Merck said Thursday the New Jersey Supreme Court has reversed a lower court ruling that had granted nationwide class-action status to insurers seeking reimbursement for past spending on Vioxx, the drugmaker's withdrawn arthritis treatment.
A U.S. regulator said on Wednesday it has fined AXA Advisors $1.2 million for steering customers into brokerage accounts that triggered needless fees, once causing a customer's assets in an account to fall to zero.
The Securities and Exchange Commission said Wednesday that Saks Inc. has agreed to settle a lawsuit that Saks Fifth Avenue understated sales to some vendors and didn't record markdowns properly, inflating its earnings.
Germany has arrested three men it suspects of belonging to an Islamist terrorist group and planning attacks on Frankfurt international airport and a major U.S. military base, German officials said on Wednesday.
About 146,000 people using a U.S. government jobs Web site had their personal information stolen by hackers who broke into computers at Monster Worldwide, a government spokesman said Thursday.
White House sources confirm that U.S. Solicitor General Paul Clement will serve as acting Attorney General once Alberto Gonazles leaves the Justice Department in mid-September. And to judge from initial soundings across Washington, no one will be surprised if Clement eventually becomes President Bush's choice to fill the job for the remainder of his term.
British Airways pleaded guilty in U.S. court Thursday in a transatlantic price fixing conspiracy and was fined $300 million.
A state judge in Michigan has sided with Wal-Mart Stores and dismissed a lawsuit by former marketing executive Julie Roehm over her firing, saying the case should be filed in Arkansas.
One question about market turbulence that I'll be watching is its effect on the 2008 presidential race. It's not clear the disruptions will prove long lasting, much less lead to an economic recession. If it proves a short-term blip, the effects will be negligible.
Nokia has asked authorities to bar imports into the United States of some Qualcomm chips and the phones that use them, saying they infringe five Nokia patents.
Everyone gripes about the fact that there's no privacy online and Web surfers' personal information is exploited. But sometimes our actions online should be transparent -- there needs to be some accountability in this world of Wikis, where users are counted on to police inaccuracies and update news.
BioMedTracker, which monitors drug development for investors, ran some numbers for me. As of August 13th, how does the number of FDA-approved drugs and "approvable" drugs compare to the same period a year ago? According to the company, drug approvals are down 16% and approvable letters are up 55%. An approvable letter is what the FDA issues when it believes it might someday okay a drug, but only if a company provides additional -- often publicly unspecified -- data. So, for investors, "approvable" is a euphemism for delay.