(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.
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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
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.
(CN) - IGATE Corp. investors claim in court that a proposed $4 billion all-cash acquisition by Capgemini S.A is "grossly unfair."
(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.
(CN) - Investors claim in court that media mogul Robert F.X. Sillerman's plan to take SFX Entertainment Inc. private was shoved through unfairly.
(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.
(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.
(CN) - The Securities and Exchange Commission is proposing new rules to govern security-based swap transactions executed by foreign firms in the United States.
(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.
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.
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.
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.