• October 13, 2005

    Check Technology Case Stays In Texas

    A Texas check imaging company that has rattled money-center banks with sweeping patent litigation has successfully fought back an attempt led by Citigroup to move the case to another jurisdiction.

  • October 13, 2005

    Former Hedge Fund Exec Pleads Guilty In Pharma Stock Scandal

    A hedge fund manager pled guilty Wednesday to lying to regulators about how much stock his fund held in various biopharmaceutical companies and inflate demand for their stock.

  • October 13, 2005

    Refco CEO Arrested, Released on $50M Bond

    Former Refco Inc. CEO Phillip Bennett has been arrested on charges of securities fraud and released on $50 million bond that included his Park Ave. penthouse and $5 million in cash as collateral.

  • October 12, 2005

    Supreme Court Denies Petition To Hear Merrill Lynch Case

    The Supreme Court has denied a petition for a writ of certiorari that would have reinstated a class action lawsuit alleging that Merrill Lynch and one of its analysts misled investors.

  • October 12, 2005

    A.G. Edwards Faces Three Investigations For Market Timing

    Three investigations have been initiated into the legality of mutual fund transactions made by brokerage A.G. Edwards,according to wire reports.

  • October 12, 2005

    Spitzer’s Case Against Former BofA Broker Dismissed

    The first broker brought to trial by New York State Attorney General Elliott Spitzer in his attack on mutual fund trading abuses, has slipped through the attorney’s fingers.

  • October 7, 2005

    Hedge Fund Won’t Return Investors' Calls, SEC Probing

    Wood River Partners LP, the once high-flying hedge fund in Ketchum, Idaho, is under investigation by the Securities and Exchange Commission, according to the New York Times.

  • October 11, 2005

    CEO Owed Refco $430M; Class Action Suit Filed

    Futures broker Refco Inc. has placed chief executive Philip Bennett on probation after discovering he owed the company $430 million.

  • October 11, 2005

    SEC Launches Man Group Probe In $175 Million Fraud Case

    The Securities and Exchange Commission has begun an investigation into Man Group, prompted by allegations that the hedge fund helped Philadelphia Alternative Asset Management hide $175 million in losses from investors.

  • October 10, 2005

    Justice Dept. Mulls Fairfax Probe--Report

    Fairfax Financial Holdings Ltd., the Canadian holding company under probe by the Securities and Exchange Commission, has denied reports the U.S. Justice Department joined the investigation.

  • September 29, 2005

    SEC Charges Former Bayou Group Execs With Fraud

    The Securities and Exchange Commission has filed a lawsuit against the former executives of the Bayou Group hedge fund, alleging that the Samuel Israel III and Daniel Marino lost and stole hundreds of millions of dollars in investments.

  • October 4, 2005

    SEC Faces Lawsuit Over Hedge Fund Regulation

    The Securities and Exchange Commission will go to court to defend its controversial rule allowing regulation of hedge funds in a suit brought against the commission by a hedge fund manager.

  • October 5, 2005

    Court Reinstates Class Action Antitrust Suits Against Investment Banks

    A federal appeals court has overturned two lower court rulings and restored the class action suits alleging that several major investment banks engaged in price fixing.

  • October 6, 2005

    Grubman Loses To Investors in Arbitration

    Former Salomon Smith Barney telecom analyst Jack Grubman and Citigroup, Inc. have been ordered to pay $2.41 million to a Boston couple who claimed they lost all their money after investing in WorldCom stock upon Grubman’s advice.

  • October 6, 2005

    SEC Closes In On Hedge Funds Over Shady "PIPEs" Transactions

    The Securities and Exchange Commission is getting closer to launching legal action against at least two hedge funds actively involved in private investments in public equity (PIPEs), a type of financial transaction the SEC has been investigating for nearly two years, according to a report by The Street.

  • October 5, 2005

    Parmalat Sues First Boston For $8.45 Billion

    Embattled Italian dairy products maker Parmalat has filed a lawsuit against Credit Suisse First Boston, alleging that the investment bank arranged a transaction for Parmalat that allowed the company to camouflage billions of euros in losses.

  • October 4, 2005

    Viewpointe Files Countersuit In Electronic Check Case

    A company targeted by Data Treasury Corp. in its far-flung patent lawsuit against major banks over electronic check technology has fired back with a lawsuit of its own, seeking to invalidate the patents due to material misrepresentations and inequitable conduct before the U.S. Patent and Trademark Office.

  • October 3, 2005

    Bayou Group Founders Confess to Fraud; $350 Million Still Unaccounted For

    The two founders of the hedge fund Bayou Group who absconded with $450 million in investments came out of hiding Thursday and pled guilty to fraud. Although investigators seized $100 million from the men, $350 million remains missing.

  • October 3, 2005

    SEC Alleges Deloitte Auditors Aided in Adelphia Fraud

    The Securities and Exchange Commission has initiated administrative proceedings against two Deloitte & Touche auditors who allegedly aided in the Adelphia accounting fraud in 2000.

  • September 15, 2005

    LendingTree Sues Rival Over Patent For Online Business Method

    A company that pioneered an online marketplace that connects borrowers with lenders is suing an upstart rival over its patented business model.