An MCI Inc. shareholder has sued to block the company’s $6.8 billion takeover by Verizon Communications Inc., saying the price was too low, according to a published report Sunday. The lawsuit, which was filed on Friday, said MCI and its board of directors breached their fiduciary duties “by depriving MCI’s public stockholders of maximum value […]

A former executive at Boeing, Michael M. Sears, once in line to become chief executive, was sentenced on Friday to four months in prison for his role in illegally recruiting a former top Air Force official to work for the company. Mr. Sears, 57, stood before the court and said he was ashamed of his

A group of eight former lawyers with Testa, Hurwitz & Thibeault on Thursday filed to take their former employer into involuntary Chapter 11 bankruptcy, an unusual move that could complicate the firm’s plans to liquidate. The Chapter 11 petition, filed Feb. 17 in the U.S. Bankruptcy Court for the Eastern District of Massachusetts, seeks to

Dickie Scruggs, a Mississippi trial lawyer who led the charge against Big Tobacco in the 1990s, helping 46 states win a $246 billion settlement, once described the features of a “magic jurisdiction” in America’s tort system. Speaking at an asbestos conference in 2002, he said that such a place would have judges elected with “verdict

Clifford Chance’s embattled New York office has haemorrhaged six partners, with its entire insolvency and restructuring group quitting en masse for Kaye Scholer. High profile head of insolvency and restructuring Margot Schonholtz is leading the team, taking with her CC’s entire New York restructuring team, consisting of partners Mark Liscio, Jill Kurtzman, Madlyn Primoff and

Scott Sullivan the former WorldCom finance chief, admitted lying to the board and an internal auditor during the $11 billion accounting fraud. On the first day of his cross-examination yesterday Mr Sullivan conceded that he had lied more than a dozen times about the financial health of the company, whose profits were deteriorating between 2000

The State of California has reached a tentative $600 million settlement in a lawsuit against the French bank Crédit Lyonnais related to the sale of Executive Life Insurance in 1991. A final settlement hinges on whether Sierra National Insurance Holdings, which joined in a lawsuit separate from the state’s case in federal court, will agree

Vindicated in the longest court battle in British legal history, David Morris and Helen Steel celebrated in London yesterday – not with the customary champagne outside the High Court, but with a demonstration outside McDonald’s. For 15 years the two activists from north London fought a case against the world’s biggest burger chain which seemed

For almost a century, members of the Gambino crime family maintained a violent grip over New York as ruthless practitioners of murder, drug pushing, racketeering and extortion. Now six men, at least two of whom have been linked to what was once one of America’s premier Mafioso gangs, have been told they face lengthy prison

For attorneys caught up in the excitement of a pending law firm merger, expectations of more offices, more lawyers and more money can be heady. But practitioners who have gone through the courtship warn that some very tough work — more than most firms expect — lies ahead in uprooting potential client conflicts created by