Takata will reorganize around its retained assets and the company will continue operations for several months. Read more
In February, Takata pleaded guilty to wire fraud charges in the U.S. for systematically withholding information about the defects. Read more
U.S. District Judge Sara L. Ellis, an Illinois federal judge, has given preliminary approval to a $44.5 million settlement to resolve a class action accusing U.S. Bank NA of facilitating the... Read more
A lawsuit against PricewaterhouseCoopers (PwC) seeking $1 billion in damages will be allowed to go to trial. It is alleged in the suit that the firm’s bad accounting advice was a substantial... Read more
A New Jersey federal judge has given preliminary approval to a $9 million class action settlement resolving securities claims that senior executives at The Great Atlantic & Pacific Tea C... Read more
On November5th, American Suzuki Motor Corp. filed for Chapter 11 bankruptcy protection and said it will cease selling automobiles in the U.S. as part of a plan to restructure its business. T... Read more
Ally Bank, the nation’s fifth-largest mortgage servicer formerly known as GMAC Mortgage, has recently put its mortgage subsidiary, Residential Capital, into bankruptcy. As you may recall, Al... Read more
Based on a recent court order, it appears that the Jefferson County bankruptcy is now going forward. U.S. Bankruptcy Judge Thomas Bennett issued an order last month stating that Jefferson Co... Read more
Lee Iacocca and about 450 other Chrysler white-collar retirees have filed a class-action lawsuit in a Michigan court. The Plaintiffs, who say they lost a big chunk of their pensions when Chr... Read more
A federal criminal investigation is continuing into the activities of Colonial BancGroup, according to a report to Congress that was released on April 20th. The Special Inspector General for... Read more
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