NEW YORK/ BOSTON, Dec 5- JPMorgan Chase& Co is warning some 465,000 holders of prepaid cash cards issued by the bank that their personal information may have been accessed by hackers who attacked its network in July. JPMorgan said on Wednesday it had detected that the web servers used by its site www.ucard.chase.com had been breached in the middle of September.» Read More
Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.
The top U.S. securities regulator plans to propose a new short selling rule in the next few weeks which would be broader than an emergency order covering just 19 financial stocks which ended last week
Short trading in 19 major U.S. financial stocks will revert to rules governing other shares Wednesday as a Securities and Exchange Commission experiment against abusive short selling expires.
Following are Thursday's biggest winners and losers. Even with today's rough market, there were a number of pops, such as an internet florist, a Canadian fast food chain and a certain star athlete making the move to the Big Apple.
Melissa Lee reports a breaking story linked to Citi's settlement and buyback of auction rate securities during tonight's "Fast Money." In an after-hours announcement, another Wall Street giant, Merrill Lynch, stated it too would buy back auction rate securities from its retail clients, who currently hold $12B of those questionable securities.
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.
A Chinese court has rejected an appeal by France's Groupe Danone in a legal battle with estranged partner Hangzhou Wahaha Group over ownership of the "Wahaha" trademark, China's best-known soft-drink brand, the companies said on Tuesday.
China has fleshed out its landmark anti-monopoly law, specifying turnover thresholds that will trigger a government review of proposed mergers.
Connecticut Attorney General Richard Blumenthal said Wednesday he will take legal action against the three major rating agencies, which he accused of "deceptive and unfair practices."
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.
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."
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.
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.
A grand jury subpoena sent by prosecutors in the Bronx earlier this year sought information to help identify people blogging anonymously on a Web site about New York politics called Room 8. The subpoena carried a warning in capital letters that disclosing its very existence “could impede the investigation being conducted and thereby interfere with law enforcement” — implying that if the bloggers blabbed, they could be prosecuted.
U.S. securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae, Freddie Mac and Lehman Brothers.
Cramer last week offered up his prediction of potential winners from the new Medicare bill -- the one that passed in the Senate yesterday. (President Bush has said he'll veto -- but it already passed by a veto-proof margin.) The good news is that Fresenius Med (FMS), Cramer's fave of the bill, got bumped to a 52-week high today with three points. But what about the losers of the Medicare bill -- the new offenders headed for the Sell Block?