Italian prosecutors have reportedly claimed that 10 Citibank executives should stand trial for their alleged roles in the 2003 collapse of dairy giant Parmalat SpA.
A state appeals court has given new life to a lawsuit against Jenkens & Gilchrist, which alleges that the battered law firm did not tell its client’s shareholders that it had invited a man convicted of securities crimes to take part in a development deal.
After dodging prison time twice for his role in the company's accounting scandal, the former chief financial officer of HealthSouth Corp. pled guilty Wednesday to making illegally structured bank deposits in a separate case.
With the subprime crisis wreaking havoc on the capital markets and a precedent-setting U.S. Supreme Court decision on the horizon, 2008 is already shaping up to be an important year for securities litigation.
A federal judge has dismissed an antitrust class action against 11 of the largest investment banks in the United States alleging a conspiracy to charge exorbitant and unjustified fees for so-called naked short selling.
The manager of the two Bear Stearns Cos. hedge funds that were forced to declare bankruptcy after becoming caught up in the subprime disaster has allegedly left his position at the financial giant as regulators investigate whether he illegally withdrew money from the funds prior to their collapse.
Hewlett-Packard Co. announced Tuesday it had reached an agreement to settle derivative lawsuits filed by shareholders in the wake of last year's internal spying scandal that saw a flurry of suspicious trading by executives.
A judge approved a $3.2 billion settlement in the Tyco International Inc. securities litigation on Wednesday, designating more than $460 million in legal fees for the plaintiffs' attorneys.
The U.S. Commodity Futures Trading Commission has sued an Illinois futures brokerage alleging the firm failed to demonstrate that it complied with capitalization requirements.
An investment manager accused of bilking clients of $25 million has been sentenced to almost 20 years in prison and ordered to pay $21 million in restitution to investors across the United States.
Two New York City congressmen, a Republican and a Democrat, asked the U.S. Securities and Exchange Commission to set a hard-and-fast date for a long-promised forum to address how securities class actions potentially threaten U.S. competitiveness internationally.
In yet more fallout from the high-profile collapse of two Bear Stearns Cos. hedge funds over the summer, Barclays Bank PLC has sued the Wall Street firm and two top managers for fraud and misrepresentation that allegedly led to the funds' implosion.
Santo Maggio on Wednesday reportedly became the first former Refco executive to plead guilty to conspiracy and fraud charges related to the commodities brokerage's 2005 implosion.
The suit that securities investor Super Future Equities Inc. filed against Wells Fargo Bank NA, the trustee of its mortgage-backed notes, and loan servicer Orix Capital Markets LLC is out of steam now that a Dallas federal court has granted summary judgment in favor of the defendants.
South Florida, where judges allegedly tilt the scales of justice against civil defendants, has been deemed this year's top “judicial hellhole,” according to a report issued by a tort reform special interests group on Tuesday.
United Rentals Inc. and Cerberus Capital Management ended up in court Tuesday, just a day after the parties agreed to delay the start of a trial in order to pursue settlement talks in their dispute over a buyout deal gone bust.
In another bid to toss the U.S. Securities and Exchange Commission's suit accusing him of leading a short-selling campaign to ruin a software company, Andreas Badian has invoked a suit that has already been settled, which the SEC brought against his brother over the same alleged scheme.
The plaintiffs in a securities lawsuit accusing Bristol-Myers Squibb Co. and two former officers of deceiving investors with its controversial patent deal with Apotex Corp. are fighting an effort to toss part of the suit.
Joseph P. Collins, a partner with Mayer Brown LLP, has been sued by regulators and indicted by prosecutors for his alleged role in the massive fraud that led to the spectacular fall of brokerage firm Refco Inc.
Royal Ahold announced Tuesday that the former chief executive officer of its former U.S. subsidiary will pay $8 million to settle a legal dispute that became entangled in an accounting scheme that exaggerated the unit’s earnings.