US District Judge Barbara Jones Monday suspended the fraud trial of former WorldCom chief Bernard Ebbers until Wednesday without explanation. The postponement comes just before the defense's cross-examination of the government's star witness, Scott Sullivan, the former finance chief at WorldCom. Sullivan implicated Ebbers in the company's $11 billion accounting fraud during his testimony. Specifically, [...]

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Eleven al Qaeda suspects began their trial in Yemen on Monday, charged with trying to support insurgents battling against US forces in Iraq and Afghanistan. The defendants were also charged with planning attacks in Yemen. The defendants admitted to forging passports, but denied all other charges. If convicted, they face an unspecified amount of jail [...]

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Apple Computer and Sony will appear in a French court over claims that their respective music download sites, iTunes and Connect, are deceptive and force customers to buy other products which are tied together. The French consumer group Union Federale des Consommateurs–Que Choisir has initiated the lawsuits, and claims that Sony and Apple limit consumer [...]

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Leading Monday's corporations and securities law news, insurance giant American International Group (AIG) announced it has received subpoenas from New York Attorney General Eliot Spitzer and the SEC "relating to investigations of nontraditional insurance products and certain assumed reinsurance transactions and AIG's accounting for such transactions." AIG said it will cooperate with the probe. Spitzer, [...]

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Amnesty International has issued a Valentine's Day warning that "conflict diamonds," gems whose sale finances war, terrorism, and human rights abuses, are still being imported into the US due to loopholes in Customs procedures. The 2003 Clean Diamond Trade Act prohibits most imports that do not comply with the Kimberly Process Certification Scheme, but Amnesty [...]

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