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Corporate

  • April 16, 2010

    SEC Charges Goldman With Fraud In Failed CDO

    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.

  • April 15, 2010

    Ore. High Court OKs Firing Medical Marijuana User

    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.

  • April 15, 2010

    Quadrangle Resolves SEC, Cuomo Probes For $12M

    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.

  • April 15, 2010

    Lehman Reveals Expected Creditor Payouts

    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.

  • April 15, 2010

    US Air, United Merger Could Take Flight 2nd Time Around

    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.

  • April 15, 2010

    DOJ Forced To Refute Obama In 'Don't Ask' Case

    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.

  • April 15, 2010

    Mazda Recalls 90K Cars In Japan, China

    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.

  • April 15, 2010

    Congress, White House Plan Mine Safety Crackdown

    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.

  • April 14, 2010

    SEC Plans To ID Large Traders, Limit Options Fees

    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.

  • April 14, 2010

    Jury Convicts AmeriFirst Principal Of Fraud

    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.

  • April 14, 2010

    Sens. Grill Holder On Securities, Health, Antitrust

    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.

  • April 14, 2010

    Toyota Yanks Lexus SUV Model Over Safety Worries

    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.

  • April 14, 2010

    DOL Misreported Massey Mine Safety Violations: Solis

    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.

  • April 14, 2010

    Lehman Examiner Names Auction Players In Full Report

    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.

  • April 14, 2010

    White House, Senate Square Off On Finance Reform

    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.

  • April 14, 2010

    Kirkland Leads Charter In $1.6B Debt Buyback

    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.

  • April 13, 2010

    Outlook Is Dim For Securities Litigation: Lerach

    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.

  • April 13, 2010

    Obama, Party Leaders To Discuss Supreme Court Pick

    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.

  • April 13, 2010

    Fed. Circ. Axes $21M Patent Verdict Against Nintendo

    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.

  • April 13, 2010

    Senate Investigation Finds Fraud At WaMu

    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.