Although the 10 firms allowed to pay back their TARP money will not face the same level of regulation as their competitors still sporting major government holdings, attorneys working with the financial services industry said that banks considering paying back the money should understand that, in this case, freedom really won't be totally free.
Plaintiffs' attorneys have asked for about $200,000 of the settlement of a class action accusing former executives and directors of bankrupt health care software company e-MedSoft.com of misleading investors about its alliance with collapsed National Century Financial Enterprises Inc.
A federal grand jury has charged Stanford Financial Group Chief Investment Officer Laura Pendergest-Holt with obstruction of justice in the U.S. Securities and Exchange Commission’s ongoing investigation into the firm’s alleged $8 billion Ponzi scheme, the U.S. Department of Justice announced Tuesday.
The U.S. Securities and Exchange Commission's first-ever credit default swap case has left companies wondering what they can do to prevent their employees from unlawfully passing on information, given that the agency's eyes will likely fall on nontraditional traded instruments and, potentially, trading partners.
A federal judge has signed off on a consent decree between the U.S. Securities and Exchange Commission and a former Engineered Support Systems Inc. executive, putting to rest civil fraud charges stemming from an alleged $20 million options backdating scheme.
A Texas judge has cleared the way for a June trial in Huntsman Corp.'s multibillion-dollar tortious interference, conspiracy and fraud lawsuit against Deutsche Bank AG and Credit Suisse Group AG over the chemical maker's now-infamous failed corporate tie-ups.
A federal judge has declined to consolidate putative class actions filed by the Boilermakers National Annuity Trust Fund and the New Orleans Employees' Retirement System alleging Washington Mutual Bank and an appraiser purposefully inflated the appraisal value of properties that secured the bank's mortgages.
Julio Ramirez, an unlicensed placement agent formerly with Wetherly Capital Group, has pled guilty to charges of securities fraud in connection with the pension fund kickback probe roiling the New York state Democratic Party, New York Attorney General Andrew Cuomo announced Tuesday.
The former president and chief operating officer of job recruiter Monster Worldwide Inc. has reportedly been convicted of securities fraud and conspiracy in a stock options backdating scheme.
A federal judge has put on hold a putative class action accusing money management firm Lord Abbett & Co. LLC of charging investors excessive fees until the U.S. Supreme Court returns a decision in a case involving similar claims.
A federal judge's rebuke of prosecutors' conduct in the W.R. Grace & Co. criminal trial on the heels of the bungled case against former Sen. Ted Stevens, R-Alaska, has cast a shadow over what experts say is a more widespread problem: the U.S. Department of Justice's tendency to withhold key materials during discovery.
A group of Exxon Mobil Corp. shareholders has set up a Web site to help investors that hold stock through mutual funds pressure fund managers into backing several proxy measures, most of which address environmental issues, ahead of the oil giant's annual shareholder meeting.
Tarnished New York attorney Marc S. Dreier pled guilty Monday to all eight charges, including money laundering and securities fraud, he faced in connection with a scheme to hoodwink investors out of $115 million.
In the wake of an alleged kickback scheme at the New York State Common Retirement Fund, the U.S. Securities and Exchange Commission is considering a rule barring independent investment advisers from working with public pension funds once they have donated to the political campaigns of the fund managers.
The former chief marketing officer of Royal Ahold NV unit U.S. Foodservice Inc. has asked a court to reconsider its decision to grant most of the U.S. Securities and Exchange Commission's bid for summary judgment in a case related to an alleged $700 million accounting scheme, despite the fact that the executive has been convicted on the same allegations.
Ruling that the claims are not time-barred, a federal appeals court has revived a California putative class action alleging the Halifax Building Society deceived investors regarding the bank’s conversion into publicly traded company Halifax PLC.
Goldman Sachs & Co. has reached a $60 million settlement with the Massachusetts attorney general to resolve potential claims stemming from an investigation into the collapsed subprime mortgage industry.
The U.S. Securities and Exchange Commission has accused the former general counsel of Aerokinetic Energy Corp. of violating the registration and anti-fraud provisions of securities laws with an allegedly fraudulent unregistered securities offering at the company.
A well-known plaintiffs lawyer in Arkansas has reportedly come under suspicion from federal authorities after failing to cough up $9 million in settlement money in a securities class action against insurer Bisys Group Inc., which was supposed to be distributed to plaintiffs starting in April.
A federal judge has dismissed a proposed shareholder class action accusing Biovail Corp. of misleading investors about the antidepressant Aplenzin, calling the lawsuit a “prime exemplar of a legally baseless securities strike suit.”