After hacking into Thomson Financial’s computer network to obtain nonpublic financial information about pharmaceutical consultancy IMS Health, a Ukrainian man was ordered by a U.S. judge to pay $580,000 in penalties, according to Reuters News Agency.
Just after obtaining the information—and right before an earnings release—Oleksandr Dorozhko purchased 630 put options on IMS’ common [...]

A federal appellate court ruled today that Taco Bell, and not its ad agency TBWA, is responsible for the $42 million payment to the original creators of the now famous Taco Bell Chihuahua mascot.

In 2005, Adidas AG sued Collective Brands, Inc., parent company of Payless ShoeSource, for selling shoes that have a triple-striped design similar to that of Adidas’ products. In early May, a federal jury in Oregon awarded Adidas nearly

What started off as a media dream story (with the words “Rupert Murdoch,” “employs” and “hacker” all in the same headline) ended on a very anticlimactic, and somewhat humorous, note. Readers might remember the DISH Network lawsuit that hoped to receive nearly $1 billion in damages from

Who says random airport searches don’t work? United States customs officials discovered that Hanjuan Jin, 37, a China-born U.S. citizen, was allegedly trying to leak confidential trade secrets from her former U.S. employer to a China-based rival when they searched her luggage at

Thanks to a settlement announced last Thursday, 3M Company will have to change the labels of their tape products and pony up nearly $700,000 for allegedly misrepresenting the physical dimensions of their tape by six percent. 3M was accused of mislabeling its products by Fresno, California’s Division of Measure Standards, which brought suit against [...]

A whopper of a sentence came in on Monday for the Chinese-born engineer who last May was convicted of conspiring to hand over U.S. military secrets to China. Chi Mak, 67, was given 24 1/2 years for smuggling top secret data, acting as an unregistered foreign agent in the U.S., attempting to violate export [...]

Indiana resident James M. DiBlasio woke up to more than a hangover the morning after a three-day drinking binge. At some point during the 72 hours that he was drunk he managed to hack into the Denver-based server of his employer, Ski.com, and change various data such as flight reservations and contact information. [...]

A Florida man has been found guilty of dishing out company trade secrets from his former employer, Alpha Mining Systems, to competitors. Alpha, a global manufacturer of industrial mining tires, won a $19.7 million judgment against Sam Vance, the company’s former sales and marketing manager. The judge ruled that Vance gave competitors more [...]

Two Silicon Valley engineers set to go on trial for stealing trade secrets had their charges upgraded on Wednesday to economic espionage. Economic espionage, though rarely charged, is the most serious crime under the 1996 Economic Espionage Act.

A new study released by forensic accounting firm Kroll and the Economist Intelligence Unit revealed that a majority of companies around the world are exposed to fraud.
The study says that companies with over $5 billion in revenue lost more than $20 million on average due to fraud-related damages over the past three years. One [...]

Qwest announced an amended benefits plan for its new CEO Edward Mueller on Friday allowing his wife and stepdaughter use of the corporate jet. The plan was set in place in order to allow Mueller’s stepdaughter to fly between Denver and California where she is finishing high school.
The agreement also gives Mueller and [...]

A Michigan forensics scientist is being investigated after she admitted to using state equipment in order to search her husband’s underwear for another woman’s DNA. Ann Chamberlain-Gordon admitted during a March 7th divorce hearing that she used expired chemicals during her free time to conduct the tests, and that the results confirmed the presence [...]

What happened to the good old days, when employees just raided the supply closet? Fidelity National reported that the personal data of as many as 8.5 million customers was taken by a senior database administrator at the company. The company suggested that this number, up from initial reports from Fidelity of 2.3 million, [...]

The SEC announced the settlement of a civil lawsuit against an employee of IBM for aiding Dollar General Corporation’s accounting fraud. The final judgment ordered Kevin B. Collins to pay $95,000 for his role in assisting Dollar General’s violations of various SEC codes.
Collins allegedly proposed to Dollar General to push forward a $10 million [...]

A federal grand jury has indicted a Alan B. Fabian, a Baltimore corporate executive, over allegedly running a scheme that made $32 million in false purchases of computer equipment.
According to prosecutors, Fabian’s alleged scheme defrauded his former employer, the government consulting company Maximus Inc., as well as an equipment leasing company called Solarcom.
Fabian has [...]

Home Depot confirmed yesterday that it terminated four purchasing managers nearly two weeks ago for allegedly taking over $1 million in kickbacks from suppliers.
Reportedly, the three lower-level managers were taking large bribes from flooring vendors out of Asia in return for featuring these vendors’ products in Home Depot stores.
Home Depot is cooperating with law [...]

A Long Island man pleaded guilty on Wednesday of conspiring to destroy a rival company’s product. Robert A. Schetty, III, 42, a vice president of Technic, Inc., coordinated an attempt to place hydrogen peroxide in a bath of chemicals used by rival company Rohm and Haas, Co. to test their new electroplating solution. [...]

Casino mogul Steve Wynn sued Lloyd’s of London this week saying the insurance company failed to act properly on his demands to pay $54 million in lost value for a Picasso that was damaged when Wynn accidentally poked a hole in the canvas with his elbow.
The lawsuit in U.S. District Court in Manhattan sought [...]