HSBC Holdings Plc will pay $765 million to settle allegations that it sold defective residential mortgage-backed securities, resolving one of the last remaining U.S. investigations stemming from the mortgage meltdown a decade ago.
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Tesla has published its first voluntary "Vehicle Safety Report," and the numbers seem to clearly back CEO Elon Musk's assertion that drivers who use Tesla's sort of self-driving Autopilot feature are involved in fewer crashes than those who turn it off, and far fewer crashes than the general driving population.
This charade continued for about a decade until major allegations were made against the company and the board for conducting fraudulent and incorrect testing.
The Securities and Exchange Commission today charged a Virginia real estate developer with skimming investor funds that were intended for use in purchasing an office building near the site of a planned commuter rail station on the Washington Metropolitan Area Transit Authority's Silver Line.
U.S. District Judge Charles R. Breyer, overseeing the landmark Volkswagen Dieselgate lawsuits, issued an order allowing the RICO and state law claims of consumers who sold their affected vehicles prior to the disclosure of the fraud to continue, according to Hagens Berman.
The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against two individuals and their companies in a scheme that generated more than $165 million of illegal sales of stock in at least 50 microcap companies.
Ticketmaster and its parent company Live Nation are facing a class-action lawsuit over allegations that it facilitated scalping of live event tickets.
Four whistleblowers including Michael Mullen, a former chief operating officer at AmerisourceBergen Specialty Group, will share $99 million from the payout, lawyers for Mullen said.
Volkswagen has terminated the contract of Rupert Stadler, the suspended chief executive of its premium brand Audi, amid an ongoing emissions probe.
Critics are questioning the motives behind a banking giant's socially responsible investment strategy.
First there was Dieselgate, then there was Partneo, and now there is the suspicion of OEMs forming cartels to lower down their ambitions for green technology.
Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday.
Uber will pay $148m and tighten data security after the ride-hailing company failed for a year to notify drivers that hackers had stolen their personal information, according to a settlement announced on Wednesday.
Four years after launching a massive, incredibly delayed recall aimed at preventing further deaths from its faulty ignition switches, General Motors freed itself from a criminal case launched in the scandal's wake.
"Whistleblowers, whether they are located in the U.S. or abroad, provide a valuable service to investors and help us stop wrongdoing," said Jane Norberg, Chief of the SEC's Office of the Whistleblower. "This award recognizes the continued, important assistance provided by the whistleblower throughout the course of the investigation."
The Dieselgate scandal shook the industry, as it was revealed car manufacturers including Volkswagen were rigging emissions-testing software in their diesel vehicles to make them seem more environmentally friendly than they actually were.
The German carmaker Porsche says it will stop making diesel cars, and concentrate on petrol, electric and hybrid engines instead.
The Illinois Supreme Court smashed the profit motive behind a pattern of tax false claims lawsuits by a prolific Chicago plaintiff attorney, ruling the "king of qui tam" can't serve as both the whistleblower and counsel for the whistleblower in such actions.
Reuters is reporting that the case was dismissed after GM fulfilled the terms of its settlement with the government over the ignition switch scandal, which led to an estimated 124 deaths and 275 injuries.
It was all part of what regulators are calling "the Blackfish effect" — a spiraling crisis that threatened SeaWorld's reputation, according to the U.S. Securities and Exchange Commission.
