NEW YORK, March 30- A federal judge on Monday dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc without disclosing the investment or its risks. Once known as SkyTerra Communications Inc, LightSquared filed for bankruptcy protection in...» Read More
Bernard Madoff, the author of the biggest Ponzi scheme in history, told inmates at the Butner prison where he is serving his 150 years jail sentence that his victims deserved what happened to them, because they were rich and greedy, according to an article in New York Magazine.
There’s something missing from today’s Financial Crisis Inquiry Commission hearing at The New School in New York.
As it investigates a suspected kickback scheme in New York’s pension system, the Securities and Exchange Commission has been pushing to bar Steven L. Rattner, a prominent financier and former adviser to the Obama administration on the auto industry, from working in the securities industry for up to three years, according to three people told of the discussions. The NYT explains.
Famed defense attorney Eddie Hayes may represent accused Ponzi Schemer/Investment Adviser Ken Starr.
Goldman Sachs may have found a way to compromise with the Securities and Exchange Commission that will allow both sides to declare victory.
Google has balked at requests from regulators to surrender Internet data and e-mails it collected from unsecured home wireless networks, saying it needed time to resolve legal issues. The NYT reports.
The Lehman Brothers bankruptcy estate has filed a lawsuit against JP Morgan Chase executives, including CEO and president Jaime Dimon, alleging that JP Morgan illegally siphoned billions of dollars from Lehman in its last days before the bank filed for bankruptcy.
Goldman Sachs is preparing to file a full-blown, point-by-point defense against the fraud allegations filed by the SEC, people familiar with the matter told CNBC.com.
Nine memory chip makers, including Samsung Electronics, Infineon and Hynix Semiconductor, are set to be fined by EU regulators this week on charges of illegally fixing prices.
News on Thursday that New York State prosecutors are examining whether eight banks hoodwinked credit ratings agencies opened yet another front in what is fast becoming the legal battle of a decade for the big names of finance. The New York Times explains.
Shares of Moody’s fell sharply on Monday after it disclosed that the Securities and Exchange Commission had warned that it might sue the firm for making “false and misleading” statements as part of its application as a ratings organization.
Mutual fund management companies receive handsome fees from people who often have no idea whether they are getting a good deal. For the most part, they're not, says the NYT.
Goldman Sachs is planning to change some of its practices in dealing with institutional clients, a step that could help it settle charges filed last month by US securities regulators.
David Sokol, a key Warren Buffet lieutenant, told CNBC that it would be a “disaster” if Congress enacted retroactive legislation that voided contracts dealing with derivatives.
Noisy protesters with signs took over two bank building lobbies on Thursday in a prelude to a Wall Street rally by workers and union leaders angry over lost jobs, the taxpayer-funded bailout of financial institutions and questionable lending practices by big banks.
The fight that kicked off when Activision fired the two heads of the studio behind last year’s best selling video game is getting uglier—on multiple fronts.
The bank's problems are over after Tuesday's marathon Senate hearings and the stock is likely to rise, Rochdale Securities banking analyst Richard Bove told CNBC Wednesday.
The Supreme Court said Tuesday that investors who lost millions when Merck pulled its blockbuster pain drug Vioxx off the market can go ahead with a lawsuit against the pharmaceutical giant.
ACA, the main investor in a failed mortgage-securities deal that prompted fraud charges against Goldman Sachs, appears to have caused some of the $1 billion loss itself, CNBC has learned.
The government's case against Goldman Sachs revolves in part around whether the investor that selected the toxic securities at the center of the case also could be the primary victim.