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  • Grant Thornton admitted wrongdoing and will pay a $3 million penalty, as well as forfeit about $1.5 million in audit fees, the SEC said in a release. The audits involved senior housing provider Assisted Living Concepts and alternative energy company Broadwind Energy, the SEC said. Melissa Koeppel, who was involved in the audits for both companies, agreed to pay a...

  • LONDON, Nov 27- Passengers on a British Airways plane that caught fire taking off from Las Vegas in September are suing the makers of the plane and its engines in Chicago, their lawyers said on Friday. Now 65 passengers from the United States, Britain, Northern Ireland, Ireland and Germany are seeking damages from Boeing and engine maker GE for pain, suffering,...

  • Big banks accused of interest rate-swap fixing Thursday, 26 Nov 2015 | 4:08 AM ET
    Wall Street

    A class action lawsuit accuses banks of conspiring to limit competition in the $320 trillion market for interest rate swaps.

  • The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs Group, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, Barclays Plc, BNP Paribas SA, UBS, Deutsche Bank AG, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which...

  • NEW YORK, Nov 25- A class action lawsuit, filed Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US $320 trillion market for interest rate swaps. The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup,...

  • NEW YORK, Nov 25- General Motors Co and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan federal judge ruled on Wednesday. District Judge Jesse Furman found no showing that the automaker and King& Spalding...

  • NEW YORK, Nov 25- General Motors Co and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan federal judge ruled on Wednesday. District Judge Jesse Furman found no showing that the automaker and King& Spalding...

  • The companies had total debt of $13 billion, according to data from law firm Haynes and Boone LLP. Dune Energy Inc 8- Mar $108 mln 0 $108 mln Texas 15-10336. BPZ Resources Inc 9- Mar 0 $238.6 mln $238.6 mln Texas 15-60016.

  • LONDON, Nov 20- Britain's biggest insurers will be exempt from having their most important indicator of financial health externally audited under proposals issued by the Bank of England on Friday. However, the Bank of England's Prudential Regulation Authority, in a consultation paper released on Friday, said big firms that use their own models for...

  • NEW YORK, Nov 6- A near century-old statute that gives New York state prosecutors unusually broad authority to prosecute securities fraud could prove a powerful weapon as Attorney General Eric Schneiderman probes Exxon Mobil Corp over whether the oil firm mislead the public and shareholders about the perils of climate change. The 1921 Martin Act, a...

  • WASHINGTON, Nov 6- The U.S. Supreme Court, taking up a new challenge to President Barack Obama's signature healthcare law, will decide whether religious groups should be freed from a mandate that contraception coverage be provided in employee health insurance plans. The Supreme Court narrowly rejected two major conservative challenges to the law in 2012 and,...

  • Nov 5- Boeing Co said it had agreed to pay $57 million to settle a lawsuit in which employees accused the company of mismanaging their 401 retirement plan. Lockheed Martin Corp paid $62 million to settle a similar lawsuit this year. The U.S. District Court for the Southern District of Illinois will hold a hearing early next year to determine whether to give the...

  • LONDON, Nov 5- Bentham Europe, a litigation funder, said on Thursday it was in contact with Volkswagen's top 200 investors about launching a damages claim in Germany as soon as next February for alleged negligence and breaches of German securities law. Bentham Europe, a joint venture between Australian-listed IMF Bentham and U.S. hedge fund Elliott Management...

  • Boeing to pay $57 mln to settle 401(k) lawsuit Thursday, 5 Nov 2015 | 12:19 PM ET

    Nov 5- Boeing Co has agreed to pay $57 million to settle a lawsuit in which employees accused the company of mismanaging their 401 retirement plan, the plaintiffs' legal firm said on Thursday. Lockheed Martin Corp paid $62 million to settle a similar lawsuit earlier this year. Boeing denied wrongdoing, but settled to avoid the expense and uncertainty of...

  • WASHINGTON, Nov 3- The third quarter of 2015 saw a record $52 billion in merger and acquisition announced deals in the defense and aerospace industry, more than the whole of 2014, according to a report released by the U.S. arm of audit firm PriceWaterhouseCoopers. In August, Warren Buffett's Berkshire Hathaway Inc bought Precision Castparts Corp for $32.3...

  • This year Dentons also merged with Atlanta- based McKenna Long& Aldridge, which had around 400 lawyers. The firm also hailed its moves in Asia as part of a "pivot" toward the region, echoing language used by the White House about U.S. foreign policy strategy. Joseph Andrew, Dentons' global chairman, said in an interview that his understanding was that structure would...

  • The talks follow 3,000- lawyer Dentons' agreement earlier in the year to combine with China's Dacheng Law Offices, whose roughly 4,000 lawyers will help create the world's largest firm when that deal is completed. This year Dentons also merged with Atlanta- based McKenna Long& Aldridge, which had around 400 lawyers. The firm also hailed its moves in Asia as part of...

  • WASHINGTON, Oct 29- U.S. antitrust regulators could push Valeant Pharmaceuticals International Inc to sell part of its specialty contact lens materials business so it would lose the market dominance it built through two acquisitions, antitrust attorneys said. The U.S. Federal Trade Commission is investigating the Canadian drugmaker's purchase of Paragon...

  • Oct 29- A U.S. appeals court on Thursday rejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110- year prison sentence for running what federal prosecutors called a $7.2 billion Ponzi scheme. The 5th U.S. Circuit Court of Appeals in New Orleans turned aside 10 arguments raised by Stanford. Prosecutors said he ran a two-decade...

  • CHICAGO, Oct 29- A judge has rejected an unusual attempt by junior bondholders of Caesars Entertainment's bankrupt operating unit to disqualify law firm Kirkland& Ellis from leading the casino group's $18 billion Chapter 11 restructuring. Jones Day, the junior bondholders' law firm, had asked the court to reconsider a May order that allowed the bankrupt unit of...