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Plaintiffs
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Latest Headlines
Wall Street-free arb panels popular
In hindsight, this is anything but surprising: A new arbitration program allowing aggrieved investors to have their cases heard by a panel with no links to Wall Street firms has proven popular. In fact, nearly 80 percent plaintiffs are opting for such panels.
"It is higher than I anticipated,"
Suit against Bank of America over Merrill Lynch advances
When people think of former Bank of America CEO Ken Lewis, they will likely first think about his disastrous Countrywide purchase back in 2008, a deal he promoted as one heck of a bargain.
The deal sealed his fate as the man who lead the once mighty bank to the edge of a scary precipice. But w
Bank of America not alone in facing putback claims
All banks have been tarred with charges that they violated state and federal laws with their mortgage-backed securities offerings. Bank of America, however, has stood alone in that it was also the target of various putback claims--that is, suits that argue that the bank violated lenders representa
Study: Foreclosures associated with rising medical visits
A huge issue for banks right now is the liability they face for botched mortgages and faulty foreclosures.
A bevy of private plaintiffs and government agencies have sued for some sort of compensation. Most suits are seeking putbacks, but in the case of the Federal Housing Finance Agency, which
Fairly or not, lawsuits show outsourcing can boost legal risks
The risks of outsourcing sensitive information have not been lost on security and compliance managers. It remains a critical issue, as the outsourcing imperative continues to heat up. To the list of
Star manager Gundlach accused of stealing data, technology
We've seen some interesting cases recently of employees facing charges that they stole proprietary data in order to start a company or to help them in a new job. One high profile case was that of former Goldman Sachs programmer Sergey Aleynikov, who was convicted and sentenced to eight years of ha
Court decision deals Picard a setback
We've discussed recently whether a backlash of sorts was developing against Irving Picard, the court-appointed trustee who has gone after "net winners" in the Bernard Madoff Ponzi Scheme with a zeal that ultimately angered many.
Some think he has seriously overreached. People in this camp--nam
Chinese reverse merger ligitation mounts
We've noted that U.S. financial regulators--including the SEC and the PCAOB--are looking into more cases of dubious reverse mergers. At issue is whether a mix of investment bankers, shady brokers and auditors have allowed unqualified companies to make it to a major stock exchange via these mergers
Union Bank: Debit transactions case wins class action status
Recall that one of the big issues in the debate running up to the passage of landmark credit card reform legislation last year was the order in which banks processed debit card transactions.
Most banks processed these transactions from the largest amount to the smallest, rather than chronologi
Walmart Supreme Court decision and the Goldman Sachs gender suit
In the wake of the recent Walmart decision, one strategy for companies facing a gender bias lawsuit is to try and get the case to the Supreme Court--where they would appear to have a better chance these days of prevailing.
And so it goes for Goldman Sachs. Recall that three women sued the bank
