Wells Fargo & Co. settled a lawsuit over claims it mismanaged institutional investors’ collateral received as part of its securities lending program, lawyers for both sides told a judge as a trial was close to starting.
A U.S. Securities and Exchange Commission rule requiring companies to disclose whether any “conflict minerals” are used in their products violates the free-speech rights of manufacturers, an appeals court held.
American International Group Inc.’s resumption of securities lending at a life insurance division would carry risks for the company and be negative for bondholders, Moody’s Investors Service said today.
Bank of New York Mellon Corp. must face two International Brotherhood of Teamsters benefit funds’ claims the lender failed to protect them from the 2008 collapse of Lehman Brothers Holdings Inc., a U.S. judge ruled.
BlackRock Inc., the world’s biggest money manager, persuaded a judge to dismiss a lawsuit brought by two pension funds that accused the company of collecting “grossly excessive” compensation from securities-lending returns linked to iShares Inc.