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Chicago law firm Corboy & Demetrio said on Tuesday it filed a lawsuit against electric carmaker Tesla Inc alleging that its 2014 Model S sedan had a defective battery pack that caused the death of an 18-year old passenger in an accident last year.

Last May, a Tesla driven by Barrett Riley with passenger Edgar Monserratt Martinez crashed into a concrete wall and erupted in flames in Fort Lauderdale, Florida killing both the teenagers, according to the lawsuit.

Continue reading “Tesla sued for passenger death due to defective battery”

U.S. President Donald Trump said on Wednesday he has ordered a halt to federal disaster relief for California’s wildfires unless state officials involved in forest management “get their act together.”

“Billions of dollars are sent to the State of California for Forest fires that, with proper Forest Management, would never happen,” Trump wrote on Twitter, a day after western governors asked for greater federal investment in fire prevention.

“Unless they get their act together, which is unlikely, I have ordered FEMA to send no more money. It is a disgraceful situation in lives & money!” the president said, referring to the Federal Emergency Management Agency.

Continue reading “Trump to halt U.S. relief funds for California wildfires”

Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert’s $4.4 billion takeover bid, people familiar with the matter said, potentially spelling the end for the 126-year-old U.S. department store chain.

If Sears liquidates its assets, it would become one of the most high-profile victims in the wave of bankruptcies that has swept the retail sector in the last few years, as the explosion in online shopping exacerbates the fierce price competition facing brick-and-mortar stores.

In a stark contrast of the diverging fortunes of e-commerce firms and many physical retailers, Amazon.com Inc became the world’s most valuable company for the first time this week, reaching a market capitalization of close to $800 billion.

Continue reading “Sears to ask bankruptcy judge for approval to liquidate”

The U.S. Supreme Court on Monday handed a defeat to Merck & Co (MRK.N) by refusing to hear its appeal of a ruling that it had dishonestly obtained patent rights and could not collect a $200 million verdict against rival drugmaker Gilead Sciences Inc (GILD.O) in a dispute involving blockbuster hepatitis C drugs.

A jury awarded Merck $200 million in 2016 after finding Gilead’s Hepatitis C drugs Sovaldi and Harvoni infringed two of its patents, but a judge later ruled the patents unenforceable because of a pattern of misconduct by Merck including lying under oath by one of its in-house lawyers.

Merck had urged the Supreme Court to place limits on the doctrine of “unclean hands” that can prevent plaintiffs from winning lawsuits if they acted in bad faith.

Continue reading “Merck loses bid to revive $200 million Gilead verdict at U.S. high court”

The U.S. Supreme Court on Monday cleared the way for the attorney general of Massachusetts to obtain records from Exxon Mobil Corp(XOM.N) to probe whether the oil company for decades concealed its knowledge of the role fossil fuels play in climate change.

The justices declined to hear Exxon’s appeal of a ruling by the top court in Massachusetts holding that state Attorney General Maura Healey, a Democrat, had jurisdiction to seek records to probe whether the company misled consumers and investors.

Continue reading “U.S. top court rejects Exxon in climate change document dispute”