Category: enforcement archive

Norfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement related to a fiery train derailment in February 2023 in eastern Ohio. The company said Tuesday that the agreement, if approved by the court, will resolve all class action claims within a 20-mile radius from the derailment and, for those residents who choose to participate, personal injury…

The European Court of Human Rights (ECHR) ruled on Tuesday in favour of a group of elderly Swiss women who had argued that their government’s inadequate efforts to combat climate change put them at risk of dying during heatwaves. The European court’s decision on the case, brought by more than 2,000 women, could have a ripple effect across Europe and…

A unit of defunct lender Credit Suisse will seek to overturn an order to pay US$743 million (S$1 billion) to a billionaire client over the actions of a notorious rogue banker at Singapore’s top court on April 8. The sum was awarded after a lower court earlier ruled that the bank’s trust had failed to safeguard the assets of Bidzina…

NEW YORK – An executive at a Swiss holding company did not get prison time for participating in a scheme to help US taxpayers hide more than US$60 million (S$81 million) in assets in a fraudulent arrangement known as the “Singapore Solution”. Daniel Walchli, 56, pleaded guilty in 2023 to a single count of conspiracy to defraud the United States…

Chemical manufacturer 3M will begin payments starting in the third quarter to many U.S. public drinking water systems as part of a multi-billion-dollar settlement over contamination with potentially harmful compounds used in firefighting foam and several consumer products, the company said. St. Paul, Minnesota-based 3M announced Monday that last year’s lawsuit settlement received final approval from the U.S. District Court…

KAZAN: A Russian court on Monday extended until June 5 the pre-trial detention of US-Russian journalist Alsu Kurmasheva, who faces 15 years in prison on charges of spreading “false information,” according to her employer. In court in the central city of Kazan on Monday, Kurmasheva smiled but complained about the poor conditions in which she was being held. “This cell…

Attorneys for Hunter Biden are expected in court Wednesday in Los Angeles, where he is accused in what prosecutors call a four-year scheme to avoid paying $1.4 million in taxes while living an extravagant lifestyle. President Joe Biden’s son has pleaded not guilty to the nine felony and misdemeanor tax offenses. He’s asking the judge to toss out the case,…

  NEW YORK – Wall Street stocks retreated March 25 as a market rally showed signs of fatigue and tech heavyweights faced stepped-up regulatory scrutiny in Europe. Maris Ogg of Fiduciary Trust said the reticent start was unsurprising given the relatively light schedule this week as far as economic news. “It certainly wouldn’t be unusual” to have some kind of…

The American plane maker has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max midflight. That’s spotlighted a lengthy series of safety and manufacturing problems that have piled up for Boeing over the years — including two devastating crashes that also involved Max jets. Leadership shakeups have arrived amid this turmoil,…

SINGAPORE – Digital content production house Vividthree Holdings in an announcement on March 24 noted the arrest of its board chairman and independent director Ho Choon Hou by the Commercial Affairs Department (CAD) in relation to alleged breaches-of-disclosure obligations by private cord blood bank Cordlife Group. Dr Ho was arrested by the CAD in relation to an offence under the…

SHANGHAI – The Chinese authorities are examining the role of PricewaterhouseCoopers in China Evergrande Group’s accounting practices after the developer was accused of a US$78 billion (S$105 billion) fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector’s meltdown. The country’s securities regulator this week accused Evergrande’s main onshore subsidiary Hengda Real…

Leo Varadkar is to step down as Ireland’s prime minister in a shock decision, saying he was no longer the right person to lead his party into a general election due within a year. Varadkar, who has been Taoiseach since December 2022 and served previously in the role between 2017 and 2020, cited personal and political decisions but gave no…

The US Department of State announced the designation of former North Macedonia Special Chief Prosecutor, Katica Janeva; current mayor of Karpos, North Macedonia, Stevco Jakimovski; and former mayor of Kacanik, Kosovo, Xhabir Zharku, for their actions undermining the rule of law and the public’s faith in their respective governments’ democratic institutions and public processes. Janeva was found to be involved in corrupt acts,…

JPMorgan is facing nearly $350 million in fines from bank regulators due to issues with its trade surveillance program. The Office of the Comptroller of the Currency said Thursday that it was assessing a $250 million civil penalty against JPMorgan Chase Bank because it found that the company “operated with gaps in trading venue coverage and without adequate data controls…

Department of Justice U.S. Attorney’s Office Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, February 29, 2024  United States Also Reaches Settlement with Endo International in Bankruptcy Case Endo Health Solutions Inc. (EHSI), which is in bankruptcy, has agreed to resolve criminal and civil investigations related to the company’s sales and marketing of the opioid drug Opana ER with INTAC…

ROME — Italy’s parliament has approved the planned acquisition of two new FREMM frigates with updated electronics and 132 combat-version Leopard tanks as well as 140 other tank versions. The new buys, approved Feb. 21 by the parliament’s defense commission, are part of a uptick in Italian military spending partly spurred by the Ukraine conflict. Italy has previously ordered 10…