The U.S. Securities and Exchange Commission on Friday sued Goldman Sachs Group Inc., alleging the investment bank played both sides in creating a collateralized debt obligation made up of mortgage-backed securities that was designed to fail, reportedly costing investors well over $1 billion.
The Supreme Court for the State of Oregon ruled Thursday that an employer is not required to accommodate an employee’s use of marijuana to treat a disability under the state’s anti-discrimination laws, bringing clarity to this hazy legal area.
Private investment firm Quadrangle Group LLC has agreed to pay $12 million to resolve investigations from the U.S. Securities and Exchange Commission and New York Attorney General Andrew Cuomo accusing the firm of participating in a widespread kickback scheme involving New York’s largest pension fund.
Lehman Brothers Holdings Inc. has filed a disclosure statement for its Chapter 11 plan, estimating that its unsecured creditors will receive up to 14.7 percent recovery, with unsecured creditors of some other Lehman units receiving more.
United Air Lines Inc. and US Airways are reportedly again thinking of tying the knot, a decade after antitrust enforcers rejected a merger between the two. But changes in the airline antitrust landscape over the last ten years might help give these two a second shot at making it legal, experts say.
The U.S. Department of Justice has admitted President Barack Obama was wrong when he said last year that the military's "don't ask, don't tell" policy weakens national security, according to court documents filed in a lawsuit challenging the policy.
Mazda Motor Corp. has reportedly recalled nearly 90,000 vehicles in Japan and China in order to fix an oil hose problem, marking the Japanese automaker's second recall in recent months.
The recent deadly blast at a Massey Energy Co.-operated mine has spurred sweeping action to address safety deficiencies at coal mines across the U.S., with federal lawmakers pledging to come down hard on companies that have shirked their responsibilities to keep workers safe.
The U.S. Securities and Exchange Commission voted on Wednesday to implement a new reporting system to track the effects of large traders on the increasingly complex securities exchanges and introduced rules aimed at promoting equal access to listed options.
A federal jury on Wednesday convicted Jeffrey C. Bruteyn, formerly the managing director of the now-defunct Dallas-based AmeriFirst Funding Corp. and AmeriFirst Acceptance Corp., on charges stemming from his role in fraudulent securities offerings.
U.S. Attorney General Eric Holder faced skeptical questions on securities, health care and competition issues at a Senate Judiciary Committee hearing Wednesday morning, with senators questioning whether the U.S. Department of Justice's enforcement efforts were strong enough.
Toyota Motor Corp. will temporarily stop selling the Lexus GX 460 SUV after Consumer Reports magazine urged readers not to buy the model due to a risk of rollover accidents.
The U.S. Department of Labor has discovered a glitch in the computer program it uses to screen mines, which caused it to fail to count eight safety citations at the Massey Energy Co.-operated mine where a blast killed 29 workers in West Virginia.
Goldman Sachs Group Inc., Barclays PLC and DRW Trading Group were the top bidders in an auction of Lehman Brothers Holdings Inc. assets that allegedly caused the bankrupt firm to lose $1.2 billion, the court-appointed examiner said Wednesday.
President Barack Obama said Wednesday that he was hopeful a bipartisan financial regulatory reform package addressing the root causes of the 2008 crisis could be passed within weeks, even as Democratic and Republican leaders continue to squabble over whether the bill will prevent future bailouts.
Cable provider Charter Communications Inc. said Wednesday it would issue $1.6 billion in new debt so two of the company's subsidiaries could buy back $1.57 billion in debt.
Following the financial meltdown, private securities litigation is endangered and securities regulators are hopelessly compromised, according to William S. Lerach, the disbarred securities class action powerhouse who recently completed a two-year prison sentence for taking part in a long-running kickback scheme.
With rumors flying about whom the White House will choose to fill the U.S. Supreme Court vacancy that will be left by Justice John Paul Stevens' retirement, President Barack Obama on Tuesday called for a bipartisan meeting to discuss his selection.
A federal appeals court has thrown out a $21 million jury verdict and reversed an injunction against Nintendo of America Inc. that would have rendered the video game giant temporarily unable to sell controllers for its popular Wii, GameCube and Wavebird Wireless consoles in the U.S.
A U.S. Senate subcommittee said Tuesday that Washington Mutual Inc. failed to adequately control and disclose the high risk of default on securitized prime and subprime mortgage loans it sold to investors leading up to its 2008 collapse, the largest bank failure in U.S. history.