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Category: Litigation

JPMorgan To Pay $500 Million In Bear Stearns Mortgage Settlement

JPMorgan To Pay $500 Million In Bear Stearns Mortgage Settlement

LitigationBecause it is cheaper to settle than it’s to go to court, and because the city wants this story to go away.

The deal, subject to approval by a federal judge in Indiana where the cases had been consolidated, would end nationwide litigation claiming that as a result of drivers were required to make use of firm-branded vans, uniforms and scanners, FedEx was their employer under federal and state laws. The other defendants are Barclays Plc, BNP Paribas SA, Credit Suisse Group AG, Deutsche Bank AG , Goldman Sachs Group Inc, HSBC Holdings Plc , Morgan Stanley, Royal Bank of Scotland Group Plc and UBS Group AG. The case is In re Vivendi Universal SA Securities Litigation, U.S. District Court, Southern District of New York, No. 02-05571.

JPMorgan has resolved related litigation over mortgage offerings from the previous Washington Mutual Inc, which the New York-primarily based financial institution also purchased … Read more

How Much Would It Cost To Fight A Civil Case In Court?

How Much Would It Cost To Fight A Civil Case In Court?

LitigationIn a choice on Wednesday evening, U.S. District Judge Lucy Koh in San Jose, California, said it was unclear that the accord, which provided no money for plaintiffs but as much as $2.2 million in fees and expenses for their legal professionals, would guarantee Google’s compliance with federal and state privacy laws.

Probably it’s not such a good suggestion in personal damage or complicated litigation until both events are totally behind it. The cost is very near a bench trial and in reality the mediators in large scale mediation are far costlier than the courts. U.S. District Judge Katherine Polk Failla in Manhattan stated the plaintiffs, together with a number of dozen funds from BlackRock Inc ( BLK.N ), Pacific Investment Management Co ( ), Prudential Financial Inc ( PRU.N ) and TIAA-CREF, could pursue breach of contract and battle of curiosity claims associated to 53 trusts. The case is … Read more

Wells Fargo Says Litigation Costs Could Exceed Provisions By $1.7 Billion

Wells Fargo Says Litigation Costs Could Exceed Provisions By $1.7 Billion

LitigationNEW YORK (Reuters) – A small buying and selling alternate on Thursday filed an antitrust lawsuit accusing Bank of America Corp , Citigroup Inc, JPMorgan Chase & Co and nine other banks of conspiring to close it out of the $9.9 trillion credit score default swap market.

It sued the identical 12 banks in April 2016 for allegedly conspiring to block customers from trading interest rate swaps on its platform. Bear was not accused of fraud, but investors sought to carry it strictly liable and negligent for their losses. Lawyers for the investors stated Credit Suisse Group AG ( CSGN.S ) and Deutsche Bank AG ( ) have but to settle. Deutsche Bank declined to remark. Credit Suisse was not immediately obtainable for comment after market hours. Vivendi said it’s going to release a roughly 25 million euro ($26.6 million) reserve it had set aside for Thursday’s accord. A preliminary … Read more