Archive | Legal News

Morgan Stanley’s Lies Cost Them $1.25 Billion

Watch out, bankers – the government isn’t going to let you slide any longer. The Federal Housing finance Agency (FHFA) started suing banks in 2011 to recover some of the money that taxpayers lost during 2008. Among these banks is Morgan Stanley, whose faulty mortgage-backed securities helped ruin Freddie Mac and Fannie Mae. Morgan Stanley […]

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JPMorgan Owns Up to Its Mistakes – to the Tune of $614 Million

Financial giant JPMorgan has taken the next step in making amends to the American government and its people, by agreeing to pay $614 million in settlements. The bank acknowledged that its practices of approving ineligible Veterans Affairs and Federal Housing Administration loans violated the False Claims Act, and that they failed to disclose their internal […]

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The FBI Begins its Investigation into the Elk River Chemical Spill

Nearly 300,000 people in nine counties throughout West Virginia were affected by the chemical leak into the Elk River on January 9th, 2014. For almost 10 days, residents were unable to drink from their taps or shower in their homes. Now, the FBI has thrown its hat in the ring as it takes a long, […]

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Mount Olive Schools Offer No Branches in Whistleblower Case

When Mount Olive School District mechanic Robert Dukin was let go from his position after reporting a number of problems with the school buses, he filed a whistleblower case against the district. The cases was dismissed in 2010, but an appeals court reinstated it on January 27, 2014, claiming the case did have enough evidence […]

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It’s All Greek to Me – Unless I Move to the UK, That Is

If Greek yogurt isn’t made in Greece, is it really Greek Yogurt? Maybe in America, but not in the UK.   Chobani, a popular US producer of yogurt, saw the losing side of a court case initiated by its rival Fage, who claimed that the labeling confused buyers. In a nutshell, Fage argued that consumers […]

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Judge: Goldman must face class-action suit over CDOs.

  The Wall Street Journal (1/24, Chaudhuri, Subscription Publication, 5.91M) reports that a Federal judge ruled Goldman Sachs must face a class-action lawsuit accusing the bank of defrauding investors who bought over $2 billion in CDOs linked to subprime mortgages. Hedge fund Dodona I LLC, which leads the group suing the firm, argues Goldman bet subprime mortgages […]

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