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