The five banks are JPMorgan Chase& Co, Citigroup, British banks Royal Bank of Scotland and Barclays and Swiss bank UBS. RBS and Barclays this week set aside a further $1.71 billion for investigations and litigation involving foreign exchange. RBS's $510 million brought its total FX provision to $1.1 billion and Barclays' additional $1.2 billion raised its...» Read More
Four out of five businesses worldwide have been hurt by some type of corporate fraud in the last three years, according to a survey commissioned by risk consultant Kroll.
Prosecutors reached a plea deal earlier this week with Weiss's former partner, William Lerach, who along with Weiss helped shape the class-action legal industry and its pursuit of corporations for alleged wrongdoing.
Northrop, Cogent settle lawsuit
L'Oreal, the world's largest cosmetics group, has launched legal action against eBay, alleging the online auctioneer does not do enough to combat the sale of counterfeits, the company said on Monday.
CNBC has learned that Maurice "Hank" Greenberg has received a subpoena from the SEC and will be giving his first deposition as part of the SEC’s continuing investigation into what role, if any, he played in alleged accounting improprieties at American International Group.
Merck said Thursday the New Jersey Supreme Court has reversed a lower court ruling that had granted nationwide class-action status to insurers seeking reimbursement for past spending on Vioxx, the drugmaker's withdrawn arthritis treatment.
The Securities and Exchange Commission said Wednesday that Saks Inc. has agreed to settle a lawsuit that Saks Fifth Avenue understated sales to some vendors and didn't record markdowns properly, inflating its earnings.
Mid-America Pipeline Company has pleaded guilty to negligently releasing about 200,000 gallons of ammonia into a Kansas creek.
Chevron Corp., on trial here for allegedly failing to clean up billions of gallons of toxic wastewater in the Ecuadorean jungle, on Monday criticized the judge presiding over the case for creating "obstacles" to a fair trial.
A U.S. court dismissed some claims in a lawsuit filed by Johnson & Johnson over its failed bid for Guidant.
Wachovia Bank, a unit of Wachovia, has sued Thornburg Mortgage for breach of contract over the mortgage lender's failure to pay it $5.1 million.
A state judge in Michigan has sided with Wal-Mart Stores and dismissed a lawsuit by former marketing executive Julie Roehm over her firing, saying the case should be filed in Arkansas.
Sprint Nextel stands to lose a $2 billion investment in a new phone feature if a court bars Qualcomm from making the necessary chips, Qualcomm executives told the court on Thursday.
A group of reporters and their family members whose private telephone records were secretly obtained as part of Hewlett-Packard's boardroom surveillance scheme sued the technology giant and two former executives.
Broadcaster CBS settled its termination dispute with fired radio shock jock Don Imus Tuesday, a possible step toward Imus reviving his multimillion-dollar career with a rival broadcaster.
Johnson & Johnson, the pharmaceutical giant which uses a Red Cross as its trademark, filed a lawsuit Wednesday against the American Red Cross, demanding that the charity halt the use of the red cross symbol on products it sells to the public.
Sharp said on Monday it filed a U.S. lawsuit accusing Samsung Electronics of infringing Sharp's LCD patents, the latest in a series of legal tussles among Asian technology companies.
Bear Stearns and several members of its senior management repeatedly misled investors in two sub-prime hedge funds to keep them from withdrawing money even as the funds were losing much of their value, according to an arbitration claim obtained exclusively by CNBC.
New York State Attorney General Andrew Cuomo filed a lawsuit against ExxonMobil to force the cleanup of a decades-old oil spill in New York City.
A European court confirmed on Tuesday that it will rule on Sept. 17 on whether software giant Microsoft broke European Union antitrust regulations.