Dole Executives Fined $148 Million for Valuation Fraud

- August 28, 2015

Laster believed that the executives fraudulently created grim sales forecasts, as well as drove the stock price down by understating the cost savings of Dole’s 2012 sale of its Asian operations, as well as cancelling a planned stock buyback. These activities led to Murdock purchasing the remaining shares for $13.50 each in a $1.2 billion purchase. Laster ruled that the executives undervalued the shares by $2.74 apiece, ordering that they pay the difference, a total of $148.2 million to the investors, many of them pension funds, that filed the class-action lawsuit.

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NLRB Rules in Favor of Increased Bargaining power for Subcontractors, Temporary Workers

- August 28, 2015

IFA president Steve Caldeira released a statement following the ruling, saying “The Board’s tortured analysis will undoubtedly be met with skepticism and will be rejected by local franchise owners, legislators and, ultimately, the courts. IFA and its allies are asking Congress to intervene to halt these out-of-control, unelected Washington bureaucrats to preserve the established joint employer standard.”

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Will the .Law Domain Registry Succeed?

- August 27, 2015

Despite the enthusiasm for the .law registry amid its early rollout, many question whether or not the domains will help firms, and in some respects, can even be considered a mild form of extortion. Well-known firms that rarely acquire new business via the internet will likely be required to purchase the .law extension in order to keep others from buying it in a brand-protecting move.

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NHTSA to Investigate more Honda Airbag Woes

- August 24, 2015

Although no deaths have been reported from the defect, one of the 19 complaints involved a single-car, front-end collision with injuries. In that incident, a Belleview, Florida driver crashed into a concrete wall head-on at 50 MPH, with the front airbag failing to deploy.

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Will Class-Action Litigation of Ashley Madison Account Holders Succeed?

- August 21, 2015

The second data dump comes after Biderman questioned the credibility of the hacker’s claims, with the Impact Team taunting him with a message regarding Thursday’s disclosure, “Hey Noel, you can admit it’s real now.” As reality does indeed set in for both ALM and the millions of users whose personal lives may be altered forever by the leak, sorting out legal liability in the matter will be messy.

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Final Ex-Executives Plead Guilty over West Virginia Chemical Spill

- August 20, 2015

Charleston U.S. Attorney Booth Goodwin said that his agency was focused on pursuing prison time for the former executives as a stronger deterrent than financial penalties. Goodwin said, “Executives are used to writing checks. It sends a stronger message if they have to trade their three-piece suits for a prison jumpsuit.”

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Valeant Buys Sprout Pharmaceuticals, Maker of Just-Approved Female Libido Medication

- August 20, 2015

Valeant’s purchase of Sprout will include $500 million cash up front as well as $500 million when the deal is closed, which is expected to be in early 2016. In addition, Valeant has agreed to give Sprout a portion of future revenues if certain milestones are met, although neither party would discuss specifics. Sprout CEO Cindy Whitehead will join Valeant and lead the division responsible for Addyi.

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