Even if they're shut out of recovery in WMI's bankruptcy, shareholders are looking good in their securities class action against some pretty deep pocketed defendants. Plus: The judge confirms Bernstein Litowitz as class counsel, despite some conduct she called "unseemly."

An appellate panel says the lower court was wrong to conclude Blackstone's alleged failure to disclose its exposure to subprime mortgages wasn't material.

Shareholders claim that Morgan Stanley's officers and directors breached their fiduciary duty, committed waste, and were unjustly enriched when they approved a total of $45 billion in compensation for Morgan Stanley employees for the years 2006, 2007, and 2009.

The Fairfield Greenwich Group, which fed $7 billion of its investors' money to Bernie Madoff, has run into trouble with regulators in Massachusetts and a state judge in Connecticut.