BUSINESS
December 16, 1994 | LESLIE HELM, TIMES STAFF WRITER
In an ominous new twist to the Pentium chip controversy, computer users in corporations around the world are rushing to establish whether a flaw in the Intel microprocessor may have resulted in miscalculations that could make them vulnerable to lawsuits or trouble from government agencies.
BUSINESS
June 29, 2009 | Associated Press
General Motors Corp. has agreed to take on responsibility for future product liability claims, removing what could have been a sizable roadblock on the automaker's path to a quick sale of its assets and emergence from Chapter 11 bankruptcy as a new company. As part of its government-backed restructuring plan, GM wants to sell the bulk of its assets to a new company and leave behind unprofitable assets and other liabilities such as product-related lawsuits.
BUSINESS
January 6, 2012 | By Jim Puzzanghera, This post has been corrected, as indicated below
The Securities and Exchange Commission said Friday it no longer would settle civil suits without an admission of liability in cases in which the defendant has been convicted of criminal violations or admitted to them. The policy change comes after a federal judge in November rejected a $285 million settlement between the SEC and Citigroup Inc. in which liability was neither admitted nor denied. The judge harshly criticized the agency for imposing a "relatively modest" punishment on large banks for wrongdoing leading up to the financial crisis.
BUSINESS
August 28, 2009 | Bloomberg News
Chrysler Group, the U.S. automaker run by Fiat, said it would accept product liability claims on Chrysler vehicles made before the company exited bankruptcy June 10 and those involved in accidents on or after that date. Chrysler Group announced its changed policy on liability claims in a letter sent to members of Congress, the company said. Chrysler Group purchased most of the assets of the old Chrysler company, now called Old Carco, when it emerged from bankruptcy. Initially, as part of the U.S. Bankruptcy Court's approval of the purchase, Chrysler Group agreed to assume liability only for cars sold by the new company.
BUSINESS
July 13, 1987 | VICTOR F. ZONANA, Times Staff Writer
Banks that play hardball with borrowers are finding themselves the target of suits alleging breach of good faith, breach of fiduciary duty, fraud, intentional infliction of emotional distress and even slander. Not long ago, the main thing banks had to worry about was whether their borrowers could pay their loans back on time.
BUSINESS
June 27, 2010 | By Barry Stone
Question: I recently inherited an old home that is in general disrepair. I want to sell it but am concerned about disclosure liability. I'd like to do an as-is sale and simply disclose all the defects I am aware of. If a buyer signs an as-is contract, can I still be sued or held liable for defects that I fail to disclose? If so, how can I protect myself? Answer: Disclosure liability can always be reduced, but it can never be eliminated completely. This is because people can file lawsuits for any or no reason at all. The best you can do is to eliminate as many reasons as possible.