WILMINGTON, Delaware, April 28- Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors, alleges $98...» Read More
Merrill Lynch will follow Citigroup in cobbling together a settlement for clients who bought auction rate securities.
Tone Grant, the former president of Refco, once the largest independent commodities broker, was sentenced to 10 years in prison for his role in a $2.4 billion fraud that involved hiding huge trading losses from clients.
Citigroup agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million civil fine to settle charges it fraudulently misled investors about the debt's risk.
Citigroup is in talks with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market that could result in its buying back several billion dollars of the illiquid securities, Wall Street Journal said.
According to MGA Entertainment, a judge has denied a motion for mistrial in the case Mattel brought against the company.
Los Angeles is in the middle of a billion dollar girl fight. Actually a $3.1 billion girl fight if Mattel's figures are correct. Later today a judge is expected to rule on whether to declare a mistrial in the case Mattel brought against MGA Entertainment over its mega-hit Bratz dolls.
A lawsuit against UBS alleging that the Swiss bank engaged in fraud related to holdings of a fund in loss-making company Endwave was dismissed by a New York Supreme Court judge, court documents showed.
Senator Ted Stevens, the longest-serving Republican senator and a figure in Alaska politics since before statehood, has been indicted on seven counts of falsely reporting hundreds of thousands of dollars in services he received from a company that helped renovate his home.
Oracle amended its lawsuit against SAP on Monday, saying SAP executive board members were warned that its TomorrowNow unit was engaged in corporate theft before SAP bought TomorrowNow.
New York Attorney General Andrew Cuomo filed a civil lawsuit on Thursday against UBS, accusing the Swiss bank of steering customers into auction-rate securities that this year became impossible to cash out of amid the credit crunch.
San Diego City Attorney Michael Aguirre said Wednesday he filed a lawsuit against Bank of America Corp and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."
U.S. rapper and hip-hop mogul 50 Cent sued Taco Bell on Wednesday, saying the restaurant chain made him the star of its hip-hop themed ad campaign without his permission and without paying him a fee.
New York attorney general Andrew Cuomo is preparing to file civil securities-fraud charges against UBS, possibly as early as this week, the Wall Street Journal said on Wednesday.
In a press release, BankAtlantic's Chairman, Alan B. Levan refers, in part, to yours truly, in saying, "In the wake of the highly publicized failure of IndyMac, breathless television reporters filled the airwaves with the repeated question on the minds of an anxious public...
Richard Bove, a prominent U.S. banking analyst, was sued Monday by BankAtlantic Bancorp, which accused him of defamation and negligence over a recently published research report, the bank said.
Samuel Israel III bilked his investors out of $250 million, but they are hoping to recoup some of their money from one of Wall Street’s deepest pockets: Goldman Sachs.
A jury decided Thursday that Barbie and the Bratz dolls are relatives, handing a major victory to Mattel in its copyright infringement lawsuit against rival MGA Entertainment.
Countrywide Home Loans has agreed to pay $325,000 to the Chapter 13 bankruptcy trustee in Pittsburgh, settling a matter that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court.
Defendants and plaintiffs in two related copyright infringement lawsuits against YouTube have reached a deal to protect the privacy of millions of YouTube watchers during evidence discovery, a spokesman for Google said on Monday.
EBay scored a major court victory Monday when a federal judge ruled that Tiffany had failed to prove the online auctioneer was responsible for the sale of fake Tiffany jewelry on its site.