Neil M. Barofsky, the federal prosecutor President George W. Bush nominated Friday to be special inspector general of the government's $700 billion bailout for the financial industry, likely will receive confirmation from the U.S. Senate by the end of the week, the Senate Finance Committee chairman said in a hearing Monday.
Harbinger Capital Partners Special Situations Fund LP is calling for a probe of a transfer of equity stakes held by a brokerage unit of Lehman Bros. Holding Inc. to a nonbankrupt affiliate in the days before the investment bank's collapse.
Before Belgian brewer InBev NV can proceed with the $42 billion takeover of Anheuser-Busch Co. Inc., it will be required to divest subsidiary Labatt USA, the U.S. Department of Justice has said.
Teva Pharmaceutical Industries Ltd. has agreed to drop two patents from an infringement suit against rivals Zydus Pharmaceuticals Inc. and Cadila Healthcare Ltd. over a patented process for making the key ingredient in the congestive heart treatment Coreg, but Zydus' invalidity and antitrust-related counterclaims for one of those patents remain in play.
Pfizer Inc. has sought a protective order limiting the scope of discovery by lawyers for asbestos victims who are fighting subsidiary Quigley Co.'s latest plan of reorganization.
A federal jury has sided against the Nassau County Police Department, ordering the agency to hand over $1 million to three female former detectives who allegedly experienced sexual harassment and discrimination at the hands of their fellow officers.
The seven top executives at Goldman Sachs Group Inc. will sacrifice their 2008 bonuses, saving millions as the investment bank and other beneficiaries of the $700 billion federal bailout of the financial sector face growing scrutiny over executive pay.
A former busboy at the New York City barbecue restaurant owned by pop singer Justin Timberlake has filed a proposed class action, alleging he was bilked out of overtime and tips.
An appellate court has remanded a shareholder class action against insurer Hartford Financial Services Group Inc. over kickbacks it allegedly paid to insurance brokers, vacating an earlier decision by a district court to dismiss.
Bankrupt department store chain Mervyn's LLC wants a court's approval to sell off its remaining retail property leases as part of its planned liquidation.
Investors will get another chance to bring a class action suit against bond insurer MBIA Inc. over alleged accounting misdeeds that allowed the company to avoid reporting a $170 million loss, a federal appeals court has ruled.
The judge overseeing a case accusing major financial services companies of breaching their fiduciary duties by sweeping billions of dollars of their clients’ uninvested money into low-interest bank accounts controlled by the firms has denied the plaintiffs' request to begin discovery in the case.
A federal judge who last month granted summary judgment in favor of a division of State Street Co., finding that it was not responsible for $550 million in losses stemming from the liquidation of a British Virgin Islands-based hedge fund, has denied a motion by the plaintiffs in the case seeking to have the ruling overturned.
An appeals court has upheld an order granting more than $267,000 in severance pay and benefits to U.S.-based union workers who were permanently laid off in 2006 from then-bankrupt Brazilian airline Varig S.A.
Citing a want for mediation, a judge has stayed the claims against General Reinsurance Corp. and its former CEO and former senior vice president in a securities class action brought with regards to alleged bid-rigging scheme and the dissemination of false and misleading statements at American International Group Inc.
Firms continued to devour dissolving firm Thelen this week, swallowing up whole practice groups and impressive numbers of attorneys.
The U.S. Supreme Court on Friday agreed to hear arguments to determine whether a judge's failure to recuse himself from a case in which he received a $3 million campaign contribution from one party violates the due process rights of the other, as petitioner Harman Mining Corp. has alleged.
A New York bankruptcy judge has granted a preliminary injunction prohibiting creditors from seizing, enforcing or executing liens or judgments against Alitalia's assets in the United States pending a hearing on its Chapter 15 petition.
Lehman Brothers Holdings Inc. is seeking a bankruptcy judge's approval for a deal that should allow the erstwhile Wall Street titan to unwind a book of business in Europe that consists of more than 1 million trading positions and billions of dollars worth of receivables.
Bankrupt polyester and plastics company Wellman Inc. has been given a green light to solicit creditors' votes on its reorganization plan, with Wellman warning creditors that it will go out of business if the plan fails to win confirmation.