Articles by Jonathan Stempel

Viacom to Pay $7.2M to End Wage Lawsuit by Thousands of Interns

Viacom Inc agreed to pay $7.21 million to settle a class-action lawsuit by thousands of former interns who said the owner of Comedy Central, MTV and Nickelodeon did not pay them, despite their having done work similar to paid employees. …

Securities Class Action Lawsuits, Settlements Get Smaller

The size of federal class action lawsuits accusing companies of securities fraud has dropped significantly, new studies show, as the bull market in stocks approaches its sixth birthday. Losses claimed by shareholders, measured by how much stock prices fell when …

Another Setback for Sirius XM in Turtles Copyright Case

A New York federal judge on Thursday largely rejected Sirius XM Holdings Inc’s request to reconsider her Nov. 14 decision in favor of members of the 1960s band The Turtles over the payment of royalties for songs made before 1972. …

BP, Anadarko Lose Appeal Over Gulf Oil Spill Fines

BP Plc and Anadarko Petroleum Corp. narrowly failed to persuade a U.S appeals court to reconsider its 2014 ruling that they could face civil fines under federal pollution laws over the 2010 Gulf of Mexico oil spill. By a 7-6 …

Banks Get OK for Suit Against Target to Recoup Data Breach Costs

A federal judge on Tuesday rejected Target Corp.’s bid to dismiss a lawsuit by banks seeking to recoup money they spent reimbursing fraudulent charges and issuing new credit and debit cards because of the retailer’s late 2013 data breach. U.S. …

Judge Dismisses Racial Bias Claim by 10 ‘American Idol’ Contestants

A federal judge on Thursday dismissed a lawsuit by 10 black male contestants on “American Idol” who accused the singing competition show, its producers, sponsors, and the Fox television network of racial discrimination. The plaintiffs, who competed between 2003 and …

N.Y. Court: Author Michael Lewis Did Not Libel Money Manager in ‘The Big Short’

The author Michael Lewis did not libel a money manager in his 2010 best-seller “The Big Short,” a divided federal appeals court ruled on Friday. By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals in New York rejected …

Court Frees Goldman from Paying Ex-VP’s Legal Fees

Goldman Sachs Group Inc. should not have been ordered to pay former programmer Sergey Aleynikov’s legal fees to defend against criminal charges that he stole secret code from the bank’s computers, a divided federal appeals court ruled on Wednesday. All …

Advice to Bankrupt MF Global Could Cost Accounting Firm $1 Billion

A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd., a brokerage run by former New Jersey …

U.S. Loses Bid to Dismiss $25B Lawsuit Over AIG Bailout

A federal judge has rejected the United States’ bid to dismiss a more than $25 billion lawsuit filed by Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., over the insurer’s government bailout, clearing the way for …