In February of 2010, Ormat concluded that the company’s 2008 financial statements required restatement and that current statements were unreliable. This occurred because capitalized costs for exploration and development of select properties that the company did not plan on developing were suspected to be improperly calculated into financial equations. Once…
An ERISA class action lawsuit was filed on behalf of nearly 90,000 Comcast employee stock plan participants because of an alleged breach in fiduciary duty by the company’s failure to make “reasonable” investments. Total plan assets were over $2 billion in 2006 and roughly $293 million consisted of Comcast stock.…
Toyota has agreed to pay $16 million in penalties after the government contended that Toyota knowingly refrained from disclosing the sticky gas pedal defect to the public and did not take action to protect the public from harm. Toyota’s agreement does not mean that the company admits to wrongdoing. However,…
Guidant, LLC, maker of a cardiac defibrillator, pled guilty to criminal violations of the Food and Dug Administration Cosmetic Act which requires that medical device companies disclose risks of serious injury and death that are associated with their products. The Guidant defibrillator was used in cardiac surgery to produce a…
Stuffed animals, rain ponchos and play jewelry are some of the Toy products that Daiso California LLC had been selling before a recall. The risks associated with their products included strangulation from the rain ponchos, lead poisoning from the jewelry, and choking from the stuff animals. Since Daiso California LLC…
Paternity rights in Indiana have been leveraged for fathers effective July 1, 2010, based on a new Indiana law ( Indiana Code 16-37-2-2.1). Currently, when a child is born out-of -wedlock, Indiana law allows for the establishment of paternity by the filing of a Petition to Establish Paternity or the…
Reglan, manufactured by Baxter Healthcare Corporation, has long been used in over 2 million children and adults for the treatment of gastrointestinal conditions such as diabetic gastroparesis disease and gastroesophageal reflux disease. The ill effects of Reglan use has not become fully apparent until recently. The FDA has announced that…
In November of 2009, Yaz and a similar product Ocella were recalled following reports of serious injury in users as young as thirteen years old. The problems associated with Yaz and Ocella involve the dosage of drospirenone which is known for creating health problems in users that live in European…
Car accidents can be reduced if we were heed one of the earliest lessons offered in driver’s training or during behind-the-wheel instruction- be a defensive driver. Anticipate what others might do on the road. Be aware of your surroundings. Listen. Be cautious. Be ready to take evasive action if a…
Car accidents happen. In fact, on average, it is estimated that an American citizen is in an auto accident six times during his or her lifetime. There were 6.4 million automobile accidents in the U.S. during 2005, the latest statistic available. However, the National Highway Transportation Safety Board’s early estimate…