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• BANKRUPTCY Power firm, lien holders reach $100M agreement SAN JOSE, CALIF. (AP) � Bankrupt California power company Calpine Corp. said it has reached an agreement with second-lien holders to repay claims worth up to $100 million as part of its reorganization plan. Under the terms, Calpine agreed to repay the lien holders with a secured claim for $60 million in cash and an unsecured claim for $40 million. The unsecured claim means the lien holders are not guaranteed to receive any money, with the ultimate amount dependent on the company’s final restructuring plan. • BREACH OF CONTRACT Metal trader, Chapter 11 copper maker settle suit WASHINGTON (AP) � Gerald Metals Inc., a metals trading company, has agreed to pay copper producer Asarco LLC $5.5 million to settle a lawsuit Asarco filed last year over a contracts dispute between the two companies. Tucson, Ariz.-based Asarco has been in Chapter 11 bankruptcy since August 2005. The agreement settles a May 2006 lawsuit Asarco filed that claimed Gerald Metals owed it $7.1 million from various agreements. According to the complaint, Gerald Metals agreed to acquire copper reverts from Asarco every month between April 2004 and the end of that year. Copper reverts constitute refined copper that can be put to further use. • CONSUMER PROTECTION AOL to pay $3M, reform service, cancel policies NEW YORK (AP) � America Online Inc. has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement with 48 states and the District of Columbia. The resolution announced was driven by a deluge of complaints from AOL customers who said had they tried to close their accounts, only to discover they were still being billed for services they thought had been canceled. The outcry triggered a multistate investigation that could have culminated in a lawsuit. • PERSONAL INJURY Two firms pay man $5M over exercise table injury OAK BROOK, ILL. (AP) � Two companies have agreed to award $5 million to an Illinois man, who was paralyzed from the shoulders down when he slipped from a rotating exercise table in the basement of his home in 2002, according to the Chicago-Sun Times. Sixty-eight-year-old Herb Tinney, who once was a physical fitness enthusiast, will probably spend the rest of his life in a nursing home. According to his lawsuit, Tinney, who lived alone, spent nearly three days on his basement floor after the accident � unable to answer the telephone or summon help. Stl International Inc., the company that made the machine, and Fitness Experience, the Westmont, Ill., fitness store that sold it to Tinney, have agreed to pay him $5 million to settle a negligence suit. • SEX DISCRIMINATION Jury awards $6M to college volleyball coach FRESNO, CALIF. (AP) � A California state jury has awarded $5.85 million to a former women’s volleyball coach at California State University at Fresno, ruling the school had discriminated against her for advocating on behalf of female athletes. Lindy Vivas was fired in 2004, two years after coaching her team to its best season in history. The 50-year-old coach sued, saying her contract wasn’t renewed because she advocated equal treatment of women athletes and access to facilities on the campus. • SHAREHOLDER SUIT Health products provider settles inflated stock suit NEW YORK (AP) � Cardinal Health Inc. has agreed to settle shareholder derivative suits against some current and former executives and directors, according to a filing with the U.S. Securities and Exchange Commission. Under the settlement, Cardinal Health will receive insurance payments totaling $70 million, less up to $12 million for plaintiffs’ attorney fees. The shareholders alleged that Cardinal Health issued false or misleading statements that artificially inflated the company’s stock price. Tyco ex-auditor settles fraud suit for $225M TRENTON, N.J. (AP) � PricewaterhouseCoopers LLP has agreed to pay $225 million to settle a class action brought by shareholders of Tyco International Ltd. over a multibillion-dollar accounting fraud that sent Tyco’s top executives to prison. The settlement with Tyco’s former auditing firm comes on top of one reached in May, in which Tyco agreed to put $2.975 billion into a fund to settle most shareholder claims over the actions of former Chief Executive Officer L. Dennis Kozlowski and ex-Chief Financial Officer Mark Swartz. The shareholders’ suit claimed that as Tyco’s independent auditor, PricewaterhouseCoopers failed to uncover fraud in the accounting scandal at the conglomerate. According to the shareholders, Tyco overstated its income during that period by $5.8 billion. Investors’ losses have been estimated at $1 billion to $2 billion. • TORTS Insurer settles asbestos case for $449 million ST. PAUL, MINN. (AP) � The Travelers Cos. Inc. has said that it would settle one of its largest asbestos cases for $449 million. The St. Paul-based commercial insurer settled the case with ACandS Inc., which installed insulation with asbestos from 1958 to 1974 and was insured by Travelers. Travelers said it would pay $365 million of the settlement and reinsurers would cover $84 million. The settlement comes after a federal appeals court reinstated an ACandS lawsuit in January 2006 over what limits apply to its coverage. The lawsuit claimed that Travelers was liable for 45% of the $2.8 billion that Lancaster, Pa.-based ACandS paid to settle asbestos-related claims.

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