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• BANKRUPTCY $149M short-term debt settlement for Enron HOUSTON (AP)Enron Creditors Recovery Corp., formerly known as Enron Corp., said it will receive $149 million as part of a settlement with companies that received payments on so-called”commercial paper,” or short-term debt incurred by the former energy giant before its bankruptcy filing in 2001. Utility pays Enron $18M over canceled contract EVERETT, WASH. (AP) � The Snohomish County Public Utility District said it will pay $18 million to settle all claims made by Enron Corp. against the Everett-based utility. The utility,which serves 300,000 customers, canceled the contracts and refused to pay because it accused Enron of fraud. The agreement was reached a few days before the utility was scheduled to begin bindingarbitration. • BREACH OF CONTRACT Security firm pays $18M for not providing guards TOPEKA, KAN. (AP) � Akal Security Inc. of New Mexico has agreed to pay the U.S. government $18 million to settle allegations that it violated terms of a contract to provide trainedcivilian security guards at eight Army bases. Akal Security was hired in September 2003 to provide guards at several Army bases. An investigation indicated that Akal failed to provide as many properly trained guards as the contract required. • CLASS ACTION Cigna securities fraud suit settles for $93M PHILADELPHIAA Pennsylvania federal judge has given final approval of a $93 million settlement in a securities fraud suit against Cigna Corp. that accused the company of hiding the fact that itwas experiencing significant problems in an overhaul of its computer systems and that its stock price had plummeted by 45% when news of the problems was disclosed. The suit alleged Cigna misled investorsby claiming that the transformation project was “on track.” – ALM • CONSUMER PROTECTION Auto marketing firm to pay $5M for false claims ATLANTA (AP) � The Georgia Governor’s Office of Consumer Affairs has levied a $5 million penalty against Smart Automotive Group, an automotive marketing company, for misleadingconsumers. The Kenner, La.-based company is cited for making false claims about the uniqueness of a sales event, telling customers they had won prizes when they had not and telling consumers they werepreapproved for loans that did not exist. • MEDICAL MALPRACTICE Negligent hiring of doctor costs hospital $22M ROSWELL, N.M. (AP) � A New Mexico state jury has awarded $21.9 million in a medical negligence lawsuit against the Eastern New Mexico Medical Center. According to court records, Walter Grassie, 78, was taken by ambulance to the hospital complaining of chest pains on Aug. 19, 2005, and died in the emergency room. The jury found the hospitalnegligent in hiring emergency room physician Dr. Theodore Collins, who had been removed earlier as director of another hospital emergency room. • PRODUCTS LIABILITY Heart defibrillator suits settle for $195 million MINNEAPOLIS (AP) � Boston Scientific Corp. has agreed to pay $195 million to settle around 4,000 claims involving heart defibrillators and pacemakers made by Guidant Corp., which itacquired for $27 billion in April 2006. Boston Scientific faced some 1,430 lawsuits stemming from recalls and warnings involving the Guidant products. Since June 2005, Guidant had recalled more than 88,000 defibrillators and about200,000 pacemakers. • RACE DISCRIMINATION Walgreen pays $20M to settle racial bias suits ST. LOUIS (AP) � Walgreen Co. will pay $20 million to settle a federal lawsuit alleging widespread racial bias at the nation’s largest drugstore chain under the terms of a proposed deal. The U.S. Equal Employment Opportunity Commission filed the class action in March, alleging that Walgreen discriminated against thousands of black workers in hiring, assignment and promotiondecisions. • REGULATORY ACTION UBS, N.Y. settle lawsuit over brokerage program ALBANY, N.Y. (AP) � UBS Financial Services Inc. reached a $23.3 million settlement with New York state for inappropriately guiding customers into a fee-based brokerage program. The private wealth management firm reached the settlement following New York Attorney General Andrew Cuomo’s investigation of allegations that UBS pushed thousands of traditional brokeragecustomers into the fee-based accounts of its InsightOne brokerage program.

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