Online “marketing” company Webloyalty has settled with the New York AG for $5.2 mil. You know how when you buy movie tickets and at the end it says, “You won a free $10 gift certificate!” And then if you read the small print it says that if you accept the gift certificate you get signed up for a discount club that charges a monthly fee? Yeah, that was their game. [More]
New York Attorney General Andrew Cuomo announced today that his office had negotiated improved “accommodations” for owners of recalled Toyotas. In short, Toyota agreed to come to your house and get the car if you’re too freaked out to drive it. [More]
Andrew Cuomo has announced a lawsuit against Bank of America’s former CEO Kenneth D. Lewis, its former CFO Joseph L. Price, and the company itself, for “duping shareholders and the federal government in order to complete a merger with Merrill Lynch.” Uh oh! [More]
New York’s Attorney General has subpoenaed 22 retailers as part of an investigation into the allegedly deceptive practices of internet “discount clubs” Webloyalty, Affinion and Vertrue. “We want it stopped. We believe it is a classic consumer fraud,” said Cuomo. [More]
The NY AG’s office says that CVS will pay an $875,000 settlement to end legal action against them over the sale of “expired products – including over-the-counter drugs, baby formula, milk, and eggs – at stores across New York State.”
Andrew Cuomo, the Attorney General of New York, has filed a lawsuit against Intel, claiming that the company is an illegal monopoly that engages “in a worldwide, systematic campaign of illegal conduct – revealed in e-mails – in order to maintain its monopoly power and prices in the market for microprocessors.”
Brett wants the EVT America electric scooter he was promised. A scooter that was supposed to have a top speed of 40-45 mph, and required a motorcycle license. Unfortunately, while at top speed the speedometer reads 45 mph, he claims that reality differs.
U.S. Open Backtracks After Telling 42,500 People They'll Get No Refund For Spending A Day In The Rain
The U.S. Golf Association initially told 42,500 U.S. Open ticketholders who spent most of Thursday standing in the rain that they would be unable to refund or exchange their tickets. Then New York State Attorney General Andrew Cuomo stepped in and convinced the USGA to make the washed-out tickets valid for entry on Monday. Tomorrow’s forecast: rain.
We wrote in January about a new $10 per month fee that Chase was arbitrarily imposing on customers who had transferred balances to their Chase cards. Well after having a little chat with New York Attorney General Andrew Cuomo, Chase announced that they’ll stop charging this ridiculous fee and they’ll be refunding customers’ previous payments.
New York Attorney General Andrew Cuomo has written a letter to House Financial Services Chairman Barney Frank, offering some advice on what topics they might discuss at tomorrow’s AIG hearing. Among them: Giving “retention” bonuses to people who have left the company, making 73 millionaires in “the unit which lost so much money that it brought the firm to its knees” and the fact that without a taxpayer bailout — the “best and brightest” at AIG wouldn’t have jobs from which to collect impressive guaranteed bonuses.
“We had given AGI up to 4 o’clock today to provide the information on the latest round of bonuses that they paid out,” Cuomo told reporters. “Four o’clock has come and gone.”
Andrew Cuomo has written a letter to AIG in which he explains that they will turn over the names of those employees from the Financial Products subsidiary (that’s the division that brought down the company) who are receiving bonuses by 4:00 pm today or they are coming at them with subpoenas. Yes, ladies and gentlemen, it’s another awesome Andrew Cuomo letter after the jump.
Well, it looks like the whole Merrill Lynch bonus scandal may have a Scooby Doo ending — with a judge unmasking the executives by the end of next week.
The NY AG has served Bank of America with a subpoena after they refused to release the names of the individuals who received over $3 billion in bonuses while Merrill Lynch was hemorrhaging money.
Merrill Lynch CEO: "Nothing Happened In The World Or The Economy" That Would Justify Suspending Bonuses
New York Attorney General Andrew Cuomo wrote a letter yesterday to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee, (which is currently holding hearings Washington on how banks are spending bailout funds.) In the letter, Cuomo expresses concern that Merrill Lynch moved up their bonus schedule so that they could make sure that taxpayers would get the bill.