Archive for December, 2011

Abercrombie & Fitch Sued in Ohio Over Gift Card Givaway

Filed December 27th, 2011 Julie

A class action lawsuit was filed against Abercrombie & Fitch just before Christmas by plaintiffs who claim the clothing retailer advertised a gift card promotion to Ohio customers in December 2009 as having no expiration date, but voided the cards on January 30, 2010. Customers were promised for every $100 they spent on merchandise at […]

Class-action names Fannie, Freddie as defendants for mortgage fraud case in California

Filed December 23rd, 2011 joshua

A class-action lawsuit has been filed on behalf of foreclosed homeowners who feel they were duped into accepting home loan deals from lenders like Freddie Mac, Fannie Mae, Countrywide Financial and IndyMac Bank. According to a report at CourthouseNews.com, a total of 11 homeowners are represented by a class-action lawsuit filed in Los Angeles recently. […]

Merck agrees to settle Massachusetts Medicaid fraud lawsuit for $24 million

Filed December 22nd, 2011 joshua

Pharmaceutical giant Merck & Co. has settled a lawsuit in Massachusetts in which the state alleged the company over-charged the government-run Medicaid program for generic albuterol drugs to the tune of $24 million. According to an AP report, Merck is settling a civil lawsuit filed against one of its subsidiaries which the company purchased several […]

FTC, Senators want investigate reach of Carrier IQ tracking software

Filed December 19th, 2011 joshua

Lawmakers and the Federal Trade Commission have launched an investigation into the business practices of one company which reportedly tracks data stored on “smart” cell phones. According to a report at InformationWeek.com, U.S. Senators and the FTC has questioned Carrier IQ over its data collection practices and what it does with the information it collects. […]

Consumers who purchased “scareware” will begin receiving refund checks

Filed December 14th, 2011 joshua

Consumers who purchased “scareware” while surfing the Web will soon receive refund checks from the Federal Trade Commission. According to PCWorld.com, about 320,000 will receive an average of $20 as a refund for purchasing one of several bogus “scareware” programs online. This software was pitched to Web surfers as a means of “cleaning” their infected […]

SEC Seeks Payent for Stanford Victims

Filed December 13th, 2011 Julie

On Monday, the Securities and Exchange Commission asked a federal judge to order the Securities Investor Protection Corp. to field claims from customers of R. Allen Stanford – the alleged mastermind of a multibillion-dollar investment scheme – who had lost an estimated $7.2 billion as of 2009. The SEC said the SIPC had not yet […]

Santander faces lawsuits over harassing auto loan collection practices

Filed December 12th, 2011 joshua

The massive Spanish banking firm Santander faces a class-action and at least 100 more lawsuits in the U.S. over its harassing means of collecting auto loans from customers it acquired from other banks. According to an MSNBC.com, “a flurry” of lawsuits have been filed against Banco Santander S.A., the largest lender in Europe from auto […]

Genetech to $20 Million to Settle Rituxan Whistleblower Lawsuit

Filed December 7th, 2011 Julie

Genetech Inc. has settled a whistleblower lawsuit concerning the off-label marketing of the cancer drug Rituxan. The company will pay out $10 million to settle the matter, netting $5.7 million for former senior manager of sales development John Underwood. Underwood filed suit in July 2003 in district court in the Eastern District of Pennsylvania. He […]

Insurers Paying Unclaimed Life Insurance Benefits in Response to New York Probes

Filed December 6th, 2011 Julie

A whopping $52.6 million in unclaimed life insurance benefits has been paid out to nearly 8,000 people as a result of New York authorities putting intense pressure on life insurance companies to match policies with a list of confirmed deaths. In addition to the 8,000 beneficiaries, claims processing has also been initiated for an additional […]

Fish Barcode of Life aimed at reducing food label fraud

Filed December 1st, 2011 joshua

The Fish Barcode of Life could prevent much of the food fraud being perpetrated every day. Mislabeled seafood products are often done so for an economic gain, labeling a fish as one species when it is, in fact, some less expensive variety. This fraud can also lead to serious illness or death. According to a […]