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Tag Archives: settlement

Cal-Maine records $26.1 million loss for quarter after settlement

By JACK WEATHERLY Cal-Maine Foods suffered a net loss of $26.1 million, or 54 cents per share, for the second fiscal quarter of 2018 in which the Jackson-based egg producer recorded a $52.8 million after-tax antitrust settlement. The settlement stems from a Sept. 25, 2008 consolidated suit case filed in the U.S. District Court for the Eastern District of Pennsylvania. Excluding ...

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BP appealing to have oil spill settlement administrator removed

NEW ORLEANS — BP is heading to a federal appeals court in its effort to oust the administrator of damage settlement claims arising from the 2010 Gulf of Mexico oil spill. The company filed notice yesterday that it plans to file with the 5th U.S. Circuit Court of Appeals in New Orleans. BP has long complained about Patrick Juneau’s administration ...

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Entergy expects drop in quarterly as-reported earnings compared to last year

NEW ORLEANS — Entergy Corporation expects third quarter 2014 as-reported earnings of approximately $1.26 per share and operational earnings of approximately $1.67 per share. Results for third quarter 2013 were $1.34 per share on an as-reported basis and $2.41 per share on an operational basis. The Utility posted another quarter-over-quarter of industrial sales growth, led by the Gulf region of ...

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Department of Mental Health doesn't ask for more state funding

JACKSON — Mississippi’s Department of Mental Health says it can use money it already has to comply with pledges to federal authorities to create more community living spots and spend more on housing. Yesterday, the department told lawmakers it doesn’t need more state money in the budget beginning July 1. The U.S. Department of Justice threatened to sue Mississippi in ...

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Drew Brees settles lawsuit alleging investment fraud

NEW ORLEANS — New Orleans Saints quarterback Drew Brees has settled a lawsuit with a former teammate who allegedly advising him to invest $160,000 in tax credits that turned out to be bogus, court records show. The suit filed on Brees’ behalf in federal court in 2013 alleged former Saints long snapper Kevin Houser, a licensed securities broker, mishandled the ...

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Judge: Businesses shouldn't repay oil spill settlement money

NEW ORLEANS — A federal judge has ruled that BP must stand by the agreement made with the companies it compensated for losses after the 2010 Gulf oil spill despite the oil giant saying some claims were overestimated. BP argued that a flawed funding formula enabled nearly 800 businesses to overestimate their spill-related claims. One construction company hundreds of miles ...

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Lawsuit settled involving state's cap on non-economic damages

JACKSON — The parties in a lawsuit challenging the constitutionality of a legislatively imposed cap on how much juries can award in non-economic damages say they have settled the case. Oral arguments had been set for tomorrow in Jackson before the Mississippi Supreme Court. The Supreme Court canceled the hearing and allowed the parties 90 days to finalize the settlement. ...

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State to receive $35M from settlement with Pfizer

JACKSON — Mississippi will receive $532,675 part of a $35 million settlement with a Pfizer Inc. subsidiary over the marketing of an organ-transplant drug. Mississippi and 41 other states are involved in the settlement with Pfizer, the parent company of Wyeth Pharmaceuticals Inc. The deal resolves allegations Wyeth misrepresented the uses of the drug Rapamune. A statement from Mississippi Attorney ...

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BP wants Supreme Court to toss part of oil spill settlement plan

NEW ORLEANS — BP PLC has asked the U.S. Supreme Court to throw out part of its settlement of claims for damage from its enormous oil spill in 2010 — a section saying businesses don’t have to prove that the spill directly harmed them to be eligible for payment, only that they lost money afterward and recovered in 2011. Claims ...

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