investors News

Greensill Insurance Mystery Turns Up the Heat on Credit Suisse

Credit Suisse told investors the debt in its $7.3 billion finance fund was low risk because it was insured but the bank failed to ensure the policies would pay out, two sources told Reuters. When Japan’s Tokio Marine, the company …

Top Investors to Call for Improved Working Conditions in Care Homes

LONDON — A group of investors managing a collective $3 trillion in assets will call on operators of nursing homes to improve pay and working standards for care workers, noting the “devastating outcomes” of the COVID-19 pandemic on the industry. …

TC Energy, Ex-Columbia Pipeline Execs Must Face Lawsuit Over $10 Billion Deal

WILMINGTON, Del. — TC Energy Corp and two former Columbia Pipeline Group Inc executives must defend against a lawsuit claiming the companies’ $10 billion merger in 2016 shortchanged Columbia investors, a Delaware judge ruled on Monday. Vice Chancellor Travis Laster …

Rogue Captain’s Mid-Ocean Detour Tips Investors to Crisis at Sea

Terence Tsai started hearing about the growing labor crisis in shipping in a roundabout way. First, in March, an official at a ship management company in Hong Kong let slip that a captain had purposefully diverted a vessel under its …

Purdue Creditors Zero In on Sackler Messages From a Decade Ago

Bankruptcy creditors are pointing to a trove of decade-old documents as they probe whether members of the billionaire Sackler family improperly took funds out of Purdue Pharma LP, the maker of OxyContin, to keep the assets away from victims of …

Exxon Calls Massachusetts Fraud Suit Punishment for Opinion

Exxon Mobil Corp. told a judge that a fraud lawsuit filed by Massachusetts last year amounts to illegal punishment for the energy giant’s views about fossil fuels, the latest twist in their bitter clash over climate change. The suit by …

Company Offering Pandemic Stock Tips Accused of $137M Fraud

OLLEGE PARK, Md. (AP) –The founders of a company called Raging Bull tout themselves as expert stock traders who teach customers how they, too, can become millionaires. Marketing emails said they found a “hidden bull market” in the COVID-19 pandemic. …

J&J Sued for Misleading Auris Investors Over 2019 Buyout

Johnson & Johnson was accused in a lawsuit of falsely promising billions of dollars in future payments to Auris Health Inc. investors last year when J&J agreed to spend as much as $5.7 billion to acquire the company. Fortis Advisors …

Baupost Collects $3 Billion Wagering on PG&E’s Wildfire Claims

Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people with knowledge of the …

Dakota Pipeline Investors Could Face Major Hit After Adverse Ruling

BOSTON/DENVER — Large investors in the Dakota Access Pipeline, including Phillips 66, could be on the hook for hundreds of millions in payments, after a U.S. court on Monday ordered the shutdown of the major artery. The U.S. District Court …