Thursday, July 02, 2015 6:25 PM PT
By LORRAINE BAILEY 

     
     (CN) - General Motors directors did not consciously fail to implement oversight measures that could have prevented a recall of 28 million cars with faulty ignition switches, the Delaware Chancery Court ruled.

By IZZY KAPNICK 

     (CN) - An appellate court deflated imprisoned ex-executive Walter Forbes' hopes of overturning his conviction for one of the biggest corporate accounting debacles of the late 1990s. 

By CHRIS FRY 

      JERSEY CITY, N.J. (CN) - Overstock.com's long-running legal feud with Goldman Sachs has likely reached its final chapter, with the retailer settling with the financial giant over their "naked short sales" of the company's stock. 

By JACK BOUBOUSHIAN 

      CHICAGO (CN) - Liquidators in the British Virgin Islands cannot lift an injunction to begin disbursing what's left of a $340 million Ponzi scheme, the Seventh Circuit ruled. 

By LORRAINE BAILEY 

      (CN) - Though its worthless mortgage-backed securities dogged Washington Mutual, Deutsche Bank cannot force JPMorgan Chase to honor the obligation, a federal judge ruled. 

By JUNE WILLIAMS  

          (CN) - The Federal Deposit Insurance Corp. will have to clarify why it refuses to pay golden parachute bonuses to former officers of failed Washington Mutual Bank, a federal judge ruled. 

By LORRAINE BAILEY 

      (CN) - The Federal Reserve had no authority to demand 80 percent of AIG's equity as a condition of its $85 billion bailout in 2008, a federal judge ruled. 

By IZZY KAPNICK 

     (CN) - Three New York law offices will not get a piece of the $21 million attorney-fee award in a shareholder class action over Leucadia's merger with investment bank Jefferies Group, the Delaware Chancery Court ruled. 

By LORRAINE BAILEY 

      (CN) - Auditors who failed to discover that $1.8 billion of Colonial Bangroup's assets were backed by nonexistent mortgages, cannot subpoena more documents from bank regulators, a federal judge ruled. 

By PHILIP A. JANQUART 

     
     (CN) - Keurig Green Mountain Inc. failed to disclose details about its products and ommissions artificially inflated stock prices, investors claim in a federal class action.

By PHILIP A. JANQUART 

     (CN) - Investors are suing some the biggest banks in the world for manipulating the foreign currency market, including Citicorp, JPMorgan Chase & Co., Barclays Plc, The Royal Bank of Scotland Plc and UBS AG, after charges that they conspired to manipulate the price of U.S. dollars and euros in the foreign currency exchange (FX) spot market.

By LORRAINE BAILEY 

     (CN) - A $37 billion merger between chipmakers Broadcom Corp. and Avago Technologies undervalues Broadcom, but gives perks and hefty severance packages to corporate insiders that virtually assures its approval, a pension fund claims.

By NICKEESHA SWABY 

     (CN) - Shareholders claim in court that on the heels of rebranding itself as root9B Technologies, Premier Alliance misled them about the firm's operations and prospects.

By LORRAINE BAILEY 

      (CN) - Sanofi-Aventis employees whose retirement plans took a hit from the 20 percent drop in company stock say in federal court that the pharmaceutical company had been quietly investigating kickbacks for years.

By ADAM KLASFELD 


     MANHATTAN (CN) - "Going dark" for years on public filings, China Mining was headed by a CEO who misappropriated millions to pay off Las Vegas gambling debts, a $1 billion lawsuit claims.

By NICKEESHA SWABY 

     (CN) - IGATE Corp. investors claim in court that a proposed $4 billion all-cash acquisition by Capgemini S.A is "grossly unfair."

By PHILIP A. JANQUART 

     (CN) - Sears CEO Edward Lampert is divesting the ailing company through an allegedly unlawful transaction that siphons off its last remaining assets while keeping investors in the dark about the process, shareholders claim in a derivative class action.

By NICKEESHA SWABY 

     
     (CN) - Investors claim in court that media mogul Robert F.X. Sillerman's plan to take SFX Entertainment Inc. private was shoved through unfairly.

By NICKEESHA SWABY 

     (CN) - ANN Inc. stockholders are suing the company in Delaware Chancery Court for what they claim is a low-ball acquisition by Ascena Retail Group valued at $2.2 billion.

By LORRAINE BAILEY 

     
     (CN) - An international financial monitoring body is "putting the cart before the horse" in its project to determine what financial entities are "systemically important," i.e. "too big to fail," the Securities Industry and Financial Markets Association says.

By IZZY KAPNICK 

     (CN) - The Securities and Exchange Commission is proposing new rules that would tweak how mutual funds and investment advisers publicly report their portfolio data. 

By IZZY KAPNICK 

     (CN) - The Securities and Exchange Commission is proposing new rules to govern security-based swap transactions executed by foreign firms in the United States.

By LORRAINE BAILEY 

     (CN) - The U.S. Department of Labor is seeking public comment on new rules intended to ensure financial advisers give retirement advice untainted by conflicts of interest.

By DAVID LEE 

      McKINNEY, Texas (CN) - A criminal securities fraud investigation of Texas Attorney General Ken Paxton found evidence of wrongdoing that may lead to first-degree felony charges, a special prosecutor said.

By TIM RYAN 06/25/2015

     WASHINGTON (CN) - A federal judge has temporarily blocked the merger of the two largest food distribution companies in the country. 

      WASHINGTON (CN) - In its first case of the kind, the SEC on Tuesday accused two businesses of illegally brokering more than $79 million from foreigners who sought U.S. residency through the Immigrant Investor Program. 

      WASHINGTON (CN) - Computer Sciences Corp. will pay $190 million to settle fraud charges with the SEC, and five of eight executives charged will cough up millions more. 

By JACK BOUBOUSHIAN 

      CHICAGO (CN) - The SEC defended its process for investigating executives for fraud and other misconduct today before the Seventh Circuit in answer to one target's challenge.