Courts Allows Shareholder Class Action Against Goldman Sachs Tied to 2008 Crisis April 13, 2020 By Jonathan Stempel Goldman Sachs Group Inc. must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes...
U.S., States Weigh Suing Moody’s Over Mortgage Ratings February 8, 2013 By Aruna Viswanatha and Luciana Lopez The U.S. Justice Department and multiple states are discussing also suing Moody’s Corp. for defrauding investors, according to people familiar...
Government’s Case Against S&P: Ratings Stopped Making Sense February 6, 2013 By Jonathan Stempel Barely two weeks after the big subprime lender New Century Financial Corp. went bankrupt, a top Standard & Poor’s executive...
U.S. Hits S&P with $5 Billion Fraud Lawsuit Over Mortgage Securities Ratings February 5, 2013 By Aruna Viswanatha The U.S. government is seeking $5 billion in its civil lawsuit against Standard & Poor’s, accusing the ratings service of...
S&P Expects Government Lawsuit Over Its Pre-Crisis Credit Ratings February 4, 2013 By Aruna Viswanatha and Jonathan Stempel Standard & Poor’s said it expects to be the target of a U.S. Department of Justice civil lawsuit over its...
Bank of America Employees Could Face Charges in Mortgage Fraud Case October 26, 2012 By Grant McCool Bank of America Corp. employees could face civil fraud charges as part of a federal lawsuit accusing the bank of...
Civil Liberties Group Suing Morgan Stanley Over Mortgages October 15, 2012 By Jed Horowitz The American Civil Liberties Union is filing what it says is the first lawsuit against an investment bank, Morgan Stanley,...
Banks Say Settlements Aren’t Slowing Financial Crisis Liability Suits October 15, 2012 By Aruna Viswanatha and Rick Rothacker As U.S. authorities seek to make Wall Street pay for its role in triggering the financial crisis more than four...
BofA Whistleblower to Receive $14.5M in Mortgage Case May 30, 2012 By Rick Rothacker A former home appraiser will receive $14.5 million as part of a whistleblower lawsuit that accused subprime lender Countrywide Financial...
Brokerage’s Strategy Could Redefine ‘Customer’ in Securities Arbitration Cases March 21, 2012 By Suzanne Barlyn A series of victories by Morgan Keegan & Co. is calling into question who can be considered a “customer” in...