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• BANKRUPTCY GM, auto-parts maker reach $200M settlement NEW YORK (AP) � A New York federal bankruptcy judge has approved a $200 million settlement between auto-parts maker Delphi Corp. and General Motors Corp. The deal calls for Delphi to pay GM $130 million in cash over time and ship about $70 million in replacement parts. Troy, Mich.-based Delphi, GM’s former parts-making division, has been in bankruptcy since October 2005. The settlement comes after Delphi reached a wide-ranging deal with GM to settle issues over supplies, pricing, retirement liabilities and plant closings. • BREACH OF CONTRACT Eli Lilly pays biotech firm $18M to settle dispute TARRYTOWN, N.Y. (AP) � Biotechnology company Emisphere Technologies Inc. said it has accepted an $18 million settlement from Eli Lilly and Co. for a pending lawsuit. In 2006, a federal court ruled that Eli Lilly and Co. breached a development agreement between the companies by using Emisphere technology for research beyond the scope of their cooperation. Emisphere, which concentrates on developing oral versions of injectable drugs, ended the relationship in 2004. • FRAUD Freddie Mac pays $50M to settle SEC charges WASHINGTON (AP) � Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings during a four-year period, the U.S. Securities and Exchange Commission announced. An accounting scandal erupted at the government-sponsored company in June 2003 when it disclosed that it had misstated earnings by some $5 billion for the years 2000 to 2002 to smooth quarterly volatility in earnings and meet Wall Street expectations. Medical implant makers pay $310M for kickbacks NEWARK, N.J. (AP) � Five makers of medical-device implants have made agreements with the U.S. government to resolve fraud concerns over industry practices, with four companies paying a total of $310 million. The agreements involve Biomet Orthopedics Inc., DePuy Orthopaedics Inc., Smith & Nephew Inc., Stryker Corp. and Zimmer Holdings Inc. The firms account for nearly 95% of the market in hip and knee implants. The U.S. Department of Justice began investigating the industry in 2005 on charges that companies may have paid kickbacks to orthopedic surgeons in return for favoring their products. • PATENTS Internet firm told to pay Sprint for infringement KANSAS CITY, KAN. (AP) � A Kansas federal court has ordered Internet telephone company Vonage Holdings Corp. to pay Sprint Nextel $69.5 million in damages for infringing on six telecommunications patents owned by Sprint Nextel Corp. Sprint sued Vonage in 2005, claiming that it had infringed on seven Sprint patents for connecting and transmitting Internet phone calls. • REGULATORY ACTION Bank fined $12.5M for failure to provide e-mails WASHINGTON (AP) � The Financial Industry Regulatory Authority (FINRA) said it reached a settlement with Morgan Stanley, fining the investment bank $12.5 million to settle claims that it failed to provide e-mails and supervisory materials for arbitration proceedings. Morgan Stanley claimed former affiliate Morgan Stanley DW Inc.’s e-mail servers were destroyed in the Sept. 11, 2001, terrorist attacks. It was determined that the e-mails were stored on backup systems in another location. A $9.5 million distribution fund will be set up to make payments to eligible arbitration claimants. FINRA will get a $3 million payment as part of the settlement. • SHAREHOLDER SUIT Sprint settles charges it shortchanged stock value OLATHE, KAN. (AP) � Sprint Nextel Corp. has proposed paying $57.5 million to settle a class action claiming it robbed shareholders of billions of dollars when it combined two tracking stocks in 2004. A Kansas state judge has given the settlement preliminary approval and has scheduled a hearing in December to consider giving final approval. The case came about after then-Sprint Corp. decided to combine two stocks that tracked the fortunes of its wireless and traditional wireline business divisions. Sprint exchanged each of the wireless stock shares for half a share of the wireline stock. Shareholders claimed the company had shortchanged the value of the wireless stock. • TORTS Jury awards $19M to boy injured by falling TV CHICAGO (AP) � An Illinois state jury has told the Archdiocese of Chicago to pay $19 million to a 13-year-old boy who suffered severe brain injuries when a television fell on his head at school. In October 2003, a TV bolted to a stand toppled onto the child at St. Genevieve School when he tugged on it. While he is now in the eighth grade, his cognitive abilities are at a third-grade level.

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