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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Briefcase

From The Associated Press

Shareholders sue Hecla after closure

Some shareholders have sued Hecla Mining Co. for stock losses they endured after the federal government shut down the Lucky Friday Mine for safety violations.

The Bricklayers of Western Pennsylvania Pension Plan this week filed the lawsuit in federal court in Idaho against Hecla, which is based in Coeur d’Alene.

Hecla announced on Jan. 11 that the mine will be closed for a year to make the changes ordered by federal regulators after two miners died in separate accidents last year.

The lawsuit contends the closure caused Hecla’s stock price to fall 21 percent to $4.61 per share on Jan. 11 and that the company prior to that had made false and misleading statements that artificially inflated the price of its stock.

“Defendants lacked a reasonable basis for their positive statements about the company’s operations and its expected silver production,” the lawsuit said, accusing the company of fraud.

Officials for Hecla said the company’s comments on its financial prospects were appropriate and the company will defend itself.

The company’s stock has since rebounded to more than $5.30 per share.

EU asks time to study Google privacy policy

BRUSSELS – The European Union’s data protection authorities have asked Google to delay the rollout of its new privacy policy until they have verified that it doesn’t break the bloc’s data protection laws.

Google publicized its new privacy rules – which regulate how the Web giant uses the enormous amounts of personal data its collects through its search engine, email and other services – with much fanfare last week.

But its March 1 launch date may now be threatened.

In a letter to Google chief executive Larry Page, Jacob Kohnstamm, the chairman of the group of 27 national privacy regulators in the EU, said the French data protection agency has launched an investigation into the new rules and how they will affect Google users in the EU.

Apple wins round in duel with Motorola

FRANKFURT, Germany – Apple Inc. has temporarily blocked Motorola’s attempt to have it withdraw several iPhone and iPad models from its Internet store in Germany, the latest twist in an extended legal duel over patents between the companies.

The sale of the devices was briefly halted after Motorola Mobility Holdings Inc. enforced a ruling it won against Ireland-based Apple Sales International Inc. from a court in Mannheim, Germany.

The court had earlier ruled that Apple should not be using Motorola’s mobile technology in the devices without a license.

Motorola moved to enforce the decision and Apple announced Thursday it was halting online sales. A few hours later, Apple said it had won a suspension from an appeals court in Karlsruhe.