DOVER, Del.— Delaware's Supreme Court has upheld the dismissal of a lawsuit filed by General Motors shareholders over faulty ignition switches. After hearing arguments this week, the court affirmed a judge's ruling from last summer. The company said last year that the scandal, which prompted hundreds of lawsuits and a federal criminal probe, has cost it more than...» Read More
Shares of Google and Apple edged higher in pre-market trading after a federal court judge dismissed a patent lawsuit against the tech giants brought by Microsoft co-founder Paul Allen.
For two years, the two sons of jailed financier Bernard Madoff portrayed themselves as honest whistleblowers of their father's historic fraud. A court-appointed trustee depicted them as bungling money managers who did nothing to protect investors.
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested, the New York Times reports.
We knew immediately this was going to be the largest fraud ever, by a long shot. And it was. $18 billion. Almost ten times larger than any other Ponzi scheme. It became clear very early that the direct Madoff investors were doomed.
In late 2006, the German engineering giant Siemens, one of world’s largest companies, was engulfed in a corruption scandal.
Newly released documents detail 12 years of fits and starts at the Securities and Exchange Commission as financier Allen Stanford was allegedly running a global Ponzi scheme.
The environmental group Greenpeace filed a lawsuit in US district court in Washington Monday accusing the Dow Chemical Company, a smaller chemical manufacturer, and several other defendants of engaging in a years-long campaign of corporate espionage against Greenpeace and other players in the environmental movement.
On Wednesday, the Consumer Product Safety Commission is scheduled to vote to create a new, publicly accessible database of safety complaints that is intended to make it easier for consumers to learn about problems with a product, the New York Times reports.
Wells Fargo will pay Citigroup $100 million to settle a legal dispute over the contentious 2008 purchase of Wachovia, the companies said on Friday.
Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with major lenders over revamped foreclosure practices was not imminent. The New York Times reports.
When Sam Keller, a former quarterback at Arizona State, sued the video game publisher Electronic Arts last year, he was seeking compensation for himself and other college athletes whose names were not used but whose images he contended were being illegally used by the company. The New York Times reports.
Congress and financial-market regulators are revamping a reward system for whistle-blowers, offering big payouts for tips about a host of securities and commodity law violations, to be doled out from a new $451 million fund. The New York Times reports.
The destruction of MERS will simply result in another bailout.
Large banks, hedge funds and private investors hungry for new and lucrative opportunities are pumping hundreds of millions of dollars into medical malpractice claims, divorce battles and class actions against corporations — all in the hope of sharing in the potential winnings.
Having sex on the copy machine is apparently just a part of a normal day at Chase Manahattan's South Richmond Hill, Queens Branch.
When Congress comes back into session next week, it may consider measures intended to bolster the legal status of a controversial bank-owned electronic mortgage registration system that contains three out of every five mortgages in the country.
Over the last few months, Kaplan and other for-profit education companies have come under intense scrutiny from Congress, amid growing concerns that the industry leaves too many students mired in debt, and with credentials that provide little help in finding jobs. The New York Times reports.
The Supreme Court seemed wary about a business-backed challenge that could make it almost impossible for consumers to band together to make claims against their cell phone carriers, cable providers and credit card companies.
Industry regulators have fined Goldman Sachs $650,000 for failing to disclose that two of its brokers, including the executive accused of leading the mortgage securities deal that brought civil fraud charges against the firm, were under investigation by the government.
Do-it-yourself house possession cases have been popping up all over the country — and these self-proclaimed owners play an odd role in a real-estate mess that never seems to end. The NYT reports.