Trouble: New York law firm Bivona & Cohen has filed a pre-emptive suit against a secretary who it claims is demanding $9 million to drop rape and sexual harassment charges against one of the firm’s partners, reports the New York Law Journal via Law.com. The firm says the secretary’s claims are false.
Genentech Ruling: In a long-awaited, unanimous ruling, the California Supreme Court threw out $200 million in punitive damages yesterday in the contractual dispute between Genentech Inc. and the City of Hope National Medical Center, reports The Recorder via Law.com.
Rumors: The Securities and Exchange Commission has sued a trader for spreading false rumors about the buyout of Alliance Data Systems, reports the NYT’s DealBook.
Microsoft: Microsoft reported an 11 percent decline in its third-quarter net income, and remarks from the company’s chief financial officer downplayed prospects of completing the Yahoo takeover, reports the WSJ.