iPhone Users Sue for Phones Without Multimedia Messaging Service
A class-action lawsuit seeking more than $5 million in damages has been filed on behalf of all iPhone users in Texas who claim they were lied to, mislead, and ripped by purchasing phones that were not equipped with multimedia messaging service.
Continue →Bear Stearns Hedge Fund Managers Not Guilty of Fraud
Two former Bear Stearns hedge fund managers have been acquitted of lying to investors about the health of two investment accounts just as the epic U.S. financial downturn was gaining speed.
Continue →Trial of Former Bear Stearns Money Managers Goes to Jury
The fate of two former Bear Stearns hedge fund managers accused of fraud in the offering of subprime mortgage-backed securities at the onset of the nation’s financial crisis is now in the hands of a New York City jury.
Continue →States Sue Amgen for Drug Sales Kickback Scheme
Fifteen states filed a lawsuit today against global biotechnology giant Amgen Inc. for allegedly engaging in fraudulent billing practices and illegally offering doctors cash, trips, and other perks to increase sales of one of its best-selling drugs.
Continue →A Drop in the Bucket: Madoff Victims Paid Just $534 Million
Only $534 million has been approved as payment to victims of convicted Ponzi schemer Bernard Madoff, who is serving life in prison after admitting he ripped off thousands of investors to the tune of about $65 billion, officials said.
Continue →Stanford Ponzi Scheme Lawsuits Consolidated Into Texas MDL
As many as 17 lawsuits brought by former investors for money lost in the alleged $8 billion Ponzi scheme run by accused swindler Allen Stanford have been consolidated into a multidistrict litigation in Texas federal court.
Continue →Two Madoff Victims Sue SEC Seeking Return of $2.4 Million Lost
In what may be the first drop in an expected flood of such lawsuits, two former investors who lost millions in the Ponzi scheme run by Bernard Madoff have sued the Securities and Exchange Commission seeking return of their lost investments.
Continue →SEC Dropped the Ball on Madoff – Again, Again and Again, Officials Say
A new report out today on the Securities and Exchange Commission’s handling of the Bernard Madoff $65 billion Ponzi scheme finds financial regulators repeatedly failed to uncover the fraudster’s historic rip-off.
Continue →Guess Jeans Co-Founder Ordered to Pay $55 Million to Former Employee for Libel
Regular readers of www.attorneyatlaw.com may remember the case of Guess Jeans Co-founder Georges Marciano, who was ordered last month to pay over $370 million to five former employees of the company for defamation. Marciano was sued for accusing the employees of stealing millions in artwork and funds.
Continue →Madoff’s Right-Hand Man Pleads Guilty in Massive Ponzi Scheme
The man who served as a top deputy to admitted Wall Street swindler Bernard Madoff pleaded guilty today to charges he helped carry out the record-setting $65 billion Ponzi scheme.
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