Now, another big case- against Bank of America over its acquisition of Merrill Lynch- looks headed the same way. The 2010 case, one of the highest profile lawsuits brought by Andrew Cuomo when he was New York attorney general, accuses Bank of America and former top executives Ken Lewis and Joseph Price of misleading shareholders about Merrill Lynch's losses.
NEW YORK, May 3- When New York Attorney General Eric Schneiderman gave up a claim for damages against former AIG chief Hank Greenberg, he also likely neutralized a long-awaited challenge to his office's power. New York's highest court is scheduled to hear arguments later this month in the case, in which Greenberg is accused of defrauding AIG investors.
NEW YORK, April 25- New York's attorney general is dropping a claim for damages in a high-profile civil lawsuit accusing the former chief executive of American International Group Inc, Maurice "Hank" Greenberg, of defrauding investors, according to a letter sent by the attorney general's office on Thursday.
*SEC argued clock starts ticking from when fraud discovered. WASHINGTON, Feb 27- The U.S. Supreme Court on Wednesday limited the authority of the Securities and Exchange Commission to seek civil penalties over conduct that occurred more than five years before investigators took action.
The SEC said it starts when the agency is reasonably able to detect fraud. The SEC claimed that Gabelli and Alpert violated the law from 1999 to 2002. But the agency did not sue Gabelli and Alpert until April 2008, nearly five years later, and more than five years after it said the last market-timing trade occurred.
*A victory for SEC could boost investigatory powers. *Critics say SEC victory could harm defendants. A victory for the SEC could give the regulator and others, including the U.S. Department of Justice and U.S. Commodity Futures Trading Commission, more firepower in civil cases.
The case involved whether the SEC waited too long to sue mutual fund manager Marc Gabelli and his colleague Bruce Alpert, chief operating officer of Gabelli Funds LLC, over a client's questionable trades.
NEW YORK, Jan 7- New York Attorney General Eric Schneiderman cannot stop a $115 million settlement between American International Group Inc shareholders and the insurer's former chief executive and others, a U.S. judge ruled on Monday.
Dec 18- The company whose AR-15 type Bushmaster rifle was used in the Newtown school massacre in Connecticut will be immediately put up for sale, its private equity owner Cerberus Capital Management LP said on Tuesday in response to investor concerns.
Dec 18- Following pressure from a major investor, U.S. private equity firm Cerberus Capital Management is selling gunmaker Freedom Group, whose Bushmaster AR-15 rifle was used in the Connecticut school massacre last week.
Zucker, who will leave his producing role on Katie Couric's syndicated television talk show, will succeed Jim Walton, and report to Phil Kent, chairman and chief executive of CNN parent Turner Broadcasting System. Other potential candidates mentioned in the press included Mark Shapiro, the former CEO of Dick Clark productions and NBC News chief Steve Capus.
Zucker, who will leave his producing role on Katie Couric's syndicated television talk show in January, will succeed Jim Walton, and report to Phil Kent, chairman and chief executive of CNN parent Turner Broadcasting System.
Nov 29- Time Warner Inc on Thursday named Jeff Zucker, a former top executive at NBC, as president of its cable news network, CNN Worldwide, beginning in January.