Tag:
suits
Latest Headlines
Latest Headlines
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
Piling on, AIG sues Bank of America over MBS
Bank of America can't seem to catch a break, as more critics emerge over its controversial $8.5 billion settlement with aggrieved MBS holders. The latest company to join the chorus of criticism is AIG.
It will certainly not join the group that has settled with AIG and will instead oppose it fo
Trader charges boss with antics from 'The Untouchables'
Small hedge funds can be rough-and-tumble places to work, as the antics can get pretty wild. Some guys like to run them like personal fiefdoms. Former Structured Portfolio Management trader Jeffrey Kong has filed a suit, notes the Greenwich Time , that offers an unflattering glimpse into the c
Citi settlement raises issue: Why shareholders must pay
The New York Times weighs in on an issue that has long vexed the law enforcement and shareholder community: Why make shareholders pay for the sins of their executives? We've seen several cases of this in the wake of the financial crisis.
The latest: Citi has agreed to pay $75 million to se
Lawsuits starting to mount against Goldman Sachs
It looks like more aggrieved investors are ready to take their chances against mighty Goldman Sachs ( GS ) in court. While the bank's settlement with the SEC did not call for it to admit to any sort of fraud, some burned investors are betting they can win anyway, or at least pick up a settlement
Timberwolf investor sues Goldman Sachs; flood of litigation coming?
One danger for Goldman Sachs ( NYSE: GS ) as it finds itself in the prosecutorial crosshairs is that it may open itself up to a lot of private litigation. That's one of the big reasons the firm cannot accept any sort of settlement that calls for it to admit guilt to fraud ( fraud news) charge
Bank of America, another wrongful foreclosure?
What's frustrating about gaffes that Bank of America ( BAC ) has suffered with its mangled attempts at home repossession is that they seem so avoidable. It's happened again.
Angela Iannelli, of Pittsburgh, has sued Bank of America in Allegheny County, claiming her mortgage payments were on t
Lloyd Blankfein's suits, what do they mean?
You know you're a major public figure when newspapers like the Financial Times start spilling lots of ink on your appearance. Goldman Sachs ( GS ) CEO Lloyd Blankfein was given the star treatment recently. One columnist dissected his appearance and what it means about the firm and Wall Stree
Merrill Lynch's diamond gaffe
Merrill Lynch has raised brows recently by seeking business in untraditional areas. It financed United Artists to the tune of $500 million to produce the Tom Cruise movie "Valkyrie." It also lent money to the Ranch, a winery in Napa Valley. It thought it had latched onto a can't miss project when
Private equity vs. NYC rent control laws
The New York Times notes that in the last four years, developers owned by private equity firms have bought almost 75,000 rent-regulated apartments in New York City. That's 6 percent of the city's 1.2 million such units. The big players are Vantage Properties, in partnership with Apollo Real E
