Indevus Pharmaceuticals Inc. is facing another proposed shareholder class action seeking to block a merger with Endo Pharmaceuticals Holdings Inc., claiming Endo's $4.50 a share offer undervalues the specialty drug company.
Former Brocade Communications Systems Inc. CEO Gregory Reyes, who was convicted in 2007 for his alleged role in a backdating options scandal at the company, may be nearing a settlement with the company over claims that he violated his fiduciary duties and backdated for personal gain.
Greenberg Traurig LLP has nabbed nine attorneys from Akin Gump Strauss Hauer & Feld LLP's securities litigation group, including Paul R. Bessette, who joins Greenberg Traurig as a national co-chairman of the firm's securities litigation practice.
DCI Umbrella Fund PLC is reportedly suing bankrupt Lehman Brothers Holding Inc.'s U.K. unit, accusing the erstwhile financial giant of defaulting on a swap agreement and demanding that Lehman return $71 million in securities.
Biovail Corp. founder and CEO Eugene Melnyk has been ordered to pay a $1 million civil penalty to settle one claim in a suit brought by the U.S. Securities and Exchange Commission over the Canadian drug company's allegedly fraudulent accounting practices.
Lead counsel for the plaintiffs in a securities class action alleging that Forest Laboratories Inc. provided misleading information about the safety of its blockbuster antidepressants Celexa and Lexapro have asked for more than $18 million in fees and expenses.
Increasing scrutiny by the U.S. Securities and Exchange Commission, the U.S. Department of Justice and shareholders in today’s economic climate and a new era of enforcement require defense attorneys to be knowledgeable in several facets of securities law, according to Seth Aronson, chairman of O’Melveny & Myers LLP’s securities litigation practice.
The Royal Bank of Scotland Group PLC is facing another securities class action from U.S. investors alleging that the U.K. clearing bank failed to disclose its exposure to the subprime mortgage market before reporting one of the biggest losses in British banking history.
Shareholders of Mirant Corp. have lost a bid to overturn a bankruptcy court's order awarding their attorneys just $15,000, or 2 percent, of the fees sought for work performed during the energy marketing firm's Chapter 11 case.
Merrill Lynch & Co. Inc. has agreed to a $1 million penalty and a U.S. Securities and Exchange Commission censure to settle charges that the global investor hid conflicts of interest from its pension fund consulting clients.
A putative class has asked a federal judge to block Spain's Banco Santander SA from offering a compensation plan to investors who lost more than $3 billion in disgraced financier Bernard L. Madoff's alleged $50 billion Ponzi scheme.
The plaintiffs in a class action brought by shareholders of SourceCorp Inc. over losses stemming from an alleged illegal accounting scheme have asked a judge to grant preliminary approval of a $3 million settlement with the only remaining defendant.
Pfizer Inc. is back in the hot seat in a securities fraud class action accusing a company it acquired in 2003 of making materially false statements about a clinical study of blockbuster anti-inflammatory drug Celebrex.
The examiner appointed to look into the Lehman Brothers Holdings Inc. bankruptcy case is seeking broad authority to issue subpoenas as he continues to look into the events and people surrounding the financial giant's collapse into bankruptcy.
Investment companies that opted out of a $45 million settlement in the case against two former Qwest Communications International Inc. executives are now pursuing their own action against the men.
After more than 27 years of service, the deputy director of the Trading and Markets Division at the U.S. Securities and Exchange Commission will leave the agency in February to join the Washington, D.C., office of Davis Polk & Wardwell, the SEC announced Monday.
DLA Piper has lured an expert securities litigator away from Saul Ewing LLP, bringing Timothy E. Hoeffner into the firm's New York City and Philadelphia offices.
The New Orleans Employees' Retirement System has launched a putative class action against UBS AG, alleging the Swiss banking giant encouraged its wealthiest clients to evade U.S. tax laws by concealing billions of dollars in undeclared Swiss bank accounts at the expense of UBS shareholders.
Tyco International Ltd. has been hit with a lawsuit by Equitec-Schwartz LLC, the designated primary market maker on the conglomerate's options, which claims it lost nearly $5 million in the massive fraud that put two Tyco executives behind bars.
Shareholders of Triad Guaranty Inc. have filed a proposed class action against the mortgage insurer, alleging that the company misled its investors about poor financial results caused by improper underwriting practices.