• November 21, 2005

    Delphi's Chapter 11 Hinders Securities Fraud Suits

    Shareholders in securities class action lawsuits against bankrupt auto parts manufacturer Delphi Corp. are seeking an exemption from bankruptcy laws to force the company to hand over documents considered vital to the plaintiffs.

  • November 17, 2005

    Bawag Sues Refco, Bennett For Fraud

    Austria’s Bawag P.S.K. Bank has sued former Refco Inc. CEO Phillip Bennett over a 350-million-euro loan extended just hours before the commodities and foreign exchange broker revealed Bennett had hidden $430 million of debt.

  • November 14, 2005

    Refco's Largest Shareholder Sues To Recover $245M

    Refco’s largest shareholder has filed a lawsuit against three former executives at the commodities and foreign exchange broker, seeking to recover $245 million that the firm claims vanished in a plot to hide losses.

  • November 10, 2005

    Winning Bid For Refco IP Puts Software Maker In A Jam

    Two contentious lawsuits over Trading Technologies’ heavily asserted patents for futures trading software face an uncertain outcome after bankrupt defendant Refco LLC was purchased at auction Wednesday by another defendant, Man Group PLC.

  • November 8, 2005

    SEC Settles Charges Against Worldcom Creditor Panelist

    The co-chairman of the former WorldCom Inc. creditors committee was suspended from the brokerage industry for six months in a settlement agreement with the Securities and Exchange Commission, which had accused him of lying to gain a position on the panel.

  • November 8, 2005

    Futures Commission Objects To Refco Immunity

    Objecting to the terms of Refco Inc.’s bankruptcy, the Commodity Futures Trading Commission told a New York federal court it would oppose any move that erases liability of the company’s flagship futures branch Refco LLC, which will hit the auction-block as part of the deal.

  • October 31, 2005

    Refco IP Auction: Patent Attorneys Say "Not So Fast"

    Patent attorneys are crying foul as bankrupt commodities broker Refco Inc.’s intellectual property is readied for the auction block, claiming infringing technology is not part of an estate and therefore cannot be sold under bankruptcy law.

  • October 28, 2005

    House Bill Targeting Fannie Mae, Freddie Mac Passed

    Mortgage-buying giants Fannie Mae and Freddie Mac are facing increased scrutiny after the U.S. House of Representatives passed Wednesday legislation to tighten its grip on the government-sponsored companies amid high-profile accounting scandals.

  • October 26, 2005

    Once Profitable Krispy Kreme Faces Fraud Accusations, Financial Worries

    Krispy Kreme Doughnuts, a company mired in financial trouble and an increasing number of lawsuits, has filed a motion to dismiss a class-action lawsuit alleging the company made false statements about projected earnings just before the stock collapsed.

  • October 20, 2005

    Refco Paid Insiders $1B In Cash Before Collapse

    In a discovery sure to prompt several more class-action lawsuits, Refco’s financial statements revealed that before the firm’s collapse insiders received over $1 billion in cash.

  • October 19, 2005

    EASDAQ Investors File Suit Against Lernout & Hauspie

    Shareholders of the now-bankrupt Lernout & Hauspie Speech Products N.V. have filed a class-action lawsuit alleging the company’s executives engaged in massive accounting fraud that led to its eventual downfall.

  • October 19, 2005

    Pension Funds Win $78.9 M In WorldCom Suit

    Five New York pension funds that sued WorldCom Inc. after the company’s collapse have reached a $78.9 million settlement with the fallen telecommunications company.

  • October 18, 2005

    Refco Files For Bankruptcy, Agrees To Sell Futures Brokerage

    Just two months after an impressive $585 million initial public offering, Refco Inc. has filed for bankruptcy, agreeing to sell its core futures brokerage for $785 million in order to salvage some of its other subsidiaries.

  • 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.