Britain’s accounting regulator on Thursday fined KPMG a record 21 million pounds ($26 million) for a “textbook failure” in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards. The collapse …
The U.S. Supreme Court on Friday agreed to consider whether shareholders can sue companies for fraud when they flout a rule requiring them to disclose trends expected to affect their bottom line in a case involving a suit by hedge …
U.S. authorities are seeking evidence from Credit Suisse to assess whether the bank misled investors about its financial health as it teetered towards a state-backed rescue by UBS six months ago. Credit Suisse “has received requests for documents and information” …
A Credit Suisse unit has been ordered to pay billionaire Bidzina Ivanishvili reduced damages of $742.7 million by a Singapore court as it confirmed that the bank’s trust had failed to safeguard its client’s assets. The amount was revised down …
Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday. Ericsson and CEO Boerje …
Tesla Inc.’s directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a …
A Swiss investors’ association is planning to file a lawsuit seeking compensation for former Credit Suisse shareholders, the latest legal action triggered by the bank’s emergency takeover by its cross-town rival UBS UBSG.S. “Due to the large number of inquiries, …
A German court will call former Volkswagen AG executives as witnesses in a €9 billion ($9.8 billion) investor lawsuit over the diesel emissions scandal to find out what the top brass knew about the the so-called defeat device used in …
Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a …
A U.S. judge on Monday granted preliminary approval to JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. The approval …
