Articles

Federal Home Loan Bank suing major players

The Federal Home Loan Bank of Indianapolis has filed suit against some of the nation’s largest financial institutions, including Bank of America, Wells Fargo and J.P. Morgan Chase, to recover losses on a $3 billion portfolio of mortgage-backed securities.

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Controversy engulfs Devington community group

Devington Community Development Corp. tried to tackle a host of neighborhood ills before closing its doors this month. But the agency also was embroiled in disputes with a local minister and its landlord.

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Bankruptcy trustee sues Durham art bidders

A Florida art dealer who successfully bid more than $260,000 on artwork that once belonged to Fair Finance Co. co-owner Timothy Durham says he canceled the sale. Now he and another big bidder from Philadelphia are being sued by Fair Finance bankruptcy trustee Brian Bash for nonpayment.

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Court upholds Lilly patent on cancer drug Alimta

A U.S. District Court judge on Monday upheld Eli Lilly and Co.’s patent on the cancer drug Alimta, protecting the compound until July 2016. It was a welcome win after a difficult few months for Indianapolis-based Lilly, which is facing a wave of patent expirations in coming years.

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Mike’s Express Carwash sued in family feud

Mike’s Express Carwash and its principals, Bill and Mike Dahm, sons of founder Joe Dahm, are facing a lawsuit in Hamilton Superior Court brought by Jerry Dahm, a cousin who owned 35 percent of the company until May.

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Bank of America seeks to dismiss racketeering suit

Homeowners Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown home last year.

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Citigroup subsidiary agrees to $717,000 Indiana fine

The penalty stems from charges that Citigroup Global Markets failed to monitor a former agent accused of working with Robert Nelms, who was sentenced in May for securities fraud involving a $24 million cemetery trust fund operated by Indianapolis-based Memory Gardens Management Corp.

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State sues WellPoint over data breach

The lawsuit filed Friday in Marion County accuses Indianapolis-based WellPoint of violating a state law that requires businesses to provide notification of data breaches in a timely manner.

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Workplace safety rules a part of ND death probe

State regulators are investigating whether the University of Notre Dame violated safety rules when it allowed a student to videotape football practice from a tall hydraulic lift that toppled in high winds, killing the young man.

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