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American International Group Inc., the world’s largest insurer, probably will announce a $1.6 billion settlement of U.S. state and federal regulatory investigations later today, people familiar with the matter said.

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American International Group Inc., the world’s largest insurer, probably will announce a $1.6 billion settlement of U.S. state and federal regulatory investigations later today, people familiar with the matter said. The agreement would resolve New York Attorney General Eliot Spitzer’s allegations that AIG used sham reinsurance contracts to hide losses and understate liabilities, two people

American International Group Inc., the world’s largest insurer, probably will announce a $1.6 billion settlement of U.S. state and federal regulatory investigations later today, people familiar with the matter said. Read More »

Nortel Networks Corp. said on Wednesday it has agreed in principle to pay $2.47 billion to settle two class-action lawsuits stemming from an accounting scandal that has rocked the telecommunications equipment supplier.

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Nortel Networks Corp. said on Wednesday it has agreed in principle to pay $2.47 billion to settle two class-action lawsuits stemming from an accounting scandal that has rocked the telecommunications equipment supplier. Nortel said it wanted a settlement so that it could focus on rebuilding its business. It was hit with the lawsuits from shareholders

Nortel Networks Corp. said on Wednesday it has agreed in principle to pay $2.47 billion to settle two class-action lawsuits stemming from an accounting scandal that has rocked the telecommunications equipment supplier. Read More »

British lawyers are preparing for the first law firm IPO. An LLP is one thing – an AIM listing in London with all that horrible full disclosure is quite . . well, unBritish.

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Stock

The news that an investment banker is talking to some of the largest firms about an AIM listing brings what is surely an inevitability one step closer. Once the white paper proposals on law firm ownership are passed, quite possibly later this year, the barriers to firms floating will have been removed. And the kudos

British lawyers are preparing for the first law firm IPO. An LLP is one thing – an AIM listing in London with all that horrible full disclosure is quite . . well, unBritish. Read More »

What a cast: Gary Shandling, Sylvester Stallone, Keith Carradine and others. And headlining Hollywood PI Anthony Pellicano, who is accused of monitoring conversations of celebrities who had initiated court cases, attempting to find incriminating information by searching law enforcement databases, and using the information for threats, blackmail and in some cases to secure “tactical advantage in litigation.”

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Hollywood

A private investigator, once hired by top Hollywood stars, has been charged with wiretapping and conspiracy for allegedly bugging the phones of Sylvester Stallone, Keith Carradine, and other high profile personalities. Anthony Pellicano is accused of monitoring conversations of celebrities who had initiated court cases, attempting to find incriminating information by searching law enforcement databases,

What a cast: Gary Shandling, Sylvester Stallone, Keith Carradine and others. And headlining Hollywood PI Anthony Pellicano, who is accused of monitoring conversations of celebrities who had initiated court cases, attempting to find incriminating information by searching law enforcement databases, and using the information for threats, blackmail and in some cases to secure “tactical advantage in litigation.” Read More »

Phew! It’s a big claim, but then American International Group Inc. is a big company facing some big claims for bid-rigging. It’s also the first insurer to settle an inquiry into bid-rigging when it pays about $1.6 billion to resolve state and federal probes of accounting and sales practices, said a person familiar with the negotiations.

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American International Group Inc. will be the first insurer to settle an inquiry into bid-rigging when it pays about $1.6 billion to resolve state and federal probes of accounting and sales practices, said a person familiar with the negotiations. AIG, the world’s largest insurer, will compensate victims of price fixing as part of an accord

Phew! It’s a big claim, but then American International Group Inc. is a big company facing some big claims for bid-rigging. It’s also the first insurer to settle an inquiry into bid-rigging when it pays about $1.6 billion to resolve state and federal probes of accounting and sales practices, said a person familiar with the negotiations. Read More »

The Republican who chairs the Senate Judiciary Committee said today that he believed the Bush administration had violated the law with its warrantless surveillance program and that its legal justifications for the program were “strained and unrealistic.”

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The Republican who chairs the Senate Judiciary Committee said today that he believed the Bush administration had violated the law with its warrantless surveillance program and that its legal justifications for the program were “strained and unrealistic.” The program “is in flat violation of the Foreign Intelligence Surveillance Act,” said the chairman, Senator Arlen Specter

The Republican who chairs the Senate Judiciary Committee said today that he believed the Bush administration had violated the law with its warrantless surveillance program and that its legal justifications for the program were “strained and unrealistic.” Read More »

Blame it on the “vultures.” That was part of the defense outlined by attorneys for Ken Lay and Jeff Skilling during opening statements of their trial Tuesday.

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Enron

Blame it on the “vultures.” That was part of the defense outlined by attorneys for Ken Lay and Jeff Skilling during opening statements of their trial Tuesday.The vultures in this case are short sellers. To hear defense attorney Mike Ramsey tell it, short sellers destroyed Enron for a quick profit. The short sellers themselves, of

Blame it on the “vultures.” That was part of the defense outlined by attorneys for Ken Lay and Jeff Skilling during opening statements of their trial Tuesday. Read More »

The families of victims killed or injured in a 2002 scaffolding collapse at the John Hancock Center have reached a $75 million settlement with the skyscraper’s owner and other companies involved.

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Almost four years after a 10,000-pound scaffolding tumbled from the John Hancock Center — crushing cars and people below — the companies being sued for negligence have agreed to pay out almost $77 million. Nearly all of that — $75 million — will go to the families of four people who were killed and to

The families of victims killed or injured in a 2002 scaffolding collapse at the John Hancock Center have reached a $75 million settlement with the skyscraper’s owner and other companies involved. Read More »

The shambolic show trial of Saddam Hussein was adjourned on Thursday until Feb. 13 after a session in which the judge presided with none of the defendants present.

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The trial of Saddam Hussein was adjourned on Thursday until Feb. 13 after a session in which the judge presided with none of the defendants present. Two prosecution witnesses were allowed to testify. Saddam and the four other defendants refused to enter the courtroom for the second day in a row Thursday. The trial judge,

The shambolic show trial of Saddam Hussein was adjourned on Thursday until Feb. 13 after a session in which the judge presided with none of the defendants present. Read More »

The US government used their first witness on Wednesday to make the case that Ken Lay and Jeff Skilling, Enron’s former chief executives, were intimately involved in the running of the business and fully aware of its manipulation of earnings.

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The US government used their first witness on Wednesday to make the case that Ken Lay and Jeff Skilling, Enron’s former chief executives, were intimately involved in the running of the business and fully aware of its manipulation of earnings. Mark Koenig, former head of investor relations at Enron, told jurors how the energy trading

The US government used their first witness on Wednesday to make the case that Ken Lay and Jeff Skilling, Enron’s former chief executives, were intimately involved in the running of the business and fully aware of its manipulation of earnings. Read More »

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