NEW YORK, July 23- A U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase& Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud.» Read More
A federal judicial panel has agreed to consolidate the 77 lawsuits over the BP oil spill in New Orleans, despite objections from some of the defendants who wanted the cases heard on more neutral territory.
An investigation by the Government Accountability Office (GAO) contends that for-profit colleges encouraged fraud and engaged in deceptive and questionable marketing practices.
Citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis, according to two people briefed on the settlement. The New York Times reports.
Former Enron CEO Jeffrey Skilling’who is three-and-a-half years into a 24-year prison sentence—wants out of jail while a federal appeals court reconsiders his case.
The oil is clearing much faster than expected, but concern remains over the unseen effects. The NYT reports.
As BP transitions to a new CEO, the company is also subtly transitioning to a new, more aggressive strategy when it comes to its liabilities for the Gulf oil spill.
A federal appeals panel in New Orleans has refused to order the judge who is presiding over many of the Deepwater Horizon liability cases to recuse himself, even though the judge previously owned bonds issued by two of the companies involved.
In nationwide surveys that were conducted in 2008 and 2009, the Pew Center found that 23 percent of Americans said that Hispanics were discriminated against “a lot” in society today.
Days after the Securities and Exchange Commission secured a $550 million settlement from Goldman Sachs, the agency’s chairwoman said on Tuesday that the commission was pursuing several other investigations related to the 2008 financial crisis. The NYT reports.
The administrator of a $20 billion Gulf oil spill compensation fund says fishermen and others with lost income claims would be "crazy" to bypass the fund and take their chances in court.
Only weeks ago, as Goldman’s negotiations with federal authorities dragged on and the bad publicity mounted, some speculated that Mr. Blankfein might lose his grip on Goldman. The NYT reports.
A former executive of Berkshire Hathaway subsidiary Forest River, who claims he "lost his job and had his reputation destroyed" because he followed Berkshire's Code of Business Conduct and Ethics, wants Warren Buffett to be questioned under oath in the case.
The Securities and Exchange Commission has agreed to pay $755,000 to settle a wrongful termination suit filed by a former staff lawyer at the agency who was abruptly fired in 2005 during an investigation into possible insider trading by Pequot Capital Management, a giant hedge fund, and its co-founder, Arthur J. Samberg.
Like any new employee, Jack Abramoff is trying to keep a low profile — or as low a profile as a cause célèbre disgraced lobbyist and convicted felon can keep when news cameramen keep staking out his new workplace. The NYT reports.
Frank DiPascali, Bernie Madoff's right-hand man, is free on bail Tuesday after months of incarceration.
BP deserves acknowledgement for the claims it has made to date to the Gulf of Mexico region and its residents and its agreement last week with the government to pay out some $20 billion, Ken Feinberg, BP escrow account administrator, told CNBC Monday.
The Justice Department says it has made the arrests since March, in a probe of mortgage fraud called Operation Stolen Dreams.
Despite all the bad headlines — the accusations of fraud, the talk of a big settlement, the risk, however remote, of criminal charges — there’s an inconvenient truth that’s been largely ignored: Most of Goldman’s big customers are not bolting. The NYT explains.
Jeffrey Gundlach was at the top of his game last fall, managing over $70 billion in bond fund assets for his long-time employer, TCW.
About 6,000 claims in total have been filed against BP since its massive oil spill in the Gulf of Mexico.