Money Matters - Simplified


Apple, Samsung agree to judicial tete-a-tete

Hopefully, the escalating patent war between Apple and Samsung may be settled with “sit downs” rather than legal spats!

Rudy Ruettiger pays $383K to settle SEC fraud suit

Daniel 'Rudy' Ruettiger, best remembered as the underdog football player at University of Notre Dame, was charged Friday by the Securities and Exchange Commission (SEC) for a stock fraud scheme.

BOA to pay $8.5 billion as mortgage claims

The announcement of the $8.5 billion settlement by the Bank of America is not good news for the home owners particularly those who are at a risk of facing a foreclosure for the deal includes a clause that the Bank will deploy extra ‘subservicers’ to hasten the foreclosure process.

Man rejects fruit jar suit settlement

Southfield, Mich. -- A Michigan man rejected a $150,000 settlement offer for his suit alleging he was injured by a jar of fruit that exploded while he was opening it.

Darryl Alexander of Southfield, who filed a lawsuit in June 2009 against Del Monte Corp. of Delaware and Kroger Co. of Ohio, rejected the $150,000 settlement offer from the defendants, The Detroit News reported Thursday.

Alexander's suit alleges he was trying to open a jar of Del Monte Orchard Select Premium Mixed Fruit in 2008 and used a screwdriver because the lid would not budge. He said the lid forcefully popped off the jar and struck him in the eye, rendering him unconscious.

US Fidelis owners sanctioned in 11 states

Wentzville, Mo. -- Prosecutors from 11 states said they had reached a settlement barring owners of Missouri's US Fidelis from selling auto-service contracts in their states.

The agreement also bars Darain and Cory Atkinson from a variety of marketing activities including telemarketing, and forbids them from conducting a business that focuses on persons older than 64 years old, the St. Louis Post-Dispatch reported Tuesday.

The company that sold extended service contracts for automobiles was charged with a variety of deceptive marketing practices and misleading advertising, including advising consumers the factory warranties on their cars were soon to expire.

Lowe's revamps drywall settlement

Atlanta, Fla. -- Retailer Lowe's Cos. Inc. is offering consumers who bought inferior Chinese drywall $100,000 if home damage or medical bills exceed $4,500, court papers say.

The offer filed in a state court in Georgia, adds to the company's previous settlement offers, but does not change earlier offers that include a $50 gift card for customers who have no proof of purchase but claim they bought drywall that allegedly has toxic qualities from the store, the Palm Beach, Fla., Post reported Monday.

Also unchanged is an offer of a $250 gift card for consumers who have proof of purchase, but lack evidence of damage incurred by the drywall.

HP settles lawsuit against Mark Hurd

Hewlett-Packard has announced the settlement of the law suit that centered on Oracle’s appointing their former chief executive Mark V. Hurd, as their president.

Taylor Lautner donates RV lawsuit money to charity

Taylor Lautner has won his lawsuit against an RV company, according to multiple tabloid reports. The ‘Twilight’ hunk has won $40,000 in a settlement with the company, which he will donate to children's charity, the reports say.

$18M deal upheld in Internet Ponzi scam

Carson City, Nev. -- A federal appeals court in California has upheld an $18 million settlement for hundreds of consumers bilked in an Internet kiosk scam.

Network Services Deport, its owners Charles and Elizabeth Castro and company officer Gregory High, in early 2004 sold stand-alone Internet kiosks to more than 800 investors for between $4,400 and $7,000, promising revenue of a much as $1,000 daily, The Las Vegas Sun said.

The California-based business and its partner Ed Bevilacqua never installed any of the kiosks in public places such as airports or hotel lobbies, and agreed to an $18 million settlement with the Federal Trade Commission.

The appellate court upheld the summary judgment of Las Vegas Senior District Judge Lloyd George.

Bribery case settled for $240 million

Washington -- The U.S. Department of Justice said Wednesday it had accepted a $240 million settlement on a multinational, and multimillion-dollar bribery case.

DOJ said Snamprogetti Netherlands BV, a Dutch subsidiary of Snamprogetti, an Italian engineering, procurement and construction firm, engaged in a series of bribes as part of a four-company joint venture from 1995 to 2004 to secure construction contracts in Nigeria.

The bribes came out of payments of $132 million paid to a corporation in Gibraltar controlled by Jeffrey Tesler and $50 million paid to a Japanese trading company that were each agents to arrange and pay bribes to Nigerian officials, the Justice Department said.