Current Events Journal

Submitted By JeffersonL13
Words: 3595
Pages: 15

Current Events Journal

Jefferson, Luke

1) Article # 1
April 8th, 2014 5:52 P.M
U.S. Attorney Asks Judge for Three Year Sentence for Former KPMG Partner Scott London, former KPMG LLP partner, pleaded guilty for an insider-trading scheme violation that can put him in prison for up to three years. London, gave secret corporal information, regarding companies such as: Sketchers, and Herbalife, to a friend of his, Bryan Shaw, who then passed it on to other companies for money. This is extremely illegal, and violates the rules set in place at KPMG LLP. Federal sentencing guidelines say London should get between 46 and 57 months in prison.

2) Article # 2
April 8th, 2014 6:30 P.M
GM Slapped With Fine for Failing to Respond to Regulator’s Questions General Motors Company has known about one of its models having problems with the ignition-switch for nearly a decade, but hasn’t said anything about it until this year. There are nearly 2.6 million cars of this model around the world and just now are they starting to recall cars. Federal Auto Safety Regulators are fining GM $7,000 dollars a day until they completely answer a list of 107 questions, which GM has failed to do. Regarding this investigation, Internal investigators, have linked 13 deaths to this defect.

3) Article # 3
April 3rd, 2014 4:05 P.M
Court Overturns $920 Million Award to DuPont in Kevlar Case In 2011, Dupont, a chemical and agricultural company sued, Kolon, a South Korean, and won 920 million dollars regarding a Kevlar case. Kolon used former Dupont employees to help make their product better. On Thursday, April 3rd the U.S court of appeals vacated the judgment made in 2011 and ordered a new trial. The U.S court of appeals ordered a new trial because they said the last judge failed to include evidence that was presented by a Kolon defendant.

4) Article # 4
April 2nd, 2014 2:46 P.M
Subway Reaches Tentative Deal With Plaintiffs Over ‘Footlong’ Claims Subway is close to settling with customers in a case regarding the size of the “five dollar foot-long”. Last January plaintiff law firms across the country sued Subway when reports came out that the sub wasn’t actually 12 inches. Customers argued that it was closer to eleven inches rather than twelve, which is what the company promotes. Eleven different firms are involved in this investigation.

5) Article # 5
April 1st, 2014 4:40 P.M
Former Microsoft Employee Pleads Guilty in Software Leak Case Alex Kibkalo, a former Microsoft employee could have faced a $250,000 dollar fine and up to 10 years in prison for theft of trade secrets. Kibkalo, who worked for Microsoft for seven years, leaked a software code that involved future Microsoft products. This information should have been confidential, however when it was leaked, a unidentified technology blogger published it on the internet. In the court hearing, prosecutors recommended three months in prison, and a $20,000 dollar fine for Alex. Kibkalo, got off easy, but prosecutors wanted this to be a warning to other potential thefts.

6) Article # 6
March 28th, 2014 4:32 P.M
MF Global Sues PwC, Alleging Malpractice In 2011 MF Global collapsed and had to file for bankruptcy. Three years later MF Global is now suing PricewaterhouseCoopers LLP for alleging malpractice. MF believes PwC gave illegal tips to others that were the reason for their crash in 2011. MF is suing PwC for no less than 1 billon