Irving Picard pulled out all the stops in a bid to revive mega-billions claims against big banks that allegedly facilitated Bernie Madoff's massive Ponzi scheme. But it wasn't enough.

The complaint is under seal, but in a statement, Picard's lawyers at Baker & Hostetler say Madoff couldn't have perpetrated his historic Ponzi scheme without the willful blindness of his primary bankers at JPMorgan, who allegedly ignored Madoff's suspicious behavior for decades.

With Cravath's reputation at stake, the $5.1 billion hostile takeover battle between Air Products and Airgas gets juicier by the day.

The court approved Selectica's creative defense, but is that a good thing?

On Wednesday the federal home loan banks--which bought their mortgage-backed certificates for $8.8 billion--filed what looks to be the biggest challenge yet to Bank of America's proposed $8.5 billion settlement with the trustee for holders of Countrywide residential mortgage-backed securities.

More details about a massive False Claims Act settlement that prosecutors reached with Bank of America earlier this month spilled into the public domain on Friday, when a federal judge in Brooklyn unsealed a whistleblower complaint against Countrywide Financial that sources confirm is related to the deal.

Bank of America's battle with the SEC may be dominating the headlines, but the bank's other Merrill Lynch merger litigation grinds on. On Monday, a Delaware judge refused to dismiss a shareholder derivative suit against BofA directors over the merger, possibly paving the way for a trial.

The litigation between the U.S. and the Swiss bank UBS is beginning to take on the feel of a high-stakes diplomatic summit. A hearing had been set for today in Miami federal court, where the Internal Revenue Service is trying to force UBS to reveal the names of wealthy Americans with offshore accounts suspected of cheating on their taxes. But on Monday, a federal judge gave the parties more time to negotiate.