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  • But in January 2012 an old business acquaintance was ready to go public with accusations of widespread mortgage fraud at Bank of America's Countrywide unit, and he turned to Wasinger.

  • NEW YORK, Feb 13- A U.S. federal judge has chosen the law firm Scott+ Scott LLP to serve as interim lead counsel in a consolidated class action against many of the world's largest banks alleging manipulation of the roughly $5.3 trillion- a-day foreign exchange market.

  • WASHINGTON, Feb 12- The law firm Milbank, Tweed, Hadley& McCloy announced on Wednesday that it has rehired George Canellos, one of the former chief enforcers of U.S. securities laws. Canellos left his post as the co-head of the enforcement division of the Securities and Exchange Commission in January.

  • WILMINGTON, Del., Feb 12- A judge who found what he called a "startling pattern" of abuse by plaintiffs' lawyers may have shifted the landscape of asbestos litigation with a ruling in favor of manufacturers.

  • *Lawsuit seeks to hold former MF Global CEO Corzine, others responsible for brokerage's collapse. NEW YORK, Feb 11- A federal judge on Tuesday allowed a lawsuit to move forward that seeks to hold former MF Global Holdings Ltd Chief Executive Officer Jon Corzine and other executives responsible for the brokerage's collapse.

  • A federal court judge had invalidated test-taking and continuing education requirements the IRS wanted to impose on hundreds of thousands of unregulated tax-return preparers. Institute for Justice in 2012, a libertarian group, challenged the program, arguing Congress did not give the IRS the authority to regulate tax preparers.

  • NEW YORK, Feb 10- The U.S. Securities and Exchange Commission has demanded an admission of wrongdoing from Texas investor Samuel Wyly, as part of an ongoing policy shift from allowing defendants to settle lawsuits without acknowledging the charges against them.

  • DETROIT, Feb 10- Detroit will file a plan to adjust its debt with the U.S. Bankruptcy Court next week, an attorney representing the city told the judge overseeing the case on Monday. Bruce Bennett, an attorney with law firm Jones Day, told Judge Steven Rhodes that Detroit's filing target of Friday was too tight and needed to be extended.

  • NEW YORK, Feb 5- Jack Butler, a prominent bankruptcy attorney who played an instrumental role in American Airlines' merger with U.S. Airways Group, is leaving law firm Skadden Arps Slate Meagher& Flom to become an executive at Hilco Global, a financial services company with a broad range of operations.

  • WASHINGTON, Feb 5- The top U.S. audit watchdog said on Wednesday that the United States and China are close to striking a deal that would allow Washington to inspect the audit work of accounting firms in China.

  • WASHINGTON, Feb 5- The top U.S. audit watchdog said on Wednesday he believes the United States and China are close to striking a deal that would allow Washington to inspect the audit work of accounting firms in China.

  • Detroit's bankruptcy tab at $13.7 mln and growing Wednesday, 5 Feb 2014 | 12:11 AM ET

    Feb 4- Detroit's price tag for lawyers, consultants and other professionals hit $13.7 million in the first 75 days of its historic bankruptcy, according to a report filed late Tuesday by a court-appointed fee examiner.

  • Feb 4- Research services provider Covance Inc reported a better-than-expected 19 percent jump in quarterly adjusted profit as it gained from higher investments in later stages of drug development by pharma companies.

  • Critics say the internal court system gives the SEC a home-court advantage. The impact of the court was on full display when Elliot sided with the SEC on January 22 in a blunt 112- page opinion that slapped the Chinese units of the "Big Four" accounting firms with a six-month U.S. industry suspension.

  • *Baghdad hires law firm after Kurds open new pipeline to Turkey. LONDON, Jan 30- The Iraqi government has hired a law firm to target any buyer of what it considers illegally exported Kurdish crude oil, a Baghdad official said, toughening its tactics in a struggle to halt the northern region's drive for economic independence.

  • Jan 29- A Chicago- based accountant was indicted for allegedly trading ahead of an earnings announcement from his then employer, Allscripts Healthcare Solutions Inc, U.S. federal prosecutors said on Wednesday. Attorney's office in Chicago said. He now also faces charges from the Securities and Exchange Commission.

  • LONDON, Jan 29- Deloitte has pipped rival PwC to become the world's top accountant by revenue in the face of rising pressure on fees and new rules boosting competition, a global survey showed.

  • *ECB conducts Asset Quality Review for 130 banks. LONDON, Jan 27- The euro zone's grand plan to clean up its banks could falter because the European Central Bank lacks the power to force bankers, constrained by accounting rules, to accept regulators' view of the risks on their books. Estimates of the banks' total capital shortfall have been as high as $1 trillion.

  • The ugly battle over police pensions in America Thursday, 16 Jan 2014 | 3:50 PM ET
    Stockton Police officers talk with a parolee in Stockton, California.

    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.

  • HSBC hit with record $2.46 billion judgment Friday, 18 Oct 2013 | 3:02 AM ET

    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.