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  • NEW YORK, Jan 27- Pfizer Inc said on Tuesday it agreed to pay $400 million to avert a trial in a class action lawsuit accusing the pharmaceutical giant of misleading investors in connection with off-label marketing. Pfizer disclosed the agreement-in-principle as it released its fourth-quarter results. "This resolution reflects a desire by the company to...

  • Berkshire's NetJets avoids $500M IRS tax claim Tuesday, 27 Jan 2015 | 12:06 PM ET
    A Netjets Inc. sign stands hear a new Embraer Phenom 300 jet at Eppley Airfield in Omaha, Nebraska.

    The private jet-sharing company has defeated an IRS lawsuit attempting to recoup more than $500 million of unpaid taxes and penalties.

  • Berkshire's NetJets defeats $500 million IRS tax claim Tuesday, 27 Jan 2015 | 11:08 AM ET

    NEW YORK, Jan 27- NetJets Inc, the private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, has defeated a U.S. Internal Revenue Service lawsuit attempting to recoup more than $500 million of unpaid taxes, penalties and interest. District Judge Edmund Sargus in Columbus, Ohio, said on Monday that the IRS was bound by guidance it gave a NetJets...

  • U.S. securities class action lawsuits shrink in size Tuesday, 27 Jan 2015 | 12:01 AM ET

    Losses claimed by shareholders, measured by how much stock prices fell when alleged frauds were disclosed, shrank 45 percent in 2014 to an eight-year low of $57 billion, a study released Tuesday by Cornerstone Research and Stanford Law School showed. The average size dropped to $34 million, a three-year low, in 2014 from $86 million a year earlier, a study released...

  • Chinese tycoon sues government for late payment Monday, 26 Jan 2015 | 7:11 PM ET
    Yan Jiehe

    A Chinese tycoon is suing six local governments for late payments on contracts, in a rare legal action that highlights the risks of debts. The Financial Times reports.

  • The SEC approved it in a split vote, with the agency's two Republican commissioners dissenting over concerns it might create a windfall for class action attorneys. One researcher at Emory University found that of all the fair funds ever created by the SEC to compensate insider-trading victims, this will be the largest in history. The creation of the fund comes...

  • Clinic that treated Joan Rivers sued over her death Monday, 26 Jan 2015 | 6:33 PM ET
    Joan Rivers in 2012

    The daughter of late Joan Rivers filed a medical malpractice lawsuit against the New York outpatient clinic that treated the entertainer.

  • Elon Musk's SpaceX drops lawsuit against Air Force Saturday, 24 Jan 2015 | 12:17 PM ET

    WASHINGTON— A private spacecraft company run by billionaire Elon Musk has dropped a lawsuit alleging the U.S. Air Force improperly awarded a contract to launch military satellites to a joint venture between Boeing and Lockheed Martin. Musk's SpaceX filed the lawsuit in the U.S. Court of Federal Claims in April after Boeing Co. and Lockheed Martin Corp. landed...

  • Hedgie billionaire sues fashion designer for $50M Friday, 23 Jan 2015 | 6:41 PM ET
    Moore Capital Management LP CEO Louis Bacon speaks to an attendee during the Dubin Breast Center Gala in New York, Dec. 12, 2011.

    Hedge fund manager Louis Bacon accused Peter Nygård of orchestrating an "obsessive and malicious" smear campaign against him for 4-1/2 years.

  • Mechanics union sues American Airlines Friday, 23 Jan 2015 | 5:27 PM ET
    File photo of American Airlines planes

    A mechanics union has filed a lawsuit against American Airlines alleging that the company's managers pressured mechanics to breach FAA regulations.

  • KANSAS CITY, Mo.— Twenty-eight oil companies and retailers have agreed to settle litigation claiming customers were knowingly overcharged when gas station fuel temperatures rose, plaintiffs announced Friday. Federal officials earlier consolidated about 50 lawsuits filed since 2006 from consumers across the country in the U.S. District Court in Kansas...

  • ALBANY, N.Y.— A chain of upstate New York car dealerships whose ubiquitous television ads tout "huge" deals has agreed to pay $1.6 million to settle a federal lawsuit filed by customers who paid nearly $300 for an anti-theft package. Billy Fuccillo's auto business and 18 of its upstate dealerships agreed to pay $1.6 million to settle the lawsuit filed in 2009. The...

  • NEW YORK, Jan 22- UBS AG has won dismissal of a lawsuit accusing it of seizing billions of dollars from inactive accounts over the past 30 years, including assets of the late Indonesian statesman and United Nations General Assembly President, Adam Malik. In 1998, UBS and Credit Suisse Group AG agreed to pay $1.25 billion to settle claims over dormant wartime...

  • McDonald's workers sue over racial discrimination Thursday, 22 Jan 2015 | 3:24 PM ET
    People walk past a McDonald's restaurant, June 9, 2014, in New York.

    Civil rights lawsuit alleges racism and sexual harassment led to wrongful termination of McDonald's workers. The USAToday reports.

  • The workers said in a federal complaint filed Thursday that about 15 African-American employees of some southern Virginia restaurants run by Soweva Co. were fired last May after several white employees were hired. The employees said that McDonald's Corp. controls nearly every aspect of how franchisees operate restaurants, but corporate officials did...

  • Jan 21- Google Inc and Viacom Inc won the dismissal of a nationwide privacy lawsuit accusing them of illegally tracking the Internet activity of boys and girls who visited Nickelodeon's website, in order to send targeted advertising. The lawsuit claimed that Viacom secretly kept track of children under the age of 13 who streamed videos and played video games...

  • Google, Viacom kids' web privacy suit dismissed Wednesday, 21 Jan 2015 | 2:54 PM ET

    A lawsuit accusing the companies of illegally tracking Internet activity of children in order to send targeted advertising was dismissed.

  • Jan 21- Google Inc and Viacom Inc won the dismissal of a nationwide privacy lawsuit accusing them of illegally tracking the Internet activity of boys and girls who visited Nickelodeon's website, in order to send targeted advertising. The lawsuit claimed that Viacom secretly kept track of children under the age of 13 who streamed videos and played video games...

  • Supreme Court divided over housing discrimination Wednesday, 21 Jan 2015 | 12:22 PM ET
    U.S. Supreme Court Chief Justice John Roberts, with Justices, Anthony Kennedy, Ruth Bader Ginsburg, Stephen Breyer, Sonia Sotomayor and Elena Kagan listen as U.S. President Barack Obama delivers his State of the Union speech.

    The U.S. Supreme Court appeared torn as it weighed whether to narrow the scope of discrimination claims made under the Fair Housing Act.

  • Airbnb fight heats up  Wednesday, 21 Jan 2015 | 12:08 PM ET

    The battle over legality of hot startup Airbnb is intensifying in New York City.