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Court won't hear appeal over news release
Headline Legal News |
2013/12/16 11:26
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The Supreme Court won't hear an appeal from a CEO convicted because a news release misstated the results of a drug's effectiveness.
The high court on Monday declined to hear an appeal from Dr. W. Scott Harkonen, the chief executive of the biotechnology company InterMune Inc. from 1998 until 2003. He was convicted wire fraud in the marketing of the drug Actimmune, which was supposed to fight the fatal lung disease idiopathic pulmonary fibrosis.
The conviction centered on an August 2002 news release that misstated the results of a clinical trial using Actimmune. The release falsely said the test showed Actimmune helped IPF patients live longer.
Harkonen's lawyers say the results of the trial were accurate, and he is being punished for offering a scientific opinion about the results. |
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Court: Exec guilty over faulty French implants
Headline Legal News |
2013/12/12 14:02
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A disgraced French businessman was convicted of fraud and sentenced to four years in prison on Tuesday for filling tens of thousands of breast implants with industrial grade silicone. But he left the courthouse freely after lodging an appeal, and thousands of women will have to wait longer to discover if they will receive damages.
The ruling in the criminal case by a court in Marseille, which all the trappings of a class-action lawsuit, ordered up to 40 million euros ($55 million) in damages paid to a fraction of the 125,000 women worldwide who received the implants.
However, that sum for Jean-Claude Mas' company, Poly Implant Prothese, was largely theoretical because it is bankrupt, and because the appeal froze any efforts to find alternate sources. It will be months, if not years, before any women see money many say they need to remove the faulty, leak-prone implants.
In addition to his prison sentence, the French businessman was fined 75,000 euros ($103,000).
His lawyer promised to appeal immediately, and Mas left the courthouse without comment. The appeal freezes the jail term, fine and any damages.
Four managers in the now-defunct Poly Implant Prothese received lesser sentences.
The decision established a complex system of damages for about two-thirds of the 7,100 women who joined the case, with a potential total of 40 million euros ($55 million) to be paid by those convicted. But, like Mas' fine, it was not clear where that money would come from. |
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Dutch Supreme Court: Fortis was mismanaged
Headline Legal News |
2013/12/09 14:35
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The Netherlands' Supreme Court has upheld rulings that the now-defunct Belgian bank Fortis NV was mismanaged from September 2007 to September 2008, and its then-management board can be held accountable.
Friday's ruling opens the door for investor claims against former CEO Jean-Paul Votron, among others, though not former supervisory Chairman Count Maurice Lippens, whom lower courts found was too far removed from decision making to be held liable.
Fortis, Royal Bank of Scotland and Spain's Santander bought Dutch bank ABN Amro in a hostile takeover in 2007, nominally the largest in banking history.
Fortis agreed to buy ABN's Dutch operations for 24 billion euros in its part of the deal but was unable to finance the buy — which represented around half of its own total size — and eventually spiraled toward bankruptcy. The Dutch state ultimately nationalized all Fortis-ABN operations in the Netherlands in 2008 to avoid a meltdown of the country's financial system. The rescue has cost taxpayers at least 32 billion euros. |
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Supreme Court won't stop NY's Internet taxation
Headline Legal News |
2013/12/05 14:44
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On perhaps the busiest online shopping day of the year, the Supreme Court refused to wade into a dispute over state sales taxes for purchases on websites like Amazon.com, an outcome likely to prompt more states to attempt to collect taxes on Internet sales.
Monday's court action means "it might be the last Cyber Monday without sales tax," said Joseph Henchman of the Washington -based Tax Foundation.
It's all part of a furious battle -- also including legislation in Congress -- among Internet sellers, millions of buyers, aggrieved brick-and-mortar stores and states hungry for billions of dollars in extra tax revenue.
The high court without comment turned away appeals from Amazon.com LLC and Overstock.com Inc. in their fight against a New York court decision forcing them to remit sales tax the same way in-state businesses do. This could hurt online shopping in that state, since one of the attractions of Internet purchasing is the lack of a state sales tax, which makes some items a little cheaper than they would be inside a store on the corner.
And the effect could be felt far beyond New York if it encourages other states to act. The National Council of State Legislatures estimates that states lost an estimated $23.3 billion in 2012 as a result of being unable to collect sales tax on online and catalog purchases.
The court's refusal "allows states that have passed laws like New York's to continue doing what they've been doing," said Neal Osten, director of the Council's Washington office.
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N. Ind. court helps veterans get back on track
Headline Legal News |
2013/11/11 14:23
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A northern Indiana judge is helping troubled veterans get their lives back in order.
Porter Superior Judge Julia Jent started the Veterans Treatment Court slightly more than two years ago. Case managers, mental health professionals, prosecutors and public defenders work to help veterans who have had a run-in with the law try to solve some of the problems they are facing.
On Friday, six military veterans who graduated from the program. Sixty-three-year-old Paul Hake of Porter says it completely change his life. Hake is a Marine veteran who served in Vietnam. He says he had a problem with alcohol, but now he has his life back.
The class was the third graduating class since the program began.
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