Colo. woman sued over movie download
Twentieth Century Fox Film Corp. sued a Colorado woman Thursday for allegedly downloading and illegally distributing the movie “Alien vs. Predator.”
April Allen was one of two people – the other is from Oregon – sued by movie companies Thursday for allegedly swapping movies illegally online. She could not be identified or reached Thursday. Similar suits have been filed across the country but without naming defendants.
The Motion Picture Association of America said Thursday that the defendants were named in the new suits to send a message to Internet pirates.
Ball Corp. reporting third-quarter drop
Packaging manufacturer Ball Corp. reported a 22 percent drop in third-quarter earnings compared with the same quarter a year ago despite a slight increase in sales.
The Broomfield-based company posted earnings of $79.3 million, or 73 cents a share, compared with $101.7 million, or 90 cents a share, in the third quarter of 2004.
Adelphia asks judge to OK disclosure
Adelphia Communications Corp., the Greenwood Village- based cable operator, asked a judge to approve a disclosure statement before creditors vote on the company’s plan to exit bankruptcy by selling most of its assets to Time Warner Inc. and Comcast Corp.
U.S. Bankruptcy Judge Robert Gerber is overseeing the New York hearing, which is expected to take two days. About 200 creditors have filed objections to Adelphia’s 375-page disclosure statement.
Majestic Star Casino is losing its auditor
Majestic Star Casino said Thursday in a filing with regulators that Pricewaterhouse Coopers has declined to stand for re-election as the company’s independent auditor.
Las Vegas-based Majestic Star, which owns Fitzgeralds Casino in Black Hawk, said its audit committee has started looking for a replacement. In the filing, Majestic Star said the company did not have any disagreements over accounting principles with Pricewaterhouse.
Microsoft says profits increased 24 percent
Microsoft Corp., the world’s biggest software-maker, said first-quarter profit rose 24 percent after customers bought more Windows software for personal computers and servers. Sales this quarter may miss analysts’ estimates.
Net income rose to $3.14 billion, or 29 cents a share, from $2.53 billion, or 23 cents, a year earlier, when profit was hurt by legal costs, the company said in a statement. Sales gained 6 percent to $9.74 billion.
Groups get $651 million from WorldCom banks
A group of state and local retirement funds and insurance companies recovered $651 million from WorldCom’s investment banks, auditors and company officers announced Thursday in a settlement.
As part of the settlement, Citigroup and JPMorgan Chase & Co., two of the defendants in several non-class-action suits filed by the funds, agreed to jointly petition the Securities and Exchange Commission for more stringent disclosures by banks underwriting future stock and bond offerings.
Bristol-Myers may drop diabetes drug
Bristol-Myers Squibb Co. said Thursday that a diabetes drug it was touting as part of its turnaround may be abandoned because it will need about five more years of testing to answer questions raised by regulators.
The setback is also a disappointment for Merck & Co.. which was jointly developing Pargluva with Bristol-Myers.
Krispy Kreme seeking new chief executive
Embattled snack-maker Krispy Kreme Doughnuts Inc. launched a search Thursday for a new chief executive as the once-high-flying company confronts problems ranging from declining sales to lawsuits and criminal investigations.
Meanwhile, the company announced that Jeff Jervik has been hired as executive vice president of operations.
SEC names 2 deputies in enforcement wing
The Securities and Exchange Commission on Thursday named two new deputies in its enforcement division, a nod to the unit’s mounting caseload and its growing complexity. Peter Bresnan will oversee personnel, training and staffing of enforcement cases, while Walter Ricciardi will handle technology and financial systems.
AOL hires daughter of U.S. vice president
America Online Inc. has hired Mary Cheney, the daughter of the vice president, to a newly created position. Cheney will report to AOL vice chairman Ted Leonsis and assist in managing the advertising, e-commerce and search engines considered AOL’s core functions.
Sun Microsystems’ financial chief retiring
Sun Microsystems Inc., the world’s fourth-largest maker of server computers that run networks, said chief financial officer Steve McGowan will retire at the end of the fiscal year to pursue other interests.
