Articles by Jonathan Stempel

Norfolk Southern Wins Dismissal of Bondholder Lawsuit Over Ohio Train Drailment

A federal judge on Thursday dismissed a lawsuit accusing Norfolk Southern NSC.N of causing hundreds of millions of dollars of losses for bondholders by concealing safety risks prior to the February 2023 derailment in East Palestine, Ohio of a train …

Meta Must Face Lawsuit Claiming it Prefers Cheaper Foreign Workers

A federal judge on Tuesday said Meta Platforms must face a lawsuit claiming that the Facebook and Instagram parent prefers to hire foreign workers because it can pay them less than American workers. U.S. Magistrate Judge Laurel Beeler in San …

Berkshire Hathaway Removes Diversity and Inclusion From Annual Report

Warren Buffett’s Berkshire Hathaway on Saturday joined a growing list of American companies to publicly change their approach to discussing their commitment to diversity and inclusion. Berkshire’s annual report includes a section describing how the conglomerate’s 189 operating businesses, which …

Buffett’s Berkshire Posts Record Profit on Insurance, Investments

Warren Buffett’s Berkshire Hathaway on Saturday said operating profit set a record in the fourth quarter and for the third straight calendar year, bolstered by improved underwriting and higher investment income in its insurance businesses. Much of that income came …

Intel Resolves Antisemitism Lawsuit, Case Is Dismissed

A Jewish former employee of Intel has resolved his lawsuit accusing the chipmaker of firing him after he complained about an openly antisemitic supervisor, the former employee’s lawyer said on Thursday. Lawyers for Intel and the anonymous plaintiff John Doe, …

New York Sues Vape Distributors for Fueling Teen Epidemic

New York sued several large e-cigarette manufacturers, distributors and retailers on Thursday, saying they fueled a youth vaping epidemic by selling products with cartoonish packaging and flavors such as Baja Slushie, Strawberry Cereal Donut Milk and OMG Blow Pop. Letitia …

Starbucks Sued by Missouri Over DEI, Race and Gender Bias

Starbucks SBUX.O was sued on Tuesday by the U.S. state of Missouri, which accused the coffee chain of using a commitment to diversity, equity and inclusion as a pretext to systematically discriminate based on race, gender and sexual orientation. In …

Edison Utility Faces Shareholder Lawsuit Over LA Wildfires

The parent company of Southern California Edison has been sued for allegedly defrauding shareholders before the recent Los Angeles-area wildfires by assuring them it could shut down power lines to reduce the risk of catastrophic damage. Tuesday’s proposed class action …

US SEC Will Not Defend Climate Rule in Court

The acting chair of the U.S. Securities and Exchange Commission on Tuesday signaled the regulator may roll back a controversial rule requiring thousands of public companies to disclose the threats their businesses face from risks related to the climate and …

UBS Whistleblower Verdict Thrown Out Despite Supreme Court Win

A former UBS bond strategist who persuaded the U.S. Supreme Court to make it easier for corporate whistleblowers to win retaliation lawsuits suffered a setback on Monday, as a jury verdict awarding him back pay and other damages was thrown …