New York Attorney General Eliot Spitzer and the state�s Insurance Department filed a lawsuit today against American International Group, the nation�s largest business insurance company, accusing the firm of manipulating its books to deceive regulators and the investing public.
The lawsuit, filed in State Supreme Court in Manhattan, alleges that AIG former top management, including [...]

A federal court has denied NovaStar Financial’s motion to dismiss the class action lawsuit against the company.
The lawsuit alleges that between October 29, 2003 and April 8, 2004, NovaStar and certain of its senior executives violated the federal securities laws. Specifically, the complaint alleges that the company repeatedly emphasized the advantages and importance of its [...]

A class action lawsuit was filed in the U.S. District Court for the Southern District of New York, on behalf of all persons who purchased securities of American International Group, Inc. (”AIG”) between October 1, 1999 and March 30, 2005 (the “Class Period”).
The lawsuit alleges that the defendants made false statements and concealed material information [...]

The law firm Schatz & Nobel, P.C. announced Thursday that it has filed a lawsuit against Biogen Idec Inc. on behalf of all persons who purchased securities of Biogen between February 18, 2004 and February 25, 2005, (the “Class Period”).
The lawsuit alleges that Biogen violated federal securities laws by issuing false and misleading information about [...]

A class action lawsuit was filed on behalf of all persons who purchased American Depository Receipts (”ADRS”) of AstraZeneca, PLC between April 2, 2003 and October 11, 2004, (the “Class Period”).
The lawsuit, filed in U.S. District Court for the District of Massachusetts by the law firm Stull, Stull & Brody, alleges that the drug maker [...]

A federal judge granted preliminary approval on Wednesday to a $1 billion settlement between 298 companies that issued initial public stock offerings during the internet bubble and thousands of investors who cliam they were victims of fraud.
The agreement, reached in June 2003, shifts focus on the investbanks. Investors legal claims against them are still pending.
Plaintiffs [...]

Two executives of a Florida-based investment company pleaded guilty to state criminal charges in connection with the ongoing investigation of illegal trading practices in the mutual fund industry, New York Attorney General Eliot Spitzer said Tuesday.
In a related development, the Securities & Exchange Commission announced a $750,000 civil settlement against the brokers.
According to the attorney [...]

A senior executive of Marsh & McLennan Companies pleaded guilty to criminal charges in connection with an ongoing investigation of fraud and bid rigging in the insurance industry, New York Attorney General Eliot Spitizer said last week.
In his guilty plea, Robert Stearns, a senior vice president at the Marsh, admitted that he instructed insurance companies [...]

A class action lawsuit on Friday was filed against American International Group (AIG) and three AIG executives, on behalf of all people who purchased AIG securities between October 28, 1999 and October 13, 2004, the law firm Stull, Stull & Brody said in a press release.
Defendants named in the suit include AIG Chief Executive [...]

A class action lawsuit was filed against Aon Corporation on behalf of shareholders who purchased Aon securities, including common stock, between October 31, 2002 and October 18, 2004, the law firm Lerach Coughlin Stoia Geller Rudman & Robbins LLP said on Monday in a press release.
The lawsuit, filed U.S. District Court for the Northern District [...]