The pace at which investors bringing U.S. securities fraud cases are actually recovering money in settlements has fallen to the lowest since laws governing class-action litigation were overhauled in the mid-1990s.
Former AIG Chief Executive Maurice "Hank" Greenberg may pursue a $25 billion lawsuit accusing the U.S. government of engineering an unconstitutional bailout of the insurer, a federal judge ruled Monday.
Former AIG Chief Executive Maurice "Hank" Greenberg may pursue a $25 billion lawsuit accusing the U.S. government of engineering an unconstitutional bailout of the insurer, a federal judge ruled Monday.
A federal judge rejected claims by two former Marsh & McLennan Cos executives that the big insurance broker colluded with Eliot Spitzer when he was New York attorney general to make them scapegoats in a bid-rigging probe, and avert criminal charges against their longtime employer.
A federal judge rejected claims by two former Marsh & McLennan Cos executives that the big insurance broker colluded with Eliot Spitzer when he was New York attorney general to make them scapegoats in a bid-rigging probe, and avert criminal charges against their longtime employer.
A Manhattan federal judge has ordered an insurer to keep advancing legal fees of a hedge fund implicated in a criminal insider trading probe, saying the insurer was not excused because a fund analyst knew there might be a fraud when the policy was taken out.
Former American International Group Inc Chief Executive Maurice "Hank" Greenberg said New York's attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect reinsurance transactions.
A U.S. judge refused to block former MF Global Holdings Ltd Chief Executive Jon Corzine and other company officials from tapping as much as $30 million of insurance money to defend lawsuits over the futures brokerage's collapse.
A judge threw out federal securities-law claims in Allstate Corp's fraud lawsuit against Bank of America Corp's Countrywide unit over $700 million of toxic mortgage debt, but said the insurer may pursue state law claims.
Bank of America Corp urged a judge to disqualify the law firm representing insurer American International Group Inc in its $10 billion mortgage fraud lawsuit against the bank, alleging a conflict of interest by one of the firm's partners.
