Bank of America to Pay $16.6B to Settle Fraud Claims

In the largest-ever settlement between the U.S. government and a single company, Bank of America Corp. on Thursday agreed to pay $16.6 billion in penalties and consumer relief for selling toxic mortgage-backed securities.

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Legal Times

  • D.C. Court of Appeals Judge Frank Schwelb Dies

    By Zoe Tillman

    District of Columbia Court of Appeals Judge Frank Schwelb, who served as a judge in the city’s local courts since 1979, died on Aug. 13.

  • 6.1M Workers Could Benefit from Raised Overtime Threshold

    By Andrew Ramonas

    Employers could end up paying 6.1 million more workers overtime if the U.S. Department of Labor moves ahead with a proposal to change salary regulations to adjust for inflation, according to an analysis [LINK: ] issued by a left-leaning think tank on Wednesday.

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Litigation

  • Sixth Circuit Revives Lawsuit Over Novartis Drugs

    By Amaris Elliott-Engel

    The U.S. Court of Appeals for the Sixth Circuit has given a woman who lost part of her jaw another chance to prosecute a products liability case against Novartis Pharmaceuticals Corporation.

  • Fourth Circuit Rejects Jurisdiction Over Asbestos Case

    By Amaris Elliott-Engel

    The tit-for-tat between an asbestos plaintiff and a defendant on whether a case should proceed in state court or federal court has ended in a ruling from the U.S. Court of Appeals for the Fourth Circuit that the case should move forward in Baltimore City Circuit Court.

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