The mortgage collapse has claimed another victim in homebuilding company Levitt & Sons LLC and 37 of its subsidiaries, which filed for Chapter 11 bankruptcy protection Friday.
An attorney for the lead plaintiff in a putative class action suit against ING Life & Annuity Co. over revenue-sharing payments ING allegedly took from mutual fund advisers while managing retirement plan investments said Tuesday that he is hoping to breathe new life into the case following its dismissal on Nov. 6.
In a major coup for Ford Motor Company, a Florida appeals court has overturned a $60 million product liability award handed to the parents of a teenager killed during the rollover of a 1996 Ford Explorer sport utility vehicle.
The settlement reached in the Vioxx product liability litigation has been touted as a victory for both plaintiffs and drug maker Merck & Co. Inc. But the deal also means a major payday for a third party: the plaintiffs attorneys.
The U.S. Department of Justice said Friday that there was no legal basis for extending an antitrust consent decree against Microsoft Corp., even though several states have argued otherwise.
A judge has denied a bid by AstraZeneca to dismiss some claims in 11 cases brought over its drug Seroquel because of federal preemption, saying the drug company failed to address all aspects of the claims against it.
The government of Nigeria has sued three international tobacco companies for 5.3 trillion Nigerian naira, equivalent to about $45 billion, to cover the cost of medical care for underage smokers.
The U.S. Department of Justice has struck its first plea deals in its marine hose price-fixing and bid-rigging probe, with two Trelleborg Industrie SAS executives agreeing to speak up, pay up and go to jail.
JMIC Life Insurance Co. will pay $45 million to settle a class action lawsuit alleging it did not refund customers their unearned insurance premiums.
The founder of Orlando-based failure analysis company Controlled Semiconductor Inc. is accusing his former employer Control Systemation Inc. of stealing trade secrets and unfairly patenting a device based on his laser analysis invention for electrical devices and circuitry.
The U.S. arm of Japan's largest advertising agency has been stung with a lawsuit by a former creative director who claims he was fired after complaining that the company’s chief executive officer pressured him and other employees to engage in sexually explicit activities.
The federal judge presiding over the Fosamax litigation has rejected a request by the plaintiffs' steering committee for an evidentiary hearing, claiming to already possess enough material to make an informed decision on the pending motion for class certification.
A federal judge has extended the court’s oversight of Microsoft Corp. until late January as she reviews motions for the court to continue to keep an eye on the software giant for another five years.
In cases where a sale or financing has been exposed properly to the market, the bankruptcy court's ability to interpose its own valuation judgment should be restricted. Markets, rather than courts, should determine value, says Stephen D. Lerner of Squire, Sanders & Dempsey LLP in our series of chats with high-profile bankruptcy attorneys.
A federal jury has convicted a hedge fund adviser of fraud after he lost the Ohio Bureau of Workers' Compensation over $200 million with a risky investment gone awry.
Sprint Nextel customers leaving the wireless service provider will soon be able to use their Sprint phones on competitors' networks, thanks to an antitrust class action settlement that mandates that Sprint turn over the code to unlock the hardware.
Drug maker AstraZeneca LP is asking a court to weed out the “free-riders” in the multidistrict product liability litigation over antipsychotic drug Seroquel, arguing that the time has come to sort the “serious” plaintiffs from those who are just hoping to cash in on any settlement reached in the case.
The mortgage crisis has not only affected lenders: Even retailers of home furnishings and electronics will suffer as home sales decline, says Fowler White Boggs Banker’s John D. Emmanuel in our series of chats with high-profile bankruptcy lawyers.
Days after federal and Florida state agents raided WellCare Health Plans Inc.’s Tampa offices, the health insurance company is facing another potential threat: shareholder suits.
Software company Pegasus Imaging Corp. has filed suit against Northrop Grumman Corp., claiming the defense technology company breached a license agreement with Pegasus and infringed the software maker’s copyright.