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.
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.
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.
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.
Three investigations have been initiated into the legality of mutual fund transactions made by brokerage A.G. Edwards,according to wire reports.
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.
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.
Futures broker Refco Inc. has placed chief executive Philip Bennett on probation after discovering he owed the company $430 million.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The Securities and Exchange Commission has initiated administrative proceedings against two Deloitte & Touche auditors who allegedly aided in the Adelphia accounting fraud in 2000.
A company that pioneered an online marketplace that connects borrowers with lenders is suing an upstart rival over its patented business model.