In the News: September 4

A New York appellate court has reversed a $158 million judgment that Merrill Lynch won against Allegheny Energy. A trial court had ordered Allegheny to pay the full purchase price of a subsidiary it purchased from Merrill in 2001; Allegheny claimed that Merrill had misrepresented the business and that it would not have agreed to that price if Merrill had been straightforward.

A “paid escort” has been fired by Britain’s McKenzies Escort Service for “breach of contract” after she broke company policy by discussing details of a four-hour sex spree she had with members of the Manchester United football team with a daily newspaper.

Accounting firm KMPG is facing a class action suit in Canada by workers claiming breach of contract and statutory violations over the company’s overtime policies.

The cricket situation is heating up in New Zealand, as 18-year-veteran Chris Harris — star of the Canterbury team — seems poised to jump to a new rival league

IBM is claiming victory in a massive breach of contract and copyright action brought against it by SCO Group over claims relating to the Linux operating system.

[Frank Snyder]