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September 05, 2003

* Cerus Corp. and Baxter International Inc. stopped a study of a blood-purifying system after finding antibodies in two patients. Shares of Concord, Calif.-based Cerus tumbled 31% to an all-time low of $5.29 on Nasdaq.

* A U.S. judge gave preliminary approval to a proposed settlement between Cigna Corp. and about 700,000 doctors who accused the health insurer in a class-action lawsuit of shortchanging them on payments. Under the settlement, Cigna would pay at least $85 million in cash to resolve outstanding claims.

* Gap Inc. hired former Sears, Roebuck & Co. executive Nicholas Severino as chief financial officer for its U.S. business. He succeeds Tom Cawley, who left Gap in June to become chief financial officer of Peet's Coffee & Tea Inc.

* Coca-Cola Co. lost its bid to dismiss a lawsuit by a former executive who claims he was fired after complaining that the company plotted to inflate its profit and defraud Burger King Corp.

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