NEW HAVEN, Conn., March 7- A federal jury on Friday found former Jefferies Group Inc trader Jesse Litvak guilty of defrauding clients on mortgage bond trades made after the financial crisis. "Today's verdict shows plainly and powerfully that Wall Street professionals are not above the law," U.S. Attorney Deirdre Daly in Connecticut said in a statement.» Read More
Morgan Stanley said it has settled a class-action lawsuit accusing it of gender bias against current and former women financial advisers and trainees, and has set aside $46 million to pay claims.
A Texas judge overseeing lawsuits against Merck over its withdrawn pain drug Vioxx dismissed a case, rejecting the plaintiff's claim that she was not properly informed of the health risks associated with the medicine, Merck said late on Friday.
U.S. authorities said they joined in a whistleblower case filed against Hewlett-Packard, Sun Microsystems and Accenture alleging that the companies violated federal false claims laws.
Microsoft said it agreed to pay up to $180 million to settle a class-action lawsuit, claiming the company has used its monopoly to overcharge citizens in the state of Iowa.
Lucky Friday the 13th: As I’ve often detailed, there are many moving parts to getting breaking news on the air. "Friday the 13th" is the last day one might think the stars would decide to align to our benefit, but they did. Beverage maker Cott had been the subject of speculation all day, focusing on a possible merger with Cadbury Schweppes. It was halted before the New York Stock Exchange open for “news pending,” which, of course, only served to fuel that speculation. ...
Nicole Deese, a securities attorney at Fowler, White & Boggs, told CNBC’s “Power Lunch” that allowing bond holders to sue investment banks that sold high-yield bonds backing sub-prime loans will “inhibit, if not entirely stifle, the flow of money from capital markets to the mortgage sector.”
Virgin Media said on Thursday it had filed proceedings in the High Court to resolve a dispute with rival BSkyB over the withdrawal of its basic channels from Virgin's TV service.
The Beatles' Apple Corps company has settled a royalties dispute with record label EMI, the two companies said Thursday, raising hopes that Beatles recordings may soon be legally available online.
Package delivery company FedEx said it agreed to settle a racial discrimination lawsuit against its express unit, FedEx Express, for $53.5 million.
France's Danone has sent notice to begin litigation against the founder of Wahaha, its partner in China, for what it called a breach of contract, Danone's Asia Pacific President Emmanuel Faber said on Wednesday.
In a 215-page decision, a three-member WTO compliance panel sided with the twin Caribbean island nation of Antigua and Barbuda, which has argued that Internet gambling is a lucrative source of revenue and provides an income for hundreds of islanders.
Beazer Homes USA said it has received a grand jury subpoena from the U.S. Attorney's Office, which is seeking documents relating to it mortgage origination business.
“It’s relatively small dollars today, but growing extremely rapidly – it’s one of the most rapidly growing businesses in our portfolio,” Dauman said Wednesday. “I expect us to be not a leader, but the leader in providing video content on the cell phone.”
Beazer Homes USA , the sixth-largest U.S. home builder, on Wednesday confirmed it is cooperating with federal prosecutors in a probe relating to its mortgage business. Beazer's shares were off 12% in premarket electronic trading after earlier falling 18% to their lowest level since August 2003.
Hewlett-Packard sued computer maker Acer on Tuesday accusing the company of illegally using patented HP technology in a variety of desktops, laptops and displays sold in the U.S.
Plaintiff Frank Schwaller sued Merck after his wife, Patricia, took Vioxx for 20 months for shoulder pain before dying from a heart attack in August 2003.
EMI Group and Bertelsmann have reached a settlement on litigation stemming from the German media company's investment in music file-sharing software company Napster, the two companies said Monday.
Vonage Holdings shares were hammered on Friday after a federal judge agreed to bar the company from using Internet phone technology owned by much bigger rival Verizon Communications.
The Southern California farm that grew the green onions that were first linked to and then cleared in last year's E. coli outbreak has filed a libel lawsuit against Taco Bell.
Oracle sued SAP, on Thursday for "corporate theft on a grand scale," claiming its business software rival had stolen copyrighted software and other confidential materials.