June 29- General Motors Co said a judge in Delaware has dismissed a lawsuit by shareholders who wished to recoup losses stemming from the recall of millions of vehicles with an ignition switch defect linked to several deaths. There are three other shareholder derivative actions, one in Wayne County, Michigan and two in Federal District Court for the Eastern...» Read More
MBIA wins the right to prove fraud case by statistical sampling.
the New York Times reports.
US securities regulators have broadened their investigation into the alleged $8 billion Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products, reports the Financial Times.
The lawsuits filed by the trustee seeking money for Bernard L. Madoff’s fraud victims may be a blow for the defendants — but they are catnip for an obscure breed of Wall Street traders speculating on the outcome of the enormous Madoff bankruptcy case, the New York Times reports.
In addition to Mark Madoff's children being sued—three days before his suicide—by Bankruptcy Trustee Irving Picard, Mark Madoff himself was implicated in another lawsuit Picard filed on Friday.
Shares of Google and Apple edged higher in pre-market trading after a federal court judge dismissed a patent lawsuit against the tech giants brought by Microsoft co-founder Paul Allen.
For two years, the two sons of jailed financier Bernard Madoff portrayed themselves as honest whistleblowers of their father's historic fraud. A court-appointed trustee depicted them as bungling money managers who did nothing to protect investors.
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested, the New York Times reports.
We knew immediately this was going to be the largest fraud ever, by a long shot. And it was. $18 billion. Almost ten times larger than any other Ponzi scheme. It became clear very early that the direct Madoff investors were doomed.
In late 2006, the German engineering giant Siemens, one of world’s largest companies, was engulfed in a corruption scandal.
Newly released documents detail 12 years of fits and starts at the Securities and Exchange Commission as financier Allen Stanford was allegedly running a global Ponzi scheme.
The environmental group Greenpeace filed a lawsuit in US district court in Washington Monday accusing the Dow Chemical Company, a smaller chemical manufacturer, and several other defendants of engaging in a years-long campaign of corporate espionage against Greenpeace and other players in the environmental movement.
On Wednesday, the Consumer Product Safety Commission is scheduled to vote to create a new, publicly accessible database of safety complaints that is intended to make it easier for consumers to learn about problems with a product, the New York Times reports.
Wells Fargo will pay Citigroup $100 million to settle a legal dispute over the contentious 2008 purchase of Wachovia, the companies said on Friday.
Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with major lenders over revamped foreclosure practices was not imminent. The New York Times reports.
When Sam Keller, a former quarterback at Arizona State, sued the video game publisher Electronic Arts last year, he was seeking compensation for himself and other college athletes whose names were not used but whose images he contended were being illegally used by the company. The New York Times reports.
Congress and financial-market regulators are revamping a reward system for whistle-blowers, offering big payouts for tips about a host of securities and commodity law violations, to be doled out from a new $451 million fund. The New York Times reports.
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.