Lawyers for Subramanian Krishnan and the U.S. Securities and Exchange Commission reached a “tentative settlement,” which must be approved by the SEC in Washington, D.C., a process that can take several months, before being sent to a judge for approval.
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Chad Arthur Anderson received a five-year sentence, while Troy Allen Huston was sentenced to four years and nine months; their fraud scheme involved 32 Minnesota properties.
Frank Vennes struck a plea agreement just days before he was scheduled to go on trial; he faces up to 15 years in prison.
The Mosaic Company’s share of the settlement, which requires court approval, is $43.75 million; none of the companies admitted wrongdoing.
Barbara Kaye Rechtzigel, former senior operations manager at Minnwest Bank in Marshall, embezzled money for her personal use, primarily to pay off shopping debts.
The Litchfield-based egg producer said several individuals were detained on “administrative charges,” which are reportedly used in cases when people are suspected of immigration violations.
U.S. Bancorp said that its portion of the $8.5 billion settlement includes $80 million in cash and about $128 million in mortgage assistance services; Wells Fargo, meanwhile, will pay $766 million in cash.
Jason “Bo” Beckman was given the harshest sentence of three co-defendants, receiving 30 years in prison; Patrick Kiley’s sentencing, meanwhile, was moved to a later date.
TechForward accused Best Buy of stealing its concept for a buy-back program; Best Buy said it “completely disagrees” with the size of the award in the case and plans to “vigorously challenge this verdict.”
Aetrium recently declared a proxy vote moot because a group of dissident investors was unable to establish a quorum; the investor group is now suing the company and accusing its directors of a “gross violation of shareholder rights.”
Ken Cutler, who joined the firm almost 40 years ago, will serve a three-year term as managing partner; he succeeds Marianne Short, who’s leaving for UnitedHealth Group on January 1.
In addition to her prison sentence, Cynthia Jacobsen was ordered to pay $1.04 million in restitution.
Dorsey & Whitney Managing Partner Marianne Short is leaving the firm at the end of this year to join UnitedHealth Group as chief legal officer.
A new lawsuit reportedly accuses the bank of turning a blind eye to Tom Petters’ fraud; BMO Harris Bank, which acquired M&I, denies the claims.
A U.S. Senate Finance Committee report based on thousands of documents from Medtronic adds to the controversy surrounding the company’s bone-growth product Infuse, but Medtronic said that it “vigorously disagrees” with the committee’s claims.
The State of Minnesota and law firm Covington & Burling, LLP, are appealing a recent decision that barred the firm from representing the state in a suit against 3M.
Minnetonka Moccasin said Target began selling shoes with “a beaded thunderbird design nearly identical” to its own design after the Minnetonka company passed on an opportunity to sell its products in Target stores.
Prince pays his property taxes . . . eventually.