Chevron Foregoes Monetary Damages in Ecuador and 2 Other Dow Movers to Watch
Chevron Corp. (NYSE:CVX): Current price $122.08
Chevron announced Monday that it will not go after monetary damages against two plaintiffs in a racketeering lawsuit that it filed, alleging they committed fraud to win a $19 billion verdict in a pollution case in Ecuador. The trial is set to start in October in Manhattan, and the company also asked that it be conducted in two parts — one before a federal jury and, for the second phase, a judge. Chevron was ordered to pay up to $19 billion in compensatory and punitive damages for Texaco Inc.’s alleged dumping of toxic drilling waste in the Ecuadorean jungle from 1964 to 1992.
Hewlett-Packard Co. (NYSE:HPQ): Current price $22.30
Hewlett-Packard said that investigators in Poland have joined a probe by U.S. regulators into potential violations of the Foreign Corrupt Practices Act by the computer maker. A Monday regulatory filing revealed that the Polish Anti-Corruption Bureau, together with the U.S. Department of Justice and the Securities and Exchange Commission, are probing “public-sector transactions” involving an employee of Hewlett-Packard’s Polska division. The agencies are also examining “public-sector transactions” in Russia, Mexico, and other countries that were not identified, according to the filing seen by Bloomberg.
Cisco Systems Inc. (NASDAQ:CSCO): Current price $23.82
Thammasat University in Thailand has implemented an enhanced wired and wireless network to enable anytime, anywhere connectivity spanning two campuses. Employing Cisco Unified Access solutions within the Enterprise Networks architecture, the university will provide a network platform that can enable connected experiences and operational efficiencies for the school. The university is also among the first in Thailand to be completely IPv6 enabled.
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