Gary Newsome, a former CEO of Health Management Associates Inc, was named a defendant of a whistleblower lawsuit alleging kickbacks at the company, Bloomberg reported.

The New York Federal Reserve Bank filed a motion in a federal court in the Southern District of New York seeking a dismissal of the lawsuit filed by former employee Carmen Segarra.

JPMorgan Chase & Co settled a lawsuit brought against it by the Federal Home Loan Bank of Pittsburgh involving the losses it sustained from mortgage securities it bought from the bank, Bloomberg reported.

The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.

The American Bankers Association, a group that represents mostly community banks, has filed a complaint challenging the final version of the Volcker Rule, Bloomberg reported.

JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.

UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.

The Louisiana Sheriffs' Pension and Relief Fund sued IBM for its cooperation with the National Security Agency over a spying program that allegedly hurt investors, Bloomberg reported.

Concert promoter AEG Live was not responsible for Michael Jackson's death, the jury ruled. A jury in a Los Angeles court cleared concert promoter AEG Live of any liability in Michael Jackson's death in 2009.

Mumbai-based Kingfisher Airlines sued International Aero Engines for engine defects. Mumbai-based Kingfisher Airlines Ltd filed a lawsuit against International Aero Engines (IAE) for defects in the planes' engines.