NATION

NATION
Tyco files lawsuitsagainst former execs
NEW YORK -- Tyco International Ltd. sued its former chief executive officer, Dennis Kozlowski, and former chief financial officer Mark Swartz on Monday, charging the two made more than $40 million in "short-swing" stock trades.
Under Securities and Exchange Commission rules, the company is allowed to seize any "short-swing" profits made by corporate insiders who buy and then sell the firm's stock within a six-month period.
Kmart to restatefinancial statements
DETROIT -- Kmart Corp. will restate its financial statements for three prior fiscal years and the first two quarters of 2002 after problems were discovered as part of the company's review of its accounting practices.
Kmart said Monday the adjustments will likely decrease its net loss for the first two quarters of this year by less than $100 million. For fiscal years 1999-2001, taken as a whole, it likely will have a negative effect on earnings by nearly $100 million.
The previously reported net loss for that three-year period was roughly $2 billion.
Pharmacia shareholdersapprove sale to Pfizer
PEAPACK, N.J. -- Pharmacia Corp. shareholders voted Monday to approve the company's $56 billion sale to Pfizer Inc.
The vote comes on the heels of a Pfizer shareholders' vote Friday approving the transaction. When completed, the merger will make the world's biggest drug maker even bigger. The deal is expected to be completed by the end of the first quarter next year. Regulators are still reviewing it.
Associated Press