Former executives of bankrupt National Century Financial Enterprises Inc., who are standing trial in Ohio for fraud, will continue their defense after a federal judge ruled against their request for acquittal.
The U.S. Securities and Exchange Commission has proposed two new rules, which, if approved, will allow certain funds to trade without obtaining an exemption from regulators.
Lawyers defending specialist traders against allegations that they cheated investors reportedly told a U.S. Securities and Exchange Commission administrative law judge that the New York Stock Exchange's trading data was too flawed to convincingly show improper trading activity.
Following a $373 million payment to the U.S. government for environmental and fraud claims, BP Plc has agreed to settle with shareholders that accused the energy giant of gross mismanagement.
The U.S. Securities and Exchange Commission has decided not to file any charges against semiconductor developer Cirrus Logic Inc. for alleged stock option backdating.
A Puerto Rico-based financial holding company said Monday that it has agreed to pay about $29 million to settle a shareholder class action alleging that the company and some of its senior officers engaged in “egregious accounting fraud.”
Alston & Bird clients looking for the government's perspective on securities and health care cases will soon have a new resource, now that former Assistant U.S. Attorney Craig Carpenito has joined the firm's government investigations and compliance group.
A group of hedge funds founded by shareholder activist Phillip Goldstein has announced plans to sue the U.S. Securities and Exchange Commission in a bid to reactivate a Web site shut down after action by Massachusetts regulators.
An investment company that lured the customers of a rival brokerage to transfer $49 million in mutual funds to its control has incurred the wrath of regulators, who have accused the firm of violating federal securities laws.
As more companies look to expand their global reach, federal regulators have stepped up their enforcement of the Foreign Corrupt Practices Act, according to a new survey compiled by Shearman & Sterling.
A judge has dismissed a shareholders' derivative action, alleging that current and former officers and board members of automated teller machine and voting machine maker Diebold Inc. breached their fiduciary duty and wasted company assets.
In a 3-0 vote, the U.S. Securities and Exchange Commission voted Tuesday to propose a new rule aimed at the illegal practice known as “naked” short selling.
A former Broadcom Corp. executive who pled guilty to her role in an alleged options backdating scandal has formally settled the U.S. Securities and Exchange Commission's civil enforcement action, agreeing to pay over $1.4 million in disgorgement and penalties.
A federal judge has denied summary judgment motions in a dispute brought by Tyco International Ltd.’s bondholders against the company, arguing the company’s spin-off of its health care and electronics divisions last year violated the terms of its debt.
For Enron Corp. shareholders, the saga that began seven years ago with the massive fraud at the energy company could draw to a close any day, as a district court judge is poised to rule on the distribution plan for the $7.2 billion settlement reached in the class action litigation.
The U.S. Supreme Court has declined to hear the appeals of the founder of Adelphia Communications Corp. and his son, who had asked the court to overturn their multiple convictions stemming from an accounting fraud scandal that sent the cable company into bankruptcy.
The two largest purchasers of home loans in the United States, Fannie Mae and Freddie Mac, have agreed to form a watchdog group that will help regulators oversee home appraisals.
A damages expert used by law firm Milberg Weiss LLP in numerous securities class actions has pled guilty to perjury, marking the latest plea agreement in the long-running investigation into allegations that the firm paid kickbacks to repeat plaintiffs.
A trader who took a huge gamble on wheat futures with unauthorized trades has lost his firm, MF Global, $141.5 million in a single day.
An appellate court has refused to allow former media baron Lord Conrad Black to put off his stay behind bars, ordering him to return to prison by Monday.