BP Faces a $10 Billion Refinery Lawsuit

BP may have finally succeeded in plugging the worst oil leak in U.S. history, but its troubles are far from over. Thousands of Texas City, Tex. residents have joined a potential $10 billion class-action lawsuit against the U.K.-based oil company for failing to notify them about a leak at its Texas City refinery, which spewed roughly 500,000 pounds of pollutants into the air between April 6 and May 16.

Legal Briefing: Ratings Agencies Try to Avoid Lawsuits

Now that credit rating agencies can be sued for issuing inflated ratings, they're refusing to allow their ratings to be used to sell bonds. Unfortunately, since some types of bonds are required to have such ratings, those parts of the bond market are shutting down.

John Edwards' Mistress Seeks Share of Aide's Bestselling Book Profits

The ongoing court battle between Rielle Hunter, the mistress of John Edwards, and Andrew Young, a top aide to the former Senator, has added a new twist: lawyers for Hunter argued that she should have some of the profits from The Politician, Young's number-one bestselling tell-all about Edwards'life on the campaign trail.

Toyota's Second Shoe Drops: Shareholders Sue

Toyota faces several pending class actions that allege it publicly dismissed the seriousness of several design flaws while knowing that the problems might have caused a dramatic sell-off of Toyota shares.

Orange County Sues Toyota Over Defects

Things just keep getting worse for Toyota Motor. Orange County, Calif. prosecutors filed the first consumer protection lawsuit against the world's top car maker, alleging Toyota knew of acceleration defects in its vehicles and chose to sell them anyway.