Royal Bank of Scotland Group Plc and Standard & Poor’s were sued in the Netherlands by 16 investors over a complex derivative product that fell in value by as much as 90 percent during the financial crisis.
Between scouting banquet halls for eighth-grade graduation and disciplining a boy who bit a classmate, Principal Aaron Rucker spotted five gang members near William H. Ryder Elementary and pulled his silver Range Rover to the curb.
Australian towns, churches and charities are scheduled to vote Oct. 17 on a proposal by a Lehman Brothers Holdings Inc. unit and its insurers to pay them about $48 million to cover part of their investment loss claims.
Lehman Brothers Holdings Inc.’s Australian unit is liable for losses three towns incurred from buying failed securities, a judge ruled. The lawsuit’s sponsor said the case is the first of its kind to complete a trial.
The Justice Department suit against Standard & Poor’s has entered a phase where lawyers spend months arguing over procedure, and progress is slim. Tony West, who’s overseeing the case. knows the feeling: His nomination to become the agency’s No. 3 official has been blocked for half a year.
Chesapeake Energy Corp., the most active U.S. oil and natural-gas driller, said it is selling part of its holdings in the Utica Shale oil and gas field in Ohio for $1.14 billion. Its shares rose 6 percent.
Standard & Poor’s, the rating company being investigated by U.S. regulators over the nation’s credit downgrade, will face trial in an Australian court to defend allegations it misled investors with ratings of collateralized debt obligations, in the first case of its kind.