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New York University has called for sanctions against the NYU workers and attorneys behind a now-dismissed proposed class action alleging Employee Retirement Income Security Act violations, arguing in New York federal court that their suit had been an attempt to avoid unfavorable rulings in an earlier, identical case.
A company accused of profiting by pushing homeowners into foreclosure after the housing bubble burst should have to face claims that its alleged actions violated the Employee Retirement Income Security Act, and companies that helped or watched should too, a pension fund told a New York federal judge Wednesday.
The U.S. Department of Justice’s criminal claims that General Motors Co. committed wire fraud and made false statements related to a deadly problem with ignition switches were officially dismissed in New York federal court Wednesday after three years of oversight following a $900 million deal.
A New York federal court on Tuesday granted certification to a class of Inovalon Holdings Inc. investors that allege the technology company filed a prospectus ahead of its initial public offering that misled investors regarding the company's revenue stream, while also dismissing some claims on the grounds that the shares were not purchased during the offering.
The liquidators of a bankrupt Cayman Islands-based investment advisory firm Tuesday asked a New York bankruptcy court to begin Chapter 15 proceedings, saying they need to act to find and protect the U.S. assets they believe the firm has.