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Legal / Law Matters

  • With a scheduled trial just four weeks away, the former chairman of American International Group Inc said New York's attorney general should abandon his nearly decade-old fraud case against him, calling it a waste of taxpayer dollars in pursuit of a hollow "trophy" victory. Maurice "Hank" Greenberg, 89, said attorney …

  • The U.S. Securities and Exchange Commission is asking a federal court to force engine manufacturer Navistar International Corp. to hand over lobbying-related records as part of an ongoing fraud investigation into the company. The SEC said it has been sending Navistar investigative subpoenas since 2012, as part of …

  • Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid

    A passenger who said she had been raped by an Uber driver in India's capital sued the online car service in U.S. federal court on Thursday, claiming the company failed to maintain basic safety procedures. In a statement, Uber did not directly address the lawsuit but said it is cooperating fully with the authorities to …

  • Alleged victim says the ride hailing service failed to protect her and that the company has since "shunned" all contact.

  • A woman who says an Uber driver raped her in New Dehli, India, has sued the San Francisco-based company in federal U.S. court. The woman's lawyers filed the lawsuit Thursday in San Francisco and have asked ...

  • The children of the Rev. Martin Luther King Jr. are trying to settle a lawsuit over their father's traveling Bible and 1964 Nobel Peace Prize without going to trial, according to a judge's order. King's ...

  • On Friday, a federal appeals court will review earlier court decisions that left unpaid internship in legal limbo.

  • U.S. prosecutors said on Thursday they will drop charges against five men accused of insider trading ahead of an IBM Corp acquisition after an appellate court ruling limited the ability of authorities to pursue such cases. At a court hearing, prosecutors in the office of U.S. Attorney Preet Bharara in Manhattan said they …

  • U.S. Federal Communications Commission on Thursday voted to propose a fine of about $600,000 for second-biggest wireless carrier AT&T Inc over violations of rules and requirements for operating some airwaves licenses. FCC officials said they had found AT&T, between 2009 and 2012, operated some of its cell cites differently …

  • Lawsuit filed opposing Scripps merger deal @ The Business Journals - 14 hours ago

    A law firm has filed a class-action lawsuit opposing E.W. Scripps Co.'s merger with Journal Communications Inc. The lawsuit filed against Milwaukee-based Journal Communications (JRN) on behalf of its shareholders argues that Journal violated its fiduciary duties. Cincinnati-based Scripps (SSP) and Journal agreed in July …

  • The hot Chinese smartphone maker risks getting stuck in a legal quagmire in its bid to expand globally and take the iPhone head on.

  • Lonsdale denies the allegations.

  • Cobalt International Energy Inc. said the Securities and Exchange Commission dropped its foreign-bribery investigation of the firm.

  • After getting hammered on its intellectual property rights by Intel’s competing Iotivity standards effort, the AllSeen Alliance, which is promoting Qualcomm-backed AllJoyn protocol, is offering users a ...

  • Wells Fargo Adds Senior Lawyers @ The Wall Street Journal - 18 hours ago

    Wells Fargo recently snagged two former Bank of America Corp. high-ranking lawyers to fill openings in its litigation and workout division

  • U.S. prosecutors said they are prepared to drop charges against five men accused of engaging in insider trading ahead of an IBM Corp acquisition, citing a major appellate court ruling limiting authorities' abilities to pursue such cases. In an unusual letter late Wednesday, prosecutors under Manhattan U.S. Attorney …

  • Man speaks on his mobile phone as he walks past the logos of Vodafone painted on a roadside wall in Kolkata

    The Indian government has asked tax officials to apply the principle behind a tax ruling in favour of Vodafone Group Plc to all similar cases, a major boost to foreign firms including Royal Dutch Shell PLC. The order was detailed in a letter seen by Reuters and sent by the finance ministry to all tax officials across the …

  • India's decision to drop a tax dispute with Vodafone Group Plc is likely to mean relief for Royal Dutch Shell PLC and others caught in similar, protracted battles, as the government tries to attract much-needed foreign investment. India's image as an investment destination has been tarnished by a reputation for red …

  • Hell Hath No Fury Like a Lawyer Scorned @ The Wall Street Journal - Thu, Jan 29, 2015 12:08 AM EST

    So you want to run a business offering legal services that don’t involve costly attorney fees? See you in court.

  • Adam Levine, a deputy press secretary for President George W. Bush who joined the buyout company in 2008, called himself a “weapon of mass destruction” who could inflict harm by disclosing sensitive information and planting damaging stories about TPG, the company said in a revised complaint filed Wednesday in federal court …

  • S&P close to $1.37B deal over risky mortgage bond ratings Associated Press - Wed, Jan 28, 2015 7:11 PM EST
    S&P close to $1.37B deal over risky mortgage bond ratings

    Standard & Poor's is close to a $1.37 billion settlement with the Obama administration and U.S. states over allegations it knowingly inflated its ratings of risky mortgage investments that helped trigger ...

