Articles by Jonathan Stempel

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 …

Court Orders Travelers to Pay $500M in Johns-Manville Asbestos Claims

A federal appeals court on Tuesday ordered Travelers Cos. Inc. to pay more than $500 million to satisfy asbestos-related claims stemming from the insurer’s coverage of insulation maker Johns-Manville Corp., a policyholder that spent six years in bankruptcy during the …

Judge Allows $1B Malpractice Claim Against PwC Over MF Global Collapse

A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former New …

U.S. Appeals Court Revives WTC Cleanup Workers’ Health Claims

A federal appeals court in New York has revived claims by 211 cleanup workers who sought compensation for their alleged exposure to toxic contaminants in buildings near the World Trade Center site after the Sept. 11, 2001, attacks. The 2nd …

Court Tosses Liability Claims Against Painkiller Drugmakers

A federal appeals court on Friday upheld the dismissal of nearly all claims in 68 cases seeking to hold drug makers liable for injuries from the use of the prescription painkillers Darvon and Darvocet, which were pulled from the U.S. …