Tuesday, March 10 2009
YAHOO SETTLEMENT APPROVED
WASHINGTON – Yahoo Inc. has won a judge’s approval of a settlement mandating changes to the company’s severance plan that investors contend will make it easier for Microsoft Corp. or other potential suitors to buy it. Chancery Court Judge William B. Chandler III said he would approve the accord, which resolves investor lawsuits over Yahoo executives’ decision last year to rebuff Microsoft’s buyout offers.
SEC ENDS INVESTIGATION OF FORRESTER
WASHINGTON – Forrester Research Inc. has been cleared by US federal regulators in a probe into the company’s stock-option granting practices. Forrester said the investigation by the Securities and Exchange Commission has concluded and that the agency “does not intend to recommend any enforcement action” against the research firm.
WHOLE FOODS SETTLES WILD OATS CASE
WASHINGTON – Premium organic grocer Whole Foods Market Inc has settled an antitrust battle with U.S. regulators by agreeing to sell the Wild Oats brand, 13 functioning stores, and leases and assets for 19 closed stores. The US Federal Trade Commission had challenged Whole Foods' purchase of smaller rival Wild Oats well before the deal was completed in August 2007, saying it was concerned about loss of competition in 29 markets.
EX-HOMEGOLD CHAIRMAN GUILTY OF FRAUD
LEXINGTON – A South Carolina jury has found former HomeGold Financial Inc. Chairman Jack Sterling guilty of securities fraud and a judge quickly sentenced him to five years in prison for his role in a bankruptcy that cost investors $275 million. However, Sterling was acquitted of a conspiracy charge.
EU RECEIVES COMPLAINT ABOUT FRANCE TELECOM
BRUSSELS – The European Commission confirmed it has received a complaint from French media group Vivendi accusing France Telecom of abusing a dominant market position.