In U.S. Federal Court in Atlanta on Wednesday, Judge Timothy Batten ruled to grant class-action certification to a six-year long collusion lawsuit against Delta and AirTran airlines. The lawsuit was filed in 2009 by over a dozen Delta and AirTran customers, accusing the companies of using a series of earnings conference calls, as well as
Leading medical device manufacturer Medtronic has issued its second recall in as many weeks involving recently developed technology. Coming off of the European recall of its MiniMed 640 insulin pump last week, which is scheduled for a Pre-Market Approval (PMA) review in the U.S. later this year, the company has recalled nearly 7,000 EnVeo R
According to a Federal Railroad Administration report released to the House and Senate Appropriations Committee on Friday, only three freight and commuter railroad companies have submitted safety plans for the implementation of new technology, required to be finished by a December 31st deadline. The technology, Positive Train Control (PTC), depends on GPS technology to automatically
In the wake of a buying and selling frenzy, Irish drugmaker Allergan has been subpoenaed by the Department of Justice (DOJ) over antitrust concerns regarding the pricing of its generic drugs. Last week, the company announced a $40.5 billion selloff of its generics unit to the global generic market leader, Israeli-based Teva Pharmaceuticals. That deal
Dodd-Frank strikes again, as the Security and Exchange Commission (SEC) adopted a rule on Wednesday to require most public companies to report the comparison of pay between employees and Chief Executive Officers. The commission voted 3-2, with the two Republican commissioners objecting the mandate to include the comparison in a company’s annual audited financial statement
While it might not affect 11 million customers like Fiat-Chrysler’s 23 separate auto recalls, the consequences for those that own some John Deere tractors could be just as hazardous. The company has announced a recall on nearly 2,100 riding lawn tractors, including 370 in Canada, over a potential brake lever arm malfunction. According to a
Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to
The Security and Exchange Commission (SEC) is treading on thin legal ground, according to Manhattan District Judge Richard Berman, due to the agency’s use of an in-house judicial system. On Monday, Berman refused to dismiss a lawsuit filed by embattled former Standard and Poor’s (S&P) supervisor, Barbara Duka, who was accused of securities fraud by
August is beginning to look like a continuation of July for embattled automaker Fiat-Chrysler, as the company announced on Saturday that it is recalling 322,000 Dodge Chargers from model years 2011-2014. The recall comes after the company received 25 complaints of unintended side-curtain airbag deployments when the doors had been kicked or slammed forcefully. According
Kraft-Heinz announced on Friday that it was recalling about 36,000 cases of individually-wrapped Kraft Singles cheese packs due to a potential choking hazard caused by the packaging. The cases were shipped to stores throughout the U.S., Puerto Rico, and Grand Cayman. The recall applies to 3 and 4 lb. Kraft Singles American and White American