The former chief financial officer of bankrupt Fair Finance Co., currently serving a 10-year prison sentence, has agreed to pay $1.76 million to the company's bankruptcy trustee after participating in a $200 million scam involving the CEO of movie company National Lampoon Inc.
Electra Private Equity PLC dismissed activist investor Edward Bramson’s bid to join the board and lead a review of the London-listed firm Tuesday, standing by its investment strategy and its boardroom of wholly independent, nonexecutive directors.
The activist investors long targeting Darden Restaurants Inc. got a boost this week when the company offered up several board seats and said its much-criticized dual chairman and CEO would step down, but the concessions did little to ease what has swelled into this year's most prominent activist battle.
Telecommunications provider Windstream said Tuesday that it plans to spin off its fiber and copper networks into a real estate investment trust, an unusual move the company expects will lower its taxes and reduce its debt by $3.2 billion, freeing up money for acquisitions and network upgrades.
The hot-blooded boardroom battle between Cliffs Natural Resources Inc. and major investor Casablanca Capital LP appears to be over, as preliminary voting results show that all six of Casablanca's nominees were elected to the Cliffs board of directors on Tuesday.
Private equity-backed clothing retailer Pepe Jeans is looking to sell its business, which could fetch as much as $941 million, while City Developments and Stockland Group are said to be vying for Leighton Holdings' $7 billion residential and commercial property portfolio.
Indian e-commerce hub Flipkart said Tuesday it raised $1 billion in its latest funding round, the largest sum ever for an Indian Internet company, providing a huge equity infusion the company says will help it capitalize on the country’s embrace of mobile technology.
When announcing quarterly results Tuesday, two of Europe’s biggest banks revealed that they are cooperating with U.S. regulators in an investigation of their so-called dark pool and high-frequency trading units — two hot spots for regulators in recent months.
I anticipate that the M&A deal flow will continue to be strong, especially in the middle-market and growth company market areas, as long as private equity funds and strategic buyers remain flush with cash and the cost of capital remains low, says David Calhoun of Morris Manning & Martin LLP.
There should be a re-examination of regulation to ensure that boards of directors are able to make what they believe to be the best decision for the company and its stockholders without the fear that they may be second-guessed by the U.S. Securities and Exchange Commission or stockholder activist groups, says Larry Cerutti of Troutman Sanders LLP.
The moment a company realizes it may have a securities law violation on its hands is crucial, especially for its attorneys. They must promptly take control and start preparing their client to contact the last person any CEO wants to call: an enforcement official at the U.S. Securities and Exchange Commission. This is the first in a four-part series on making the best of an SEC investigation.
With less than 56 hours left to solve a debt-repayment impasse, Argentina got permission Monday evening to make interest payments on certain bonds because of a newly discovered technicality — but the clock will keep ticking, and the special master for the country's debt crisis announced a new round of talks for Tuesday.
Activist investors are on track for a record 2014, with most eyeing midsize companies and demanding board representation as campaigns become more sophisticated and lock down more victories, a report released on Monday found.
The Blackstone Group LP has acquired a London office tower from Brookfield Property Partners LP for £320 million ($543 million), Blackstone announced on Monday.
A former Harbinger Capital Partners LLC executive has admitted wrongdoing in connection with his role in the hedge fund's $113 million loan scandal, the U.S. Securities and Exchange Commission said Monday, giving the agency a three-for-three record on admissions of wrongdoing in the closely watched Harbinger cases.
CVC is close to winning an auction for Epicor Software, while 21st Century Fox would offer board seats to sweeten its $80 billion Time Warner bid. France's Danone may sell its medical nutrition business to U.S.-based Hospira, making it the latest in a wave of inversion deals. China's banking regulator is also allowing five cities to launch asset management companies to gobble up bad loans.
New York federal prosecutors are seeking up to nearly five years in prison for a former Evercore Group LLC investment banker who admitted to trading on inside information about clients, according to a Friday court filing.
A former Vanguard Group Inc. in-house attorney and ex-Sullivan & Cromwell LLP associate has hit the investment manager with a False Claims Act suit in New York state court alleging it illegally evaded more than $1 billion in federal and state taxes over the past decade, the plaintiff's attorney said Friday.
Facing the possibility that an upcoming proxy fight could lead to a default under a $750 million credit agreement, Darden Restaurants Inc.’s board has approved and nominated the slate of director nominees proposed by Starboard Value LP, though it doesn’t recommend voting for them, according to a Friday regulatory filing.
An ad hoc coalition of municipal finance groups wants the U.S. Securities and Exchange Commission to tweak its new enforcement program aimed at encouraging municipal issuers and underwriters to self-report disclosure violations.