On Friday, Shares of Chevron Corporation (NYSE:CVX), lost -2.03% to $76.67.
Chevron Corporation has reached a settlement agreement with H5, a California-based e-discovery and litigation services firm. In the settlement, H5 has withdrawn its support from the litigation against Chevron in Ecuador and has assigned its 1.25 percent interest in the $9.5 billion Ecuadorian judgment to Chevron. In 2014, Chevron obtained court-ordered discovery from H5 for the company’s role in supporting and advancing the lawsuit led by Steven Donziger, which a federal judge found to be tainted by fraud.
“Chevron is happy that H5 has ended its association with this scheme,” said R. Hewitt Pate, Chevron’s vice president and general counsel. “Chevron is also happy that H5 has taken the further action of disclaiming any interest in the Ecuadorian judgment and relinquishing its interest to Chevron. It remains Chevron’s intent to hold accountable those responsible for what a federal judge found to be a fraud.”
H5 became involved in the case in 2009, supporting a variety of activities. It assisted enlist funding from Burford Capital Limited, a U.K.-based litigation funder, and James Russell DeLeon, a Gibraltar-based businessman. It also played an integral role in bringing the Patton Boggs law firm into the case to provide legal support. Burford, DeLeon and Patton Boggs have all since withdrawn their support from the fraudulent lawsuit and settled with Chevron. H5 also assisted Donziger’s team in responding to Chevron’s discovery related to the Cabrera Report, an Ecuadorian court-ordered damages report that a U.S. federal court later found was secretly authored by Donziger and Stratus Consulting, a Colorado-based environmental consulting firm. Stratus has also subsequently settled with Chevron.
Chevron Corporation, through its auxiliaries, engages in the petroleum, chemicals, and power and energy operations worldwide. The company operates in two segments, Upstream and Downstream.
Shares of CBS Corporation (NYSE:CBS), declined -2.03% to $42.92, during its last trading session.
CBS Corporation declared that Leslie Moonves, President and Chief Executive Officer, will take part in a question-and-answer session at Bank of America Merrill Lynch’s 2015 Media, Communications & Entertainment Conference in Beverly Hills, Calif., on Wednesday, September 9, 2015. The session will start at 12:00 PM, PT.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Networks, Publishing, and Local Broadcasting.
Finally, Abbott Laboratories (NYSE:ABT), ended its last trade with -2.42% loss, and closed at $43.07.
Abbott Laboratories declared positive one-year clinical results from ABSORB Japan, a multi-center, randomized trial comparing the safety and effectiveness of Abbott’s fully dissolving Absorb™ heart stent to XIENCE ®, Abbott’s market-leading, permanent drug eluting stent. The trial was conducted in 38 sites in Japan and enrolled 400 people with coronary artery disease, the most common form of heart disease. The results will be featured at a late-breaking session recently at ESC Congress 2015, an annual event of the European Society of Cardiology that brings together cardiologists from around the world, with the aim of reducing the burden of cardiovascular disease. In addition, the data was published simultaneously in the European Heart Journal.
Absorb is a first-of-its-kind device that functions like a permanent, metallic stent by opening a blocked artery in the heart, restoring blood flow and providing relief from symptoms of CAD. However, unlike a metallic stent, which permanently restricts vessel movement and limits future treatment options, Absorb is made of a naturally dissolvable material that leaves behind a restored vessel free of a permanent implant, with the potential to flex, pulse and dilate in response to various demands on the heart, based on people’s lifestyle and activities.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
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