Several former executives of bankrupt Sentinel Management Group Inc. have agreed to pay a total of $10.7 million to end a $350 million suit alleging they perpetrated the fraud that brought down the capital management firm.
A pension fund has launched a putative class action against Downey Financial Corp. in the wake of the subprime mortgage collapse, alleging the bank's investment in mortgage-backed securities shrank its assets and devastated its credit.
The Seventh Circuit Court of Appeals rebuffed a group of clients of Harris Associates LP on Monday, upholding a lower court's decision that the firm's advisory fees for a group of mutual funds are not excessive.
A U.S. appellate court has ruled that trust account beneficiaries are preempted from filing class action state-law claims against Bank of America NA by the Securities Litigation Uniform Standards Act.
The Michigan attorney general is trying to get his state's retirement systems named as lead plaintiff in a proposed securities class action filed in the wake of Bear Stearns Cos.' collapse.
A judge has refused to grant a new trial to four former General Reinsurance executives and a former officer of American International Group who were found guilty earlier this year of manipulating financial statements.
A federal judge dealt a blow to Citigroup Inc. Wednesday, rejecting the bank's attempts to invalidate the plaintiffs' claims in the class action overtime suit launched by the bank's call-center employees.
A case that began as a squabble between Tremont Capital Management Inc. and a former executive before an arbitration panel has turned into a $2 million appeals court battle.
Wells Fargo Financial Inc. was hit Tuesday with another regional putative collective action overtime suit, one of many that have cropped up following a district judge's February decision not to certify a nationwide class in a wage-and-hour suit against the company.
The U.S. Financial Industry Regulatory Authority has fined three firms a total of $1.6 million for violations of FINRA’s Order Audit Trail System reporting and supervisory rules.
Hewlett-Packard Co. has won a $51 million judgment against a Philadelphia insurance company to cover costs it incurred defending an antitrust counterclaim lodged after a patent infringement suit over ink cartridges.
In a victory for shareholders of Countrywide Financial Corp., a California judge has refused to dismiss a class action filed against the troubled lender's officers and directors.
A recent decision in the five-year battle over class certification in the long-running initial public offering securities litigation granted in part and denied in part the defendants' motion to strike certain class allegations in 26 of the cases included in the consolidated suit.
A federal judge has granted final approval to a $40 million settlement putting to rest a group of consolidated securities class actions brought on behalf of investors who purchased securities of insurance company Unum Group.
Standard Charter Plc subsidiary American Express Bank Ltd. has filed a trade secrets suit against Credit Suisse, claiming to have videotaped a Credit Suisse representative carrying documents out the back exit of the plaintiff's office in Chile.
A former manager for mortgage lender Countrywide Financial Corp. and homebuilder KB Home has filed a whistleblower suit claiming he was fired after he questioned his employers' practice of granting loans to unqualified homeowners.
A Delaware appeals court has finally put an end to months of fighting between technology media company CNET Networks Inc. and its largest shareholder, JANA Partners LLC, ruling that JANA can nominate several new members to the company’s board.
VAALCO Energy Inc. has accused a New York-based hedge fund of conspiring with Swiss competitor Pilatus Energy SA to mislead investors in a scheme to infiltrate VAALCO's board of directors.
Clear Channel Communications Inc. and the private equity firms it sued for reneging on an agreement to buy it last year finally entered into a $17.9 billion deal, the radio operator said Tuesday.
A Florida appeals court on Wednesday reinstated a ban preventing Allstate Insurance Co. from selling new insurance plans in the state, lifting a stay on the suspension of Allstate's license that had been in place in allow Allstate to appeal the insurance commissioner's ban.