Cobalt case

Irving Stitsky, who de frauded more than 250 people in a $23 million real estate investment scam stemming from a network of companies named Cobalt, was sen tenced to 85 years in federal prison.

ISM falls

The Institute for Sup- ply Management said its index of service sector activity fell to 53.8 from 55.4 in May — its slow est pace since February.

Tesla stalls

Tesla Motors, which boasted a $260 million IPO, fell below the $17 price its shares sold for last week — losing 16 percent to $16.11 on the Nasdaq.

Microsoft suit

Attorneys represent ing 23 states involved in a class-action lawsuit against Microsoft Corp. have filed a lawsuit over attorney fees against the Iowa lawyer, Roxanne Conlin, who spear headed a $179.5 million settlement with the soft ware company.

Short circuit

Shares of Anadarko Petroleum were the lat- est to trigger the NYSE’s new single-stock circuit breaker rules yesterday as an erroneous trade for $99,999.09 was quickly erased from the records.