New York state Comptroller Thomas DiNapoli has filed separate suits against Bank of America (BofA) and its Merrill Lynch unit for losses connected with BofA’s purchase of Merrill and Merrill’s alleged misrepresentations over its subrprime mortgage exposure.
The New Mexico Educational Retirement Board has hired two law firms to represent the teachers’ pension fund in a planned lawsuit against a Dallas money management firm.
California Attorney General Edmund G. Brown Jr. announced a $1.4-billion settlement with three Wells Fargo affiliates to pay back investors, charities, and small businesses that purchased auction-rate securities (ARS) based on "misleading advice."
Charles Schwab has been notified by the U.S. Securities and Exchange Commission (SEC) that it could be the target of an SEC civil suit.
Two investors are pointing their fingers at the U.S. government for failing to stop Bernard Madoff’s giant Ponzi scheme.
Colonial Bank, a now-defunct Alabama bank company, has been hit with eight stock-drop suits over losses suffered by its pension plan when the bank was seized by regulators, according to an Associated Press report.
Somewhere in the course of your professional life, you have no doubt heard (or used) the expression about what happens when you assume1.
If you want to get a quick sense of just how fast time flies, consider that it was only a year ago this week that Lehman Brothers filed for bankruptcy.
A federal judge in New York has rebuffed efforts by two credit rating agencies to seek constitutional free speech protection for their evaluations of securities instruments.
The Investment Company Institute (ICI) is pushing the U.S. Supreme Court to stick with the established legal framework when evaluating claims that a mutual fund’s investment adviser has received excessive compensation.
A federal judge on Wednesday combined 12 lawsuits over the failed Reserve Primary Fund, Reuters reported.
Mary Wong, the former adviser of Michael Vick recently sued by the Department of Labor (DoL) and Vick, now has more legal problems to deal with.
UBS AG agreed to provide 4,450 names of U.S. account holders to settle a tax-evasion lawsuit, according to news reports.
Leveraged exchange-traded-funds (ETFs) have caught the attention of regulators, and now law firms have noticed the products as well.