Companies across the country have been riddled with lawsuits for alleged securities fraud since the late 1990s. According to one report, more than 3,050 securities litigation cases have been brought against companies. Many of these lawsuits come from shareholders themselves that are upset because of a decision that executives at the company have made.
The details need to be worked out we’re told, but it appears that JPMorgan Chase & Co. is on its way to settling a slew of civil claims related to the sale of faulty mortgage-backed securities.
If you thought you had heard the end of the Bernard Madoff case, think again. Five former underlings of the now-convicted operator of one of history's biggest securities fraud schemes are before the federal court bench in New York in the early stages of a trial that is expected to last about five months.