Morgan Stanley was sued by Taipei- based China Development Industrial Bank for fraud to recover losses from an investment tied to residential mortgage-backed securities.
Citigroup Inc. must face a trial set for Oct. 18 over claims it tricked private equity firm Terra Firma Capital Partners Ltd. into overpaying for EMI Group Ltd. in 2007, a U.S. judge ruled.
Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.
Motorola Solutions Inc. agreed to pay $200 million to settle a 2007 investor lawsuit accusing the company of overstating its sales prospects.
Author Michael Lewis was sued by Wing Chau, president and principal of Harding Advisory LLC, who accused the writer of defaming him in his 2010 book “ The Big Short: Inside the Doomsday Machine .”
A U.S. judge reinstated a lawsuit accusing Sanofi-Aventis SA of misleading investors about the likelihood of U.S. regulatory approval of its weight-loss pill Zimulti.
U.S. Attorney Patrick J. Fitzgerald in Chicago, the chief federal prosecutor in the Northern District of Illinois since Sept. 1, 2001, said he will step down, effective June 30.
The U.S. Justice Department opened criminal and civil investigations into the BP Plc oil spill in the Gulf of Mexico, the worst in U.S. history.
Morgan Stanley said it settled suits brought by investors in two structured investment vehicles called Cheyne and Rhinebridge,
"The underwriters took down their earnings estimates dramatically during the road show and only told a select group of investors."
- Samuel Rudman on May 23, 2012