Lilly settles Zyprexa suit with S. Carolina
Eli Lilly and Co. has agreed to settle the State of South Carolina’s lawsuit that claimed Lilly improperly marketed the antipsychotic
drug Zyprexa, according to Bloomberg News.
Legal Issues
Articles
State charges Stifel Nicolaus didn’t disclose risks of auction-rate securities
An administrative complaint filed today by the Indiana Secretary of State’s Office alleges Stifel Nicolaus failed to disclose
risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
Charter Homes owner gets 2-plus years for mortgage fraud
Charter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of
$825,000 for his role in a $20 million mortgage fraud scheme.
London hedge fund sues Brightpoint over failed acquisition
A London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor
fraudulently brokered in anticipation of an acquisition in France that never materialized.
Greenwood man admits stealing cemetery funds
A man admits embezzling about $4.2 million in perpetual-care trust funds from a Michigan cemetery operated by his Indianapolis-based
company.
Widow likely biggest beneficiary of Simon’s estate
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more,
wealth managers speculate, based on the legal and tax issues involved in such a large estate.
Lilly’s win in Evista patent case crucial, analyst says
A decision by a federal judge in Indianapolis to turn back a patent challenge to Eli Lilly and Co.’s Evista marks a major
victory for the company, says an analyst who closely follows the pharmaceutical industry.
Ex-Lampoon exec Dan Laikin admits to stock fraud
Carmel businessman Dan Laikin pleaded guilty this afternoon to participating in a fraudulent scheme to pump up the stock price
of National Lampoon Inc., the Los Angeles-based entertainment company he led.
Developer Broadbent sues banks after they tighten credit line
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
Indiana Supreme Court to review library project lawsuit
The Indiana Supreme Court will decide whether engineering subcontractors should be held liable for millions of dollars in
cost overruns in a recent renovation of Indianapolis’ central public library.
Judge refuses to reduce bond in church fraud trials
An Indiana judge today declined to reduce the $1.5 million cash bonds for a former pastor and his sons charged with bilking
church members nationwide out of millions of dollars.
Indiana taking Chrysler bankruptcy case to Supreme Court
Indiana officials are asking the U.S. Supreme Court to reconsider hearing their objections to the Chrysler bankruptcy proceedings
that resulted in its takeover by Italian automaker Fiat.
Dodson Group CFO to plead guilty to wire fraud
A former chief financial officer for The Dodson Group has agreed to plead guilty to wire fraud after admitting to stealing
$422,539 from the Indianapolis-based firm.
Marcus Schrenker gets prison sentence
The Indianapolis money manager who crashed his plane and parachuted to safety in an elaborate scheme
to fake his death and flee financial ruin, has been sentenced to more than four years in federal prison.
Lauth granted reprieve
A judge has given Lauth Group Inc. a reprieve from an equity investor that is seeking to take control of most of the developer’s
properties.
Lawsuit shouldn’t spook artists, attorneys say
The legal tussle between artist, Associated Press raises doubts about artists’ drawing inspiration from the work of their
peers.
Hoosier Energy hit with $120M claim from John Hancock
An electric co-op supplying power to customers in 48 central and southern Indiana counties could face a perilous spike in
its financial load following a $120 million claim against it by insurance giant John Hancock Life Insurance Co.
Firm helps area high schools sell themselves
Continental Enterprises, an intellectual property consulting firm, launched a service this summer to help area high schools register their logos, names and mascots as trademarks and establish licensing programs, assuring that schools will get a cut of all merchandise sales bearing their mark. This month, North Central High School, one of the state’s largest, signed with Continental, and six to eight more schools are expected to follow suit within 60 days.
Murky motive adds intrigue to Old National loan saga
In the buttoned-down world of banking, it doesn't get much stranger than this: An Indianapolis loan officer with a strong reputation is suddenly dismissed after his employer charges he falsified lending documents. The bank says the fraud exposes it to potential losses approaching $20 million. And here's the kicker: The employer hasn't accused the banker of committing the wrongdoing for personal gain.
CMG Worldwide takes tussle over vintage baseball cards to court
New York Yankees first baseman Lou Gehrig died in 1941 of a disease that came to bear his name. Six years later, second baseman
Jackie Robinson famously broke through baseball’s color barrier with the Brooklyn Dodgers, earning the league minimum $5,000.
He died in 1972. Mark Roesler believes the best earning years still lie ahead for both legendary players, as well as many
others like them. But first he must untangle their image rights in federal court in Indianapolis.