Approval was granted Thursday for auto finance lender Centrix to sell its business, paving the way for the company to emerge from bankruptcy.
Two of the biggest opponents to Eurotunnel’s plan to restructure its €9.4 billion in debt have backed off their campaign, further clearing the path for the embattled channel operator to soon emerge from bankruptcy.
A federal appeals court affirmed a lower court decision Thursday that sent a former hedge fund manager to jail for nine years and ordered him to pay $21 million in restitution.
Mutual fund manager Kelmoore Investment Co. has agreed to pay $100,000 to settle allegations that it misled investors by grossly understating fees.
House legislators are expected to introduce a new bill to prevent commercial companies such as Wal-Mart Stores Inc. and Home Depot Inc. from creating and controlling their own banks.
A tiny company that provides disclosure services for the municipal bond market has filed a patent infringement lawsuit against a Texas financial reporting body, accusing it of violating technology that helps the market comply with regulatory rules.
A former Citigroup broker whose clients included disgraced WorldCom chief executive Bernard J. Ebbers has sued his ex-representative, Paul, Weiss, Rifkind, Wharton & Garrison LLP, claiming the firm cost him a bigger severance check due to a conflict of interest.
The Chicago Board Options Exchange filed a motion Tuesday to dismiss claims made by the rival Boards of Trade for the City of Chicago, arguing that only the Securities and Exchange Commission has jurisdiction over exchange membership rights.
Refco Inc.’s bankruptcy proceedings were among the most expensive in history, with the futures broker paying $145.3 million to professionals who worked on the Chapter 11 case, records show.
Big Four accounting firm Pricewaterhouse Cooper has once again been vindicated in court, after an appeals court affirmed an earlier decision dismissing a securities fraud suit filed against the company.
Richard Grasso, the former chairman of the New York Stock Exchange, said the legal costs of fighting a lawsuit challenging his departure pay from the stock exchange might top $100 million.
The former chief executive of government-sponsored mortgage lender Fannie Mae has asked an appeals court to throw out the case filed against him by the Office of Federal Housing and Enterprise Oversight, claiming the regulator is biased against him.
The European Commission is seeking public comment on financial auditors’ liability, a move prompted by the growing risk of litigation and dearth of available insurance for auditors.
The securities fraud trial of a former executive of a South Carolina mortgage lender got underway Wednesday, as prosecutors attempted to show that Ronald Sheppard was responsible for the biggest bankruptcy in state history.
A Canadian appeals court ruling in favor of RBC Dominion Securities Inc. investment advisors who joined rival Merrill Lynch Canada Inc. could make it easier for employees to join competing companies.
In a case that can have major implications over who pays bankruptcy attorneys’ fees, the U.S. Supreme Court heard arguments Tuesday on whether creditors can recover attorneys’ fees in federal bankruptcy cases.
A day after the New York Stock Exchange hit seven companies with a combined $2.8 million in fines for multiple trading violations, all seven have chosen to settle their shares of the penalty.
A former mutual fund trader at hedge fund Millennium Partners who was the first person to plead guilty in the 2003 investigation of the mutual fund industry has escaped a prison term thanks to his plea bargain with prosecutors.
In yet another setback for patent-holding company E-Pass Technologies Inc., a federal appeals court has cleared Visa International and other technology companies of charges of infringing patents for “smart-card” technology.
PNC Financial Services Group Inc. has settled a suit regarding 16 interactive call-processing patents owned by Ronald A. Katz Technology Licensing LP.