The AM Roundup: Hacktivist Charges, Fake Drugs, Olympus

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Written By admin at Wednesday, March 7th, 2012

Hacked off: Federal prosecutors brought charges against a group of men allegedly behind “LulzSec” — a globe-spanning collective of computer hackers who wreaked havoc on companies, governments and individuals world-wide — after one turned government informant. WSJ

Fake drugs: Authorities investigating the importation of low-cost foreign pharmaceuticals into the U.S. have identified a supply chain that may have allowed fake cancer drugs to reach U.S. clinics, according to investigators and documents reviewed by the WSJ.

Charges sought: Japan’s securities watchdog requested the indictment of Olympus Corp. and six individuals allegedly involved in the company’s $ 1.5 billion accounting scandal. The six individuals couldn’t be reached for comment. It couldn’t be determined if they had hired lawyers. Olympus said it takes the commission’s decision seriously and will continue to strengthen its corporate governance. WSJ

Grupo’s new look: With new counsel from Simpson Thacher, Grupo Mexico is trying to wipe out a $ 1.9 billion judgment against it and a $ 305 million attorney-fee award. AmLaw (sub req)

Obscene: The Justice Department’s drive to enforce federal obscenity laws faltered Tuesday as a jury in Los Angeles was dismissed after being unable to reach an unanimous verdict in the prosecution of a producer and distributor of bestiality and fetish videos, Ira Isaacs. Under the Radar

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