Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s CDO business charged in a bonus- boosting fraud tied to a $5.35 billion trading book, was surprised by the U.S. indictment since he has been cooperating with investigators for four years, his lawyer said.
The U.S. Supreme Court’s rejection of a nationwide class action for female workers suing Wal-Mart Stores Inc. doesn’t foreclose the ability of employees to bring similar suits for many other types of claims against companies.
Wal-Mart Stores Inc. female employees suing the retailer for back pay in the biggest private gender-bias case in U.S. history can proceed as a group on behalf of as many as 1 million women, an appeals court ruled.
More than 100 Wal-Mart Stores Inc . workers paint a similar picture in sworn complaints about the company: Local managers made sexist decisions about promotions and pay, and top officials did nothing to stop them.
The women who sought to sue Wal-Mart Stores Inc. for gender bias on behalf of 1.5 million co-workers said they will press their fight against the nation’s largest private employer in smaller lawsuits in lower courts and claims with the U.S. Equal Employment Opportunity Commission.
Wal-Mart Stores Inc. agreed that women planning to sue for sex bias after a group lawsuit representing more than 1 million workers was rejected by the Supreme Court should get an extra 90 days to file their cases, a lawyer for the company said today.
The U.S. Supreme Court gave the country’s largest companies a new shield from multibillion- dollar lawsuits, as the justices rejected a bid to sue Wal-Mart Stores Inc. on behalf of more than a million female workers.