Articles by Jonathan Stempel

Smithfield Foods to Pay $75M in Pork Price-Fixing Settlement

Smithfield Foods Inc has agreed to pay $75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary …

Citigroup Wins Appeal Over Mistaken $500 Million Revlon Wire Transfer

Citigroup Inc. is entitled to recoup about $500 million of its own money that it accidentally wired Revlon Inc. lenders three years early, a U.S. appeals court said on Thursday. Reversing a lower court ruling, the 2nd U.S. Circuit Court …

Apple Succeeds in Getting $308M Patent Infringement Jury Verdict Tossed

Apple Inc. persuaded a federal judge to throw out a $308.5 million jury verdict it lost to a privately-held licensing firm for infringing a patent associated with digital rights management. In a Thursday night decision, U.S. District Judge Rodney Gilstrap …

Netflix Must Face Defamation Lawsuit Over Central Park Five Case

A federal judge on Monday ordered Netflix Inc. to face a defamation lawsuit by former Manhattan prosecutor Linda Fairstein over her portrayal as a racist and unethical villain in “When They See Us,” a 2019 miniseries about the Central Park …

Apple Must Face Shareholder Lawsuit Over CEO Cook’s China Sales Comments

Apple Inc has been ordered to face a proposed class-action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China, resulting in billions of dollars of investor losses. In a decision on Wednesday, …

Johnson & Johnson Fails To Overturn $2B Baby Powder Verdict, Plans Supreme Court Appeal

Missouri’s highest court on Tuesday refused to consider Johnson & Johnson’s appeal of a $2.12 billion damages award to women who blamed their ovarian cancer on asbestos in its baby powder and other talc products. The Missouri Supreme Court let …

Dunkin’ Donuts Parent Settles New York Cyberattack Lawsuit, is Fined

NEW YORK — The parent of Dunkin’ Donuts on Tuesday agreed to upgrade its security protocols and pay $650,000 in fines and costs to settle a lawsuit by New York’s attorney general claiming it ignored cyberattacks that compromised the online …

Warren Buffett’s Duracell Sues Energizer Over Battery Life Claims

NEW YORK — Duracell, the battery unit of Warren Buffett’s Berkshire Hathaway Inc, sued the maker of Energizer batteries on Tuesday, accusing it falsely advertising that its Energizer MAX batteries last up to 50% longer than other alkaline batteries. The …

Court Nixes Insurers’ $65 Million Payment Linked to Stanford Ponzi Scheme

A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …

Court Reverses, Goldman Off the Hook for Ex-VP’s Legal Fees

Goldman Sachs Group Inc. should not have been ordered to pay former programmer Sergey Aleynikov’s legal fees to defend against criminal charges that he stole secret code from the bank’s computers, a divided federal appeals court ruled on Wednesday. All …