Litigation/Liability Trends
PIMCO Claims Gross Was Warned About Losing $200M Bonus if He Quit
Bill Gross was warned he would lose his bonus if he quit Pacific Investment Management Co. before the end of the quarter, PIMCO said in a court filing, challenging the central claim in his lawsuit ...
Uber Expands into More African Countries
Uber Technologies Inc. plans to start operating in three new African countries by the end of June, extending its reach 2 1/2 years after introducing its ride-hailing service in the continent. The ...
California Slaps Morgan Stanley with Suit Over Mortgage Losses
The state of California sued Morgan Stanley on Friday, accusing the bank of hiding the risks of complex mortgage debt and other securities it sold, causing big losses for the state's public pension ...
U.S. Hospitals Increasingly Vulnerable to Ransomware Attacks: Study
U.S. hospitals should brace for a surge in "ransomware" attacks by cyber criminals who infect and shut down computer networks, then demand payment in return for unlocking them, a non-profit ...
Ex-QBE Executive Sentenced in $2.6M Embezzlement Scheme
A former executive of QBE Insurance Group was sentenced on Thursday to 1-1/2 years in prison for conspiring to embezzle $2.6 million from the insurance company, some of which he used to buy a house ...
Insurance Group Blasts Safety of U.S. Car Headlights
Headlights on a third of U.S. midsize car models do a poor job, and only one, the Toyota Prius v, performed well enough with an optional upgrade to earn a good rating from the Insurance Institute for ...
FBI Seeks Help from U.S. Businesses in Ransomware Hacker Investigation
FBI is asking businesses and software security experts for emergency assistance in its investigation into a pernicious new type of "ransomware" virus used by hackers for extortion. "We need your ...
Russia Hedge Fund Manager, Others Settle U.S. Press Release Hacking Case
A Moscow-based hedge fund manager, his investment firms and two Paris-based funds have agreed to pay nearly $18 million to resolve a U.S. regulator's claims that they engaged in insider trading using ...