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Lawsuits

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  • ORLANDO, Fla., July 19- A Florida jury has awarded the widow of a chain smoker who died of lung cancer punitive damages of more than $23 billion in her lawsuit against the R.J. Reynolds Tobacco Company, the nation's second-biggest cigarette maker.

  • Fla. jury slams RJ Reynolds with $23.6B in damages Saturday, 19 Jul 2014 | 3:48 PM ET

    MIAMI— A Florida jury has slammed the nation's No. 2 cigarette maker, R.J. Reynolds Tobacco Co., with $23.6 billion in punitive damages in a lawsuit filed by the widow of a longtime smoker who died of lung cancer in 1996.. The case is one of thousands filed in Florida after the state Supreme Court in 2006 tossed out a $145 billion class action verdict.

  • The case marks the first time that the SEC, which oversees the SIPC, has ever filed a lawsuit against the nonprofit corporation to try and force it to start a court liquidation proceeding. The SIPC, which was created by Congress, administers an industry-backed fund that is used to compensate investors if their brokerage collapses.

  • NEW YORK, July 17- The U.S. Securities and Exchange Commission and Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, on Thursday asked a judge to stay the regulator's civil lawsuit for 60 days while they try to reach a deal.

  • *Portugal Telecom considering lawsuit targeting BES. LISBON, July 17- Banco Espirito Santo could be sued over a loan that one of its founding family's holding companies failed to repay to Portugal Telecom, sources said on Thursday, as credit rating agencies downgraded the bank and its key shareholder.

  • 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.

  • GM CEO back on the hot seat     Thursday, 17 Jul 2014 | 10:12 AM ET

    GM CEO Mary Barra is back on Capitol Hill to explain to a Senate panel why the automaker settled cases involving defective ignition switches but never pushed for further investigation. CNBC's Phil LeBeau reports the details.

  • LVMH and eBay settle litigation over fake goods Thursday, 17 Jul 2014 | 6:48 AM ET

    PARIS, July 17- LVMH Moet Hennessy Louis Vuitton and eBay Inc have settled a long-running court battle over the sale of counterfeit luxury goods on the U.S. company's online auction website. LVMH also claimed that the sale of real perfumes through non-approved distribution channels such as eBay hurt its business.

  • Department of Justice official on Wednesday issued a thinly veiled threat to Bank of America Corp, saying that banks under investigation for shoddy mortgage securities they sold before the financial crisis must admit to misconduct and pay substantial penalties or face lawsuits from the agency.

  • July 16- Bank of America Corp said second-quarter profit fell 43 percent, a bigger decline than analysts had expected, after the bank posted $4 billion of litigation expenses linked to mortgage disputes following the financial crisis.

  • NEW YORK, July 16- A U.S. appeals court on Wednesday upheld the dismissal of a $500 million lawsuit by state-owned Mexican oil company Pemex accusing Siemens AG and SK Engineering& Construction Co Ltd of bribing Pemex officials to secure oil refinery projects in Mexico.

  • July 16- Bank of America Corp, the second-largest U.S. bank by assets, reported a 43 percent drop in second-quarter profit as mortgage revenue fell and litigation costs soared. Bank of America's shares, which have barely moved this year, fell slightly to $15.68 in premarket trading on Wednesday.

  • In an amended lawsuit against Andrew Madoff and the estate of Mark Madoff, Irving Picard, who is liquidating Bernard L. Madoff Investment Securities LLC, said the brothers' activity reflected their "sense of entitlement" to undeserved riches. Picard seeks to recoup $153.3 million from Andrew Madoff, the estate of Mark Madoff, and Mark's widow, Stephanie Mack.

  • 'Lemon-law' lawyer declares victory against Tesla Tuesday, 15 Jul 2014 | 10:34 AM ET
    Tesla Model S

    An attorney says he's won a settlement in a lemon-law suit against Tesla on behalf of a Model S owner who had problems. USA Today reports.

  • NEW YORK, July 14- Volume in Barclays PLC's private U.S. trading venue, also known as a "dark pool," fell by more than a third after New York's attorney general filed a lawsuit accusing the British bank of giving an unfair edge to high-speed traders, according to data released on Monday.

  • DOJ announces $7B Citi settlement     Monday, 14 Jul 2014 | 7:01 AM ET

    The "Squawk Box" crew reports the Justice Department has decided to settle with Citigroup over its shoddy mortgage-back securities dealings.

  • Dark pool probe builds pressure on Barclays boss Sunday, 13 Jul 2014 | 9:21 AM ET

    *NY lawsuit alleges Barclays equities dark pool deceived some customers. *Barclays is conducting its own investigation into the allegations.

  • The lawsuit, filed in U.S. District Court in Manhattan, claims that shareholders suffered losses after Lions Gate, which also produces TV shows such as "Mad Men," on March 13 agreed to pay $7.5 million and admit wrongdoing to settle the probe by the U.S. Securities and Exchange Commission.

  • Shareholders sue Lions Gate over SEC probe Friday, 11 Jul 2014 | 5:53 PM ET
    Carl Icahn

    The lawsuit claims shareholders suffered losses after Lions Gate agreed to pay $7.5 million and admit wrongdoing to settle an SEC probe.

  • Ex-Macau partner suing Las Vegas Sands for $5B Friday, 11 Jul 2014 | 5:37 PM ET
    Las Vegas Sands casino sits behind the Fishermans Wharf in Macau, in this Feb. 7, 2006 file photo.

    A former Macau business partner of Las Vegas Sands is suing Sands for at least $5 billion in profits that it says are owed.