LAWSUIT

Ally Financial's Mortgage Unit Reported To File Bankruptcy

IBTimes Logo
Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
IBTimes Logo

Ally Financial's Mortgage Unit Reported Near Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.
More news
John Travolta

John Travolta Masseuse Lawsuit: Top 5 Bizarre Claims

A recent lawsuit against John Travolta will do little to quell the longstanding rumors that the actor is a closeted homosexual. An ex-masseur is suing the actor for $2 million, claiming that he sexually assaulted him back in January.
Lilia Blandin was stabbed to death by her husband in the middle of a Wal-Mart, but the store refused to close afterwards.

CalSTRS Sues Wal-Mart Over Mexico Bribery Allegations

The California State Teachers' Retirement System (CalSTRS) is suing Wal-Mart Stores Inc. (NYSE: WMT), accusing leaders of the world's biggest retailer of not upholding the best interest of shareholders by quashing an investigation of bribery of public officials by its Mexican subsidiary.
IBTimes Logo

Daniel Chong Forgotten In DEA Cell: Lawyer Files $20M Lawsuit Claiming His Client Was Subjected to ?Torture?

A UC San Diego student, who was forgotten by the DEA in a cell for five days without food, water or any human contact, has filed a $20 million lawsuit against federal drug officials saying he suffered kidney failure. Daniel Chong's attorney Eugene Iredale has sent a five-page demand notice to the Drug Enforcement Administration's (DEA) general counsel, the San Diego Union-Tribune reported.
ConocoPhillips

ConocoPhillips Fined $257M For Chinese Oil Spill

Houston-based oil ang gas giant ConocoPhillips (NYSE: COP) has been fined $257 million to settle charges brought by the Chinese government following a massive oil spill. The company's Chinese venture partner, CNOOC Ltd., was also fined, to the tune of $76 million.
Google

Shareholder Sues Google To Prevent Stock Split

Google Inc and its board were sued on Monday by a shareholder who wants to block the company's stock split plan because it entrenches the Web search company's co-founders Larry Page and Sergey Brin, according to court documents.
Hilda Solis

Court Blocks Labor Dept Changes To Guest-Worker Visa

A federal district judge issued a last-minute preliminary injunction that blocks the implementation of Department of Labor rules that stiffen employer obligations under the H-2B non-farm seasonal work visa. The rules were set to go into effect Friday, April 27.
IBTimes Logo

Emily Herx Fired From Catholic School Teacher After Fighting For 'The Right To Have A Family'

An Indiana teacher was fired from a Roman Catholic school after undergoing in vitro fertilization, which the Church strictly shuns, according to the Associated Press. The 31-year-old former educator, Emily Herx, is filing a lawsuit claiming that her termination last June was a result of discrimination. The case could spark serious legal controversy over reproductive rights and religious rights.
IBTimes Logo

Fraud lawsuit survives over Goldman's Abacus CDO

Goldman Sachs Group Inc must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly enrich itself.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.