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ADA Retailer settles suit by better wheelchair access Washington (AP)-Electronics retailer RadioShack Corp. will ensure that more than 5,000 of its stores will make it easier for wheelchair users to access its interactive electronic displays in a settlement announced today. Wheelchair users alleged that RadioShack stores in the Washington area had barriers that denied them access to entrances, aisles and sales counters. Although the lawsuit, filed in District of Columbia federal court under the Americans With Disabilities Act, involves 49 stores in the Washington area, all 5,000 company-owned RadioShacks nationwide are subject to the changes. BREACH OF CONTRACT Oil company hit with $7.5 million judgment Oklahoma City (AP)-An Oklahoma state jury has awarded more than $7.5 million in actual and punitive damages to seven plaintiffs against Capstone Oil and Gas Co. The plaintiffs sued Capstone, alleging fraud, breach of contract, breach of fiduciary duty and violation of production revenue. The plaintiffs and Capstone each own a share of the rights to an oil well located in Kingfisher, Okla. The plaintiffs alleged that they were not paid production royalties on the well from June 2001 through July 2004. Canadian diocese must pay $8M over land deal Olympia, Wash. (AP)-A Washington state judge has ordered the Roman Catholic Diocese of Victoria, British Columbia, to pay a Seattle-area lawyer more than $8 million after a five-year legal battle over a land deal. In May, a jury ruled that the diocese, which covers Vancouver Island and has 75,000 members, had breached its contract with Joseph C. Finley. The jury awarded him nearly $8.2 million for breach of contract, plus $4.2 million for breach of fiduciary duty or trust. However, the judge ruled that Finley is entitled only to the $8.2 million. CONSUMER PROTECTION Subprime credit provider settles with W. Virginia Charleston, W.Va. (AP)-Applied Card Systems and its parent, a provider of subprime credit, have agreed to pay West Virginia $1.5 million to settle a consumer protection lawsuit against the companies. Applied Card processes credit card accounts, while its parent, Cross Country Bank, based in Wilmington, Del., provides credit cards to consumers with bad credit histories. The lawsuit accused Cross Country Bank of deceptive marketing and Applied Card, the bank’s collection agency, of using abusive methods. FRAUD Cornell College to pay $4.3M to settle charges New York (AP)-The Weill Medical College of Cornell University has agreed to pay $4.3 million to settle civil charges that the school defrauded the government with money it received for research. The grant from the National Institutes of Health was meant to support a Children’s Clinical Research Center where medical college physician-investigators provided pediatric clinical care and conducted research, prosecutors and the FBI said in a joint release. However, the college cheated the government by letting a single physician-investigator and a lone division of the college have all the federal money when it was supposed to support research in a broad array of scientific disciplines. NEGLIGENCE Bank alleged to abet Enron collapse settles New York (AP)-Enron Corp. has struck its first deal with one of 10 financial institutions it claims could have prevented the energy trader’s collapse. Enron reported that Royal Bank of Scotland has agreed to make a $41.8 million cash payment and forfeited rights to claims in the Enron bankruptcy. In addition, Houston-based Enron will pay $20 million in cash to the Edinburgh-based bank, in exchange for $329 million in claims that Royal Bank of Scotland said Enron owed in back fees. Once the agreement is approved by a bankruptcy court judge, Enron will have received a total of $21.8 million from Royal Bank of Scotland to resolve its portion of the litigation. VICARIOUS LIABILITY Morgan Stanley agrees to pay Parmalat $187M Rome (AP)-Morgan Stanley has become the first U.S. investment bank to settle with Parmalat Finanziaria SpA, the Italian dairy company that failed in accounting scandals last year. Morgan Stanley will pay $186.7 million to settle charges that it knew that Parmalat was failing even as it helped the company raise billions of dollars in capital in the U.S. and other markets. The investment bank also released Parmalat from any counterclaims on losses it took as part of its advisory and underwriting role. Morgan Stanley arranged a $362 million bond issue in June 2003 for the Italian company, six months before the company’s decade-long, $18 billion fraud was uncovered in December 2003.

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