A federal judge on Wednesday suspended several new lawsuits that allege banks rigged key interest rates, saying she first needed to sort through the issues in an earlier round of related lawsuits. U.S. District Judge Naomi Reice Buchwald said from …
A long-time Duke Energy Corp. director who led the surprise CEO ouster at the country’s largest electric company said Friday that reasons for the move included a long-delayed update on insurance payments for a troubled Florida nuclear power plant and …
The board of Diamond Foods Inc. failed to properly oversee the snack food company, damaging its reputation and costing it the chance to buy rival Pringles, according to a shareholder lawsuit filed on Wednesday. Diamond Foods has been embroiled in …
A federal judge said on Thursday that shareholders can proceed with a lawsuit accusing Goldman Sachs Group Inc. of concealing conflicts of interest in several collateralized debt obligation transactions, the fallout from which caused Goldman’s stock price to drop. The …
In a rare instance of law firms compensating investors burned in the mortgage meltdown, Greenberg Traurig and Quarles & Brady moved closer on Wednesday to settling a class action that accused them of participating in a $900 million Ponzi scheme. …
A former partner at Dewey & LeBoeuf has sued a group of the law firm’s ex-leaders for fraud, saying they ran the now-bankrupt firm as a Ponzi scheme to benefit themselves. Henry Bunsow, an intellectual property lawyer in San Francisco, …
A judge ruled on Monday that Federal Insurance Co., part of Chubb Group of Insurance Companies, must continue to cover Jerry Sandusky’s defense costs, at least for now. Sandusky is the former Penn State assistant football coach who is accused …
A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse of the former Wall Street investment bank Bear Stearns Cos, court papers show. The settlement resolves claims that Bear, and several officials including former …
Executives at financial firms would no longer be able to buy insurance to protect themselves against compensation clawbacks or civil penalties under legislation introduced on Wednesday by U.S. Representative Barney Frank. The bill, Frank said, is aimed at protecting the …
A federal judge said during a court hearing in New York on Thursday he is prepared to order an insurance company to keep paying the legal fees of several former hedge fund managers and traders caught up in an insider …
