SecuritiesRSS

  • May 28, 2008

    SEC Secretary Of 2 Years Returns To Private Sector

    Nancy Morris, the secretary of the U.S. Securities and Exchange Commission, left the agency on Friday to become an executive vice president at Allianz Global Investors of America, the SEC has announced.

  • May 28, 2008

    Whole Foods CEO Regrets Posts But Slams Media

    Whole Foods Market Inc. CEO John Mackey has apologized to company stakeholders and criticized the media for “malicious speculation” and “misleading coverage” about his anonymous Web postings against then-rival Wild Oats Markets Inc. that spurred investigations by the company and the U.S. Securities and Exchange Commission.

  • May 28, 2008

    Bear Stearns To Hand Over Records To SEC: WSJ

    Bear Stearns Cos. will reportedly hand over documents to the U.S. Securities & Exchange Commission that reveal that big guns like Goldman Sachs Group slashed their exposure to the financial giant only days prior to its collapse.

  • May 29, 2008

    Former SEC Counsel Joins Alston & Bird

    Alston & Bird LLP has hired Carol McGee, former deputy chief counsel for the U.S. Securities and Exchange Commission's corporate finance division, as a partner in its Washington, D.C., securities practice, the firm announced Tuesday.

  • May 27, 2008

    3rd Circuit Rejects Isolagen Appeal As Premature

    An appeals court has refused to consider the appeal of a lower court's decision dismissing a derivative lawsuit against biotechnology company Isolagen Inc., saying the appeal was premature because the district court's decision was not sufficiently final.

  • May 27, 2008

    Citing Philanthropy, Weiss Asks For Leniency

    Lawyers for Melvyn Weiss have asked a judge to give their client a sentence of 18 months for his role in a kickback scheme, noting the once-prominent attorney's age, charitable work and place as “one of the most extraordinary men of this generation.”

  • May 27, 2008

    SEC Adds 4 More European Regulatory Allies

    The U.S. Securities and Exchange Commission broadened international accounting standards on Friday by signing cooperative agreements with financial regulators in four European countries.

  • May 27, 2008

    Ex-Baker & McKenzie Lawyer Hit With 2nd Indictment

    A former lawyer at Baker & McKenzie LLP has been indicted on charges of money laundering and wire fraud stemming from an alleged theft uncovered after he was earlier indicted on securities fraud.

  • May 27, 2008

    Amtrak Cheated Public Shareholders: Suit

    Amtrak's largest public shareholder has accused the national train carrier of violating its statutory obligations by failing to redeem its stock at fair market value after nixing a buyback deal that would have included real estate.

  • May 27, 2008

    SEC Probe Of Ex-AIG Exec Also Looks At Capco Deal

    The U.S. Securities and Exchange Commission's probe of the former American International Group Inc. chief executive reportedly extends beyond a review of a deal the insurer struck with General Reinsurance Corp. to include a second agreement that affected the company's earning restatement in 2005.

  • May 27, 2008

    VAALCO Energy Settles Proxy Fight With Hedge Fund

    VAALCO Energy Inc. and Nanes Delorme Partners I LP have settled a proxy battle and legal dispute over the hedge fund's attempts to replace three of the energy company's board members with its own representatives.

  • May 27, 2008

    Insider Trading Claims Against Tellabs CEO Tossed

    Tellabs Inc. CEO Michael Birck is now off the hook in the ongoing securities suit against the technology company, after a federal judge ruled that claims that Birck engaged in illegal insider trading did not meet federal standards of liability.

  • May 23, 2008

    Congress Wary Of DOJ's Corporate Monitoring Info

    The U.S. Department of Justice has appointed a slew of former prosecutors and other government officials as corporate monitors in arrangements to watch over deferred prosecution agreements, a process that has recently come under intense scrutiny by lawmakers as they question how forthcoming the DOJ has been.

  • June 5, 2008

    Fight Continues Over 7th Circ. Mutual Fund Fee Ruling

    In a decision many say has the power to potentially upend 30 years of precedent in the mutual fund industry, shareholders and mutual fund trustees are still trying to read the tea leaves of a recent appeals court ruling that said judges shouldn't cap mutual fund advisory fees.

  • May 23, 2008

    Judge Holds Amaranth's Feet To Fire Of CFTC Claims

    A federal judge has denied Amaranth Advisors LLC's attempt to have a suit brought by the U.S. Commodity Futures Trading Commission tossed out, leaving the regulatory organization free to pursue its claims that the defunct hedge fund's energy trading constituted market manipulation.

  • May 23, 2008

    UBS Scores Win In $475M Subprime Contract Suit

    In a case that provides a window into the elaborate financing that fueled the onetime subprime securities boom, a New York state judge has tossed a complaint against a UBS AG affiliate in a $475 million dispute over real estate-related debt obligations.

  • May 23, 2008

    Milberg Fights Criminal Forfeiture In Kickback Case

    Embattled class action firm Milberg LLP, which is facing trial in August on charges it paid illegal kickbacks to lead plaintiffs, is fighting efforts by prosecutors to recoup the proceeds of the alleged 20-year conspiracy.

  • May 22, 2008

    Pension Fund Sues AIG Over Risky Investments

    A group of shareholders has accused insurance Goliath American International Group Inc. of federal securities fraud for covering up the extent of its exposure to collateralized debt obligations in the residential mortgage market, which has notoriously tanked over the past year.

  • May 23, 2008

    Ex-Bayou Boss Settles With SEC In Hedge Fund Fraud

    A former Bayou Fund LLC executive sentenced to 51 months in prison for allegedly defrauding investors out of millions of dollars has settled a civil injunction action from the U.S. Securities and Exchange Commission.

  • May 22, 2008

    Investors Sue Computershare Over Stock Certificates

    Shareholders of a bank that Capital One Financial Corp. acquired in 2006 have filed a proposed class action against Computershare Inc., saying the exchange agent failed to convert their old shares into Capital One shares and cash as promised, causing significant loss of potential profit and interest.