Articles by Andrew G. Simpson

Judge Allows Philadelphia’s Suit Claiming Unfair Lending by Wells Fargo

A federal judge in Philadelphia on Tuesday rejected Wells Fargo & Co.’s bid to dismiss that city’s lawsuit accusing the largest U.S. mortgage lender of predatory lending targeting black and Hispanic borrowers. U.S. District Judge Anita Brody said Philadelphia may …

Appeals Court Thwarts Goldman Shareholders’ Class Action Over Subprime Securities

A U.S. appeals court said a shareholder lawsuit accusing Goldman Sachs Group Inc. of fraudulently claiming to put client interests before its own when creating risky subprime securities before the financial crisis, including a collateralized debt obligation known as Abacus, …

Billionaire Rennert Files Malpractice Lawsuit Over $213M Judgment

Billionaire Ira Rennert has filed a $214 million malpractice lawsuit against his former law firm, after a jury found him liable for looting his magnesium company to build a huge mansion in New York’s Hamptons. Renco Group Inc, Rennert’s holding …

Uber Settles New York Drivers’ Class Action Over Fees for $3 Million

Uber Technologies Inc. agreed to pay up to $3 million to settle a proposed class-action lawsuit brought on behalf of 2,421 drivers in New York who accused the ride-sharing company of docking excessive fees from their fares. A preliminary settlement …

Judge Tosses ‘Underfilled Lattes’ Class Action Against Starbucks

Starbucks Corp. has won the dismissal of a U.S. lawsuit accusing the coffee chain of overcharging customers by underfilling lattes and mochas to reduce milk costs. U.S. District Judge Yvonne Gonzalez Rogers on Friday found a lack of evidence that …

Idaho Ban on Secret Farm Videos Voided by Court

A federal appeals court has declared unconstitutional Idaho’s bans on shooting secret videos and lying to enter factory farms to expose animal abuse, but revived other parts of the state’s law to curb undercover probes into the practice. The decision …

GM Court Win Could Narrow Ignition Switch Liability Litigation

General Motors Co. on Dec. 28 won a court ruling that could reduce the private litigation it faces over flawed vehicle ignition switches, which have been linked to 124 deaths and triggered a big recall. U.S. District Judge Jesse Furman …

Despite Insurance Losses, Berkshire Stock Joins Exclusive Club

Berkshire Hathaway Inc.’s stock price touched $300,000 for the first time on Monday, reflecting investors’ confidence in Warren Buffett’s conglomerate despite four straight quarters of lower operating profit. Crossing the $300,000 threshold put Berkshire’s Class A shares up 22.9 percent …

Insurers Asked to Pay $90 Million to Settle Shareholder Claims Over Fox News Sexual Harassment

Twenty-First Century Fox Inc. has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor Bill O’Reilly. The settlement, …

Berkshire Insurance Units Take Q3 Hit from U.S. Hurricanes, Mexico Earthquake

Bad weather hurt Warren Buffett’s Berkshire Hathaway Inc. in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent drop in profit. Berkshire on Friday said it …