Ian Thoms

Japanese police raided the Tokyo offices of Olympus Corp. on Wednesday, searching for evidence related to an admitted accounting fraud in which the camera and medical device maker concealed at least $1.7 billion in losses through exorbitant advisory fees paid on costly acquisitions.

A California federal judge on Friday dismissed a $300 million proposed class action claiming Immersion Corp. and several of its current and former officers inflated the technology company's stock price by fraudulently recognizing inflated and fictitious revenue on sales of medical devices.

A Human Genome Sciences Inc. shareholder lodged a derivative complaint Wednesday against the biotech company's CEO and several other officers and directors, alleging they hid from investors the fact that lupus drug Benlysta caused an elevated rate of suicide among users.

An investigative panel on Tuesday cleared Olympus Corp.'s outside auditors — KPMG Azsa LLC and Ernst & Young ShinNihon LLC — of responsibility for the Japanese camera and medical device maker's admitted $1.7 billion accounting fraud, but declared five individual auditors culpable.

British antitrust regulators on Wednesday opened an investigation into health insurance company Simplyhealth Group Ltd.'s proposed $180 million purchase of Denplan Ltd., the largest dental insurance provider in the U.K.

A group of Illumina Inc. shareholders launched a putative class action Tuesday accusing the gene sequencing company and its board of directors of deciding to reject a takeover bid by drugmaker Roche Holding Ltd. based on bad advice from an obviously conflicted Goldman Sachs & Co.

The Royal Bank of Canada on Monday denied allegations that it engaged in a wash-trading scheme to reap tax benefits on hundreds of millions of dollars in stock, possibly setting up a trial against the enforcement-minded U.S. Commodities and Futures Trading Commission.

A Virginia federal judge awarded three whistleblowers $1.37 million on Wednesday for helping the government obtain a $6.85 million settlement from Universal Health Services Inc., which allegedly submitted fraudulent Medicare claims and provided poor psychiatric care to troubled teenagers at a now-defunct residential treatment center.

A California federal judge on Thursday trimmed long-running multidistrict litigation accusing WellPoint Inc., UnitedHealth Group Inc. and others of conspiring to underpay health care providers, dismissing Sherman Act and other claims after finding certain plaintiffs lacked standing.

Dick's Sporting Goods Inc. has agreed to pay up to about $15.5 million to settle a host of putative class actions claiming the company failed to pay overtime and other wages.