Federal authorities have charged two men with running an insider trading scheme that netted more than $30 million with information stolen from law firms.
Garrett Bauer is scheduled to appear in U.S. District Court in Newark, N.J., on Wednesday afternoon. Matthew Kluger will make his first appearance in federal court in Alexandria, Va.

They're accused of trading on inside information stolen from Wilson Sonsini Goodrich & Rosati, a law firm with offices in Washington, D.C., New York, San Francisco and Hong Kong.

Authorities also allege the decades-long scheme used information stolen from prominent New York law firms Cravath Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom.

Two women who had sales jobs with Eaton Corp. have sued the Cleveland-based manufacturer alleging gender discrimination.

The two filed the class-action lawsuit Tuesday in federal court in New York City. They worked in Eaton offices in New York and New Jersey.

The women allege they were paid less than male counterparts, were passed over for promotions and suffered harassment that led to one woman having a heart attack.

Spokesman Scott Schroeder (SHROH'-dehr) says the company generally doesn't comment on pending lawsuits but is committed to fair and equal treatment of employees. He says Eaton doesn't discriminate.

The lawsuit seeks $150 million in damages for what could be hundreds of current or former employees. The suit also seeks changes in the alleged discriminatory pay and promotion policies.

Tribune Co. employees at the time of company’s 2007 leveraged buy-out are eligible to join a class action lawsuit against the ESOP trustee that represented their interests in the takeover by billionaire Sam Zell, a federal judge ruled Friday.

Any Tribune Co. employee or beneficiary who received or were entitled to an allocation to their employee stock ownership plans (ESOP) stock or ESOP cash accounts are now automatically members of the class suing Lisle-based GreatBanc Trust Co. for failing to fulfill its fiduciary responsibility in the deal, said Daniel Feinberg, an attorney representing the employees and other plaintiffs in the lawsuit.

U.S. District Judge Rebecca Pallmeyer’s ruling is the second set-back in less than a week for GreatBanc, the remaining defendant with significant liability in a 2008 lawsuit brought by Dan Neil and other Los Angeles Times staffers against the architects of the ill-fated going-private transaction.

The U.S. Supreme Court has agreed to hear a securities class action case with particularly important implications for public companies based in Texas.

At issue is a 2007 court of appeals ruling that made it more difficult for shareholders to bring securities fraud class actions in Texas, Louisiana and Mississippi. If the Supreme Court sides with the shareholder plaintiff, companies in Texas could face a flood of cases that plaintiffs previously would not have filed.

U.S. authorities say the shipping company Horizon Lines LLC has agreed to plead guilty to fixing prices and to pay a $45 million fine.

A Justice Department statement Thursday says the company was accused of conspiring to fix rates and surcharges for freight transportation between the United States and Puerto Rico from May 2002 until April 2008.

Five former executives have been sentenced after pleading guilty in 2008 to charges related to the shipping conspiracy.

The Charlotte, North Carolina-based company has a fleet of 20 U.S.-flagged cargo ships that carry items including heavy equipment, medicines and consumer goods.

In June 2009, the company agreed to pay $20 million to settle a class action price-fixing lawsuit.

Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.

The suit, a proposed class action, says Bank of America concealed defects in the recording of mortgages, which harmed investors when the company had to temporarily discontinue foreclosures last fall.

"We are reviewing the lawsuit and have no further comment at this time," said Bank of America spokeswoman Shirley Norton.

Along with other lenders like JPMorgan Chase & Co and Wells Fargo, Bank of America has been the subject of scrutiny over its foreclosure practices.

Attorneys General from 50 states kicked off an investigation last year amid questions about legal documents submitted in court.

And while litigation from angry borrowers has mushroomed, many of the leading U.S. class action firms have stayed out of the fray, citing the difficulty of recovering substantial damages.

Robbins Geller Rudman & Dowd, a major plaintiff firm known for bringing securities lawsuits, filed the case against Bank of America on Wednesday. Attorney Samuel Rudman was not available to comment.

The plaintiff, a union benefit plan, purchased nearly 25,000 Bank of America shares over three months last year at a high of $19.01, according to the court filing.

The day after news of the AG probe was announced last October, BofA's shares fell 69 cents from the previous day to close at $12.60, the lawsuit says.

It is unclear whether the plaintiff ever sold its shares. The lawsuit proposes a class made up of all who bought the stock between January 20, 2010 and October 19, 2010.

Bank of America concealed the fact that it did not have adequate personnel to process the huge numbers of foreclosed loans in its portfolio, the lawsuit says.

It also claims the bank concealed a practice of omitting billions of dollars in debt from its publicly reported balance sheet.

A $10-million class action lawsuit has been launched against Denny's restaurants in B.C., charging the family friendly diner chain wronged foreign workers by slashing hours, refusing to pay overtime and failing to pay for the workers' round-trip airfare.

The suit, filed Jan. 7, alleges Denny's restaurants in B.C. breached the contracts of more than 50 Filipino workers brought to Canada through the Temporary Foreign Workers Program, from December 2006 to the present. The program allows employers to hire foreigners to fill short-term labour shortages.

Lawyers Charles Gordon and Christopher Foy filed the lawsuit against Denny's parent companies, Northland Properties Corp. and Dencan Restaurants Inc. The lawyers say the suit is needed as foreign workers, eager to establish themselves in Canada and fearful of being sent home, are reticent to speak up when their rights are violated.

"They're put in a highly vulnerable position vis-a-vis their employers," Gordon said. "Many hope to become permanent residents but are afraid of making any waves that may jeopardize that."

The few that do typically face repercussions, Gordon said.

According to the lawsuit, a district manager threatened to send Maria Genalyn Reyes home to the Philippines if she chose to work at a competing restaurant chain once her contract ended.

Alfredo Sales was allegedly fired after demanding outstanding overtime pay and return airfare between the Philippines and Vancouver.

The employment contract signed by the workers states that it is the employer's obligation to pay for the transportation costs between the two countries.

Another worker hasn't been reimbursed for the cost of her airfare, did not consistently receive her promised hours of work and is owed overtime pay, the suit alleges.