Gerald Silk News
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Public pension funds from Arkansas, Ohio, Oregon and Sweden will be lead plaintiffs in a group lawsuit against JPMorgan Chase & Co. over trades made by Bruno Iksil, known as the “London Whale.”
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The number of securities class action settlements approved by U.S. courts dropped in a “weak year” to the lowest point in a decade as the average amount of each accord fell by 42 percent in 2011, according to a report.
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A Maryland public pension fund was named lead plaintiff in a consolidated shareholder lawsuit against Toyota Motor Corp. accusing the carmaker of failing to disclose defects related to sudden-acceleration of its vehicles.
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Toyota Motor Corp. investors alleging the company failed to disclose design flaws that might cause its cars to suddenly accelerate vied to become lead plaintiffs in a group of securities class-action lawsuits.
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California and New York, along with Florida, agreed to join more than 40 other states in a nationwide settlement 16 months in the making that seeks to end abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.
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Toyota Motor Corp. will face a Maryland public pension fund as the lead plaintiff in a consolidated shareholder lawsuit in which it’s accused of failing to disclose defects related to sudden acceleration.
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The trial of Jerome Kerviel, beginning more than two years after Societe Generale SA accused him of losing 4.9 billion euros ($5.8 billion) on unauthorized market bets, may turn on whether the trader can show the bank knew what he was doing.
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Deutsche Bank AG won dismissal of two lawsuits in which investors in residential mortgage-backed securities accused the bank of selling them securitized loans it internally disparaged as “crap.”
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JPMorgan Chase & Co. , Bank of America Corp. and Ally Financial Inc., defending allegations of fraudulent home foreclosures from customers and Congress, may face the most financial peril from investigations by state attorneys general.
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Toyota Motor Corp. was accused by U.S. investors of violating securities law by failing to disclose acceleration-related defects that it knew about, according to a consolidated complaint in a class-action lawsuit.
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