Two former Bernard Madoff investors filed a proposed class-action lawsuit against JP Morgan Chase & Co (JPMC) Monday seeking recovery of $19 billion for allegedly aiding Madoff in orchestrating his Ponzi scheme. The suit,...
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Bank of America overdraft fee class action settlement gains preliminary approval
A class action settlement for $410 million between Bank of America (BOA) and customers claiming they were illegally charged overdraft fees was preliminarily approved on Monday in federal court. A judge for the US District Court for...
A jury US District Court for the Eastern District of New York found former Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin not guilty of federal securities-related charges...
Compensation regulation obscures role of housing policy in recent economic collapse
Allan Meltzer : "Congress and the administration typically try to find scapegoats to satisfy the public that they are dong something about failed policies. In the 1980s, the alleged culprits were venal operators of...
US Supreme Court refuses to consider class action status for Enron shareholders
The US Supreme Court on Tuesday denied without comment a petition for certiorari filed in University of California Regents v. Merrill Lynch (06-1341) , a derivative lawsuit filed in...
Appeals court denies class action status for Enron shareholders
The US Fifth Circuit Court of Appeals withdrew class action status Tuesday from Enron shareholders who filed a shareholder derivative lawsuit in October 2001. US District Judge Melinda Harmon ...
Lay and six other Enron defendants dismissed from class action shareholder suit
US District Court Judge Melinda Harmon on Wednesday granted a motion to dismiss seven defendants from the Enron shareholder derivative lawsuit , scheduled to go to trial in April. The lead plaintiff in the case, the University...
The US Court of Appeals for the Seventh Circuit has upheld a lower court ruling that defendants of slaves have no standing to sue companies that allegedly profited from slavery before the practice was abolished....
Descendents of slaves argue lawsuit against companies should proceed
The heirs of slaves, who filed federal lawsuits against companies that allegedly profited from slavery before the abolition of the practice in the United States, argued Wednesday in front of the US Seventh Circuit Court of...
Federal judge approves $6.6B Enron shareholder settlement with major banks
A federal judge on Wednesday gave final approval to a $6.6 billion settlement between former Enron shareholders and the three banks accused of helping Enron hide financial shortcomings to deceive investors. Lead plaintiff's attorney...