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News & Updates

November 29, 2011 Royal Bank of Scotland company agrees to $52 million settlement with state over its role in subprime lending

Source: Boston.com

A subsidiary of the Royal Bank of Scotland will pay $52 million for its role in the state's "subprime mortgage meltdown," Attorney General Martha Coakley said today, in an agreement that will help more than 700 Massachusetts...

November 28, 2011 Business ethics

Source: Nappa Valley Register

There is an oft-quoted story of a chicken and pig who, while walking down the street, come upon a diner. A sign in the window reads, “Ham and egg breakfast, $2.95.” The chicken says to the pig, “Why don’t we go in and have...

November 28, 2011 Quality of CSR reports 'appalling at times'

Source: CorpComma

UK companies are frequently disclosing incorrect and irrelevant data in their CSR reports, according to researchers at the University of Leeds and Euromed Management School.

November 25, 2011 China Starts Probe Into U.S. Renewable Energy-Policy, Subsidies

Source: Bloomberg

China started an investigation on supportive policies and subsidies on U.S. products in the renewable energy sector, according to a statement posted on the Ministry of Commerce’s website. The ministry launched the investigation...

November 24, 2011 Merck to Plead Guilty, Pay $950M in U.S. Vioxx Probe

Source: Bloomberg

Merck & Co. (MRK), the second-largest U.S. drugmaker, will pay $950 million and a unit of the company will plead guilty to a criminal misdemeanor charge to resolve a U.S. probe of its illegal marketing of the painkiller Vioxx....

November 23, 2011 Madoff trustee settlement to recover $326 million from IRS

Source: Reuters

The trustee seeking money for victims of imprisoned swindler Bernard Madoff has reached an agreement with the U.S. Internal Revenue Service (IRS) to recover $326 million that was earlier transferred to the agency by Madoff's firm...

November 22, 2011 SEC Charges Longtime Madoff Employee With Creating Fake Trades

Source: SEC

Washington, D.C.– The Securities and Exchange Commission has charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme. [more]

November 18, 2011 Professors Says Occupy Wall Street Movement Is Cry for New Business Ethics

Source: WebWire

A Virginia business professor says that the Occupy Wall Street protests are a symbol of a new agenda for an ethics-focused generation. Fernando Pargas, in his new book "Stopping Big Business and Politics from Bleeding America: An...

November 17, 2011 A Fund-Raiser for Liu Is Arrested on Fraud Charges

Source: NY Times

A fund-raiser for the New York City comptroller, John C. Liu, whose campaign finances are under federal investigation, was arrested on Wednesday morning on charges that he helped illegally funnel thousands of dollars into Mr....

November 16, 2011 Olympus May Face Class-Action Lawsuit in U.S. Over Alleged Fraud, Losses

Source: Bloomberg

Olympus Corp. (7733), the camera maker being investigated by Japanese, U.S. and U.K. authorities for alleged accounting irregularities, was sued by an investor in its American depositary receipts seeking class-action status....

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