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DEFAMATION Anheuser-Busch, Maris family settle for $120M New York (AP)-Anheuser-Busch Cos. Inc. has agreed to pay at least $120 million in cash to the family of former baseball great Roger Maris as part of a settlement that ended a defamation trial and other litigation. The settlement encompasses the defamation lawsuit and a $50 million jury award won by the Maris family-owned beer distributorship, Maris Distributing Co., against the nation’s largest brewer in 2001 for ending their beer distributorship contract in 1997. The award had been tied up on appeal. Maris’ relatives accused the brewer of defamation after company officials publicly asserted that the family’s distributorship was deficient and sold repackaged, out-of-date beer. PROFESSIONAL LIABILITY Auditor to pay $18M for failure to follow GAAP Holtsville, N.Y. (AP)-Symbol Technologies Inc., a maker of bar-code scanners and other inventory management products, has settled a lawsuit with its former auditor PricewaterhouseCoopers, under which the accounting firm will pay $18 million. Symbol said that PricewaterhouseCoopers will pay the settlement to its wholly owned subsidiary Telxon Corp. by Sept. 30. Telxon, which was acquired by Symbol in 2000, sued PricewaterhouseCoopers in 2001 for not conducting its audits in accordance with generally accepted accounting principles (GAAP) for the years 1996 through the first half of 1999. Telxon had to restate its financial results, which led to a shareholder class action charging Telxon with misleading investors. In February 2004, Telxon received approval to pay $37 million to settle the class action. SANCTIONS FDIC must pay Texas companies $72 million Dallas-A Texas federal judge has ordered the Federal Deposit Insurance Corp. (FDIC) to pay two Houston-based firms more than $72 million in sanctions for legal and other expenses in a 10-year legal battle with the agency. The action arose out of the FDIC’s attempt to obtain restitution for losses caused by the companies’ alleged violations of federal law in connection with the failure of United Savings Association of Texas. The judge ruled that Houston businessman Charles Hurwitz and the two companies he controls, Maxxam and Federated Development Inc., should recover their defense costs. In 2002, Hurwitz, Maxxam and Federated Development reached a settlement with the Office of Thrift Supervision in a related administrative action filed over the failure of United Savings Association of Texas in 1988. -ALM SUPERFUND Firms, EPA settle over groundwater pollution Los Angeles (AP)-A Connecticut-based company that contaminated San Gabriel Valley groundwater with its metal cleaning and degreasing procedures has agreed to spend $27.8 million on environmental projects and penalties in a Superfund settlement reached with the Environmental Protection Agency. Farmington, Conn.-based Carrier Corp., which manufactures air conditioning and heating units, and its parent company, United Technologies Corp., will spend about $26.5 million to build a groundwater cleanup system that will include the installation of wells to pump out contaminated water and prevent its migration. The EPA had listed several sections of the San Gabriel Valley as Superfund sites in 1984. U.S. settles with Denver over landfill cleanup Denver (AP)-The Justice Department and the Environmental Protection Agency have said that the city of Denver and seven companies have agreed to pay $13.9 million as costs owed the federal government for cleanup at the Lowry Landfill Superfund site. The agreement, which settles a three-year legal battle, also requires Denver and the companies to continue cleanup of the 508-acre site, a former bombing range later turned into a landfill. Maintenance and cleanup costs are expected to total $43 million over the next 30 years at Lowry, one of the country’s largest Superfund sites. The Justice Department filed a lawsuit in 2002 naming Denver, the landfill’s owner, and Waste Management of Colorado Inc., the landfill’s operator. Lowry was an Air Force bombing range from the 1930s until 1966, when it was turned over to Denver and used as a landfill. WASTE DISPOSAL City settles toxic ash suit with black residents Jacksonville, Fla. (AP)-Residents who claimed they had been exposed to toxic ash produced by municipal trash incinerators and buried in predominantly black neighborhoods have reached a $75 million settlement with the city of Jacksonville. As part of the settlement, some residents from the most polluted sites will be relocated. The city must pay $25 million by the end of the year, and the city’s former insurance companies would contribute the rest. The lawsuit, filed in state court in 2003, claimed residents were exposed to lead, arsenic and other toxins in the ash produced by the incinerators.

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