Virginia Businesses in the News


Legal and Regulatory

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

BearingPoint Inc., a business advisor and systems integrator based in McLean, is facing a class action lawsuit brought on by the law firm of Cauley Geller Bowman & Rudman, a national law firm based in Florida, representing investors and consumers, alleging the defendants violated sections of the Securities Exchange Act of 1934 regarding the company's financial performance. (PR Newswire)

Maersk Sealand, a Danish liner shipping company, plans to build a $400 million marine terminal on the Elizabeth River in Portsmouth for a new class of huge deep-water cargo vessels. (The Virginian-Pilot)

MicroStrategy Inc. of McLean, a business intelligence software provider, won summary judgment dismissing a lawsuit brought on by Business Objects of San Jose, Calif., accusing Microstrategy Inc. of patent infringement. (PR Newswire)

The Medical Society of Northern Virginia is among 19 medical societies who are signatories to the Cigna agreement preliminarily approved by a Federal District Court judge in Miami, providing meaningful change and improvement in the way Cigna will work with physicians nationally to ensure timely and proper payment and contracting procedures. (PR Newswire)

Northrop Grumman of Arlington, a global defense enterprise, plans to pay $60 million to settle a lawsuit by the Department of Justice alleging its Newport News shipyard defrauded the government when billing the Navy for research and development costs and plans to pay $20 million to settle a Justice Department lawsuit charging another division with selling defective target drones to the military. (Daily Press)

Star Scientific of Chester, a smokeless tobacco product maker, emerged victorious when the FDA rejected a petition against the company alleging the Ariva lozenge is misleading to consumers, could appeal to children and should be classified as a drug. (Richmond Times-Dispatch)