Federal regulators on Monday charged the co-founder of a New York hedge fund and three other individuals with insider trading, the latest action in what the government has called the biggest insider-trading case in U.S. history.

The Securities and Exchange Commission announced it filed a civil lawsuit against hedge fund Trivium Capital Management, its co-founder Robert Feinblatt and analyst Jeffrey Yokuty. The SEC also filed charges against Sunil Bhalla, a former senior executive of tech company Polycom, and Shammara Hussain, a former employee at a consulting firm that did work for Google. The agency said Bhalla and Hussain provided confidential information that enabled Feinblatt and Yokuty to make about $15 million from trading on the information.

So far the SEC has filed civil charges against 27 people and hedge funds in a wide-ranging probe of the Galleon group of hedge funds and its founder. The government says Galleon funds made about $69 million in illegal profits. Raj Rajaratnam, the one-time billionaire founder of the Galleon funds, has pleaded not guilty. Federal authorities have arrested 23 people on criminal charges in the case; 14 have pleaded guilty.

The SEC alleged in its suit that Feinblatt and Yokuty traded using confidential information they received from Roomy Khan, a Florida investor who pleaded guilty in 2009 to conspiracy and securities fraud in the Galleon case. Khan has been cooperating in the government's investigation.

Davis left politics behind after leaving his position as the congressman for the 7^th Congressional District for a bid for the Alabama governor's office. He was defeated in the Democratic primary by Ron Sparks.

After the defeat, Davis told the media he was done with politics and would return to practicing law.

Davis will join SNR Denton's White Collar and Government Investigation teams.

The California Supreme Court's refusal affirms a Bay Area Air Quality Management District limit on burning wood, fire logs or wood pellets on nights when air quality is expected to exceed public health standards.

The appeal was brought by Duraflame Inc., which argued that its logs burn cleaner than other fuel types and should be exempt from the ban.

Duraflame appealed to California's high court after losses in both Alameda County Superior Court and a state appeals court.

A divided Michigan Supreme Court has issued an opinion that would continue to prevent an energy company from discharging treated wastewater into the headwaters of the Au Sable River in Otsego County.

The 4-3 decision would deny the water discharge plan for Merit Energy Co. because the court's majority ruled it is "manifestly unreasonable."

The company already had abandoned the discharge plan and considered the case moot. A previous Supreme Court ruling would have prevented the discharge.

The new ruling, however, could set precedents for future environmental cases in which the state has issued permits.

Conservative justices who currently form the court's minority blast the more liberal majority for using a moot case to "reach desired policy results."

Gov. Mitch Daniels has appointed new judges in two central Indiana counties.

The governor's office says Daniels appointed J. Jeffrey Edens as judge of the Boone Circuit Court. Edens succeeds Justice Steven David, who was appointed to the Indiana Supreme Court in September. Edens has been serving as judge pro tempore since David's appointment.

Edens is a former Boone County chief deputy prosecutor and past president of the Boone County Chamber of Commerce.

Daniels also appointed David Riggins as a Shelby County Superior Court judge. Riggins succeeds Judge Russell Sanders, who announced his retirement in August.