A Manhattan federal jury has been robbed of its chance to decide whether the collapse of financial firm MF Global was the fault of its CEO Jon Corzine or his accounting firm. MF Global, which was seeking to pin the blame for the firm’s stunning 2011 demise on PriceWaterHouseCoopers, settled the case mid-trial, sources said. The parties reached an agreement on Wednesday and notified the judge …
The U.S. Supreme Court on Friday agreed to resolve a legal dispute over whether certain securities class action lawsuits can be barred because they were filed too late. The justices agreed to hear an appeal filed by the California Public Employees’ Retirement System seeking to revive a lawsuit against various financial institutions over their alleged role …
The owner of two Florida Mountain communications towers that collapsed in 2014 is suing Verizon for nearly $500,000. North Adams Tower Company alleges that upgrades Verizon made to equipment it owns on one of the towers caused it to collapse and take with it a second tower on March 29, 2014. The first tower to collapse was 160 feet tall.
A US JUDGE has given the go-ahead for a $1bn lawsuit against PwC over claims the firm provided bad accounting advice which contributed to the 2011 collapse of MF Global. MF Global and its parent company, MF Global Holdings Ltd, collapsed in October 2011 after investors left the firm on learning about risky bets on sovereign debt taken by former chairman and New Jersey Senator Jon Corzine. In a …
A Delaware judge has dismissed a lawsuit filed against three major U.S. clothing retailers after the 2013 collapse of a garment factory in Bangladesh that killed more than 1,100 people. An injured worker and a man whose wife died in the collapse lodged the complaint last year against Wal-Mart Stores, J.C. Penney and the Children’s Place. The lawsuit claimed the companies failed to ensure safe …