Law Lawsuits

  • SAN FRANCISCO, Feb 21- Two Democratic U.S. senators called for the Federal Trade Commission to act on a complaint filed by consumer groups against Facebook Inc on Thursday that alleged the company scammed children into spending money on its platform. The social media company settled a class-action lawsuit on the issue in 2016, but further details came to light...

  • SAN FRANCISCO, Feb 21- Two Democratic U.S. senators called for the Federal Trade Commission to act on a complaint filed by consumer groups against Facebook on Thursday that alleged the company scammed children into spending money on its platform. The social media company settled a class action lawsuit on the issue in 2016, but further details came to light last...

  • NEW YORK, Feb 21- The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. Philadelphia, which said it issued more than $1.6 billion of the bonds, said the banks colluded to collect...

  • NEW YORK, Feb 21- The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. In a complaint filed on Wednesday night, Philadelphia accused Bank of America Corp, Barclays Plc, Citigroup Inc,...

  • NEW YORK, Feb 21- A U.S. judge has rejected Credit Suisse Group AG's bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt. District Judge Lorna Schofield in Manhattan was made public on Wednesday. The lead plaintiffs are four pension and...

  • SContainers of Johnson's baby powder made by Johnson and Johnson are displayed on a shelf

    Johnson & Johnson has received subpoenas from the Justice Department and the SEC related to litigation involving alleged asbestos contamination in its Baby Powder line.

  • Feb 20- Johnson& Johnson said Wednesday it has received subpoenas from the U.S. Justice Department and the Securities and Exchange Commission related to litigation involving alleged asbestos contamination in its signature Baby Powder product line. The Justice Department declined to comment and the SEC did not immediately respond to requests for comment.

  • R. Allen Stanford and Bernard Madoff

    The SEC shut down R. Allen Stanford's operations 10 years ago this week. As with Madoff, it missed warning signs of the $8 billion fraud for years.

  • NEW YORK, Feb 20- A U.S. judge has rejected Credit Suisse Group AG's bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt. District Judge Lorna Schofield in Manhattan was made public on Wednesday. The lead plaintiffs are four pension and...

  • President Donald Trump declares a national emergency at the U.S.-Mexico border during remarks about border security in the Rose Garden of the White House in Washington, February 15, 2019.

    In at least three federal court lawsuits, lawyers have seized on the president's remark during the press conference he "didn't need to" declare a national emergency.

  • NEW YORK, Feb 18- Papa John's International Inc founder John Schnatter welcomes hedge fund Starboard Value LP's investment in the pizza restaurant chain, his lawyer said, even as he filed an updated lawsuit on Monday against the company. Papa John's this month unveiled Starboard's investment of up to $250 million and named the fund's chief executive, Jeff Smith,...

  • Keystone XL pipeline sections in Little Rock, Ark. The pipes were manufactured by Welspun in Arkansas. The steel, however, was sourced from various countries.

    A federal judge in Montana says TransCanada remains mostly blocked from doing work that will move forward construction on Keystone XL.

  • Large withholdings may yield large refunds, but one Florida man took this to the extreme. Here's how he managed to scoop up a large check from the IRS — and why you shouldn't try this.

  • Feb 13- Imerys Talc America, the U.S. unit of French group Imerys SA and a supplier to healthcare conglomerate Johnson& Johnson Inc, on Wednesday said it was filing for Chapter 11 bankruptcy protection in light of rising costs in the litigation over cosmetic talc. "After carefully evaluating all possible options, we determined that pursuing Chapter 11 protection...

  • People shop in an Apple retail store in Grand Central Terminal, January 29, 2019 in New York City.

    Before his termination in September, Levoff was "responsible for Apple's compliance with securities laws," the SEC complaint says.

  • Najib's lawyer: Postponement of trial is not caused by us

    Muhammad Shafee Abdullah, lawyer for former Malaysian Prime Minister Najib Razak, says some witnesses who testified in court have now "turned turtle." He also says the prosecution is attempting to move forward with "unholy haste" after bringing new charges against the former leader, but without giving the defense enough time to prepare.

  • Feb 11- U.S. glass container maker Owens-Illinois Inc has sued Venezuela and state-owned companies as it seeks to collect a $500 million arbitration award over the 2010 nationalization of two plants, according to a lawsuit filed on Monday. Owens-Illinois was granted the award in 2015 by the International Centre for Settlement of Investment Disputes, which...

  • There's a 'real chance' of Malaysia's government splitting

    Harrison Cheng of Control Risks explains why he says there's a real chance that Malaysia's ruling coalition government could split "from within," especially when it gets closer to the time when political icon Anwar Ibrahim is expected to take over as prime minister.

  • Amazon.com founder and CEO Jeff Bezos.

    It was "pure extortion" the way "anybody in the court of law or Webster's dictionary defines extortion," management expert Jeffrey Sonnenfeld says.

  • The Lockheed Martin Corp. facility in Fort Worth, Texas.

    The U.S. has sued Lockheed Martin, Lockheed Martin Services, and Mission Support Alliance, as well as a Lockheed executive for alleged false claims and kickbacks on a multibillion-dollar contract to clean up a nuclear site, the Justice Department said on Friday.