Law Firms

The State of California has reached a tentative $600 million settlement in a lawsuit against the French bank Crédit Lyonnais related to the sale of Executive Life Insurance in 1991. A final settlement hinges on whether Sierra National Insurance Holdings, which joined in a lawsuit separate from the state’s case in federal court, will agree […]

Bernard Ebbers, the forrmer chief executive of WorldCom, told a jury in New York on Monday that he lacked any knowledge of accounting so left all such decisions to his chief financial officer. “To this day, I don’t know technology, I don’t know finance and accounting,” said Mr Ebbers, who is accused of orchestrating an

The boy accusing Michael Jackson of molesting him has testified he slept in the US singer’s bedroom where they watched internet pornography together. Gavin Arvizo, 15, came face-to-face with the singer for the first time in court, as he took the witness stand. The boy told the court that he once considered Mr Jackson his

The arms of the justice system reached out and touched Bernard J. Ebbers this week, but it was a cold and crushing embrace. The folksy former WorldCom chief executive, one of the telecommunication bubble’s enduring icons, was found guilty for his role in an $11 billion accounting fraud, which could put him away for as

Prosecutors called Tuesday for the maximum prison sentence for the former chief executive of the Yukos oil company as the highest-profile criminal case in Russia’s post-Soviet history drew to a close. Prosecutor Dmitry Shokhin asked a Moscow court to find Mikhail Khodorkovsky guilty on tax evasion and other charges after plowing through evidence in a

The biggest defection from a UK law firm will be announced today with a 45-strong legal team moving from Denton Wilde Sapte. Eleven partners, 18 lawyers, four trainees and 12 support staff from DWS’s media and intellectual property team have switched to DLA Piper Rudnick Gray Carey, the firm that completed a large transatlantic merger

Yesterday, the U.S. attorney’s office in New York revealed its indictment of Houston oil trader and Bayoil owner David Bay Chalmers, who, the government alleges, used intermediaries to pay at least $3 million to Saddam Hussein’s dictatorship over the course of the seven-year-long United Nations Oil for Food Program. The program was meant to use

New York State’s attorney general, Eliot Spitzer, filed a lawsuit against an Internet marketing company today, saying Intermix Media Inc. is the source of secretly installed spyware that has illegally sent pop-up advertisements and other intrusions to millions of computer users. Mr. Spitzer said the Los Angeles-based company failed to properly inform people that along

The chief of the U.N. oil-for-food probe accused Congress of jeopardizing his work and asked a House committee to return secret documents, saying the lives of some witnesses could be at stake. But the Republican lawmaker who heads the committee promptly refused. Former Federal Reserve chairman Paul Volcker is seeking to dampen controversy over recent

After 56 witnesses, hundreds of exhibits, a handful of secretly recorded conversations and countless objections by lawyers on both sides, the final act begins Wednesday in the drama that has dominated this city since late January: the trial of Richard Scrushy, the former CEO of HealthSouth who is accused of masterminding a $2.7 billion accounting