Johns Hopkins University has reached an agreement to shell out more than $1 million to financial aid education programs following an investigation by the New York Attorney General’s Office into anti-competitive student loan activities at the university.
Attorneys general in 32 states across the U.S. have banded together to submit a plea to the Supreme Court to “support a healthy securities market” and hold liable accountants, banks, lawyers and others who engage in sham deals that are aided by a company's accounting fraud.
An Italian judge on Wednesday ordered Citigroup, UBS, Deutsche Bank and Morgan Stanley and 13 of their employees to stand trial for market manipulation charges related to the multibillion-dollar implosion of Parmalat SpA, which the dairy giant blamed on its financial partners.
A judge on Monday approved an agreement between formerly bankrupt media company Granite Broadcasting Corp. and a group of shareholding investment funds which had appealed the company's reorganization plan.
A U.S. Trustee has objected to New Century's bid to hire Grant Thorton LLP as a tax accountant and ICP Consulting LLC as a liquidation advisor, saying that engagement letters with the firms contain provisions that courts have previously not allowed.
New Century Financial Corp.'s implosion has claimed another victim, with the co-founder and chief executive of the subprime mortgage lender becoming the most recent employee to be forced out of the company.
Deloitte Touche Tohmatsu has asked a judge to stop plaintiffs in a securities fraud class action from using testimony or reports from the Parmalat SpA chief executive's experts as evidence in the multidistrict litigation stemming from the dairy giant's plunge into bankruptcy.
A New York judge has ordered two shareholders to suspend their lawsuits against Puerto Rican mortgage lender Doral Financial Corp. until the court rules on a proposed $129 million settlement with plaintiffs in two securities actions.
Discover Financial Services Inc. plans to withdraw some of its allegations against Visa USA Inc. and MasterCard Inc. in its antitrust suit, which accuses the card associations of wielding their market power to enforce anti-competitive rules that shut out Discover from participating in the credit and debit card markets.
A Delaware state court denied a motion by former American International Group Inc. Chairman Maurice R. “Hank” Greenberg to countersue other executives at the company, including his successor Martin Sullivan, over an alleged payout scheme involving one of his companies.
Fiberlock Technologies Inc. has moved to dismiss an insurance company's lawsuit against it for alleged negligence related to the property damage at 7 World Trade Center on and following the terrorist attacks of Sept. 11, 2001.
A massive lawsuit brought by creditors and shareholders of bankrupt Adelphia Communications Corp. against 380 lenders allegedly involved in the company's disintegration will continue in court, after a bankruptcy judge refused to dismiss it on Monday.
Morgan Stanley Dean Witter & Co. has agreed to pay $4.4 million to settle a class action over allegedly fraudulent metals transactions, according to papers filed in Manhattan federal court Monday.
The U.S. Department of Justice has given the green light to the merger of two banks in central Illinois, so long as they sell off five branch offices that hold about $110 million in deposits.
Three men and their companies have been permanently barred from committing future securities law violations and ordered to pay nearly $14 million for allegedly defrauding investors out of $32 million through a nonexistent bank trading program.
Bankrupt subprime lender Ownit Mortgage Solutions Inc. has convinced its unsecured creditors committee and the U.S. Trustee overseeing its Chapter 11 proceedings to agree to extend Ownit's exclusive rights to file and seek support for a restructuring plan by about four weeks.
Fearing a “flood of collateral litigation” that could send it into bankruptcy, Puerto Rico's largest mortgage lender, Doral Financial Corp., has urged a New York court to stop shareholders from pursuing parallel claims until final approval is granted for a proposed $129 million settlement of two securities fraud lawsuits.
True to his word, Mississippi Attorney General Jim Hood has slapped State Farm Fire and Casualty Co. with a lawsuit, accusing the insurer of reneging on a settlement deal involving thousands of Hurricane Katrina policyholder claims.
Ameriquest Mortgage Co. filed a motion Monday in New Century Financial Corp.'s Chapter 11 proceedings requesting relief from the automatic stay in order to pursue an action against a couple who defaulted on an Ameriquest loan.
NYSE Regulation Inc. said Monday that it had fined investment firm J.J.B. Hilliard, W.L. Lyons Inc. $1 million for allegedly selling unregistered securities through a private placement that didn't qualify for an exemption.