Articles by Jonathan Stempel

AIG Loses Appeal Over Foreign Tax Credits

A U.S. appeals court on Wednesday rejected efforts by American International Group Inc. and Bank of New York Mellon Corp. to recoup hundreds of millions of dollars of foreign tax credits that the Internal Revenue Service did not allow. By …

Court OKs One BP Shareholder Class Action But Denies Another

BP Plc must face institutional investors’ claims for more than $2.5 billion in market losses caused by the plunge in share prices after the 2010 Gulf of Mexico oil spill, a federal appeals court ruled. The U.S. Court of Appeals …

10 Automakers Sued Over Claims of Deadly Fumes from Keyless Ignitions

Ten of the world’s biggest automakers were sued on Wednesday by consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million vehicles equipped with keyless ignitions, leading to 13 deaths. According to the complaint …

Judge Approves Exxon’s $225M New Jersey Pollution Settlement

Exxon Mobil Corp’s $225 million settlement with the administration of New Jersey Governor Chris Christie of a longstanding environmental pollution case won approval on Tuesday from a state judge, over the objections of critics who called the accord a sellout. …

Court Says FTC Has Power to Regulate Corporate Cybersecurity

A U.S. appeals court said the Federal Trade Commission has authority to regulate corporate cyber security, and may pursue a lawsuit accusing hotel operator Wyndham Worldwide Corp. of failing to properly safeguard consumers’ information. The 3-0 decision by the 3rd …

Taxi Companies’ Lawsuit Against Uber in Connecticut Dismissed

Uber Technologies Inc on Thursday won the dismissal of a racketeering lawsuit by 15 Connecticut taxi and limousine companies seeking to stop the ride-sharing company from doing business in the state. U.S. District Judge Alvin Thompson in Hartford, Connecticut, said …

N.Y. Law Firm Skadden May Be Required to Pay Overtime for Temp Attorneys

A federal appeals court said on July 23 the New York law firm Skadden, Arps, Slate, Meagher & Flom may owe overtime pay to a contract lawyer for performing non-legal work, a decision that could make it more costly for …

Lehman Exec Defeats Employee Lawsuit Over Retirement Losses

A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. …

Corzine, Ex-MF Global Officials Agree to Settle Investor Lawsuit for $64.5M

Jon Corzine and other former MF Global Holdings Ltd officials have reached a $64.5 million settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage’s 2011 bankruptcy. The preliminary all-cash settlement with Corzine, who …

Insurance Claims Specialist Wins $230K in Robocall Complaint Against Time-Warner

Many people dislike receiving robocalls. Araceli King disliked receiving 153 of them from a single company. Time Warner Cable Inc. must pay the insurance claims specialist $229,500 for placing 153 automated calls meant for someone else to her cellphone in …