A former Morgan Stanley branch manager has lost her appeal of a district court’s ruling in favor of the New York-based financial services firm that she accused of retaliating against her for making a sexual harassment complaint.
Overtime suits against financial services companies are taking on a special significance in light of the mortgage industry's recent troubles, said the attorney who filed a putative collective action lawsuit Tuesday against Advocate Mortgage Group Inc. on behalf of three former brokers.
A New Jersey-based hedge fund and its portfolio managers have agreed to pay $1.2 million to put to rest allegations brought by the U.S. Securities and Exchange Commission that the fund participated in unlawful PIPE transactions.
Standard Chartered Bank is seeking roughly $2.7 million from the reorganized Enron Corp. for claims against several former Enron subsidiaries. The claims were allegedly not resolved in 2005, when SCB agreed to release Enron itself from a debt of $24.5 million.
An appellate court has vacated part of a district court’s decision to grant summary judgment to a court-appointed receiver of a defunct financial services company after the lower court ruled that the company’s former CEO breached his fiduciary duty.
A suit the U.S. Securities and Exchange Commission filed last year against the two owners of a benefit counseling service and insurance agency for their alleged investment Ponzi scheme has ballooned into criminal charges of mail fraud and lying to the agency, the SEC said Thursday.
Merrill Lynch & Co. Inc. has sued the unidentified person who allegedly sent racist e-mails to black brokers at the company from the account of a Merrill Lynch manager for causing "irreparable damage" to the prominent bank's trademark and prestige.
New York Attorney General Andrew M. Cuomo has slapped First American Corp. with a lawsuit for allegedly colluding with Washington Mutual Inc. to inflate the appraisal value of homes.
A district court judge has once again refused to alter or overturn his decision to chuck the lawsuits of two bankrupt Parmalat SpA subsidiaries against six of the Italian company's former financial partners.
Another former vice president of home lender Countrywide Financial Corp. has settled insider trading charges, agreeing to pay the U.S. Securities and Exchange Commission a total of $109,000 to bring an end to the suit.
Several lawsuits accusing Sterling Financial Corp. and former officers of lying to investors in order to inflate the company's stock price in violation of U.S. securities laws have been consolidated in the U.S. District Court for the Eastern District of Pennsylvania.
A handful of investment banks and hedge funds are seeking to have Delta Airlines Inc.'s reorganization plan revoked, alleging the airline understated claims against subsidiary Comair Inc. by $250 million to ensure approval of the plan and to pave the way for a possible sale of the regional operator.
American Home Mortgage Holdings Inc., joined by Bear Stearns Cos., has been sued in the nature of interpleader by its securities administrator Wells Fargo & Co., which wants the bankruptcy court to weigh in on which party it owes $1.8 million in mortgage-backed notes.
American Home Mortgage Holdings Inc. demanded Wednesday that Lehman Brothers Inc. return some $84 million in subordinated notes that the bankrupt lender claims rightfully belong to it.
A former top trader at JPMorgan Chase & Co. has accused his former employer of failing to live up to promises it made in order to coax him to turn down a job offer from a rival bank.
Two former home loan consultants have filed a putative collective action against Countrywide Home Loans Inc., claiming the nation’s largest mortgage lender denied overtime to a class of home loan consultants and other non-exempt salaried employees.
The Philadelphia Stock Exchange announced Monday that a court had approved a settlement with a class of shareholders that alleged the exchange diluted their shares by selling the majority of its equity to national securities brokerages without consulting them.
Three affiliates of bankrupt American Home Mortgage Holdings Inc. have accused Bank of America NA of reneging on swap agreements in which they are entitled to more than $25 million.
Wireless service provider MetroPCS Communications Inc. has filed a lawsuit against Merrill Lynch & Co., alleging that the financial services firm improperly invested nearly $134 million of MetroPCS cash reserves by making unauthorized high-risk bets connected to the subprime mortgage market.
Fewer than two months after filing for Chapter 11 bankruptcy, Spectrum Financial Group Inc. succeeded in changing its proceedings to a Chapter 7 liquidation.