Articles by Alex Veiga

Goldman Faces Damages Suit Over Failed Credit Unions

The U.S. regulator of credit unions this week sued Goldman Sachs & Co. for more than $491 million in damages over losses incurred by two failed credit unions that purchased mortgage-backed securities underwritten by the investment bank. The complaint filed …

LA Jurors Award $3.3 Million to Banana Workers in Pesticide Case

A jury awarded $3.3 million to six workers who claimed they were left sterile by a pesticide used at a banana plantation in Nicaragua operated by Dole Fresh Fruit Co. The workers’ lawsuit accused Dole and Standard Fruit Co., now …

Mattel Says Fallout from Recalls Could Continue into Holiday Season

Mattel Inc., which spent much of the past quarter dealing with fallout from massive toy recalls, said that the impact could hurt sales during the quarter that includes the holidays, even though it saw its third-quarter profit slip only 1 …

Family Suing Mattel, Seeking Payment for Lead Testing

A California family has sued Mattel Inc., claiming the world’s largest toy maker should pay for testing to determine if children have been exposed to lead from millions of recalled toys. The lawsuit, which seeks class-action status, was filed Monday …

Geico Cutting Auto Rates for some California Customers

Geico General Insurance Co. will cut auto insurance rates for some of its California policyholders by an average of 10.8 percent to comply with state rules requiring rates to be primarily determined by driving records, state insurance officials said. The …

French Billionaire Denies Conspiring to take over Executive Life

Through two different translators, French mogul Francois Pinault sought to make one point universally clear to the federal jury hearing the civil suit over failed insurer Executive Life: He did nothing wrong. Testifying in U.S. District Court on April 5 …

Garamendi Testifies in Executive Life Lawsuit

A photo taken in a restaurant 13 years ago captured the occasion–a deal signed by California’s chief insurance regulator that ultimately paved the way for the sale of insurer Executive Life to a group of French investors. But the executives …

Garamendi Testifies in Executive Life Lawsuit

A photo taken in a restaurant 13 years ago captured the occasion—a deal signed by California’s chief insurance regulator that ultimately paved the way for the sale of insurer Executive Life to a group of French investors. But the executives …