The Justice Department has joined a whistleblower lawsuit against Abbott Laboratories and its spinoff, Hospira. The companies allegedly conspired to inflate Medicare and Medicaid reimbursements on some drugs. It is alleged that Abbott Labs reported its drug prices to price […]

The New York based law firm of Milberg Weiss Bershad & Schulman was indicted in Los Angeles yesterday for twenty years of activities, including a conspiracy to give kickbacks to lead plaintiffs in securities class-action cases. It is alleged that […]

For months, the [tag]SEC[/tag] has been considering whether to exempt small companies from [tag]Section 404[/tag] of [tag]Sarbanes-Oxley[/tag]. Compliance with [tag]SOX[/tag] is expensive, and it was argued that smaller companies were overburdened. Instead of exempting the small companies, the SEC has […]

Texas Attorney General Greg Abbott has filed a lawsuit against [tag]BioPerformance[/tag] Inc. He has also obtained a temporary restraining order to stop the company from operating. BioPerformance is an illegal [tag]pyramid scheme[/tag] that markets fuel pills with false claims. The […]

[tag]Ward Churchill[/tag], professor at the University of Colorado committed [tag]academic misconduct[/tag], according to the report of an investigative committee. The [tag]investigation[/tag] centered around what the University referred to as [tag]research misconduct[/tag]. From the full text of the report on the […]

Bill Mortimore, the founder and former chief executive of [tag]Merge Technologies[/tag] Inc., has been named interim chief executive officer. This follows the resignation of CEO Richard Linden, who resigned after problems with the company’s financial statements were found and the […]

Daniel Petrocelli, the lead defense attorney for former Enron president Jeffrey Skilling, tried to convince the jury on Tuesday to acquit Skilling and Kenneth Lay of all charges stemming from the company’s failure and alleged accounting fraud. He claims that […]

Lucky me! My social security number, along with my name and address, have been compromised by the [tag]American Institute of Certified Public Accountants[/tag] ([tag]AICPA[/tag]). They say that a computer of theirs failed, and someone sent out the hard drive for […]

The mortgage industry lost over $1 billion dollars to mortgage fraud last year, with the dollar losses doubling between 2004 and 2005. Contributing to the fraud problem are deceptive sellers, overtaxed buyers, builders who need to unload inventory, dishonest loan […]

Kathryn Ruemmler, one of the federal prosecutors active in the trial of former Enron executives Kenneth Lay and Jeffrey Skilling, told the jury in closing arguments that the defendants lied “over and over and over again” to investors and employees. […]