SecuritiesRSS

  • March 5, 2008

    National Century Execs' Lose Bid For Acquittal

    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.

  • March 5, 2008

    SEC Proposes Streamlining ETF Exemption Process

    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.

  • March 5, 2008

    Lawyers Say NYSE Data Flawed

    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.

  • March 5, 2008

    BP Settles Shareholder Case Over Bad Management

    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.

  • March 4, 2008

    SEC Won't Pursue Cirrus Logic Over Backdating

    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.

  • March 4, 2008

    R&G Financial Settles Suits Over Mortgage Sales

    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.”

  • March 4, 2008

    Alston & Bird Snags Former Federal Prosecutor

    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.

  • March 4, 2008

    Hedge Funds To Sue SEC Over Web Site Restriction

    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.

  • March 4, 2008

    SEC Sues Brokerage Over $50M In Fraudulent Trades

    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.

  • March 4, 2008

    Regulators Step Up FCPA Enforcement: Report

    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.

  • March 4, 2008

    Judge Throws Out Diebold Derivative Suit

    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.

  • March 4, 2008

    SEC Proposes Tougher Naked Short-Selling Rules

    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.

  • March 5, 2008

    Broadcom Exec Settles With SEC

    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.

  • March 5, 2008

    Tyco, Bondholders Spin-Off Dispute Continues

    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.

  • March 3, 2008

    Judge Puts Off Enron Settlement Ruling

    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.

  • March 3, 2008

    Supreme Court Refuses To Hear Rigas' Appeal

    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.

  • March 3, 2008

    Fannie, Freddie Set Up Appraisal Watchdog

    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.

  • February 29, 2008

    Damages Expert For Milberg Weiss Pleads Guilty

    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.

  • February 29, 2008

    Unauthorized Futures Trades Cost Firm $141.5M

    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.

  • February 29, 2008

    Lord Black To Don Prison Garb By Monday

    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.