Just a day after it inched one step closer to exiting Chapter 11 by securing $2 billion in exit financing, Dana Corp. was hit with objections to its joint reorganization plan from asbestos claimants and lead plaintiffs in securities litigation, among others.
A day after The New York Times Co. announced that it would be slashing 13 job positions from its newsroom, the labor union representing the employees is gearing up for negotiations to soften the blow.
The U.S. Securities and Exchange Commission's deputy director of enforcement has joined Simpson, Thacher & Bartlett LLP, where he will focus on building up the firm's government and internal investigations practice in Washington, D.C.
An $18 million settlement resolving a class action copyright lawsuit by freelance writers against a group of publishers has been set aside by a federal appeals court, which has ruled the Manhattan judge who approved the deal lacked jurisdiction.
A judge on Wednesday granted Northwest Airlines Corp. permission to pay the union representing its pilots about $1.6 million for work it performed in the company's bankruptcy case, after the union agreed to provide more information about its expenses and to slightly reduce the amount it had requested.
New York-based broker-dealer Rafferty Capital Markets LLC will have to pay more than $400,000 for allegedly failing to prevent late trading and deceptive market timing practices by its hedge fund customers.
Bankrupt diet bar maker Nellson Nutraceutical Inc. has received the go-ahead to spend some of its cash collateral as it looks to wind down its liquidation proceedings.
The U.S. Financial Industry Regulatory Authority announced on Wednesday that it has fined Wachovia Capital Markets $300,000 for allegedly violating FINRA's rules on disclosing research analysts' conflicts of interest.
The U.S. Federal Trade Commission agreed Tuesday to allow the Great Atlantic & Pacific Tea Co. to acquire Pathmark Stores Inc. for $1.3 billion but forced the companies to sell six of their stores before clearing the deal.
Bankrupt auto parts supplier Dana Corp. said Tuesday that it had procured $2 billion in exit financing, putting it in position to emerge from Chapter 11 by the end of January.
Solutia Inc. put to rest disputes with former parent Monsanto Co. over the use of the debtor's Chocolate Bayou plant in Texas and with Shell Chemical Co. over its claims in the bankruptcy when a judge approved the chemical makers' settlements.
Dana Corp. may have secured $2 billion in exit financing, but that did not stop the Indiana attorney general from protesting the bankrupt auto parts supplier's latest reorganization proposal amid fears that the plan will tie the hands of the state's environmental agency.
A judge has signed off on settlements between Calpine Corp. and a commodity arm of Goldman Sachs and on a deal with the first priority debt representatives of subsidiary Calpine Generating Company LLC.
Japan’s Elbex Video Ltd. has gained some ground from its appeal of a district court’s decision that Sensormatic Electronics Corp. did not infringe Elbex’s patent for closed circuit television systems.
The U.S. Court of Appeals for the Second Circuit has dealt Fordham University a setback in its discrimination battle with an executive secretary, ruling that her allegations of a hostile work environment merit further scrutiny.
Turmoil in the mortgage industry has been having an impact on law firms for months, according to the chairman of Thacher Proffitt & Wood. The law firm is taking steps to pare down its ranks because the securitization of mortgages is at a standstill.
Twelve states have launched a legal assault on the U.S. Environmental Protection Agency over new regulations allowing companies to limit public access to information about toxic chemicals they use, store and release into the environment.
A Fordham University law professor has been appointed to oversee discovery disputes in hundreds of consolidated product liability cases against Bausch & Lomb Inc. over a contact lens solution that allegedly causes fungal infections.
The U.S. government is asking a judge to fine a Greek shipping company $9 million and to ban its ships from entering American ports for up to five years, following the company's conviction for illegally dumping waste oil into international waters and lying about it.
Settlement negotiations between Pfizer Inc. and the Nigerian government have reportedly hit a roadblock in an ongoing case accusing the drug giant of carrying out illegal clinical trials that killed or disabled children.