Illinois will receive a $52.5 million share of a multi-state settlement with Standard & Poor’s over allegations that the credit ratings agency knowingly inflated ratings of risky mortgage investments that sparked the financial crisis of 2008, Attorney General Lisa Madigan announced Tuesday.
The settlement is historic—not because of the size of the award but because of who’s receiving it, CBS 2’s Roseanne Tellez reports.
Aldermen have recommended settling three lawsuits against the city’s police and fire departments, for a combined $13 million.
City attorney Leslie Darling told committee members Monday videotape shows Jianqing Klyzek resisting arrest and an officer striking her after she was handcuffed. Darling said comments made by police could inflame a jury.
Illinois is set to receive a $300 million share of a record $16.7 billion nationwide settlement with Bank of America, over allegations of financial misconduct that helped lead to the 2008 financial crisis.
The deal announced Thursday by the U.S. Justice Department stems from the bank’s role in the sale of mortgage-backed securities in the run-up to the financial crisis.
As authorities in Indonesia investigate the asphyxiation death of a Chicago woman whose body was stuffed in a suitcase in Bali, a picture has begun emerging of a long history of bad blood between her and her daughter, who has been arrested in her death.
Chicago taxpayers will spend $1.2 million to compensate the family of a high school sports star with good grades who was shot in the back by an off-duty police officer.
It is part of a national settlement with Citigroup because of the bank’s misconduct in the sale of risky mortgage-backed securities
Five men wrongfully convicted of rape and murder in the infamous “Dixmoor 5” case have agreed to settle their federal lawsuit against Illinois State Police for $40 million.
First Deputy Corporation Counsel Leslie Darling told the Finance Committee that 24-year-old Edwin Hill was severely injured while waiting for a bus on the South Side in November 2008.
Abeid Armour was 17 when a Country Club Hills police officer shot into a car Armour was driving on July 24, 2010, the lawsuit said. Armour was struck with two bullets
The manufacturer of the once-popular drink “Four Loko” has reached an out-of-court settlement that bars it from going back to the formula that made it popular.
The Cook County Board is expected to settle a federal lawsuit brought by 21 deputies who allege Sheriff Tom Dart retaliated against them because they backed his political opponent when he was running sheriff in 2006.
The Archdiocese of Chicago said Wednesday it will release 6,000 pages of documents detailing what it knows about decades of clergy sex abuse allegations and how it handled them, calling it an effort to “bring healing to the victims and their families.”
The widow and daughter of a West Rogers Park man who died from cyanide poisoning after winning a $1 million lottery jackpot have reached an agreement on how to divide his estate.
The eight-year legal saga ended Friday. CBS 2’s Courtney Gousman reports.
Google has agreed to pay Illinois, the District of Columbia, and 36 other states $17 million to settle allegations that the company skirted privacy settings on Apple Safari and allowed advertisers to gather information and track consumers’ Internet browsing habits.
Johnson & Johnson has agreed to pay more than $2 billion to settle some serious criminal and civil charges with the federal government. CBS 2’s Jim Williams reports.
Officials of the northern Illinois community of Dixon approved a $40 million settlement late Tuesday with auditors and a bank in the case of former Comptroller Rita Crundwell’s theft of nearly $54 million in city funds.