GFM Network News

MF Global officials settle lawsuit for US$64.5M

New York | Reuters — Jon Corzine and other former MF Global Holdings officials have reached a US$64.5 million settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage’s 2011 bankruptcy. The all-cash settlement with Corzine, who was MF Global’s chief executive and previously New Jersey’s governor, and nine […] Read more

U.S. court upholds FDA animal feed policy despite health concern

Reuters — A divided federal appeals court on Thursday upheld a U.S. Food and Drug Administration policy allowing the use of various antibiotics in animal feed, even if such use might endanger the public health. Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in New York said the FDA was empowered […] Read more

U.S. packer suing ABC News over ‘pink slime’ reports

ABC News was hit with a US$1.2 billion defamation lawsuit Thursday by a South Dakota meat processor that accused it of misleading viewers into believing a product that critics have dubbed "pink slime" was unsafe. Beef Products Inc. (BPI) sued over ABC reports aired in March and April about the nation’s largest producer of "lean […] Read more