Rep. John D. Dingell (D-Mich.) voiced his support Wednesday for the Federal Energy Regulatory Commission in its turf war with the Commodity Futures Trading Commission over the enforcement of energy market manipulation, while the FERC chairman reasserted his agency's jurisdiction over alleged manipulator Amaranth Advisors LLC.
Bankrupt energy company Calpine Corp. will soon have another $144 million to pay off creditors, after a bankruptcy court approved the company's motion to liquidate certain senior note holdings.
Lawyers argued on Monday that holding former EPA administrator Christine Todd Whitman liable for telling New Yorkers that the air was safe post-Sept. 11, 2001, would set a precedent that could scare government officials into keeping quiet rather than risk saying the wrong thing in the wake of future disasters.
Pharmaceutical company Novo Nordisk Inc. has reached a settlement in a patent dispute with rival drug maker Pfizer Inc. over the diabetes treatment Exubera, the company said in a statement released late Monday.
Blackstone Group LP and two other financial powerhouses have won their battle to change the venue of a case accusing them of misrepresenting the value of bankrupt Winstar Communications prior to its sale to IDT Corp. for $42.5 million.
Midwest Air Group Inc., parent of Midwest Airlines, said Friday that its $450 million proposed acquisition by private equity group TPG Capital LP will not close until at least the end of January because the U.S. Department of Justice has asked for more time to consider the deal.
A judge ordered Lord Conrad Black on Monday to trade in his jet-setting life for six years behind bars as part of his criminal fraud conviction.
Unsecured creditors of Musicland Holdings Corp. have filed another wave of adversary cases against companies with claims against the bankrupt entertainment retailer in a bid to recover more than $3 million in allegedly fraudulent payments made before the company's Chapter 11 filing.
As more investors and consumers seek to recover losses stemming from the subprime mortgage crisis, major class action firm Bernstein Litowitz Berger & Grossmann LLP has spearheaded a new practice group focusing on subprime litigation.
The subprime mortgage woes continue to take their toll on Merrill Lynch & Co. Inc. Just two days after being tied into a shareholder action, the company became the target of a purported ERISA class action brought by employees with company retirement plans.
Eight Citigroup Inc. employees have filed class action lawsuits against the financial services giant and its board of directors alleging that the company mismanaged employee pensions.
Tribune Co. has appealed the Federal Communications Commission's decision to grant the company exemptions from media ownership rules for a limited amount of time – an order that critics say actually gave the company more than it asked for.
Pillsbury Winthrop Shaw Pittman LLP has become one of only a few major firms to launch a practice group devoted exclusively to commodities finance. And the firm has hired finance lawyer Alexander Moon to help lead the group, it announced Monday.
A coalition of exchanges, brokers and market participants filed an amicus brief Monday arguing that the Federal Energy Regulatory Commission does not have the legal authority to prosecute price manipulation claims against defunct hedge fund Amaranth Advisors.
American Express Co. and merchants that sued over its alleged illegal tying and anti-competitive pricing faced off before the Second Circuit on Monday over arbitration clauses in the company's contracts that forbid collective action by some of its merchants.
The latest casualty of the $430 million fraud scandal at bankrupt Refco Inc. is the company's general counsel, Dennis Klejna, who has reached a $7.6 million settlement with shareholders that accused him of complicity in the scheme that felled the futures broker.
With an overwhelming majority of unsecured creditors throwing their support behind Dana's reorganization plan, the beleaguered auto supplier is on the brink of emerging from Chapter 11.
A group of banks has filed objections to M. Fabrikant & Sons Inc.'s Chapter 11 liquidation plan, arguing that it does not adequately address the banks' rights to recover defense costs stemming from an adversary case filed in October.
A bankruptcy judge has refused to grant the lead plaintiff in a consolidated securities class action suit against New Century Financial Corp. access to documents relating to the bankrupt subprime lender’s alleged accounting fraud.
Investment bank UBS has become the third major bank to disclose a multibillion-dollar write-down due to the deterioration of the subprime market, continuing a trend that could mean trouble for banks in both the markets and the courtroom.