Also
* A legal assistant who tried to sell the trial strategy of plaintiffs suing cigarette makers to tobacco industry lawyers was sentenced to 21/2 years in prison. Said Farraj, 28, a former paralegal at the New York office of Orrick, Harrington & Sutcliffe, pleaded guilty in October to conspiracy to commit wire fraud and interstate transportation of stolen property.
Orrick Harrington is one of several law firms that represented the Manville Personal Injury Settlement Trust, which paid out more than $1 billion in claims by asbestos workers.
The trust sued the tobacco industry to recoup a large portion of the funds, alleging that cigarette makers concealed information that smoking heightened health risks to asbestos workers.
* McKesson Corp. said it named Chief Executive John Hammergren as chairman to succeed Alan Seelenfreund, who is retiring effective July 31. Seelenfreund has been chairman of the San Francisco-based drug wholesaler since 1989. He served as CEO from 1989 until 1997.
* Beazer Homes USA Inc. agreed to buy Crossmann Communities Inc. for $498 million in cash and stock to form the sixth-largest U.S. home builder and expand into the Midwest. Beazer also will assume $104 million of debt in the deal that values Beazer at $46.11 a share. Beazer’s shares closed off 30 cents at $81.20 on the NYSE. Crossmann’s shares rose $14.25 to $44.48 on Nasdaq.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.