Charles Schwab Corp. founder Charles R. Schwab, his son Michael B. Schwab and a slew of investors were hit with a suit in California state court Wednesday by a former business partner who claims they cheated him out of an ownership stake in an eco-friendly real estate investment venture worth at least $25 million.
The Second Circuit on Wednesday declined to rehear an appeal seeking to revive a class action alleging JPMorgan Chase & Co., Bank of New York Mellon Corp. and others aided Bernie Madoff's Ponzi scheme.
Merrill Lynch on Wednesday asked a New York appeals court to dismiss claims accusing it of reneging on a deal to buy back defective loans Merrill obtained from now-bankrupt ResMae Mortgage Corp. and turned into residential mortgage-backed securities, saying the underlying agreement does not contain a sweeping buyback guarantee.
General counsel have shifted their billing rate pressure from associates to partners, scrutinizing each bill that comes across their desks and getting even more aggressive in asking for reduced rates, experts say.
The U.S. Securities and Exchange Commission should delay its administrative proceeding against hedge fund billionaire Steven A. Cohen until after the Second Circuit issues a closely watched ruling that will affect related insider trading convictions, Manhattan U.S. Attorney Preet Bharara's office said on Wednesday.
The Eleventh Circuit on Wednesday affirmed the convictions of an asset protection company owner and another co-defendant in a pump-and-dump scheme that defrauded investors out of $7 million, ruling that their arguments on appeal regarding improperly obtained evidence and the indictment's scope lacked merit.
The Ontario Teachers' Pension Plan announced Wednesday that it made a $300 million injection into Flynn Restaurant Group LP, joining company management in buying stakes from a pair of private equity firms and making Flynn the first restaurant franchise group to be valued at more than $1 billion.
We are keeping a close eye on Dodd-Frank rules and regulations still to be finalized — such as U.S. Securities and Exchange Commission rules relating to disclosure of CEO pay versus the rest of the company’s employees, says Lily Hughes, vice president and associate general counsel of Ingram Micro.
Private investment fund Aspen Investment LLC, one of Vivus Inc.'s largest shareholders, is considering offering to buy the "undervalued" pharmaceutical firm for $640 million, according to a Wednesday filing with the U.S. Securities and Exchange Commission from Aspen.
Guggenheim Partners is joining forces with a group led by billionaire David Geffen to bid on the LA Clippers, while Facebook is seeking approval from EU antitrust regulators to dodge challenges from individual countries over its $19 billion WhatsApp deal.
A New York federal judge on Tuesday dismissed a set of claims brought against Morgan Stanley & Co. in a putative class action alleging the bank misled institutional investors by selling shoddy mortgage-backed securities, finding those claims were time-barred by a statute of repose.
Hannon Armstrong Sustainable Infrastructure Capital Inc. has acquired a $107 million portfolio of thousands of acres of land and dozens of leases linked to solar and wind projects, the Maryland-based real estate investment trust announced Wednesday.
BuckleySandler LLP said Wednesday it has bolstered its regulatory and auto finance practice in Washington, D.C., with the addition of a former Ally Financial Inc. consumer finance attorney.
Sweden's Skandinaviska Enskilda Banken AB, or SEB, is set to sell its credit card services unit Euroline AB to a fund of private equity firm Nordic Capital for 2.2 billion Swedish kronor ($331 million), the companies said Wednesday.
A former analyst at hedge fund Artis Capital Management LP pled guilty in New York federal court on Wednesday to an insider trading scheme involving Brocade Communications Systems Inc.’s $3 billion acquisition of a technology company.
Former SAC Capital Advisors LP manager Mathew Martoma on Tuesday urged a federal judge not to impose a harsh prison sentence for an alleged $275 million insider trading scheme that prosecutors have called the most lucrative in history.
A California appeals court on Friday kept alive a California Public Employees' Retirement System lawsuit claiming Moody's Corp. and Standard & Poor's Financial Services LLC cost the pension fund up to $1 billion in investment losses, finding the California anti-SLAPP statute couldn’t clear the claims against the ratings agencies.
Bank of America has been tapped to sell the Los Angeles Clippers for no less than $1 billion, while GE is open to an alliance with the French government to move forward with its $16.9 billion bid for Alstom's energy business.
Hedge fund manager Nelson Obus, testifying on Tuesday in a U.S. Securities and Exchange Commission trial, emphatically denied claims that he earned $1.3 million trading on an illegal tip about a 2001 private equity transaction.
The federal government weighed in Friday on the bid of the liquidation trustee for Bernard Madoff's investment group to pursue billions of dollars from HSBC Bank PLC and other banks he alleges facilitated Madoff's Ponzi scheme, urging the U.S. Supreme Court not to take the case.