Plaintiffs in one of the biggest U.S. investor lawsuits stemming from the financial crisis got a boost from a judge, who said a case against fallen investment bank Bear Stearns and its outside auditor, Deloitte & Touche, can go forward. …
The Securities and Exchange Commission (SEC) has charged that five individuals, including a former investment banker at Goldman Sachs & Co., illegally tipped or traded on confidential information ahead of an announcement in April 2008 that Liberty Mutual Insurance Co. …
The U.S. Securities and Exchange Commission has rejected an attempt by a Bernard Madoff customer to get the agency to pay $1.7 million she lost in the fraud, setting the stage for a federal lawsuit, the investor’s lawyer said Tuesday. …
U.S. activist investors are seeking to oust board members at beleaguered banks whom they blame for helping cause the companies’ financial woes, setting the stage for drama at upcoming annual shareholder meetings. With their stock prices decimated over the past …
AIG executives in Europe are adamant they should not have to return their controversial bonuses and some feel that pressure on them to do so may amount to blackmail, according to a company employee and internal emails. AIG Financial Products …
A U.S. corporate directors’ group this week recommended a slate of new governance principles for company boards, including better communication with investors on executive pay and improved oversight of business risks. The recommendations by the National Association of Corporate Directors …
An AIG unit and Countrywide Financial Corp., now part of Bank of America Corp., have sued each other, alleging breach of contract, in a dispute over insurance losses for subprime mortgage loans now in default. American International Group Inc.’s United …
Aggrieved investors in Lehman Brothers Holdings Inc. have added new legal claims in what is sure to be one of the most closely watched lawsuits of the mortgage crisis, accusing company insiders and others of misleading them before the firm …
U.S. law firms, anticipating a huge rise in lawsuits and other legal work spurred by the economic crisis, are creating task forces to advise financial firms, investment funds and local governments to deal with the turmoil. The financial market woes …
A public pension fund has sued the chief executive and board of American International Group Inc, accusing them of mismanagement and “grossly imprudent risk taking” that led to the insurer’s $85 billion government rescue this week. The lawsuit was brought …
