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.
Facing mounting financial challenges, consumer electronics retail chain Tweeter Home Entertainment Group Inc. filed for Chapter 11 protection on Monday.
Bankrupt music retailer Tower Records received court approval on Monday of the third draft of its Chapter 11 liquidation plan, which has drawn fire from creditors since it was first filed in March.
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.
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.
Computer chip maker Intel Corp. faces calls for sanctions by its opponent in an antitrust suit stemming from the company's now infamous email preservation “lapses.”
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.
Harbinger Capital Partners filed a lawsuit Monday seeking to force metals maker Ryerson Inc. to hold its annual shareholders meeting, at which the hedge fund manager plans to launch its bid to replace a majority of the members on the company's board of directors.
Global Power Equipment Group Inc. has asked the Delaware court overseeing its Chapter 11 proceedings to extend the power equipment designer and fabricator's exclusive rights to file and seek support for a reorganization plan, arguing that the filing of competing plans could disrupt Global Power's businesses.
Pharmaceutical giant Pfizer Inc. filed suit Thursday against Teva Pharmaceuticals USA Inc., claiming the generics maker infringed a patent for its cholesterol-lowering drug Lipitor with its latest abbreviated new drug application.
AstraZeneca Pharmaceuticals LP was hit with a proposed wage-and-hour class action Wednesday, which joined similar suits against the pharmaceutical giant in at least three other states.
Two former executives of Dow Chemical Inc. have sued the company, demanding to be reimbursed for legal fees incurred during a U.S. Securities and Exchange Commission investigation into alleged illegal discussions about selling the company.
A judge has approved the appointment of a parter at Kirkpatrick & Lockhart Preston Gates Ellis LLP to serve as the examiner in New Century Financial Corp.'s Chapter 11 proceedings.
Peeved at General Electric Capital Corp.'s motion for relief from an automatic stay, the official unsecured creditors committee of New Century Financial Corp.'s ongoing bankruptcy proceedings said on Thursday that the creditor deserved nothing more than what it had already received.
Water storage company Amtrol Holdings Inc. said Wednesday that it had emerged from Chapter 11 after the closing of a $128 million exit financing facility arranged by Merrill Lynch & Co. Inc. and Credit Suisse Group.
The judge overseeing Sea Containers Ltd.'s Chapter 11 proceedings has signed off on the company's request to extend its exclusive rights to file and seek support for its reorganization plan.
As Bally Total Fitness Holding Corp. readies for a stint in bankruptcy, a key shareholder is already threatening to sue the fitness giant over its proposed restructuring plan.
A federal court judge on Thursday spurned an attempt by the official committee of unsecured creditors to terminate bankrupt music distributor Tower Records' exclusive right to propose a restructuring plan and allow the committee to file a competing plan, according to news reports.
Pharmaceutical giant Pfizer Inc. has accused a plaintiff in a product liability suit of trying to thwart its efforts to remove the case to federal court by naming local field representatives as co-defendants.
After much wrangling, the U.S. Trustee in subprime lender New Century Financial Corp.’s Chapter 11 case on Tuesday asked the court to approve her appointment of an examiner.