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Sort by date 1,824 pages found matching bank of america- A New Year, a New Twist on Stock Broker Fraud
Jan-11-12 Koloa, HI The new year has begun with a new twist on the crime of stock broker fraud —in this case, a Hawaiian who wasn't a stockbroker and admitted to his clients that he wasn't. And yet investors gave him money anyway. Stock fraud is a common white-collar crime, that sees stockbrokers advising their clients to invest in products that may not... - Fifth Third Bancorp. of Cincinnati security breach lawsuit dismissed
A lawsuit filed against Fifth Third Bancorp. of Cincinnati has been dismissed. The Pennsylvania State Employees Credit Union (PSECU) filed the lawsuit hoping to recover $100,000 it spent on canceling and reissuing 235,000 Visa credit cards compromised in a security breach at BJ's Wholesale Club Inc., Mass., in 2004. PSECU claimed that Fifth Third was li... - Cascade County, Montana environmental land purchase Settlement
Montana Specialty Mills, a processor and marketer of oilseed and other grain-based products, found a plume of petroleum and other solvents under its property and filed a lawsuit against Cascade County in 1998. The suit alleged that contaminants leaked from the Cascade County Shop adjacent to the mill property. In the settlement, Cascade County will pay... - Following Suit: Variable Annuities Litigation Update
Dec-26-13 • As the largest generation in America’s history gets ready to retire, the focus on litigation over financial scams is gaining momentum. Variable annuities , a type of financial product many people are not likely familiar with, represent a minefield for investors, particularly seniors and people trying to shore up their retirement incomes. Ma... - Payday Lender in Trouble for Debt Collector Violations
Dec-22-13 Fort Worth, TX A payday lender who was also involved in debt collection practices will pay $19 million in fines and refunds for issues with how the company collected debt and issued loans. According to USA Today (11/20/13), Cash America International allegedly used a process called robo-signing to process documents used to collect debts. People wh... - Bawag Refco Fraud Settlement
The U.S. Attorney's Office and the Securities and Exchange Commission filed charges against the Austrian bank for allegedly helping Refco Inc. commit fraud. Bawag did not admit or deny the allegations, but has agreed to pay the U.S. government a $675 million settlement. As part of the settlement, the U.S. Attorney's Office has agreed to refrain from cri... - Ex-UBS Trader Changes Legal Teams for REIT Fraud Case
Dec-22-11 London, England Former UBS employee Kweku Adoboli has switched legal teams prior to his court appearance next week, as the trader is heading to trial over a REIT fraud claim, according to Reuters . The news source reported that the London law firm now representing Adoboli recently announced they were defending the trader, who is accused of unauthor... - Bad Faith Insurance Lawsuit Filed Over Credit Disability Insurance
Dec-5-13 Charleston, WV A bad faith insurance lawsuit has been filed against two companies, alleging policyholders had their disability claims wrongfully terminated. The terminated disability claim allegedly affected the policyholders’ mortgage and was meant to cover mortgage payments for a certain amount of time, but was terminated early. According to... - Texas Plaintiff Sues Over Airbag Injuries, Other Claims
Dec-3-13 Marshall, TX Airbags were originally envisioned and designed to prevent injuries. So it’s somewhat galling when airbag injuries are caused when the devices either deploy when they shouldn’t, fail to deploy when they should or deploy improperly. This problem is compounded given that most cars, including subcompacts, have as many as 10 airbag... - Charges Filed in California Financial Elder Abuse Case
Nov-29-13 Los Angeles, CA With the rate of financial elder abuse reportedly on the rise, states such as California are attempting to prevent elderly financial abuse. To that end, charges have reportedly been laid against a man who allegedly committed elder exploitation by stealing from his aunt. According to the Los Angeles Times (11/26/13), the alleged per... - UK Steel Plant Workers Alleged to Have Had “Snowball Fights” with Asbestos
Nov-24-13 Splott, Cardiff Sadly, it appears to be an old story but one that still has a few chapters yet to be written. To that end, experts conversant with asbestosis disease in the UK say that asbestos cases from exposure dating back decades are not expected to peak before 2016. Findings are similar in North America. The latest round of asbestosis lawsui... - Michelex Corp. Wells Fargo Lending Dispute Settlement
Wells Fargo filed a lawsuit against the specialty plastic product company over a lending dispute. Wells Fargo sued Michelex, claiming the bank was owed just under $3 million in promissory notes. Michelex has agreed to pay Wells Fargo $1,025,000 by April 20, 2006 and $1,400,000 by August 31, 2006. (Apr-12-06) [ HOUSTON CHRONICLE ] Legal Help ... - Gary Dowell and Terry Favilla Insider Trading Settlement
The Securities and Exchange Commission was successful in an insider trading suit against Terry F. Favilla, a former bank vice president and friend Garry R. Dowell. It is alleged that Favilla tipped off Dowell on a possible merger which collectively earned them over $110 thousand is stock profit. The court has ordered the pair to pay over $225 thousand tow... - UBS AG Copper Trading Scandal Settlement
Sumitomo Corp. filed a lawsuit against the bank relating to copper market transactions between 1995 and 1996. In 1996, Sumitomo's head copper trader Yasuo Hamanaka admitted running up losses of $2.6 billion in 10 years of unauthorized trading. UBS has agreed to pay Sumitomo an $86 million settlement related to the scandal. (Apr-07-06) [ MARKET WATCH... - Citigroup Inc. WorldCom Fraud Settlement
The University of California filed a lawsuit against the bank regarding its role in the 2002 collapse of WorldCom Inc. The university was an investor of WorldCom before it filed for bankruptcy in July 2002. The university claimed the former telecommunications analyst at Citigroup's Salomon Smith Barney unit issued unreasonably positive research reports... - City of Philadelphia, Tabor Children's Services and Defender Association of Philadelphia Caregiver HIV Assault Settlement
In August 1999, an 8-year-old girl was placed in the care of her half sister's father. John Lyles was a convicted bank robber who had previously been charged with physically assaulting a stepson. Seven months after the girl had been living with Lyles, his girlfriend pressed rape charges against him. After the little girl was removed from the home, she c... - Four More Actos Lawsuits Filed
Nov-8-13 St. Louis, MO Despite a recent Actos lawsuit in which Takeda Pharmaceuticals was found negligent in its labeling of Actos but wound up not having to pay, more lawsuits concerning Actos side effects have been filed. These lawsuits allege a link between Actos and bladder cancer, and allege Takeda, maker of Actos, failed to properly warn about the risks... - Bear Stearns Late Trading Settlement
The Securities and Exchange Commission and the New York Stock Exchange filed charges against the investment bank alleging illegal late trading. From 1999 through September 2003, Bear Stearns allegedly provided technology, advice and deceptive devices that enabled some customers and brokers to late trade and to evade detection by mutual funds. Preferred... - Lehman Brothers Wins Dismissal of ERISA Plan Lawsuit
Oct-24-11 New York, NY Lehman Brothers has won dismissal of an ERISA plan lawsuit filed by beneficiaries of the bank's employee stock plan. The plaintiffs alleged in their lawsuit that the defendants breached their fiduciary duty to people who invested in the employee stock plan, a violation of ERISA law. A judge found, however, that the plaintiffs did not su... - The News Is Not All Bad for Actos Lawsuits
Oct-23-13 Baltimore, MD Despite the bad news given to the family of a man who filed an Actos bladder cancer lawsuit, for those whose lawsuits are currently pending, the news is not all bad. Although Diep An’s family will not receive any of the $1.75 million award, the jury did find that Takeda Pharmaceuticals was negligent in not warning about the link bet...