While the federal probe into anti-competitive behavior in the private equity industry has ruffled feathers at some firms, the fact that the Department of Justice’s New York office is leading the charge has many breathing a sigh of relief.
The National Association of Securities Dealers has fined Citizens Bank of Rhode Island subsidiary CCO Investment Services Corp. $850,000 for inadequate supervision and recordkeeping.
Two former specialists at Van der Moolen Specialists USA LLC each received 27 months in prison and a $250,000 fine on Friday for their role in an illegal trading scheme involving interpositioning and frontrunning on the floor of the New York Stock Exchange.
Bolstering Refco Inc.’s efforts to exit bankruptcy proceedings by the end of the year, a federal judge on Monday tentatively approved an outline of the beleaguered company’s Chapter 11 reorganization plan and, with some clarification, its disclosure statement.
The two founders of a failed hedge fund have been indicted for stealing millions from their investors.
In a case that could be crucial in the government’s ongoing pursuit of improper trading practices at the NYSE, David Finnerty, a former floor trader for Fleet Specialist Inc., started his fraud trial on Friday.
Securities regulators raised concerns Friday that hackers were targeting U.S. online brokerage accounts.
Major U.S. stock markets are working toward harmonizing their regulatory arms, but have not yet addressed the question of whether the two main regulating bodies should be combined into a single entity.
A proposed class settlement that came out of Zurich Financial Services’ alleged bid-rigging scandal is being challenged by a national trade association, which feels small and medium insurance agents will suffer unfair adverse effects.
The U.S. Securities and Exchange Commission has brought a fraud suit against a real estate development company and its founder alleging they orchestrated a $30 million Ponzi scheme.
A poll released Thursday found that turnaround professionals are working differently given the unprecedented liquidity in the marketplace, the change in the bankruptcy law and the drop in companies seeking Chapter 11 protection.
Flexible printed circuit maker Multi-Fineline Electronix Inc. is suing a group of hedge funds and management companies, claiming the defendants ran afoul of federal securities laws by failing to disclose their stake in a company that Multi-Fineline may acquire.
The company behind the widely used FICO credit score rating, Fair Isaac Corp., has stuck three national credit reporting agencies with an antitrust lawsuit over the launch and marketing of a similar credit scoring model.
LeClair Ryan has snagged a bankruptcy law veteran, a former Goldman Sachs & Co. Inc. associate general counsel and a federal prosecutor to head up the Virginia-based firm’s new Manhattan office, the firm announced Thursday.
Incensed by network software maker IPass Inc.’s failure to release information relating to an unprofitable merger, Shamrock Activist Value Fund, an investment company owned by Roy Disney, sued the company in a Delaware court on Tuesday.
The Federal Trade Commission stepped up its probe into the real estate industry on Thursday, charging two real estate groups in the Detroit area with illegally restraining competition and signing consent orders with five other groups around the country.
Amid criticism of corporate governance and falling stock prices, the chief executive officer and president of Sovereign Bancorp Inc. stepped down from his position on Wednesday.
A Minnesota judge ruled on Tuesday that the state’s attorney general is allowed to investigate UnitedHealth Group for its stock options practices, despite numerous other similar pending investigations into the health insurer.
With the amount of litigation all over the world on the rise this year, the insurance industry in particular suffered from a wave of lawsuits, according to a new study by the law firm Fulbright & Jaworski LLP.
Burying the hatchet in a long-running antitrust spat, Bankrate Inc. said Wednesday it would shell out $3 million to settle a lawsuit brought against it by American Interbanc LLC.