The top U.S. consumer watchdog said on Tuesday that arbitration clauses used by companies to dodge lawsuits take away consumers' rights to sue in courts and do not provide much relief to them.
A federal jury ordered PNC Bank to pay $391 million in damages for its role in an alleged insurance scam involving prepaid funeral contracts at the now-defunct National Prearranged Services (NPS).
Galleon Group hedge fund founder Raj Rajaratnam and former Goldman Sachs Group Inc director Rajat Gupta are seeking to overturn penalties imposed against them for insider trading, citing a recent U.S. court decision that narrowed the definition of that offense.
BP Plc on Friday ended its bid to oust the administrator overseeing payouts to businesses and individuals claiming damages arising from the 2010 Gulf of Mexico oil spill, citing steps the administrator has taken to reduce the threat of fraud.
