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Focuses on a growing practice in the United States where small companies, armed with a broad patent or two, sue larger companies for patent infringement. Example of Douglas Fougnies and Larry Day, who sue cell phone companies for patent infringement; Amount awarded to Fougnies and Day for damages from Boston Communications Group Inc. and four other companies over alleged misuse of a 1998 patent; Reasons why hedge funds and other institutional investors are financing companies that buy up patent portfolios; Comments from Paul Tobin, founder and chairman of Boston Communications, regarding individuals like Fougnies and Day, whom he calls "patent trolls"; Other examples of patent infringement involving Microsoft Corp. and Research In Motion Ltd.; Lawsuits filed by Acacia Technologies, which has acquired 120 patents in areas ranging from credit-card fraud protection to hearing aids.

Reports that Morgan Stanley must pay billionaire financier Ronald Perelman $1.45 billion in punitive and actual damages after a Florida state-court jury ruled that Morgan Stanley had behaved improperly when Perelman sold one of his companies to Sunbeam Corporation. Background on the civil lawsuit and total damages awarded to Perelman; Background on Perelman, chairman of cosmetics giant Revlon Inc. and legendary corporate raider; Focus on a number of senior executives at Morgan Stanley; Views of analysts; How the large verdict award comes at an awkward time for Philip Purcell, chief executive of Morgan Stanley, who has been facing a group of former executives who seek his ouster; Role of Judge Elizabeth Maass.

This section offers news briefs in the U.S. The U.S. Court of Appeals for the District of Columbia has reversed a ruling that would have transferred 17 Guantanamo Bay detainees to the U.S. S jury in Florida has ordered Philip Morris to pay $8 million in damages to the widow of a smoker who died of lung cancer. State officials said that Alaska Governor Sarah Palin must pay back taxes amounting to $18,000 in expenses she charged the state for living in her home instead of in the state capital.

The article reports on the decision of Italian bank Banca Ifis Spa to settle a compensation claim filed by dairy company Parmalat SpA. Parmalat filed a case against the bank related to its bankruptcy at the end of 2003, claiming damages and other actions. Parmalat noted that a New Jersey court again denied a motion by Citigroup Incorporated's Citibank to dismiss the claims filed by Banca Ifis.

Reports that an independent consultant has found that improper share trading at Putnam Investments shortchanged investors by as much as $100 million. The amount which is 10 times the previous estimates of damages; Settlement of Putnam in 2004 in which the company agreed to pay $110 million in penalties to settle the charges, including $25 million in restitution; The deal which allowed the figures to be adjusted following a final tally of investor damages; Possibility the company could owe an extra $75 million.

This article discusses "appeal-bond caps" which legally protect cigarette makers from massive suit settlements. State legislation in favor of the caps; How they work; State funding; Criticism from health advocacy groups.

Focuses on the efforts of European auditing firms to cap the liability awards they will be forced to pay out for their role in faulty auditing. Recent accounting scandals that will make legislative efforts to cap auditor liability difficult; Standards related to capping liability that are being considered by the British Department of Trade and Industry; Comments from Jeremy Jennings, global director of regulatory and government relations for Ernst &Young Global, regarding existing caps in Germany and Austria; Excerpt from a paper written by the American Assembly, a public-policy group based at Columbia University, calling for the U.S. Securities and Exchange Commission (SEC) and the Public Company Oversight Board to protect accounting firms from lawsuits.

Focuses on potential litigation and liability facing International Flavors & Fragrances Inc. (IFF) after a $20 million civil judgment against the company. Details of the case against IFF, in which workers are charging the company's butter-flavoring mixture caused damage to their lungs; Number of workers at a popcorn factory in Marion (Ohio) that have sued IFF citing similar charges; Reaction from IFF to the decision, suggesting it provides buyers of its product safe-handling instructions; View of legal experts regarding the awarding of actual damages; Assessment of IFF, suggesting it is not big enough to survive verdicts like this without material damage.

Focuses on the insurance payouts related to the September 11, 2001 terrorist attacks. Details of a fax sent by Silverstein Properties Inc.'s risk manager, Robert Strachan, to a lawyer at a government agency, which may limit the payout to the firm, which lost four workers in the terrorist attacks; Scribbled notes made by Strachan, suggesting Silverstein may not get what they are looking for in compensation damages; Claims made by Larry Silverstein regarding the attacks being two separate occurrences; Speculation about Silverstein's future role in the rebuilding of Ground Zero based on the outcome of his case; Discussion of the insurance trial involving Silverstein Properties and Swiss Reinsurance Co.

Reports that Wall Street firms are preparing to pay to resolve alleged stock-research abuses. Observation that most of the payments will be tax-deductible for the companies; Portion of the payments which will go toward investor restitution, education, and the dissemination of independent stock research; Ability of the firms to use payments from the accord to offset taxable earnings and lower their tax bills; Perception that taxpayers will be funding the settlement.

Reports on the ruling of a United States federal district court stating that Unocal Corp. could collect damages for gasoline patent violations by a group of four oil refiners.

Reports on a legislative proposal clarifying the taxation of damages received on account of physical injuries or sickness. Provisions of the bill; Speculation on Congress' approval of the bill.