Litigation

Recent Posts

SEC Reaches $137M Settlement With Bank Of America Subsidiary In Municipal Bond Investigation
Posted on 8 Dec 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) A former subsidiary of Bank of America Corp. that is now part of Merrill Lynch, Pierce, Fenner and Smith LLP on Dec. 7 agreed to a $137 million settlement of a Securities and Exchange Commission investigation into allegations... Read More

Allstate Sues Goldman Sachs Over Toxic Investments
Posted on 18 Aug 2011 by LexisNexis Litigation Resource Community Staff

(AP) Allstate Corp. is suing Goldman Sachs Group Inc. claiming the broker fraudulently sold it more than $123 million in mortgage-backed securities in 2006 and 2007, before the housing market collapse sent the investments' value plunging. The insurer... Read More

AIG Sues Bank Of America For $10 Billion Over Mortgages
Posted on 10 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The suit... Read More

N.Y. Trustee Seeks $1 Billion From 7 International Banks
Posted on 9 Dec 2010 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Seven global banking institutions enabled disgraced financier Bernard Madoff's Ponzi scheme by "creating and offering derivative investment products linked to various Madoff feeder funds," a court-appointed trustee alleged... Read More

Madoff Lawsuit: Mets Owners Owe Victims $300 Million
Posted on 7 Feb 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) The owners of the Mets turned a blind eye to Bernard Madoff's massive fraud, reaping $300 million in false profits and using a large chunk to run the team, according to a lawsuit unsealed Friday. The lawsuit claims the owners were... Read More

Judge Drops Charges In Enron Case
Posted on 17 Sep 2010 by LexisNexis Litigation Resource Community Staff

HOUSTON - (AP) A judge on Thursday dismissed charges against a third defendant in a problematic Enron-related case marred by overturned convictions and flawed legal theory. The motion by prosecutors to have charges against former Merrill Lynch executive... Read More