The U.S. Securities and Exchange Commission was dealt a setback in its cases tied to the financial collapse when a federal judge dismissed large parts of its case against former executives at failed mortgage lender IndyMac Bancorp. In a verbal …
ACE USA, the U.S.-based retail operating division of the ACE Group, has enhanced its directors & officers liability policy with a non-mandatory panel counsel option. The ACE Preferred Securities Panel consists of law firms with experience and expertise in handling …
Angry investors are seeing far fewer financial benefits from lawsuits accusing corporate America of securities fraud, but may be on the cusp of a turnaround. The number and size of securities fraud settlements that won final U.S. court approval fell …
A federal appeals court has breathed new life into a lawsuit accusing a Beverly Hills broker-dealer of defrauding nine hedge funds out of nearly $200 million through an international penny stock fraud. The 2nd U.S. Circuit Court of Appeals in …
A federal judge refused on Thursday to throw out a lawsuit accusing General Electric Co and its chief executive of misleading investors about the conglomerate’s financial health and exposure to risky debt during the 2008 financial crisis. The decision by …
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 …
The U.S. Federal Housing Finance Agency said Tuesday it decided to file lawsuits against 17 financial institutions last week because the firms misrepresented the mortgages in securities filings. “At the heart of the suits is FHFA’s conclusion that the actual …
A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to intervene in Bank of America Corp.’s proposed $8.5 billion settlement with investors who lost money on mortgage-backed …
FPIC Insurance Group has agreed to settle a class action shareholder lawsuit clearing the way for its merger with Fountain Acquisition Corp., a wholly-owned subsidiary of The Doctors Co., of California. The Jacksonville, Florida-based FPIC provides medical professional liability insurance …
Insurer American International Group (AIG) is suing Bank of America Corp. to recover more than $10 billion of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank. AIG is still …
