WASHINGTON, May 31- The U.S. Supreme Court on Tuesday rejected Cubist Pharmaceuticals Inc's bid to revive four patents for its antibiotic drug Cubicin, paving the way for rival Hospira Inc to introduce a generic version as soon as this year. The high court left in place a November ruling by the U.S. Court of Appeals for the Federal Circuit upholding a lower court... » Read More
Though Sonia Sotomayor is widely expected to win confirmation to the US Supreme Court, the business community is still wondering just what kind of justice she'll be
An Indiana money manager is set to plead guilty to charges of crashing an airplane near a Panhandle neighborhood in a botched attempt to fake his own death.
The Supreme Court said Monday that it will rule on the constitutionality of the anti-fraud law that grew out of accounting scandals at Enron and other companies.
Former Enron CEO Jeffrey Skilling is appealing his 2006 conviction to the Supreme Court. In a 50-page petition filed Monday afternoon, Skilling's attorneys argue the conviction should be overturned because he did not put his own interest above Enron's as the government claimed, and because the Houston jury that convicted him was prejudiced by "pervasive media coverage."
U.S. securities regulators will consider about 4 proposals to restrict short selling, a type of investing blamed for accelerating the severe downturn in financial services stocks.
A new report from SEC Inspector General David Kotz says the agency is not doing enough to address complaints about abusive, "naked" short selling.
Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.
Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.
Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
A French court ordered eBay to pay 38.6 million euros ($61 million) to luxury goods group LVMH for allowing the sale of fake merchandise, in a ruling immediately appealed by the online auction website.
The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.
A former Credit Suisse investment banker convicted of leaking inside information about pending mergers was sentenced to 10 years in prison by a federal judge Friday.
John F. Marshall spent decades teaching at business schools and watching his students parlay his lessons into fortunes on Wall Street. But when he and another professor reached for some of those riches themselves, events took a startling turn, the authorities say.
The White House said that President Bush would not veto a final bill from Congress that orders a halt to filling the Strategic Petroleum Reserve while oil prices are very high.
A fight has erupted in Congress over the question of whether drug makers and other companies should be allowed to keep patents they obtained by misrepresentation or cheating, The New York Times reports.
U.S. federal regulators will announce a settlement on Friday with former Fannie Mae executives over their alleged roles in a 2004 multibillion-dollar accounting scandal, a person familiar with the settlement said on Thursday.
A federal grand jury and the Securities and Exchange Commission have been investigating the anti-money laundering practices of Fidelity Investments, according to a report in the Boston Business Journal.
President Bush urged Congress on Friday to quickly pass an economic stimulus package void of extraneous spending, saying only quick action will kickstart the sputtering economy. "I strongly believe it would be a mistake to delay or derail this bill," Bush said.
Attorneys for the brothers of hedge fund manager Seth Tobias say his wife killed him because "Seth was worth substantially more to (her) dead than he was alive, and she knew that."