BRIEFCASE.Byline: -- Staff and Wire Services Ex-Homestore executive settles A former Homestore Inc. executive will pay $2.6 million to settle charges of shareholder fraud in connection with a scheme to inflate online ad revenue at the online real estate listings company, the Securities and Exchange Commission said Tuesday. Peter B. Tafeen of Parkland, Fla., was executive vice president for business development at the Westlake Village-based company. Homestore has since changed its name to Move Inc. Under the terms of the settlement, Tafeen also has been permanently barred from serving as an officer or director of a public company. A federal judge must still sign off on the settlement agreement. Lay case ruling upheld by court HOUSTON -- A federal appeals court has upheld a judge's ruling to vacate To annul, set aside, or render void; to surrender possession or occupancy. The term vacate has two common usages in the law. With respect to real property, to vacate the premises means to give up possession of the property and leave the area totally devoid of contents. the conviction of Enron Corp.'s late founder, Kenneth Lay Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman, best known for his role in the widely-reported corruption scandal that led to the downfall of Enron Corporation. , who had been found guilty earlier this year of committing fraud and conspiracy in one of the biggest corporate scandals in U.S. history. The challenge to the ruling by U.S. District Judge Sim Lake Sim Lake is an American judge and attorney who has served on the United States District Court for the Southern District of Texas since 1988. He notably presided over the the trial of Enron Chairman Ken Lay and former Chief Executive Officer Jeff Skilling. came from Russell Butler, an Enron shareholder who lost $8,000 in the company's collapse. Butler, a Maryland crime-victims attorney, had asked Lake for an order of restitution based on Lay's conviction under the Crime Victims' Rights victims' rights, rights of victims to have a role in the prosecution of the perpetrators of crimes against them. Nearly all U.S. states have enacted some victims' rights legislation. Act. Lake ruled he was bound by previous court rulings, which stated that a defendant's death pending appeal extinguished his entire case because he hadn't had a full opportunity to challenge the conviction. Monster delaying its Q3 report WASHINGTON -- Monster Worldwide Inc. delayed filing its third-quarter report Tuesday, citing the demands of its ongoing options review. The online job search and recruitment company said Oct. 25 that it found pricing problems in a ``substantial number'' of its past option grants, and that as a result it expected to restate its results from 1997 through 2005. Monster said it doesn't expect the restatements to affect its results for this year. Monster said in its filing with the Securities and Exchange Commission on Tuesday that it would file the delayed report ``as soon as practicable.'' Court boots Visa from soccer deal NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- A federal appeals court has kicked Visa International Inc. out of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. challenging its deal to sponsor the next two World Cup soccer tournaments. The 2nd U.S. Circuit Court of Appeals said in an order Monday that it would not overrule The refusal by a judge to sustain an objection set forth by an attorney during a trial, such as an objection to a particular question posed to a witness. To make void, annul, supersede, or reject through a subsequent decision or action. a U.S. District Court judge's decision to deny Visa a chance to participate in a lawsuit MasterCard International Inc. brought against FIFA FIFA International Association Football Federation [French Fédération Internationale de Football Association] FIFA n abbr (= Fédération Internationale de Football Association) → FIFA f , soccer's international governing body. MasterCard claimed in its April lawsuit against soccer's governing body that FIFA signed a deal with Visa that takes effect Jan. 1 even though MasterCard had a right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. to sponsor the 2010 and 2014 World Cups. The Purchase, N.Y.-based company, the nation's second-largest credit card brand, behind Visa, said it returned a signed contract to extend a sponsorship deal with FIFA that made it the exclusive payments sponsor for the 2006 World Cup in Germany. |
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