Tesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday.
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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.
On September 18th, 2015, the US Environmental Protection Agency informed the public about VW's and Audi's violation of the Clean Air Act, causing government agencies around the world to launch investigations.
The Securities and Exchange Commission today announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver.
The SEC's whistleblower program has now awarded approximately $322 million to 58 individuals since issuing its first award in 2012. In that time, more than $1.6 billion in monetary sanctions have been ordered against wrongdoers based on actionable information received by whistleblowers.
The Chevrolet Colorado ZR2 is supposed to be a rough-and-tumble, body-on-frame, solid rear axle-having pickup that can handle off-road trails with ease. And yet, a number of trucks' airbags are deploying on mild off-road trails, leaving owners with major hassles. Here's what's going on.
General Motors Co (GM.N) is recalling 1.205 million pickup trucks and sport utility vehicles worldwide due to issues with a temporary loss of power steering, the No.1 U.S. automaker said on Thursday.
The Securities and Exchange Commission today announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses.
Attorney General George P. Jepsen announced Tuesday his office is suing the co-defendants under the state's False Claims Act for three times the $10.9 million in losses it claims to have suffered from the fraud.
Talk about a bad break. General Motors is issuing a recall on 210,628 vehicles in the United States and 19,385 vehicles in Canada due to a soft, spongey brake pedal. The recall impacts hundreds of thousands of 2018 and 2019 models of Chevrolet Bolt, Cruze, Equinox, Impala, Malibu, and Volt as well as Buick Cadillac XTS, LaCrosse, Regal; and GMC Terrain. The full list of car models being recalled can be found here.
James C. Katzman, a Goldman partner and the leader of its West Coast mergers-and-acquisitions practice, dialed the bank's whistle-blower hotline in 2014 to complain about what he regarded as a range of unethical practices, according to accounts by people close to Mr. Katzman
Former Volkswagen boss Martin Winterkorn was slow to address emissions test cheating that led to huge U.S. fines, a judge hearing a damages case brought by investors against the German carmaker said on Tuesday.
The Securities and Exchange Commission today charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock.
