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.
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.
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.
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.
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.