Trials in two high-profile corporate fraud cases are under way, with the trial of former HealthSouth Corp. CEO Richard Scrushy beginning Tuesday and jury selection in the retrial of former Tyco Inc. officials being completed. Scrushy faces 58 criminal charges in connection with $2.64 billion accounting scandal that came to light in 2003. He will [...]

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Jury selection in the trial of former WorldCom CEO Bernard Ebbers was completed Tuesday, and opening statements began this afternoon. Ebbers faces charges of fraud, conspiracy and filing false regulatory reports in the $11 billion fraud scandal that forced WorldCom, now MCI , into bankruptcy. Read the Ebbers indictment and superseding indictment . Ebbers, who [...]

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High-profile New York-based monitoring group Human Rights Watch has broken from its practice of not directly endorsing or opposing Cabinet nomineees to issue a formal statement opposing the nomination of White House counsel Alberto Gonzales for the post of US Attorney General. HRW said in a press release Monday that it had serious reservations about [...]

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Leading Tuesday's corporations and securities law news, SEC Chairman William Donaldson stated in a speech today that the agency is considering changes to the Sarbanes-Oxley Act to ease burden on foreign companies. Companies in both Europe and the US have complained of the costs to meet the act's requirements. European companies also contend that some [...]

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The National Telecommunications Commission in the Philippines has ordered cable operators to shut down all chat rooms, in response to complaints that some had become sex channels. The NTC commented that some chat room operators were not regulating the use of profane language or explicit messages in their facilities. The Philippine Daily Inquirer has more.

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