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...» Read More
The destruction of MERS will simply result in another bailout.
Large banks, hedge funds and private investors hungry for new and lucrative opportunities are pumping hundreds of millions of dollars into medical malpractice claims, divorce battles and class actions against corporations — all in the hope of sharing in the potential winnings.
Having sex on the copy machine is apparently just a part of a normal day at Chase Manahattan's South Richmond Hill, Queens Branch.
When Congress comes back into session next week, it may consider measures intended to bolster the legal status of a controversial bank-owned electronic mortgage registration system that contains three out of every five mortgages in the country.
Over the last few months, Kaplan and other for-profit education companies have come under intense scrutiny from Congress, amid growing concerns that the industry leaves too many students mired in debt, and with credentials that provide little help in finding jobs. The New York Times reports.
The Supreme Court seemed wary about a business-backed challenge that could make it almost impossible for consumers to band together to make claims against their cell phone carriers, cable providers and credit card companies.
Industry regulators have fined Goldman Sachs $650,000 for failing to disclose that two of its brokers, including the executive accused of leading the mortgage securities deal that brought civil fraud charges against the firm, were under investigation by the government.
Do-it-yourself house possession cases have been popping up all over the country — and these self-proclaimed owners play an odd role in a real-estate mess that never seems to end. The NYT reports.
In what labor officials and lawyers view as a ground-breaking case involving workers and social media, the National Labor Relations Board has accused a company of illegally firing an employee after she criticized her supervisor on her Facebook page.
The U.S. Department of Labor wants a Kentucky coal mine owned by troubled Massey Energy closed over a pattern of serious violations, according to a federal lawsuit filed Wednesday.
The police department in Portland, ME, has become the latest law enforcement agency to stop using a popular sniper rifle over concerns the gun can go off without the trigger being pulled.
As lenders have reviewed tens of thousands of mortgages for errors in recent weeks, more and more homeowners are stepping forward to say that they were victims of bank mistakes — and in many cases, demanding legal recourse. The NYT reports.
The two stories related to mortgages do not have a great deal in common, other than tracing their lineage to the home loans of dubious provenance that were doled out to anyone with a pulse between 2005-07 and quickly packaged up into securities and sold by Wall Street to accounts around the planet.
Newly unsealed court documents — including Goldman e-mail and internal reports — portray a firm that at times seemed to turn a blind eye to its own internal concerns about Bayou as it raked in fees from the hedge fund. The NYT reports.
Disgraced fund manager Art Nadel was sentenced Thursday to 14 years in prison after pleading guilty to defrauding investors of over $160 million.
The manufacturer of the world’s most popular hunting rifle has been wrestling for decades with questions about whether the gun is safe, and at least twice considered a nationwide recall of the gun, according corporate insiders and internal documents revealed in a ten-month CNBC investigation.
Internal company documents show that at least twice, the Remington Arms Company considered a nationwide recall of its popular 700 series rifles, but decided against it despite thousands of complaints and dozens of lawsuits over inadvertent discharges.
At the heart of the decades-long controversy over the Remington 700 series is a piece of metal that is roughly the length of a paper clip.
Was the great securitization machine that made hundreds of billions of dollars in mortgage loans based on a legal foundation of sand? The NYT asks.
The two men worked out how the computerized system would react to certain trading patterns – allowing them to influence the price of low-volume stocks. The FT reports.