District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants in a U.S....» Read More
Texas oilman Oscar Wyatt pleaded guilty Monday to conspiracy to commit wire fraud, one of five counts against him for his role in the U.N. oil-for-food scandal.
General Electric said that, for the first time, it would earn more this year from its operations outside the United States than from in the U.S., mainly because of strong revenue growth in emerging markets.
The social networking Web site Facebook has been warned that it could face a consumer fraud charge in the state of New York.
A New York Jets season-ticket holder filed a class-action lawsuit Friday against the New England Patriots and coach Bill Belichick for "deceiving customers."
Four medical device implant makers will pay about $311 million and agree to federal monitoring and other reforms to settle a government probe into improper consulting contracts with surgeons, federal prosecutors said Thursday.
A union filed a shareholder lawsuit against Moody's on Wednesday claiming the rating agency did not tell investors it "assigned excessively high ratings" to bonds backed by subprime mortgages.
Freddie Mac, the No. 2 U.S. mortgage financing company, does not expect the economy to fall into recession from the housing market downturn and even sees opportunities in the shake-up, its treasurer said on Wednesday.
A California appeals court on Tuesday declined to reinstate a long-running case against the Walt Disney over royalties it paid for its popular Winnie the Pooh character.
Four out of five businesses worldwide have been hurt by some type of corporate fraud in the last three years, according to a survey commissioned by risk consultant Kroll.
Dell said on Monday it would sell its latest range of personal computers through China's largest electronics retailer, Gome Group.
Prosecutors reached a plea deal earlier this week with Weiss's former partner, William Lerach, who along with Weiss helped shape the class-action legal industry and its pursuit of corporations for alleged wrongdoing.
Subprime mortgage lender Accredited Home Lenders agreed on Tuesday to be bought at a lower price by Lone Star and to drop a lawsuit against the private equity firm.
Fallout from credit problems in the mortgage market continued to batter various companies across the globe this week.
A division of Dole Food issued an international recall of bagged salad Monday after a sample taken from a store in Canada tested positive for E. coli, the company said. There have been no reports of illness, company officials said.
More than a dozen parties have expressed interest in Wendy's International sale process, the Wall Street Journal reported on Monday, citing a person familiar with the the situation.
Pacific Investment Management Co. (Pimco) is planning to take advantage of relatively cheap mortgage securities in the wake of the recent credit crisis by launching a $2 billion distressed-debt fund to buy the beaten-down assets, the Wall Street Journal reported Thursday.
General Motors in its contract negotiations with the United Auto Workers union has proposed one option that excludes establishing a union-run healthcare trust but calls for deeper cuts in several areas, the Wall Street Journal reported in its online edition.
Weyerhaeuser, one of the world's largest paper and lumber companies, said Monday that it would probably have to close plants and restrict operations because of weak market conditions.
U.S. health regulators charged Boston Scientific with inadequate record-keeping and reporting following the deaths of five patients implanted with an experimental device to treat a dangerous ballooning of the body's main artery.
CNBC has learned that Maurice "Hank" Greenberg has received a subpoena from the SEC and will be giving his first deposition as part of the SEC’s continuing investigation into what role, if any, he played in alleged accounting improprieties at American International Group.