Justice's MoArk investigation ends Land O'Lakes Inc., the Arden Hills agricultural cooperative, said the U.S. Department of Justice has closed its investigation of joint venture MoArk. The investigation, disclosed in April 2008, was looking into the pricing, marketing and sales activities within MoArk's former egg-products business, according to a filing with the Securities and Exchange Commission. MoArk divested its northeastern liquid and egg-products business in 2004, and the remainder of its liquid and egg-products business in 2006 to Golden Oval.
DOW JONES NEWS SERVICE
MoneyGram's chief financial officer quits MoneyGram International Inc., the St. Louis Park money-transfer company that raised $1.26 billion after losses tied to mortgage holdings, said Chief Financial Officer David Parrin has resigned. MoneyGram has begun a search for a replacement, the company said. MoneyGram said it will pay $2.3 million in severance, including $782,458 as salary severance and $1.56 million as bonus severance under the company's business incentive plan, according to a filing with the Securities and Exchange Commission.
NEWS SERVICES
Boston Scientific settles patent lawsuit Boston Scientific Corp. said it agreed to settle a patent suit filed by a New Jersey doctor over heart devices that had resulted in a $500 million court award. Boston Scientific said in a regulatory filing it will take a $50 million pretax charge against first-quarter earnings in connection with the settlement. The company didn't specify if that's the full amount it would pay Bruce Saffran for use of his invention related to stents, tiny mesh tubes used to prop open heart arteries after they've been cleared of fat.
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