U.S. judge says SEC lawsuit against Bank of America should proceed
(Reuters) – A federal judge on Monday recommended letting the U.S. Securities and Exchange Commission pursue a lawsuit against Bank of America Corp over $855 million of mortgage securities that soured during the global financial crisis.
Falcone says suppressing Ergen’s debt is key to LightSquared restructuring
NEW YORK (Reuters) – Investor Phil Falcone, whose Harbinger Capital Partners owns bankrupt wireless company LightSquared, on Monday said he always intended to cut the debt claims of LightSquared’s largest creditor, Dish Network Corp Chairman Charlie Er…
FBI investigating high-speed trading outfits: WSJ
(Reuters) – United States federal agents are investigating whether high-speed trading companies violate U.S. laws by using fast-moving market information not available to other traders, the Wall Street Journal reported.
U.S. judge says SEC lawsuit against Bank of America should proceed
(Reuters) – A federal judge on Monday recommended rejecting Bank of America Corp’s bid to dismiss a U.S. Securities and Exchange Commission lawsuit over $855 million of mortgage securities that soured during the global financial crisis.
U.S. congressional probe heats up as GM expands recalls
WASHINGTON/DETROIT (Reuters) – A U.S. congressional probe is focusing on why General Motors Co employees repeatedly approved substandard ignition switches linked to at least 13 fatalities, as the automaker on Monday announced another major recall, this…
Investment advisor featured in ‘The Big Short’ faces SEC trial
NEW YORK (Reuters) – An investment advisor featured in “The Big Short,” a best-selling book about the financial crisis, faced an administrative trial Monday on claims he misled investors in a complex investment product linked to mortgages.
Wall Street rises on Yellen’s view; S&P scores modest first quarter gain
NEW YORK (Reuters) – U.S. stocks rose on Monday, with the S&P 500 ending both March and the first quarter of 2014 with moderate gains, after Federal Reserve Chair Janet Yellen relieved concerns about a rate hike coming earlier than expected.
N.Y. judge lets Chevron bring fraud claims against Patton Boggs
NEW YORK (Reuters) – A New York judge has allowed Chevron Corp to sue Patton Boggs over claims that the Washington law and lobbying firm engaged in fraud while trying to enforce a multibillion-dollar environmental judgment for a group of Ecuadorean vil…
JPMorgan fails to end lawsuit over London Whale losses
NEW YORK (Reuters) – JPMorgan Chase & Co must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2 billion in the “London Whale” scandal.
GM to recall 1.5 million vehicles to fix electric power steering issue
(Reuters) – General Motors Co is recalling more than 1.5 million vehicles because they may unexpectedly lose power steering, the company said on Monday
