The Federal Reserve Board of Governors set an interest rate for American International Group Inc.’s 2008 bailout loan that was meant to prevent shareholders from reaping a “windfall,” the Fed’s top lawyer testified. With bankruptcy as AIG’s only alternative, a …
The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission will vote on Tuesday on a definition of …
With a nod to country singer Kenny Rogers, a federal judge has refused for now to allow insurers for former officers and directors of Lehman Brothers Holdings Inc. to pay $90 million to settle a fraud lawsuit brought by investors. …
Former Lehman Brothers Holdings Inc. executives, directors, auditors and underwriters on Wednesday lost their bid to dismiss an investor lawsuit seeking to hold them responsible for losses tied to the investment bank’s collapse. In a 106-page ruling, U.S. District Judge …
New York state regulators face their first test soon in their accounting fraud lawsuit against Ernst & Young LLP over its role as auditor for Lehman Brothers Holdings Inc. The first major government legal action stemming from Lehman’s 2008 bankruptcy …
Lehman Brothers Holdings has been sued by a reinsurer that wants control of $450 million it said it pledged to secure various obligations, and which should not be given to Lehman creditors. Pulsar Re, a Bermuda-based reinsurer and an investment …