  • GM Rejects Request to Extend Compensation Claim Deadline @ The Wall Street Journal - Wed, Jan 28, 2015 6:01 PM EST

    General Motors rejected a request by two U.S. senators to extend their ignition switch compensation fund claim deadline for a second time.

  • Big banks fail to dismiss U.S. currency rigging lawsuit Reuters - Wed, Jan 28, 2015 5:55 PM EST

    A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day (3.5 trillion pounds-a-day) foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan rejected the defendants' arguments that the case should be …

  • Standard & Poor's may reach $1.38-billion settlement on mortgage bond ratings @ Los Angeles Times - Wed, Jan 28, 2015 4:50 PM EST

    Standard & Poor's may complete as early as Monday a $1.38-billion accord with the U.S. and 19 states, including California, over claims that it inflated subprime mortgage bond ratings before the financial ...

  • NEW YORK (Reuters) - A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. ...

  • S&P near $1.37 billion settlement of crisis-era suits @ MarketWatch - Wed, Jan 28, 2015 3:20 PM EST

    Standard & Poor’s could strike a $1.37 billion deal this week to resolve government allegations that it knowingly issued rosy grades of mortgages before the 2008 financial crisis, sources said.

  • Lehman trustee seeks to pay another $2.2 billion @ MarketWatch - Wed, Jan 28, 2015 3:13 PM EST

    The trustee for Lehman Brothers seeks to pay another $2.2 billion to former employees and other creditors.

  • Judge Rules Fannie-Freddie Lawsuits May Continue @ The Wall Street Journal - Wed, Jan 28, 2015 1:55 PM EST

    A judge in the U.S. Court of Federal Claims denied the government’s motion to stay proceedings in that court.

  • The logo of Alstom is pictured during an inaugural visit of the Alstom offshore wind turbine plants in Montoir-de-Bretagne

    British prosecutors are investigating whether subsidiaries of Alstom, the French power and transport company at the centre of an international corruption inquiry, committed offences in Hungary, a London court heard on Wednesday. The Serious Fraud Office (SFO) has already charged two UK-based Alstom subsidiaries and four …

  • S&P close to $1.4bn settlement with DoJ @ Financial Times - Wed, Jan 28, 2015 12:51 PM EST

    Standard & Poor's is close to paying $1.4bn to settle claims it inflated ratings on mortgage derivatives in order to win business ahead of the credit crisis. The resolution of lawsuits led by the US Department ...

  • EPA Sued by Environmentalists Over Factory-Farm Pollution @ Bloomberg - Wed, Jan 28, 2015 12:50 PM EST

    The U.S. Environmental Protection Agency should set limits on ammonia output and other pollutants from large-scale chicken, hog and livestock facilities, a coalition of advocacy groups said in a lawsuit accusing the agency of failing to use its authority to curb harmful emissions. The EPA hasn’t acted on a 2011 request …

  • S&P, Department of Justice close to $1.37 billion settlement @ Fortune - Wed, Jan 28, 2015 12:41 PM EST

    A settlement over pre-financial crisis mortgage bond ratings could come as soon as Thursday, according to a report.

  • Alstom to face bribery trials in UK court @ Financial Times - Wed, Jan 28, 2015 12:33 PM EST

    Allegations of bribery by Alstom, the French conglomerate that is selling its power division to General Electric, will be put to two - and possibly three - separate juries in the UK. Two separate units ...

  • Judge says Caesars bankruptcy case will be held in Illinois Associated Press - Wed, Jan 28, 2015 12:06 PM EST

    A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups who wanted the case ...

  • Alibaba shares drop on Chinese report of fake sales @ USA TODAY - Wed, Jan 28, 2015 10:07 AM EST

    Report was withheld until now to avoid disrupting the company's U.S. stock market debut.

  • LA jury awards $5 million to funk legend Sly Stone Associated Press - Wed, Jan 28, 2015 7:36 AM EST
    LA jury awards $5 million to funk legend Sly Stone

    Funk legend Sly Stone was awarded $5 million on Tuesday in a breach-of-contract suit that claimed his business partners and his own company cheated him out of royalties. A Los Angeles Superior Court jury ...

