The Sands Regent and Herbst Gaming Inc. have agreed in principle to settle a putative shareholder class action lawsuit, sidestepping a complication to the companies’ merger.
Former Cendant Corp. vice chairman E. Kirk Shelton, ordered to pay the company $3.27 billion in restitution, has not reached for his wallet fast enough. The real estate conglomerate has accused Shelton of transferring millions between bank accounts in an attempt to shield his assets in order to delay the massive payment.
As the options backdating scandal continues to widen, regulators and shareholders may soon set their sights on a new target: the attorneys and auditors consulted in the development and execution of executive stock options plans.
The U.S. Court of Appeals for the Second Court has remanded part of a lower court decision centering on whether the New York teacher certification process is racially discriminatory.
Already facing four shareholder lawsuits, IMAX Corp. has been hit by a fifth securities class action accusing the movie pioneer of issuing fraudulent financial statements.
A court order permitting bankrupt futures brokerage Refco Inc. to pay off $127.5 million in intercompany claims has raised the ire of the lead plaintiffs in a securities suit pending against the company.
A class action lawsuit filed against the Boeing Company on Monday alleges that one of the company’s divisions, Boeing Rotocraft, violated a collective bargaining agreement relating to lifetime retiree health care benefits.
A district court has signed off on a settlement between the New York Convention Center Operating Corp. (NYCCOC) and a class of current and former African-American and Hispanic employees who brought an action claiming the rampant racial discrimination at the convention center created a “hostile” work environment.
Less than a month after a federal appeals court ruled that International Business Machine Corp.'s cash-balance pension plan does not discriminate against older workers, the plaintiffs in the closely watched case are asking the court to reconsider its earlier decision.
Attorneys spent a second day in court Monday arguing over whether Apotex’ generic version of the blockbuster blood thinner Plavix should be allowed on the market.
Two insurance salesmen have lost a class action appeal against their employer, AXA Network LLC, that alleged the life insurance brokerage deliberately cheated them out of benefits by altering how insurance salesmen are classified as full-time employees.
Government-sponsored mortgage lender Freddie Mac has agreed to pay $4.65 million to settle charges that the company failed to provide accurate information to officials in charge of its employee 401(k) plan.
Cisco Systems Inc will shell out $91.75 million to settle a consolidated shareholder class action lawsuit that accused the company and some its directors and officers of securities fraud, the company said Friday.
A stipulation in the class action antitrust settlement penned between Florida consumers and Microsoft Corp. has scored the state’s school system $80 million in technology funding from the computer giant.
Already facing a mountain of litigation, Par Pharmaceutical Companies Inc. has been hit with another class action lawsuit that accuses the pharmaceutical giant and its top executives of committing securities fraud.
Franchise owners of gas stations and convenience stores of Speedway SuperAmerica LLC have filed a class action lawsuit against the company and its oil company parent, alleging they are fixing prices for credit and debit card processing services.
A lawsuit seeking class action status has accused three private companies administering Georgia’s Medicaid system of neglecting to pay millions of dollars in remaining claims to doctors, hospitals and other health care providers.
A class action suit levied at fine jewelry retailer Zale and some of its officers and directors on Tuesday claims that some of the company’s financial documents may not be as real as its diamonds.
Four major airlines have been hit with yet another class action antitrust suit, this one alleging they conspired to raise and fix ticket prices by adding higher fuel charges to ticket purchases.
Facing criminal charges stemming from an investigation into options backdating, former Comverse Technology CEO Jacob “Kobi” Alexander has fled the country, and is now considered a fugitive by the U.S. government.