Max Berger has won billions in settlements in shareholder lawsuits involving Bank of America, Lehman Brothers, Merrill Lynch, Wachovia and Washington Mutual, according to The New York Times. Sometimes viewed in a harsh light, plaintiff’s lawyers are look better when their results are compared to the smaller settlements the government tends to command.
As bonus season nears, nearly half of Wall Street employees expect high bonuses this year, according to an eFinancialServices.com survey cited by Bloomberg.
Since the Center for Responsive Politics started tracking campaign donations in 1989, Goldman Sachs has give more money to Democratic politicians than has any other corporation, according to The Journal. This year, the firm has reversed its 2008 support for President Barack Obama, and is raising money for Mitt Romney.
When les riches said they’d pay higher taxes for the good of France, they didn’t mean this high, writes Andrew Ross Sorkin.
Three years ago, 80 percent of Spain’s foreclosures were on immigrant homeowners. Today, businesspeople, upper-middle class families and guarantors (often the parents of first-time buyers) make up 60 percent of foreclosures.
Barclays said it would buy the Buy the mortgages and deposits of ING Direct U.K., the British unit of the Dutch lender.
Private equity firms including Sun Capital Partners and Cerberus Capital agreed to pay $166 million to settle a suit over the leveraged buy-out of now-defunct retailer Mervyn’s, The New York Post reports.
Goldman Sachs will pay $6.75 million to settle charges it mislabeled options orders to get better rates from various exchanges.
Richard J. Davis, a former Weil Gotschal partner, has been names the bankruptcy trustee for Fletcher International, according to The New York Post. The hedge fund, run by Alphonse “Buddy” Fletcher, is locked in a dispute with three Louisiana public pension funds.
Phil Anschutz is seeking $10 billion for Anschutz Entertainment Group, his sports and entertainment empire, according to Reuters.
The Swiss bank Julius Baer may cut 1,000 jobs after its acquisition of Merrill Lynch’s non-U.S. wealth management units from Bank of America, according to Bloomberg.
