In its filing with the U.S. Securities and Exchange Commission, BofA disclosed that the state of New York has been investigating how it acquire and underwrites home loans.
Legal & Regulatory
Kodak Gets Flexible Financing
Kodak gets flexible financing and reorganization plans as it prepares to come out of bankruptcy. The bankrupt photography icon Eastman Kodak Inc was allowed to amend its financing deal in order to become more financially flexible as it girds to exit Chapter 11 bankruptcy protection.
Wynn Faces Suit over Breach of Fiduciary Duties
Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Macy's Files Charges Against Martha Stewart and J.C. Penney
Macy's is filing charge against J.C. Penney and Martha Steward over their plans to launch Martha boutiques at Penney Stores.
Credit Suisse Reaches Mortgage Case Settlement with Ambac
Credit Suisse and Ambac Financial are reportedly agreeing on the settlement of mortgage-backed securities.
Latest News
Greenlight ends legal battle with Apple over shareholder vote. In a surprising move, Greenlight Capital has withdrawn its suit against Apple Inc. Greenlight's maverick head David Einhorn sought court intervention to stop the most valuable company in the world's shareholders from voting on a management proposal to prevent the company's ability to issue preferred shares at its discretion.
Lloyds Bank to pay for past misdeeds. Britain's largest retail bank, Lloyds is set to announce an increase in money for compensation to pay customers and clients for losses sustained on mis-sold loan insurance.
Court ruling ordering Argentina to pay debt notes on appeal. Analysts project that Argentina would lose its case against its creditors in its case filed in US courts.
Ryanair's third attempt to purchase Aer Lingus refused by EU regulators. European Union regulators have refused to validate the third purchase attempt by Ryanair to acquire Aer Lingus.
Scams on fraudulent private equities rob individuals of hard earned money. The city of Tianjin in China was rocked with controversy as thousands of retail investors claimed they were tricked by a group that offered illegal wealth management products.
The bankruptcy plan filed by Dewey & LeBoeuf was approved by judge Martin Glenn. U. S. Bankruptcy judge Martin Glenn has approved the liquidation plan of Dewey & LeBoeuf, which once had over 1,000 lawyers in 206 offices around the world.
Dewey and LeBoeuf bankruptcy plan approved. A federal bankruptcy court ordered the approval of the liquidation plan for Dewey and LeBoeuf. This is a milestone for the closure of the collapsed law firm to pave the way for creditors to recover their losses.
Monte dei Paschi is seeking to be bailed out after failing to meet European requirements. Italy's Treasury is waiting for a deadline on March 1 to grant a state bailout worth $3.
The European antitrust regulators have reject the offer of Ryanair to acquire Aer Lingus. The European antitrust regulators have vetoed the third attempt of Ryanair to take over Aer ingus, saying that the Irish low-cost airline had not shown sufficient concessions to relieve issues on its monopoly on 46 routes.
