A member of the accused band of insider traders led by Raj Rajaratnam of the Galleon Group has pleaded guilty to one count of securities fraud. [NYT]
California and 23 other states settle with pharm companies Abbott and Fournier for $23 million. The former sued the latter for "illegally blocking" cheaper generic drugs from reaching the market. [YubaNet]
An Oakland Police Department independent report blasts the "ineffective and poorly managed" manhunt for Lovelle Mixon, the man who ultimately shot and killed 4 OPD officers after a massive stand-off. [Oakland Tribune]
Pillsbury cuts first years' salaries. [ATL]
Protesters have rallied against 50 years-to-life sentences for two teens involved in a drive-by shooting in downtown L.A. The teens maintain they were passengers, and not shooters. [LAT]
Roman Polanski, the celebrated director who is accused of raping a 13-year-old girl over 30 years ago, has asked a Los Angeles judge to sentence him in absentia. [LAT]
A U.S. District judge has dismissed a lawsuit brought by the city of Baltimore, MD against Wells Fargo. The city claimed the bank caused millions of dollars in damage by engaging in racist predatory lending tactics. [SFGate]
— Cynthia Foster
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