  • Oppenheimer to Pay SEC, EU Financial Tax: Compliance @ Bloomberg - Wed, Jan 28, 2015 12:01 AM EST

    Oppenheimer Holdings Inc. (OPY) will pay $20 million to settle U.S. regulatory claims that it improperly sold billions of shares of penny stocks on behalf of customers. Oppenheimer admitted that it failed to report red flags that its client Gibraltar Global Securities, a Bahamas-based firm, was carrying out the transactions …

  • Mexico says may sanction Google over data protection breach Reuters - Tue, Jan 27, 2015 10:29 PM EST
    Google signage seen at the company's offices in New York

    Mexico's federal transparency body said on Tuesday it had initiated proceedings to impose sanctions on the Mexican unit of Google Inc for possible breach of the country's data protection law. The Federal Institute for Information Access and Data Protection (IFAI) said it had taken the step following a request from an unidentified …

  • SEC Issues Wells Notice to Bank of New York Mellon @ The Wall Street Journal - Tue, Jan 27, 2015 6:31 PM EST

    Regulator recommends enforcement action against the bank for allegedly violating the U.S. Foreign Corrupt Practices Act in some of its dealings with sovereign-wealth funds.

  • Pfizer to Pay $400M to Settle Shareholder Suit Over Off-Label Marketing @ The Wall Street Journal - Tue, Jan 27, 2015 5:34 PM EST

    Pfizer has reached an agreement in principle to pay $400 million to settle a class-action securities lawsuit that alleged the drug maker illegally marketed several medicines and, subsequently, caused investors ...

  • Judge lets North Dakota oil patch overtime lawsuit proceed Associated Press - Tue, Jan 27, 2015 5:15 PM EST

    A lawsuit accusing oil-services company Schlumberger Ltd. of failing to pay overtime wages in North Dakota's oil patch can move forward, a federal judge says. Judge Ralph Erickson's ruling, released Monday, ...

  • D.C. home health workers suing for back pay seek class-action status @ The Business Journals - Tue, Jan 27, 2015 5:05 PM EST

    Home health care workers who sued three D.C. employers for back pay are now seeking class-action status for what they say could ultimately grow to a $150 million case. The workers' bid for class-action status was filed Tuesday afternoon in D.C. Superior Court. The initial lawsuit was filed in December and included about …

  • A BNY Mellon sign is seen on their headquarters in New York's financial district

    In a regulatory filing on Friday, BNY Mellon said that U.S. Securities and Exchange Commission staff had notified it that they would recommend the SEC charge the bank over alleged violations of the Foreign Corrupt Practices Act. A case from the SEC would be the first to come from a long-running investigation into banks' …

  • NFL Launches First Official YouTube Channel Days Before Super Bowl Kickoff

    After years of fiercely protecting its content, the NFL has reached a deal with YouTube to distribute game previews, highlights, recaps and more.

  • Pfizer Inc (PFE.N) said on Tuesday it agreed to pay $400 million to avert a trial in a class action lawsuit accusing the pharmaceutical giant of misleading investors in connection with off-label marketing. Pfizer disclosed the agreement-in-principle as it released its fourth-quarter results. "This resolution reflects …

  • Former TD Bank executive Frank Spinosa consented to a court judgment on Monday in a Securities and Exchange Commission lawsuit related to his involvement in Scott Rothstein's $1.4 billion Ponzi scheme. Spinosa, former regional vice president for TD Bank, may not challenge the consent or judgment when the penalty amount …

  • Banks Reach Settlement Over Sino-Forest Stock Sale @ The Wall Street Journal - Tue, Jan 27, 2015 11:40 AM EST

    A group of Canadian and other investments banks agreed to pay a total of 32.5 million Canadian dollars ($26.1 million) to settle claims related to their role as underwriters to help Sino-Forest Corp. sell ...

  • Oppenheimer & Co will pay $20 million to settle two U.S. government cases stemming from allegations the firm improperly sold penny stocks and ignored red flags. The Securities and Exchange Commission said Oppenheimer will pay $10 million to settle the case with the agency, plus another $10 million to settle parallel …

  • German court to decide on nuclear exit complaints this year Reuters - Tue, Jan 27, 2015 10:28 AM EST

    DUESSELDORF/FRANKFURT (Reuters) - Germany's highest court aims to decide this year on complaints filed by the country's biggest utilities against a decision to shut down its nuclear plants earlier than initially planned, a court spokesman said on Tuesday. E.ON (EONGn.DE), RWE (RWEG.DE) and Vattenfall [VATN.UL] filed complaints …

  • Ex-Billionaire Sam Wyly Sued by Ex-Wife Over Stock Holdings @ Bloomberg - Tue, Jan 27, 2015 10:00 AM EST

    Former billionaire Samuel Wyly was sued by his ex-wife who claims he hid stock in companies he controlled during their 1991 divorce. Wyly, who helped build companies including arts-and-crafts retailer ...

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