AIG could join case against US January 8, 2013 AIG, the insurer rescued by the US government in 2008 with a bailout that ultimately totaled $182bn (£113.3bn), may now join a lawsuit against the government alleging the terms of the deal were unfair, the company said yesterday. AIG said its board would meet today to discuss joining a lawsuit filed against the government by [...]
Shareholders in Bankia gear up for lawsuit June 10, 2012 SPANISH shareholder group AEMEC said over the weekend that more than a thousand investors have shown an interest in pursuing a civil claim against bailed-out caja conglomerate Bankia. Shareholders allege irregularities in the way its stock market listing was handled, according to their lawyers Cremades & Calvo-Sotelo. Spain’s public prosecutor last week launched an anti-corruption [...]
AIG will not sue US government January 9, 2013 Insurance giant AIG yesterday said it would not sue the US government over terms of the company’s multi-billion dollar bailout following a public outcry. The company had considered joining a lawsuit led by its former chief executive Hank Greenberg, whose company Starr International owned 12 per cent of AIG before the $182bn (£114bn) rescue in 2008. [...]
US authorities probe trades in Heinz shares February 17, 2013 US securities regulators have filed a lawsuit against unknown traders in the options of ketchup maker HJ Heinz. The Securities and Exchange Commission (SEC) alleges that traders acted on inside information before Heinz announced a deal to be acquired for $23bn (£14.8bn) by Warren Buffett’s Berkshire Hathaway and Brazil’s 3G Capital. The suit marks the [...]
Minority partner looks to block sale of Canadian diamond mine January 17, 2013 HARRY Winston Diamond’s plan to buy BHP Billiton’s Ekati diamond operations in Northern Canada hit a snag yesterday, with a minority partner filing a lawsuit to try to block the deal. C Fipke Holdings, which has a right of first refusal on the sale, is alleging that BHP Billiton failed to comply with their joint [...]
Bear Stearns investors agree to end lawsuit June 7, 2012 FORMER Bear Stearns shareholders who claimed they were misled about the investment bank’s deteriorating health yesterday agreed to settle their lawsuit for $275m (£176m), four years after the company was bought by JP Morgan Chase. The all-cash settlement resolves claims against Bear and several former executives including long-time chief executive James Cayne, his successor, Alan [...]
Door not closed on Armstrong criminal charge February 6, 2013 DISGRACED former cyclist Lance Armstrong may yet face criminal charges in his native America, despite an attorney’s suggestion to the contrary, following his doping admissions. Armstrong is under investigation by the Food and Drug Administration (FDA), who could probe allegations he obstructed justice and intimidated witnesses, according to US media. Attorney Andre Birotte dropped a [...]
Patent wars hit record high as tech firms fight January 27, 2013 THE GLOBAL technology patent wars hit a new high in 2012, with a record number of applications made for international computing patents. A flurry of costly court cases between smartphone and tablet companies such as Apple, Samsung and Nokia has upped the value of patents in the last 12 months, and this was responsible for [...]
Facebook hit by lawsuit over its float May 23, 2012 FACEBOOK shares rose three per cent to $32 yesterday, reversing the stock’s two-day slide. But the internet idol’s IPO woes are far from over after Facebook was yesterday hit by lawsuits from disgruntled shareholders. US law firm Robbins Geller filed a class action on behalf of new Facebook investors, alleging that the prospectus issued ahead of the IPO was [...]
What the other papers say this morning February 26, 2013 FINANCIAL TIMES Esure warned against overpricing Top fund managers have warned Esure against overpricing its initial public offering as the motor and home insurer prepares to launch London’s latest float as early as today. Bankers were yesterday finalising the details of the planned float as analysts said that the most recent publicly available accounts indicated [...]