The U.S. Supreme Court turned away an appeal from the first commodities trader convicted of spoofing since Congress made it a crime, rejecting arguments that the 2010 ban is so vague it should be overturned. The justices, without comment Monday, left intact a three-year prison sentence imposed on Michael Coscia, the former principal of Panther Energy Trading.
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The emissions scandal catapulted the native Austrian to the pole position at the carmaker. But investigations at Volkswagen and his former employer, BMW, pose a risk to his stellar career.
The regulatory findings will also be closely read by lawmakers keen to ensure top banking officials are held accountable for their actions at a time when there are growing calls to better protect whistleblowers.
Jeep is recalling nearly 240,000 SUVs in the United States to replace a suspension part that may break and cause drivers to lose control of the vehicles.
A heavy weight has finally been lifted off the shoulders of Royal Bank of Scotland CEO Ross McEwan. The British bank said today that it agreed to pay $4.9 billion to the US Justice Department to settle an investigation into RBS's mis-selling of mortgage securities in the run-up to the global financial crisis.
A former Massachusetts man who ran what prosecutors called a Ponzi-style scheme that defrauded 15 investors out of more than $6 million has been convicted.
Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.
Audi has admitted that another 60,000 A6 and A7 models with diesel engines have emission software issues. The number is on top of the 850,000 recalled last year by the Volkswagen subsidiary, of which only some have been found to require modification. The so-called dieselgate emissions scandal first came to light in September 2015.
The German prosecutors are investigating Winterkorn and 48 others in connection with the emissions scandal. U.S. authorities charged Winterkorn on Thursday with fraud and conspiracy in connect with use of illegal software used to cheat on U.S. diesel emissions tests.
Wells Fargo & Co. agreed to pay $480 million to settle a class-action lawsuit in which investors accused the bank of securities fraud related to its fake-account scandal. The settlement resolves the main class-action suit brought by shareholders targeting the bank's allegedly deficient disclosures related to its sales practices. It had previously set aside reserves for the settlement, according to a regulatory filing Friday. Wells Fargo said in a statement that it denies the allegations in the suit.
Rio Tinto's chairman has defended the company's culture amid allegations of fraud related to the miner's accounting of a coal venture in 2012.
Cambridge Analytica announced Wednesday that its parent group, SCL, has filed applications to begin insolvency proceedings in the UK and will be ceasing all operations. The political consulting firm is also planning to begin bankruptcy proceedings in the U.S. The company reportedly made the decision because it was losing clients and has to pay soaring legal fees as a result of allegations that it improperly accessed Facebook data.
A proposed settlement in the General Motors ignition switch lawsuit could trigger GM's obligation to transfer 30 million shares to the bankruptcy Trust, adding over $1 billion to a settlement fund to pay economic loss and injury claims brought by owners of GM vehicles affected by a barrage of safety defects, according to Hagens Berman.
California, along with 16 other states and the District of Columbia, are suing the Environmental Protection Agency over its rollback of clean car rules passed during the Obama administration.
The Securities and Exchange Commission today announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme. The defendants agreed to permanent injunctions, an asset freeze, and expedited discovery.
The Panasonic parent company, in a settlement announced Monday, will pay $143 million in disgorgement to the Securities and Exchange Commission, while Panasonic Avionics Corp. agreed to pay about $137 million in penalties to the Justice Department for violations of the accounting provisions of the Foreign Corrupt Practices Act.
As someone who has just made legal history as an international whistleblower, Andrew Patrick perhaps rightly believes he has a message that British employers should heed.
Seems like we're always hearing about another car recall, but those are only the big ones. Each year, automakers issues hundreds of recalls that involve tens of millions of vehicles - and most never make the news.
The Malaysian prime minister, Najib Razak, has insisted there was no wrongdoing in the 1MDB scandal and instead blamed a "problematic business model" for the billions of dollars that went missing from a government investment fund.
An independent trust handling General Motors Co.'s old bankruptcy claims reached a new settlement with customers who sued the automaker years ago over faulty ignition switches -- a deal that could force GM to give up more than $1 billion in new stock if a judge approves it.
