Legal

Moodys Investment Services has placed 15 California transit agencies under review for a downgrade due to a potential lack of federal funding.

The U.S. government is promoting one of the most active whistleblower programs in the world through the SEC.

The Labor secretary says Gov. Jerry Brown's reform plan diminishes both the substantive rights of transit employees under current collective bargaining agreements and narrows the future scope of collective bargaining over pensions.

Banks, bond insurers, employee pension systems and others standing to lose big if a federal judge declares Detroit insolvent are expected to legally file their objections to the largest municipal bankruptcy in U.S. history.

It calls on the SEC to establish a proactive agenda to advance the mission of protecting investors, maintaining fair, orderly, and efficient markets, and to facilitate capital formation.

About 18,000 workers employed by the state of Michigan won a court ruling knocking down a pension fee this week.