Oracle Corp. has reached a settlement with patent-holding company Round Rock Research in a Texas patent infringement suit. The company also negotiated a licensing agreement as part of the settlement.
The SEC has announced that it will stop letting companies and individuals say they “neither admit nor deny” wrongdoing in a civil case when they admit to related criminal charges. A federal judge said he threw out a $285 million deal between the SEC and Citigroup in part because the settlement said that.
A split en banc panel of the 3rd Circuit has reinstated a $295 million class action settlement in an antitrust case against diamond wholesaler De Beers after an initial panel of the court found the two nationwide classes involved in the settlement were improperly certified.
One of the largest settlements drafted by the bankruptcy trustee for Scott Rothstein’s defunct law firm appears to have fallen through. Trustee Herbert Stettin filed court papers Wednesday terminating the settlement with feeder fund operator George Levin, valued at $10 million to $80 million.
For most of an hour-long hearing Wednesday, federal Judge Jed Rakoff pressed the SEC’s chief litigation counsel on the agency’s policy of entering into consent judgments with no admission by the defendant, and whether the judge had the power to reject the settlement as against the public interest.