Articles by Jonathan Stempel

S&P Loses Bid to Keep 16 States’ Lawsuits Over Ratings in Federal Court

Standard & Poor’s suffered a defeat on Tuesday in litigation accusing it of issuing misleading credit ratings prior to the 2008 financial crisis, as a federal judge ruled that lawsuits by 16 U.S. states and Washington, D.C. belong in state …

Judge Rejects Ex-AIG CEO Greenberg’s Bid to Avoid Trial

A New York state judge has rejected a request by Maurice “Hank” Greenberg, the former American International Group Inc. chief executive officer, to dismiss a long-running civil lawsuit by the state’s attorney general. Greenberg, now 89, and former AIG Chief …

Bank of America Off Hook for Allegedly Hiding AIG Lawsuit: Court

A federal appeals court said Bank of America Corp. was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc., whose filing led to a 20-percent one-day plunge in the bank’s stock price. …

Judge Grants Dow Jones Injunction Against ‘Hot News’ User of Its Content

Dow Jones & Co has won a court order to stop the London-based service Ransquawk from broadcasting its news content within seconds of publication, without permission, to traders and other subscribers. It is unclear how the permanent injunction granted late …

Judge Denies New York Fed Employee Whistleblower Protection Over Firing

A federal judge on Wednesday dismissed a lawsuit against the Federal Reserve Bank of New York by a former bank examiner who claimed the Fed fired her after she refused to change certain findings about Goldman Sachs Group Inc. U.S. …

Court Dismisses Ex-AIG CEO Greenberg’s Bailout Lawsuit Against New York Fed

A federal appeals court upheld the dismissal of a lawsuit by former American International Group Inc. CEO Maurice “Hank” Greenberg accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer in the 2008 financial crisis. The …

Court Dismisses Ex-AIG CEO Greenberg’s Bailout Lawsuit Against New York Fed

A federal appeals court upheld the dismissal of a lawsuit by former American International Group Inc Chief Executive Maurice “Hank” Greenberg accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer at the height of the …

Massachusetts Pharmacy to Pay $100M to Victims of Meningitis Outbreak

Owners and insurers of a now-bankrupt Massachusetts pharmacy linked to a deadly meningitis outbreak have agreed to pay more than $100 million to compensate victims, families of victims and creditors. The preliminary settlement announced on Monday, which requires court approval, …

Cantor Fitzgerald, American Airlines Settle 9/11 Lawsuit

Cantor Fitzgerald has agreed to settle a lawsuit against American Airlines Group Inc and its insurers over business and property losses stemming from the Sept. 11, 2001, attacks on the World Trade Center, in which the Wall Street company lost …

Court Shields Developers From Terrorism-Related Damages in 9/11 Case

A federal appeals court in New York has given developers and builders of high-rises and other buildings added protection from lawsuits over property losses linked to terrorism, in a case stemming from the Sept. 11, 2001 attacks. A divided panel …