Federal regulators have settled a long-running civil suit accusing a former director of title insurer Fidelity National Financial Inc. of trading on inside information regarding the 2003 sale of online lender LendingTree Inc. to USA Interactive.
The U.S. trustee overseeing the bankruptcy of global phone and Internet service provider Primus Telecommunications Group Inc. has objected to the debtors' retention of Deloitte & Touche LLP, arguing that the accounting firm is not being hired to perform work related to Primus' ordinary course of business.
In a putative collective action against JPMorgan Chase & Co., a federal judge has given technical support staffers the go-ahead to present as evidence an e-mail the workers claim supports allegations that the financial giant denied them at least three years' worth of overtime pay.
A subsidiary of the PNC Financial Services Group Inc. has become the latest defendant to settle with TQP Development LLC in a lawsuit accusing nearly two dozen banks of infringing a patent related to an online encrypted data transmission method.
Customers of Bernard L. Madoff's defunct broker-dealer on Monday filed an involuntary bankruptcy petition against Madoff personally, having won a bid to try to force the disgraced financier into Chapter 7 despite opposition from parties including the U.S. Securities and Exchange Commission.
Numerous companies that offer prepaid gift cards and online payment options for customers — including Visa Inc., Bank of America Corp., Google Inc. and the Walt Disney Co. — have been sued by a patent-holding company that accuses them of infringing four of its patents for an electronic payment system.
A federal appeals court has revived a lawsuit against Ameriprise Financial Inc. over mutual fund fees after finding the lower court improperly applied the benchmark decision Gartenberg v. Merrill Lynch Asset Management Inc. to toss the case.
A federal appeals court has affirmed the dismissal of a purported class action brought by investment groups accusing energy company TXU Corp. and its former chief operating officer of misrepresenting details of a securities buyback program to tempt investors to sell back securities at a reduced price prior to the announcement of a dividend increase.
Patton Boggs LLP has added Lehman Brothers Holdings Inc.'s former chief legal officer to the firm's New York office to help businesses navigate significant financial regulatory changes expected to come out of Congress and executive branch agencies.
More than 80 former insurance agents for bankrupt insurance agency Brooke Corp. have sued the commercial lending arm of the company, alleging the unit engaged in civil fraud and racketeering in its loan origination and servicing business for independent franchise agents.
Former Stanford International Bank Chief Financial Officer James M. Davis reportedly may seek a plea deal with the U.S. Securities and Exchange Commission in an effort to mitigate civil and possible criminal charges stemming from his alleged role in an $8 billion Ponzi scheme, according to Davis' attorney.
After sending both potential bidders back to the drawing board, Polaroid Corp. has accepted a revised $72.6 million joint bid from Hilco Consumer Capital LP and Gordon Brothers Brands LLC, but the battle over who wins the bankrupt camera pioneer does not appear to be over quite yet.
The European Commission has launched an investigation into whether the Netherlands violated European rules for using state aid in its efforts to prop up Fortis Bank Nederland during the financial crisis by providing massive loans with too-low interest and overpaying for ABN Amro's Dutch banking operations.
The U.S. Securities and Exchange Commission on Wednesday asked the judge in its case against Bernard L. Madoff to put a stop to efforts by customers of Bernard L. Madoff Investment Securities LLC to force the disgraced financier into involuntary bankruptcy.
A judge has certified a class in a suit against NovaStar Financial Inc. alleging the one-time subprime mortgage lender caused millions of dollars in losses to workers' retirement accounts and breached federal laws by investing in its own struggling shares.
Fred F. Fielding, who served as counsel to President George W. Bush and also worked in the Reagan and Nixon administrations, has rejoined Morgan Lewis & Bockius LLP, the same firm where he got his start as a summer associate in 1963.
As a successor to failed thrift Washington Mutual Bank, JPMorgan Chase Bank NA is finalizing a settlement agreement with Zurich American Insurance Co. in a dispute over coverage for losses stemming from improperly underwritten loans from lender CMS Mortgage Services.
A judge has given partial victories to both sides in an $82 million lawsuit brought by M&T Bank Corp. against Deutsche Bank AG over securities whose value plunged with the subprime crash, ruling that the case will proceed while rejecting some causes of action.
A New Orleans law firm has filed a class action against State Street Corp., alleging the institutional money manager used funds from its clients' retirement plans to engage in reckless securities lending that lost the plans hundreds of millions of dollars over the past year.
A federal court has ordered British former hedge fund operator Glenn Manterfield to pay nearly $3 million in disgorgement and penalties for allegedly running a fraudulent hedge fund in Boston that cost investors at least $15 million.