Bank of America Corp. won a victory when a U.S. appeals court ruled that a proposed $8.5 billion settlement with investors in mortgage-backed securities should be reviewed in New York state court, not federal court. Bank of America, the nation’s …
U.S. corporations asked the government to explain what it considers a bribe of a foreign official, saying the lack of clarity has had a chilling effect on business. The Chamber of Commerce and dozens of other trade groups wrote a …
California and New York, two key holdout states for a multi-state mortgage settlement, are expected to join the deal, smoothing the way for an announcement expected on Thursday, according to a person familiar with the matter. Florida, with its large …
A proposed mortgage settlement in the works for more than a year will move forward with more than 40 states joining the deal before a Monday deadline, Iowa Attorney General Tom Miller said in a statement. States had been given …
Citigroup Inc. was sued for fraud by Loreley Financing over nearly $1 billion worth of collateralized debt obligations purchased in 2006 and 2007. Citigroup is accused of defrauding Loreley into purchasing “fraudulent investments that are now worthless,” Loreley said in …
Ernst & Young LLP has been sued for $900 million by the liquidators of a fund that once funneled money to the now-imprisoned swindler Bernard Madoff. The lawsuit, filed on behalf of M-Invest Ltd, accused Ernst & Young of negligence, …
Investors want to lift the “shroud of secrecy” over the proposed $8.5 billion settlement of Bank of America Corp.’s mortgage-backed securities liability in the coming weeks, a lawyer said last week. Dan Reilly, a Colorado lawyer representing American International Group …
A lawsuit against Charles Schwab Corp. over auction-rate securities that was filed by former New York Attorney General Andrew Cuomo was thrown out by a state court judge. The 2009 lawsuit accused the San Francisco-based discount brokerage of fraud in …
