SecuritiesRSS

  • February 25, 2008

    BofA Inside-Trader Gets 7 Months

    Banc of America securities unit member Paul Risoli was sentenced Friday to seven months in prison for his part in an insider-trading scheme involving wire fraud and conspiracy.

  • February 25, 2008

    For The 2nd Time, Judge OKs $35M Veritas Deal

    More than six months after an appeals court remanded the case, citing inadequate class notification, a district court judge has again approved a $35 million settlement between Veritas Software Corp. and disgruntled shareholders.

  • February 22, 2008

    KLA-Tencor Execs Spared Grilling By Ex-CEO

    A U.S. magistrate judge has issued a protective order to shield executives of KLA-Tencor Corp. from questioning by lawyers for the semiconductor maker's former CEO, who refused to join the company in settling with regulators over charges of stock options backdating.

  • February 22, 2008

    Money Manager Fined For Misappropriating Funds

    The head of money manager New Vision Investment Funds LLC has been ordered to give up $808,000 in a case in which the U.S. Securities and Exchange Commission claims that he misappropriated money while hiding debt.

  • February 22, 2008

    Yahoo Slapped With 2nd Suit By Miffed Shareholders

    Two public Detroit pension funds have initiated the second major putative class action against Yahoo! Inc. relating to its rejection of Microsoft Corp.'s $44.6 billion takeover bid, with the plaintiffs trying to stop the search-engine company's board from allegedly thwarting a reasonable offer.

  • February 22, 2008

    Case Removed From Tyco MDL

    An attempt by some of the plaintiffs in the consolidated class action against Tyco International Inc. to have their case moved to state court has resulted in the suit's dismissal, after a district court granted Tyco's request to toss the case.

  • February 22, 2008

    Day Of Reckoning Comes For U.K.'s NatWest Three

    Months after pleading guilty to wire fraud in connection with the Enron scandal, the infamous trio of British bankers known as the NatWest Three has reportedly been sentenced to 37 months apiece for their respective roles in the energy giant's implosion.

  • February 22, 2008

    AIG Tries To Block Greenberg's Access To Papers

    Insurance giant American International Group Inc. has made a last-ditch effort to prevent former Chief Executive Officer Maurice “Hank” Greenberg from gaining access to certain internal documents, asking a court to stay the order that required the company to turn over the papers.

  • February 21, 2008

    As SEC Seeks $7M Penalty, Broker Seeks New Trial

    A Florida broker recently found by a federal jury to have committed civil securities fraud has asked a judge to overturn the verdict or grant a new trial. Meanwhile, the U.S. Securities and Exchange Commission seeks an order forcing him to pay $6.9 million in disgorgement and penalties.

  • February 29, 2008

    CEO Liability In Subprime Litigation Tough Call

    Corporate executives are increasingly being named as defendants in a rising tide of subprime-related litigation. But while the true scope of any corporate officer's potential liability is still unknown, many company chiefs may only face damage to their reputations, not their bank accounts.

  • February 21, 2008

    CFTC Broadens Lawsuit Against Lake Shore

    Regulators have filed additional allegations against hedge fund Lake Shore Asset Management Ltd. in an amended complaint to a U.S. federal court, accusing the commodity pool operator of scamming hundreds of millions of dollars from investors and siphoning millions more in illegal fees and expenses.

  • February 21, 2008

    Oppenheimer To Pay $4M In Market Timing Case

    Broker Oppenheimer & Co. has been ordered to pay a $250,000 fine and shell out $4.25 million in restitution to more than 60 mutual funds. The Financial Industry Regulatory Authority found that the firm engaged in illegal market timing.

  • February 21, 2008

    Former U.S. Attorney Joins Greenberg Traurig

    Assistant U.S. Attorney Daniel Rubinstein has joined Greenberg Traurig's litigation and white collar criminal defense practices in Chicago after a decade of work in public prosecution, the firm announced Wednesday.

  • February 21, 2008

    Lax Oversight Enabled Fraud At SocGen: Report

    Weaknesses in supervisory procedures at Societe Generale allowed Jerome Kerviel to make fraudulent trades for the French bank for several years, ultimately losing more than $7 billion, the bank said Wednesday.

  • February 22, 2008

    Milberg Weiss Prosecutor Joins Goodwin Procter

    One of the lead prosecutors in the government's ongoing case against law firm Milberg Weiss has left the U.S. attorney's office to work in the white-collar crime and government investigations practice of Goodwin Procter LLP.

  • February 21, 2008

    Parmalat Inks €79M Settlement With Italian Bank

    Parmalat SpA has reached a deal with Italian bank Banca Monte dei Paschi di Siena to reimburse the dairy company €79.5 million for damages suffered from the company's collapse, the two companies announced Thursday.

  • February 21, 2008

    Orion Energy Faces Class Actions Over Down Forecast

    Securities plaintiffs firms are beginning to circle Orion Energy Systems Inc. for allegedly inflating its market price by withholding information from investors.

  • February 21, 2008

    Subprime Litigation Likely To Surpass S&L Suits: Study

    The number of lawsuits filed in federal courts in the wake of the subprime mortgage crisis is now on track to outpace the litigation stemming from the savings and loan scandal of the early 1990s, according to a new study.

  • February 21, 2008

    Comverse Backdating Suit Partly Survives Dismissal

    A federal judge has partly rejected the recommendations of a magistrate judge and kept alive allegations against the former members of the compensation and audit committee of Comverse Technology Inc. related to stock options backdating at the company.

  • February 22, 2008

    Buchanan Ingersoll Snaps Up Securities Veteran

    William W. Uchimoto, the former co-chairman of Saul Ewing LLP’s securities litigation group, has joined Buchanan Ingersoll & Rooney PC, the firm said Thursday.