SecuritiesRSS

  • 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

    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

    Feds Indict Eight More In Stock-Loan Kickback Case

    Eight people, including former stock-loan supervisors at Morgan Stanley & Co. Inc. and Janney Montgomery Scott LLC, were indicted Thursday on charges stemming from a multimillion-dollar fraud on Wall Street's stock-loan desks.

  • May 22, 2008

    SEC Moves Toward Adopting High-Tech Filing Rule

    The U.S. Securities and Exchange Commission proposed Wednesday that all mutual funds electronically tag data in their SEC filings, saying the technology would enable investors to shop among funds more efficiently by making it easier to compare such factors as fees and performance.

  • May 22, 2008

    Icahn Forces Biogen's Hand In Document Spat

    The Delaware Chancery Court has handed billionaire activist investor Carl Icahn a victory in his tussle with Biogen Idec Inc., ordering the biotechnology company to hand over material regarding an unsuccessful sale attempt last 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

    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 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.

  • May 23, 2008

    Survey Shows Companies Slow to Embrace E-Proxy

    New e-proxy rules established by the U.S. Securities and Exchange Commission went into effect Jan. 1, yet only a handful of Fortune 100 companies are taking advantage of new online options allowed by the regulations, a survey by law firm White & Case LLP has revealed.

  • May 21, 2008

    Former AIG Head Gets Tap On Shoulder From SEC

    Federal regulators have informed former American International Group Inc. CEO Maurice “Hank” Greenberg that civil charges could be in the offing for his alleged role in manipulating the insurance giant's financial statements.

  • May 21, 2008

    Refco, Multi-Bank Settle Spat Over Alleged Deposit

    Investment firm Multi-Bank Securities Inc. has agreed to pay Refco Inc.'s offshore securities broker-dealer $1.25 million to settle a dispute over a deposit Refco allegedly made with Multi-Bank before it went bankrupt three years ago.

  • May 21, 2008

    Judge Denies Amicus Brief In $1B Enron Litigation

    The judge presiding over lawsuits brought by creditors of defunct Enron Corp. against investment banks has denied a bid by a securities industry group to file a brief in support of the defendants' motions to toss the cases.

  • May 21, 2008

    Securities Attorney Arrested On Wire Fraud Charges

    A California securities lawyer was arrested Tuesday and charged with participating in a scheme that cheated individual investors out of more than $20 million.

  • May 21, 2008

    Investors Push Senate To Enact Climate Change Bill

    A group of investors that manages a combined $2.3 trillion in assets asked the U.S. Senate on Tuesday to enact strong climate change legislation and to push for specific guidance on what climate change risks companies should disclose.

  • May 21, 2008

    Ex E-Commerce Exec Settles Insider Trading Charge

    A former executive of e-commerce company Provide Commerce Inc. has agreed to pay more than $83,000 to settle charges he used inside information about the company's pending acquisition to buy and sell stock.

  • May 20, 2008

    New Bill Would Crack Down On Plaintiff Kickbacks

    U.S. Sen. John Cornyn (R-Texas) introduced a bill Monday that aims to stop the allegedly widespread criminal practice of paying clients to serve as lead plaintiffs in securities class actions.

  • May 20, 2008

    Brooks Automation Settles SEC Backdating Suit

    Brooks Automation Inc. has struck a deal with the U.S. Securities and Exchange Commission that the company says completely resolves the commission's investigation into Brooks Automation's stock-option-granting practices.

  • May 20, 2008

    Pension Funds Blamed For Commodity Price Spikes

    Growing speculation in commodities markets by institutional investors has contributed significantly to soaring prices of food and oil for U.S. consumers, a hedge fund manager told a U.S. Senate hearing on Tuesday.

  • May 20, 2008

    Ex-Assent Exec Gets Probation For Insider Trading

    A former compliance officer with Assent LLC has been sentenced to two years' probation after admitting his role in what has been described as the most pervasive Wall Street insider trading scam in history.