The U.S. Trustee overseeing Best Manufacturing Group LLC’s bankruptcy case has objected to the company’s choice of an investment bank, balking at fees that “could total millions of dollars.”
The Chicago Board Options Exchange called off merger discussions with the Chicago Board of Trade, just a few hours before the CBOT lodged a lawsuit against the options exchange.
A move by the Office of the Comptroller of the Currency to drop a formal sanction against Wells Fargo & Co. for weak money-laundering controls was ruled improper by the U.S. Treasury Department’s inspector general on Wednesday.
Brokerage giant Merrill Lynch has asked the court to relieve it of its obligation to find a claimant in a high-profile sex-discrimination lawsuit a job, saying that she had turned down a management position the company offered.
The U.S. Securities and Exchange Commission has nabbed one banker from a renegade Estonian financial services firm that allegedly stole press releases from more than 200 U.S. public companies and traded on the news before it reached the public.
The U.S. Securities and Exchange Commission did not respond quickly enough to concerns about its probe into hedge fund Pequot Capital Management expressed by the Senate Finance Committee, according to a letter sent to the SEC by committee Chairman Charles Grassley.
Bankrupt flooring company Congoleum Corp. is one step closer to untangling its messy insurance situation, after Century Indemnity Co. agreed to pay $16.95 million to a trust created to pay off asbestos claims filed against Congoleum.
Former technology banking star Frank Quattrone proved himself bullet-proof on Tuesday when a U.S. federal court judge approved a settlement that would not only let him avoid a third trial on obstruction-of-justice charges, but also possibly usher him back into a career on Wall Street.
An appeals court may have dashed the U.S. Security and Exchange Commission’s hedge fund rule, but the regulation still had an impact on the $1 trillion industry, according to a recent study.
In a victory for SCOR SA in its ongoing legal feud with Highfields Capital Management, a federal judge has thrown out the Boston-based investment funds’ charges against the French reinsurance firm for lack of subject matter jurisdiction.
A court order permitting bankrupt futures brokerage Refco Inc. to pay off $127.5 million in intercompany claims has raised the ire of the lead plaintiffs in a securities suit pending against the company.
In connection with a massive trading error last December at the Tokyo Stock Exchange, the Japanese firm Mizuho Securities has demanded $350 million in compensation, the head of the exchange said on Tuesday.
Adelphia Communications Corp. has reached an agreement with Travelers Casualty & Surety Co. of America that will significantly reduce the amount of collateral it must pay for bonds that back up its insurance policy.
Two insurance salesmen have lost a class action appeal against their employer, AXA Network LLC, that alleged the life insurance brokerage deliberately cheated them out of benefits by altering how insurance salesmen are classified as full-time employees.
Government-sponsored mortgage lender Freddie Mac has agreed to pay $4.65 million to settle charges that the company failed to provide accurate information to officials in charge of its employee 401(k) plan.
Goldman Sachs Group Inc. and KPMG LLP have been named as additional defendants in one of the securities-fraud lawsuits stemming from the massive accounting scandal at Fannie Mae.
A Massachusetts hedge fund advisor is facing 13 counts of mail and wire fraud after prosecutors alleged he lied to investors about the fund’s investment strategy and then falsified documents to cover up his fabrications.
Regulators are taking a closer look at transactions between the reinsurance arm of Berkshire Hathaway Inc. and two other reinsurance providers, as part of an ongoing probe into allegations of improper reinsurance accounting.
The U.S. Securities and Exchange Commission announced Thursday that a Florida broker-dealer has been sentenced to 57 months in prison and ordered to pay $2.6 million in criminal restitution for his role in a “boiler room” operation.
Six months after being convicted of securities fraud and commercial bribery, the former owner of defunct broker-dealer Lloyd Wade Securities Inc. was sentenced to nine years in prison on Tuesday for participating in a scheme that ultimately drained investors in an online gaming company of more than $12 million.