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Attorney General Andrew Cuomo

Amgen sued over Anemia drug

Sun, 11/01/2009 - 15:56 by Ishita Sood

New York, November 1 -- Biotech giant Amgen Inc. was sued by 14 attorneys Friday for offering kickbacks to doctors in an attempt to increase the sale of its anemia drug, Aranesp.

Cuomo probes AIG counter-party payments

Fri, 03/27/2009 - 13:11 by Salinder Kumar

New York -- New York Attorney General Andrew Cuomo says he will look into whether American International Group Inc. improperly used U.S. funds to make some investors whole.

Cuomo, who is already investigating AIG payment of retention awards to executives in its financial products group, said Thursday he plans to subpoena the troubled insurance giant to get information about its credit-default swaps, The Wall Street Journal reported.

"CDS contracts were at the heart of AIG's meltdown," Cuomo said in a statement. "The question is whether the contracts are being wound down properly and efficiently or whether they have become a vehicle for funneling billions in taxpayers dollars to capitalize banks all over the world."

Cuomo presses Thain on Merrill bonuses

Tue, 02/24/2009 - 09:05 by Rakhi Kaptiyal

New York -- New York Attorney General Andrew Cuomo Monday asked a court to require former Merrill Lynch & Co. executive John Thain to testify about executive bonuses.

Cuomo filed a motion seeking the testimony after Thain refused during a deposition last week to disclose information on bonuses paid to individual Merrill Lynch employees in 2008, the Financial Times reported Monday.

"I don't want to have him sued by the company for their saying he's violating someone's privacy," Thain's attorney, Andrew Levander, told prosecutors.

Cuomo said in court papers Merrill Lynch set up a $3.6 billion bonus pool Dec. 8, and then did not adjust the amount accordingly as the company's pre-tax operating losses topped estimates by $7 billion, the Financial Times reported. Fourth quarter pre-tax operating losses amounted to $21 billion.