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26 October 2010: GlaxoSmithKlein to pay $750 million for sale of
bad products: the British drug company agreed to pay this to
settle criminal and civil complaints that they had sold contaminated
baby ointment and an ineffective antidepressant. For more information,
click here.
11 October 2010: Chief Executive of Hungarian company that
caused the toxic sludge spill arrested
Mr Zoltan Bakonyi, the chief executive of the industrial plant
at the centre of the toxic sludge spill in Hungary has been taken in for
questioning by the police. So far, eight people have lost their lives
due to the toxic spill. The Hungarian PM Viktor Orban said the company
would be temporarily nationalised and that those responsible for the
disaster should bear the financial consequences. For further
information,
click here.
19 March 2010: Recruiting future stock market regulators - Calls
for reform
In the aftermath of the Lehman Brothers report, a debate has
been initiated about how to better recruit and train regulators who will
be responsible for enforcing laws against stock market violations. The
New York managing editor at a financial services information firm thinks
that financial regulatory agencies should look to the example of the
Foreign Service. To read the full New York Times article
click here.
March 2010: Examiner Report on the bankruptcy of Lehman
Brothers published
Two years after the bankruptcy of Lehman Brothers Holdings
Inc., we learn through a 2,200-page report from Lehman’s bankruptcy
examiner, Anton R. Valukas, that the firm was taking a creative approach
with its valuations and accounting. The full report can be accessed
here. For a link to the news article on NY Times,
click here.
2 March 2010: new campaign to hold Samsung accountable for
occupational cancer
An international coalition held a press conference at Samsung
Headquarters in Seoul, Korea to announce the formation of a campaign to
demand that Samsung accept responsibility for the many deaths of its
young workers from occupational cancer. The Coalition – called the
“Samsung Accountability Campaign” – includes Supporters for the Health
and Rights of People in the Semiconductor industry (SHARPs), Korean
Metal Workers' Union (KMWU), Asian Network for the Rights Of
Occupational Accident Victims (ANROAV) and International Campaign for
Responsible Technology (ICRT).
The Coalition also announced an international petition campaign calling
on Samsung to accept responsibility for the health of its workers,
especially now that it has become a leading global brand that is
promoting itself as a “green company” around the world. The petition is
available at
http://www.anroav.org/content/view/98/1/.
5 February 2010: BAE has pleaded guilty to the charge of having
misled the Congress
The BAE admitted having 'knowingly and wilfully' misled the US
Government by failing to honour a pledge that it would be rigorous in
ensuring that no payments would be made to officials of governments when
trying to win business from those governments.
Click here for a link to the news article.
2 February 2010: Concorde crash trial to open in France
Continental Airlines and 5 individuals will go on trial over the July
2000 Concorde crash.
Details about the crash are available on the BBC News website.
Click here for a link to the news article.
12 January 2010: UN cuts back on investigating
fraud
Over the past year, not a single significant fraud or corruption case
has been completed, compared with 150 cases a year in the past |
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11 January 2010: Claims of prosecutorial misconduct in two cases
of white-collar crime
A federal judge dismissed charges against three Broadcom executives
accused of options backdating, because of changes in witness testimony.
Another similar claim was raised in the prosecution of a KB Homes
executive.
8 January 2010: apartheid case against companies to resume in
the US Court of Appeals
The Khulumani support group are optimistic ahead of the trial.
3 December 2009: Shell to go on trial for oil spills in Nigeria
Legal action taken by four Nigerian victims of Shell oil leaks, in
conjunction with Milieudefensie, the Dutch division of Friends of the
Earth, started at the court in The Hague.
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