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.
U.S. regulators on Tuesday asked for more time to react to a complaint by MetLife (MET.N) over their decision to subject the insurer to tougher oversight, and requested a judgment in the lawsuit early next year.
