Dec 26- Brazil's state-run oil company Petroleo Brasileiro SA and some of its executives were hit with a U.S. class action lawsuit by investors in $98 billion of the company's securities over an alleged kickback and bribery scheme. The latest case was filed on Dec. 24 in Manhattan's federal court by the Labaton Sucharow law firm on behalf of the city of Providence,...» Read More
NEW YORK, July 23- A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. New York- based BlueMountain Capital Management filed a lawsuit in the district court of Puerto Rico on Tuesday, claiming that the new law, known as the Recovery Act, runs counter to both the Puerto Rican and U.S. constitutions.
July 21- The U.S. commonwealth of Puerto Rico asked a federal court to dismiss as premature a lawsuit filed by U.S. mutual funds that sought to strike down a recently enacted Puerto Rican law that the funds said posed a threat to American investors.
July 17- U.S. senators on Thursday demanded to know why General Motors Co did not fire its top lawyer after it was revealed this year that the automaker's litigation department knew of a widespread and deadly ignition flaw but failed to escalate the safety issue.
WASHINGTON, July 17- General Motors' legal department came under fire in a Senate hearing on Thursday, as lawmakers questioned why the automaker took more than 10 years to recall cars with ignition switch flaws while its lawyers worked on numerous cases involving deaths or injury caused by the malfunctioning switch.
WASHINGTON, July 17- Two more major figures in General Motors Co's safety debacle will appear on Thursday for the first time before U.S. lawmakers investigating why it took the automaker more than 10 years to recall millions of vehicles with a deadly ignition switch flaw.
WASHINGTON, July 16- General Motors Co has appointed an outside law firm to investigate its legal department, which is under fire for its role in the company's mishandled ignition switch recall, the automaker's top lawyer will announce at a Senate hearing.
The AICPA said it brought its federal lawsuit in the U.S. District Court for the District of Columbia, seeking to block the IRS from moving ahead with its program. "The IRS should withdraw the new rule, consult with stakeholders, and use the tools and data already at its disposal to monitor unethical tax return preparers," Melancon said.
July 15- The top U.S. auditor regulator said it expects to conduct its first inspection of a mainland Chinese audit firm by the end of the year, under an expected deal to resolve a long-running dispute between the United States and China regarding accounting oversight.
NEW YORK, July 14- Former leaders of the defunct law firm Dewey& LeBoeuf have asked a state judge to dismiss criminal charges against them, saying they should not be made "scapegoats" for the firm's downfall.
Syncora, which insures some of the city's bonds and interest-rate swaps, appealed an Aug. 28, 2013 ruling by U.S. Syncora's attorney, James H.M. Sprayregen at law firm Kirkland& Ellis LLP, said an appeal will be filed with the U.S. Sixth Circuit Court of Appeals.
NEW YORK, July 9- A federal judge on Wednesday rejected PricewaterhouseCoopers' request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former New Jersey Governor Jon Corzine.
A consumer rights law firm said it filed a lawsuit against Google alleging the company "illegally monopolized" the Internet and mobile search market.
A drive by some cities to cut costly police retirement benefits has led to an extraordinary face-off between local politicians and the law enforcement officers.
A unit of British bank HSBC was hit with a record $2.46 billion final judgment in a U.S. securities class action lawsuit on Thursday.
The IRS said that it has stopped initiating new asset seizures from tax delinquents during the government shutdown.
Morningstar said personal information, including credit-card details, of about 2,300 customers may have been compromised due to a security breach last year.
Google and its auditor Ernst & Young will be called again to a British parliament committee to testify on tax and inconsistencies in the way Google portrays its activities in Britain.
In a blow to one of the world's largest accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations.
KPMG said late on Monday it had fired a senior partner in the accounting firm's Los Angeles office for allegedly providing inside information to an unnamed third party.
A group of shareholders in Royal Bank of Scotland has launched a multi-million pound lawsuit against the state-owned bank for misleading investors at the height of the credit crisis in 2008.