Articles by Jonathan Stempel

Judge Rejects PwC Bid to Dismiss $1B Malpractice Suit Over MF Global Collapse

A federal judge rejected PricewaterhouseCoopers’ bid to dismiss a $1 billion lawsuit accusing the accounting firm of professional malpractice for helping cause the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage once run by former New Jersey Governor …

Pfizer Agrees to $486M Settlement with Shareholders Over Concealing Drug Risks

Pfizer Inc. on Tuesday said it has reached a $486 million settlement of litigation accusing it of causing big losses for shareholders by concealing safety risks associated with its Celebrex and Bextra pain-relieving drugs. The accord is subject to negotiation …

Judge Hits Uber’s Background Check on Passenger Bringing Price-Fixing Suit

A federal judge on Monday banned Uber Technologies Inc. and its Chief Executive Travis Kalanick from using information from a background check on a passenger bringing a price-fixing lawsuit, saying the investigative firm conducting the probe may have engaged in …

Court Rejects Wal-Mart Shareholders’ Claim of Directors’ Liability for Mexican Bribes

Wal-Mart Stores Inc. executives and directors persuaded a federal appeals court on Friday to reject shareholder claims that they permitted and then covered up pervasive bribery by officials at the world’s largest retailer’s Mexico unit. By a 3-0 vote, the …

Most Litigation Over Corzine’s Failed MF Global Settled with $132M Deal

Jon Corzine has settled a lawsuit by the trustee for the former New Jersey governor’s company MF Global Holdings Ltd, as part of a $132 million accord to end much of the remaining litigation over the brokerage’s 2011 collapse. Lawyers …

U.S. Can’t Seize Manhattan Building Over Iranian Terror Claims: Court

A federal appeals court said on Wednesday the U.S. government cannot seize a midtown Manhattan office tower originally built by the Shah of Iran, whose owners it claimed were fronts for the Iranian government. The 2nd U.S. Circuit Court of …

Wells Fargo Beats Appeal Over Voided Money Store Verdict

A federal appeals court on Friday rejected a bid to revive a $54.8 million jury verdict against Wells Fargo & Co, saying the trial judge had authority to take the “drastic step” of decertifying the class action after the award …

Buffett Gives $2.8 Billion in Shares to Charities Including Gates Foundation

Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., has donated another roughly $2.86 billion of his holdings in the company’s stock to the Bill & Melinda Gates Foundation and four family charities, as part of his plan to give …

Fox News’ Ailes Says Anchor’s Harassment Suit Against Him Belongs in Arbitration

Lawyers for Fox News chairman Roger Ailes on Friday asked a judge to halt anchor Gretchen Carlson’s “shameless publicity campaign” against her former boss, and send her sexual harassment lawsuit against him to arbitration in accordance with her employment contract. …

Applied Underwriters’ Workers’ Comp Business Faulted by California Regulator

California’s insurance commissioner said in late June a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers’ compensation costs. Commissioner Dave Jones faulted Berkshire’s Applied Underwriters Inc. and California Insurance Co. units over the …