Credit Crisis Caused Rise In Class-Action Fraud Suits
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Class-action lawsuits that accuse companies of defrauding investors increased more than 40 percent last year, fueled by troubled mortgage investments and a volatile stock market, according to a study released yesterday.
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The New York attorney general&#39;s investigation into abuses in the insurance industry escalated yesterday with a lawsuit accusing a California broker of fraudulent practices that led to higher
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William S. Lerach has been under investigation over an alleged scheme to pay plaintiffs in class-action lawsuits.
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Several banks looking to join forces in a class-action lawsuit say that the massive breach of retailer TJX's systems revealed data on some 94 million of its customers' payment cards.
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Experts say the WorldCom settlement is part of an evolving trend in which those who commit financial misdeeds, or fail in their duty to stop them, pay significant penalties.
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LOS ANGELES -- The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing...
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Thousands of credit card numbers and other personal data may have been compromised.
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The suit, filed against the National Education Association, reflects heightened concern among retirement plan participants that excessive fees are diminishing their savings and enriching financial services firms.
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Investors poured back into equities on Thursday, hoping a rescue plan for ailing bond issuers would stop a new round of credit losses, although claims of a massive trade fraud added to financial sector worries.
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Citigroup Inc. C.N faces a lawsuit  from angry investors who allege they were defrauded in a  "massive scheme of deception" when they bought securities tied  to the credit-worthiness of bankrupt energy trader Enron Corp.  ENRNQ.PK
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Credit card firms have raised numerous charges for using their cards in the past year, according to Which?
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Defaults have risen rapidly in the underlying mortgages in securities issued in the last half of 2006.
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Fear of bond insurers losing their  investment-grade credit ratings is rattling investors as  estimates mount for the cost of paying for the latest chapter  in the widening U.S. credit crisis.
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Citigroup Inc. C.N faces a lawsuit  from angry investors who allege they were defrauded in a  "massive scheme of deception" when they bought securities tied  to the credit-worthiness of Enron Corp. ENRNQ.PK.
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Some of IT's biggest profits are found in the courtroom.
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New York City Comptroller William  Thompson on Friday expanded a class-action law suit filed  against Countrywide Financial Corp , naming additional  company officers and directors, 26 underwriters and two  accounting firms.
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Last yearâs bankruptcy reforms could make the current credit squeeze even worse; the varieties of money laundering; and a warning to customer service managers.