The proposed settlement comes two-and-a-half months after class counsel reached a $125 million proposed settlement with Satyam for alleged accounting fraud that earned the company the nickname, "India's Enron."

In the wake of the financial crisis, Moody's, Fitch, and S&P have managed to handily defeat nearly all investor claims over AAA rated securities-gone-bad. But it's a different story if investors have evidence that the ratings agencies collaborated with banks to create risky financial products and tailored their ratings to seduce investors.

In a decision that should delight sports junkies, a judge in Manhattan rejected a bid by defense lawyers at Skadden, Proskauer Rose, and other firms to derail an antitrust class action over how pro baseball and hockey games are televised.

In a rare instance of a trial court having second thoughts, a county judge in Philadelphia has decided he shouldn't have certified a class of off-label users of a Pfizer epilepsy drug. The issues, he ruled on Monday, are too individualized.

For more than 40 years, California was out of synch with the U.S. Supreme Court, permitting defendants in state antitrust actions to argue that direct purchasers suffered no harm because they passed price increases on to consumers. With a ruling Monday that eliminates the pass-through defense, California's now in step with the federal courts.