Lambasting a Las Vegas federal prosecutor for withholding 650 pages of important documents in a 2003 stock fraud case, the U.S. Court of Appeals for the Ninth Circuit has upheld the lower court's dismissal of all 64 charges against two lawyers.
Although financial services firms often choose to settle cases filed by the Financial Industry Regulatory Authority, a new study has suggested that fighting the cases might pay off for firms, regardless of the outcome.
The U.S. Securities and Exchange Commission has accused three Florida doctors of illegally trading on inside information about IVAX Corp. and Correctional Services Corp.
In a bid to bolster its litigation group, Willkie Farr & Gallagher LLP has added three veterans of the U.S. Securities and Exchange Commission, boosting its Washington, D.C., ranks.
The U.S. Supreme Court and other appellate courts have regularly reduced punitive damage awards that have been deemed unconstitutional for violating defendant due process rights. However, large damage awards have continued to be doled out, leading defense attorneys to urge clearer standards and greater scrutiny for such verdicts in order to avoid a “punishment lottery.”
A recent decision in the Delaware Court of Chancery has directors of companies worried that they will no longer always be advanced legal fees and expenses when a lawsuit is brought against them.
An ironworkers' pension fund has filed a derivative action against Alcoa Inc. and 20 of its officers over hundreds of millions of dollars in illegal bribes the company allegedly paid to government officials in Bahrain.
Recent actions by the U.S. Securities and Exchange Commission allowing universal health care proposals to reach a vote are forcing companies to waste valuable resources on debates that are irrelevant to company business, some experts say.
The subprime mortgage crisis may cost State Street Corp. almost $8 billion — far more than the $625 million it first anticipated, according to reports.
GunnAllen Financial Inc. has agreed to pay $750,000 to put to rest U.S. Financial Industry Regulatory Authority allegations that the brokerage and investment bank played a role in a former head trader’s trade allocation scheme.
The U.S. Securities and Exchange Commission's formal probe into TVI Corp. and two of its deposed former executives is continuing, the disaster relief supplier acknowledged Thursday.
A former executive of both KLA-Tencor Corp. and Juniper Networks Inc. has scored a victory in her battle with the U.S. Securities and Exchange Commission over allegations that she engaged in illegal stock options practices, after a U.S. District Court granted in part her motion to dismiss the case.
Dorsey & Whitney LLP has fired a mergers and acquisitions partner in its Toronto office after learning he was tied to an investigation for alleged insider trading.
Two ex-principals of a Brooklyn mortgage broker were indicted for separate alleged federal frauds concerning $44 million in stolen payoff proceeds from Fannie Mae-financed mortgages and falsified records that had been used to sell mortgage loans to Credit Suisse First Boston.
The fate of more than $7.9 million in Banc of America Investment Services Inc. frozen auction-rate securities lies in the hands of an arbitration panel, now that one law firm has filed a lawsuit with the Financial Industry Regulatory Authority's Office of Dispute Resolution.
In addition to employment class actions across the country, FedEx Corp. is now facing a shareholder suit challenging its practice of classifying delivery drivers as independent contractors rather than employees.
Marvell Technology Group Ltd. has agreed to shell out $10 million to resolve allegations by the U.S. Securities and Exchange Commission that the semiconductor maker backdated stock option grants to employees and misrepresented financial data.
Investment bank Bear Stearns Cos. Inc. has revealed that a group of shareholders is asking a federal court to block the company’s acquisition by JP Morgan Chase & Co.
Since the collapse of Bear Stearns Cos., the U.S. Securities and Exchange Commission has strengthened liquidity requirements and more closely scrutinized the secured funding activities of the four largest investment banks in the country, a top SEC official told Congress on Wednesday.
UBS AG agreed to return more than $35 million to Massachusetts municipalities and government agencies after state Attorney General Martha Coakley questioned whether the bank's auction rate securities were legal investments under state law, Coakley announced Wednesday.