Xstrata lawsuit gets go-ahead March 20, 2012 A Canadian court has given the green light to a $1.8bn environmental class action lawsuit against London-listed mining group Xstrata. The claimants are arguing that a subsidiary of Xstrata released a toxic cloud from a sulphuric acid plant in 2004 and are asking for damages for a range of medical complaints, lawyers said in a [...]
YouView sued by Yorkshire telecoms group in trademark name dispute November 26, 2012 YOUVIEW, the internet-connected set top TV box company backed by BT and the BBC, has been sued in the High Court for trademark infringement, and may have to face a hefty payout or change its name. The lawsuit, from Yorkshire-based telecoms firm Total, comes after YouView lost an appeal to have its name trademarked. Two [...]
Police watchdog slams links to News Corp as lawsuits reach US April 12, 2012 SENIOR London police staff linked to the News Corp phone hacking scandal showed poor judgement, took bad decisions and got too close to journalists working for Rupert Murdoch’s newspapers, an independent watchdog said yesterday. While the Independent Police Complaints Commission (IPCC) rejected allegations of corruption involving two of the top personnel at the Metropolitan Police [...]
Lawsuit for Healthcare Locums February 29, 2012 Shares in troubled nursing recruitment agency Healthcare Locums fell by more than 20 per cent yesterday after several of its US investors launched a lawsuit against the company. Healthcare Locums came close to collapsing last year when accounting irregularities were found in its books. Hedge funds including Permian and Arundel have joined forces to file [...]
Tests looked at fraud, lawsuits and meltdown March 14, 2012 THE FEDERAL Reserve’s stress test results, released two days ahead of schedule yesterday, put banks’ balance sheets through a projected financial meltdown over a two and a quarter year period. The Fed said the 19 banks taking part would lose a total of $534bn under the worst-case scenario, including loan losses, market shock as well [...]
Royal Bank of Canada hit by CFTC’s futures lawsuit April 2, 2012 THE US futures regulator yesterday accused the Royal Bank of Canada of running a “massive” multi-hundred-million-dollar trading scheme to gain lucrative Canadian tax benefits. The Commodity Futures Trading Commission’s civil lawsuit alleges that a small group of senior RBC employees created and managed a “wash trading” strategy in which they improperly coordinated to allow subsidiaries of [...]
Apple shares hit a five-month low as it loses Facetime battle November 7, 2012 SHARES in Apple slumped to a five-month low yesterday after it was ordered to pay $368m (£230m) over a US patent dispute over its Facetime video calling service. Although the fine, paid to Connecticut company VirnetX, is small compared to Apple’s $120bn cash pile, the ruling could affect future use of the technology in Apple’s [...]
Tepco investors launch lawsuit March 5, 2012 Shareholders of Tokyo Electric Power Co, operator of the crippled Fukushima nuclear plant in northeast Japan, are suing the utility’s executives for a record 5.5 trillion yen (£42.5bn) in compensation, lawyers said. In the biggest claim of its kind in Japan, 42 shareholders filed a lawsuit accusing 27 current and former Tepco directors of ignoring [...]
BTA poised to seize oligarch’s assets after appeal thrown out November 6, 2012 MUKHTAR Ablyazov, a fugitive oligarch accused of embezzling more than $5bn (£3.1bn), was labelled “devious” and “cynical” by judges yesterday as his former Kazakh bank BTA prepared to pounce on his assets. On the eve of his fraud trial, the Court of Appeal threw out Ablyazov’s attempts in absentia to overturn a 22-month jail sentence [...]
BTA poised to seize oligarch’s assets after appeal thrown out November 6, 2012 MUKHTAR Ablyazov, a fugitive oligarch accused of embezzling more than $5bn (£3.1bn), was labelled “devious” and “cynical” by judges yesterday as his former Kazakh bank BTA prepared to pounce on his assets. On the eve of his fraud trial, the Court of Appeal threw out Ablyazov’s attempts in absentia to overturn a 22-month jail sentence [...]