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.
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.
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.
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.
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.
Toyota Motor Corp. , accused by investors accusing the carmaker of misleading them by not disclosing acceleration-related defects that it allegedly knew about, asked a judge to dismiss a securities-fraud lawsuit.