Law Lawsuits

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  • Gavel

    A federal judicial panel has agreed to consolidate the 77 lawsuits over the BP oil spill in New Orleans, despite objections from some of the defendants who wanted the cases heard on more neutral territory.

  • student_loan2_200.jpg

    An investigation by the Government Accountability Office (GAO) contends that for-profit colleges encouraged fraud and engaged in deceptive and questionable marketing practices.

  • Citigroup Center

    Citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis, according to two people briefed on the settlement. The New York Times reports.

  • Jeffrey Skilling

    Former Enron CEO Jeffrey Skilling’who is three-and-a-half years into a 24-year prison sentence—wants out of jail while a federal appeals court reconsiders his case.

  • A dead fish coated in heavy oil floats near shore June 4, 2010 near East Grand Terre Island, Louisiana.

    The oil is clearing much faster than expected, but concern remains over the unseen effects. The NYT reports.

  • An oil-stained Sandwich Tern sits on oil absorbent boom in Long Bay on June 19, 2010 west of Port Sulpher, Louisiana. The bird was reported and delivered to the Louisiana Department of Wildlife and Fisheries for rehabilitation.

    As BP transitions to a new CEO, the company is also subtly transitioning to a new, more aggressive strategy when it comes to its liabilities for the Gulf oil spill.

  • Gavel

    A federal appeals panel in New Orleans has refused to order the judge who is presiding over many of the Deepwater Horizon liability cases to recuse himself, even though the judge previously owned bonds issued by two of the companies involved.

  • immigration_protest.jpg

    In nationwide surveys that were conducted in 2008 and 2009, the Pew Center found that 23 percent of Americans said that Hispanics were discriminated against “a lot” in society today.

  • Mary L. Shapiro

    Days after the Securities and Exchange Commission secured a $550 million settlement from Goldman Sachs, the agency’s chairwoman said on Tuesday that the commission was pursuing several other investigations related to the 2008 financial crisis. The NYT reports.

  • Kenneth R. Feinberg

    The administrator of a $20 billion Gulf oil spill compensation fund says fishermen and others with lost income claims would be "crazy" to bypass the fund and take their chances in court.

  • Goldman Sachs CEO Lloyd Blankfein testifies before a Senate investigative committee on Capitol Hill in Washington, DC, April 27, 2010.

    Only weeks ago, as Goldman’s negotiations with federal authorities dragged on and the bad publicity mounted, some speculated that Mr. Blankfein might lose his grip on Goldman.  The NYT reports.

  • Forest River President and CEO Peter Liegl.

    A former executive of Berkshire Hathaway subsidiary Forest River, who claims he "lost his job and had his reputation destroyed" because he followed Berkshire's Code of Business Conduct and Ethics, wants Warren Buffett to be questioned under oath in the case.

  • gavel and money

    The Securities and Exchange Commission has agreed to pay $755,000 to settle a wrongful termination suit filed by a former staff lawyer at the agency who was abruptly fired in 2005 during an investigation into possible insider trading by Pequot Capital Management, a giant hedge fund, and its co-founder, Arthur J. Samberg.

  • Jack Abramoff leaves the federal courthouse in Miami after sentencing in the SunCruz Casinos fraud case, Florida.

    Like any new employee, Jack Abramoff is trying to keep a low profile — or as low a profile as a cause célèbre disgraced lobbyist and convicted felon can keep when news cameramen keep staking out his new workplace. The NYT reports.

  • Frank DiPascali

    Frank DiPascali, Bernie Madoff's right-hand man, is free on bail Tuesday after months of incarceration.

  • A sign warns the public away from the beach on Grand Isle, Louisiana. With oil covering many of the beaches, officials closed them to the public indefinitely on Saturday. Officials now say that it may be impossible to clean the coastal wetlands affected by the massive oil spill that continues gushing in the Gulf of Mexico.

    BP deserves acknowledgement for the claims it has made to date to the Gulf of Mexico region and its residents and its agreement last week with the government to pay out some $20 billion, Ken Feinberg, BP escrow account administrator, told CNBC Monday.

  • home loans

    The Justice Department says it has made the arrests since March, in a probe of mortgage fraud called Operation Stolen Dreams.

  • Thomas Pritzker, Chairman of Global Hyatt Corporation

    Despite all the bad headlines — the accusations of fraud, the talk of a big settlement, the risk, however remote, of criminal charges — there’s an inconvenient truth that’s been largely ignored: Most of Goldman’s big customers are not bolting. The NYT explains.

  • Jeffrey Gundlach was at the top of his game last fall, managing over $70 billion in bond fund assets for his long-time employer, TCW.

  • Crisis_In_The_Gulf_badge.jpg

    About 6,000 claims in total have been filed against BP since its massive oil spill in the Gulf of Mexico.