A statewide class action in which Massachusetts homeowners accuse U.S. Bancorp and Ally Financial Inc. of faulty foreclosures will resume now that the state’s high court ruled in a similar case last week.

The litigation was on hold while the Supreme Judicial Court decided whether state law required foreclosures to be conducted by the mortgage owner. The high court ruled Jan. 7 in U.S. Bank v. Ibanez that an industry practice allowing post-foreclosure assignments violated state law.

“This is a statewide class action and it’s going to bring relief to all of the people who are dispossessed homeowners in many instances,” Kevin Costello, a lawyer for the borrowers, said in a telephone interview today. Costello today filed a motion to restart evidence gathering in the case.

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed.

Unwinding of foreclosures may lead to loan workouts with homeowners or force originators to buy back loans that ended up in mortgage-backed securities.

The major record labels have agreed to pay $45 million to settle claims they failed to pay songwriters and music publishers while including their works on compilation albums. Warner Music, EMI, Universal Music and Sony BMG were sued in 2008 in a class action by Canadian songwriters and music publishers.

Generally, labels had established a practice of including songs on compilations for which they had not yet secured proper rights, placing them on a "pending list" for later payment.

TorrentFreak noted that the pending list for unpaid tracks had reached 300,000 just in Canada.

In addition to the $45 million to be paid by the labels to artists, the proposed settlement "also establishes a new mechanism that will expedite future payments of mechanical royalties to music rights holders."

"This agreement with the four major labels resolves all outstanding pending list claims," said David Basskin, president and CEO the Canadian Musical Reproduction Rights Agency (CMRRA).

The Obama administration is exploring ways to boost tax incentives for corporate investment in the United States, Treasury Secretary Timothy Geithner said on Wednesday, ahead of his meeting with chief financial officers from some of America's biggest companies.

"We're examining whether we can find political support for a comprehensive tax reform -- revenue neutral -- but that would improve incentives for investing in the United States," Geithner said in comments after a speech at Johns Hopkins University's School of Advanced International Studies.

Geithner is expected to meet with CFOs of major U.S. companies including Microsoft Corp and Cisco Systems on Friday to hash out ideas for simplifying and trimming the corporate tax -- nearly the highest in the industrialized world.

Corporate tax reform is the starting place for a conversation about broader tax reform, administration officials have said. However, a divided Congress will make it difficult to pass any meaningful reform over the next two years.

Several White House officials have said they agree with companies' main gripe that the federal corporate tax rate -- topping out at 35 percent -- is too steep. Both sides also say the tax code is way too voluminous and cumbersome.

A new foundation, Investor Claims against Fortis, has started legal proceedings in the Netherlands against the former bancassurer Fortis for "misleading investors", which it claims led to combined losses of €2bn.

The organisation argues that Fortis persisted in persuading investors to invest between May 2007 and October 2008 when the company was already on the ropes.

One of the foundation's claims is that Fortis failed to supply timely, accurate information about its exposure to sub-prime mortgages in the US.

The legal case – brought for the Utrecht court in the Netherlands – comes after the US high court decided that a class action by "foreign investors who have bought a stake in foreign companies on foreign stock markets" was inadmissible in a US court.

Within the EU, the legal climate in the Netherlands is ideal for shareholders wishing to reclaim damages from listed companies, according to Jay Eisenhofer, partner at law firm Grant & Eisenhofer.

Stuart Berman of law firm Barroway Topaz added: "This case offers a valuable framework for compensating duped investors outside the US."

Both law firms, as well as Alexander Reus, the foundation's director, have represented international shareholders against Shell for providing incorrect information about its oil reserves.

After Fortis became one of the three players that took over Dutch bank ABN Amro, it had to be rescued by the national governments of the Netherlands, Belgium and Luxembourg.

A coalition of environmental and Native American groups on Monday sued the California Department of Fish and Game over permits issued to build 21,000 homes on Los Angeles County's last major tract of undeveloped land.

The coalition, which filed the suit in San Francisco County Superior Court, alleges that fish and game officials violated state environmental codes in granting permits Dec. 3 for the controversial Newhall Ranch development.

"It is appalling that the Department of Fish and Game, the trustee for all of California's wildlife, approved ecological destruction on this scale," said John Buse, a senior attorney for the Center for Biological Diversity, one of the plaintiffs. "Far less damaging options were available, but the department brushed them aside."

Fish and Game spokesman Andrew Hughan said he could not comment because the department has not yet seen the lawsuit, but in an earlier statement department officials said the approved plan will preserve 70 percent of the nearly 14,000-acre area as natural open space.

That space includes preserves to protect 76 percent of the rare San Fernando Valley spineflower and 93 percent of the Santa Clara River corridor.

Developers must also establish a $6 million endowment for preservation efforts.

"Hundreds of people, including biologists, botanists, hydrologists and other scientists, worked together to shape this biologically innovative project, and the end result ensures the protection of this site's unique natural resources," said Ed Pert, South Coast regional manager.