HARRISBURG, Pa., May 29- Chevron Corp. has paid a reported $5 million to settle a lawsuit filed last year by the parents of a worker who was burnt to death in a gas well fire in western Pennsylvania. Local media reported the $5 million settlement, saying it had been approved by a judge in Allegheny County Court of Common Pleas in Pittsburgh earlier this month.» Read More
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.
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.