Tag Archives: business

Billion Dollar Divorce for Oklahoma Oil Man

Money

Harold Hamm, named by Forbes as the 24th richest man in the world, is set to pay one of the biggest divorce settlements in history to former wife Sue Hamm. Mr. Hamm owns the largest piece of the nations most oil-rich land in North Dakota. “Mr. Hamm, who has described himself as “more hardheaded than other people,” did not have a particular document that is all but standard now whenever tycoons wed: a prenuptial agreement”. After the 9-week trial, Sue Hamm will now be amongst the richest women in the country. Mr. Hamm is required to pay his ex-wife one-third of the total settlement ($320 million) by the end of this year. Read More

Blacklisted? Investors Rally Against Blackberry

Sweet or sour?

Blackberry’s tough times continue as their shareholders cry foul. In a recent class-action lawsuit, thousands of investors claim that they were misled by the company’s lofty sales expectations. Many are complaining that the company failed to compete with industry leaders Google and Apple (let alone Microsoft). The lawsuit includes a number of those who bought stock in Blackberry over the past calendar year. Unhappy campers are furious that they mistakenly placed their faith in the wrong smartphone/technology movement and are seeking damages. Read more

Citizens Pays $132.5 Million for Overdraft Practices

Show me the money

Citizens Financial Group, a bank based in Rhode Island, was accused of unfair business practices in its calculation of overdraft fees for its poorer customers. Instead of processing transactions in the chronological order they were created, the bank elected to process them from largest to smallest. This increased the likeliness and amount of overdraft fees, which are levied when a customer spends more money than he/she has in the bank.

Read on to find out exactly how these customers were ripped off