contracts

Investor Lawsuits Are Raising the Heat on Bank of America for 'Putbacks'

When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn't just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide's buyer, Bank of America, to force it to repurchase those bad mortgages. That's their right, but there's nothing simple about this case, or its ramifications.

Department of Justice Accuses Oracle of Fraud

The U.S. Justice Department is accusing software company Oracle (ORCL) of defrauding the government on a contract worth over $1 billion. In a complaint filed yesterday in U.S. District Court for the Eastern District of Virginia, the Justice Department alleges that Oracle misled the government about its business practices, causing government clients to get worse deals on Oracle%u2019s services than the company%u2019s private sector clients.