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CIVIL RIGHTS Real estate firm to pay out for ADA compliance Baltimore (AP)-A Colorado real estate company, Archstone-Smith Trust, has agreed to fix defects that make parts of apartment buildings it built inaccessible to people with disabilities. The defects include doorways that are too narrow and mailboxes that are too high for people in wheelchairs. The cost to the company of complying with the Fair Housing Act and the Americans With Disabilities Act is expected to exceed $20 million. CONSUMER PROTECTION Eli Lilly to pay $690M to settle Zyprexa claims Indianapolis (AP)-Eli Lilly & Co. has agreed to pay $690 million to settle claims that labels on its anti-psychosis drug Zyprexa had failed to provide adequate warning that the drug could put patients at risk for developing diabetes. Most of the lawsuits claimed that before September 2003, the information on Zyprexa labels regarding the risk of hyperglycemia and diabetes was not adequately displayed. In September 2003, the Food and Drug Administration required label changes for all atypical anti-psychotic drugs to warn against the risk. The agreement only involves people who filed claims arguing that they developed diabetes-related conditions from using Zyprexa. ELECTRONIC COMMERCE Web marketer to settle spyware suit for $7.5M Albany, N.Y. (AP)-New York Attorney General Eliot Spitzer has reached an agreement in principle with Web marketer Intermix Media Inc. in which the company has agreed to pay $7.5 million over three years to settle accusations that it surreptitiously installed software on computers. Spitzer charged Intermix with secretly installing “adware”-software that delivers pop-up advertisements or similar promotions. The company did this, he said, by offering free screen savers or other products that, when accepted, would download the adware. MEDICAL MALPRACTICE Misdiagnosis resulting in death yields $8M award Fort Lauderdale, Fla. (AP)-A Florida state jury awarded $8 million to the husband of a woman who died after getting chemotherapy that wasn’t necessary. The jury ruled against Coral Springs Medical Center, University Hospital in Tamarac, Fla., and two doctors. According to a private autopsy, Janet Pandrea didn’t have the cancer she was treated for. She had a benign tumor in one lung, which could have been operated on. However, on being hospitalized for breathing problems connected to the chemotherapy, Pandrea underwent an operation after being misdiagnosed for stomach ulcers. She died of severe infection after the operation. NEGLIGENCE Investment banks to pay state pension fund $49M Montgomery, Ala. (AP)-Five investment banks have agreed to pay the Alabama state pension fund $49 million to settle litigation arising out of the 2001 collapse of Enron Corp. In the suit, the pension fund said that the five firms that underwrote or sold Enron stocks and bonds should have known Enron was in trouble and should not have encouraged the public employees’ pension fund to invest in the company. REGULATORY ACTION Ex-AremisSoft CEO to pay SEC $200 million Washington (AP)-A former chief executive officer of now-defunct AremisSoft Corp. has agreed to pay some $200 million to settle charges by federal regulators that he illegally profited by selling millions of his shares of company stock while making fraudulent public statements about the company’s finances. The Securities and Exchange Commission announced the settlement with Roys Poyiadjis, which, the agency said, calls for one of its largest recoveries against an individual. The money will go to defrauded investors as part of the software company’s bankruptcy resolution. The SEC brought the case in 2001 alleging that Poyiadjis had engaged in “massive” insider trading of company stock through offshore entities while making false statements about the company. SHAREHOLDER SUIT J.P. Morgan, Citigroup to pay Enron backers $4.2B New York (AP)-Former Enron Corp. investors earned $4.2 billion in settlements from JPMorgan Chase & Co. and Citigroup Inc. resolving lawsuits over Enron’s fraudulent finances. J.P. Morgan announced a $2.2 billion settlement to the lawsuit filed by about 50,000 Enron stock and bond holders led by the University of California. The settlement came just four days after Citigroup Inc. agreed to pay investors $2 billion to settle the lawsuit. The lawsuit alleged that a number of banks and brokerages helped Houston-based Enron continue to operate and raise money even as the energy trader was lurching toward bankruptcy. TRUSTS AND ESTATES Trustees must give out $80M by June 2007 Amarillo, Texas (AP)-Trustees overseeing the distribution of an $80 million trust have two years to finish handing out funds amassed by a philanthropist who died in 1998. A settlement signed by a Texas state judge gives the co-trustees of the Sybil B. Harrington Living Trust, Laurie McWeeney and New York-based U.S. Trust Co., until June 30, 2007, to finish granting the millions to public charities in 28 Amarillo-area counties, Travis County and Maricopa County, Ariz.

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