Levi & Korsinsky LLP is investigating potential missteps made by MOL Global Inc. ahead of its recent disappointing initial public offering and plans to file a putative class action suit against the company, according to a press release from the firm.
Canadian initial public offerings raised over CA$3.5 billion (US$2.97 billion) in 2014, showing growth over the prior year despite volatile markets, according to a PricewaterhouseCoopers Canada survey released Monday.
A federal judge approved a $3.8 million class action settlement Monday, awarding one-third in legal fees to plaintiff attorneys Kirby McInerney LLP, in a suit alleging that fracking sand producer Hi-Crush Partners LP misled shareholders prior to its initial public offering.
State-owned investor 1Malaysia Development Berhad said Monday it was replacing its president of nearly two years with a Middle East-focused investment banker, while the fate of a planned $3 billion initial public offering of its power business remains unclear.
JPMorgan Chase & Co. in a New York court on Monday said that it had reached a settlement in class action antitrust litigation over allegations that the bank was part of a conspiracy to rig the approximately $5 trillion-per-day foreign exchange market.
United Arab Emirates vehicle rental company Massar Solutions unveiled plans for a $157 million initial public offering Monday on the Abu Dhabi Securities Exchange, as it maps out expansion to serve the region’s growing logistics services market.
Nasdaq OMX Group Inc. bet on its diversification strategy and a beefier indexing business in a $225 million deal announced Monday that will fold Dorsey Wright & Associates LLC, the private equity-backed index and analytics provider, into its portfolio.
Wall Street’s watchdogs are entering 2015 with packed agendas that, among other things, aim to impose new rules on high-frequency traders, require public companies to say more about executive pay and force broker-dealers into a controversial data reporting regime. But what regulators can accomplish remains an open question as the new Republican-controlled Congress takes its seat with an agenda of its own.
The Pennsylvania Supreme Court has announced stricter standards of accountability for attorneys investing funds for clients, which include a prohibition on brokering investments without a proper license.
Two units of Bank of America Corp.’s Merrill Lynch business have agreed to pay just more than $7.2 million to settle claims brought by the Financial Industry Regulatory Authority and other regulators over extensive failures to report data that authorities use to scope for market manipulation and other schemes.
German hedge fund-backed cable company Tele Columbus on Friday revived its postponed initial public offering looking to raise about €300 million ($360 million) in its public debut in the first half of 2015.
Slight headwinds in 2015 are not expected to slow the flood of companies tapping the public markets for capital, as generally favorable economics, a full pipeline, developing industry trends and a continued hunt for exits by financial sponsors are expected to fuel public offerings, experts say.
The ICE Futures U.S. Exchange has said it will implement rules on Jan. 14 to "prohibit disruptive trading" including illegal practices known as spoofing, where traders rapidly post and cancel orders to simulate genuine market activity.
Health care analytics company Inovalon Holdings Inc. has filed for an initial public offering of up to $500 million for Class A stock, seeing an opportunity for its business to grow during the shift to a more value-based model of health care use, according to a filing with the U.S. Securities and Exchange Commission.
Shake Shack, a private equity- and hedge fund-backed hamburger and hot dog chain, has filed for an initial public offering to beef up expansion plans, joining a hearty menu of restaurant companies that went public over the past year.
Bond insurer Ambac Assurance Corp. has sued Bank of America Corp. seeking to recover approximately $600 million it has either paid out or expects to pay out on faulty mortgage-backed securities issued by Countrywide Financial Corp.
The U.S. Securities and Exchange Commission in California federal court on Tuesday accused a Santa Barbara-based man of raising $3.4 million from investors to buy pre-initial public offering shares of Facebook Inc. and Twitter Inc. and instead using the proceeds to fund his own money-losing day trading activities.
The largest credit ratings agencies are still showing signs of conflicts of interest between the process of rating financial products and the financial success of their own businesses, according to a report issued by the U.S. Securities and Exchange Commission on Tuesday.
A U.S. Securities and Exchange Commission-sponsored experiment to draw more investors into trading smaller companies’ stock got a frosty Wall Street reception this week when Citigroup Global Markets Inc., Fidelity Investments, Charles Schwab & Co. Inc. and others criticized the pilot program, taking aim at its proposed treatment of dark pool trading.
The Second Circuit on Tuesday upheld a lower court’s order directing Argentina and several banks to hand over information to hedge fund bondholders about the country’s assets, including diplomatic and military property, rejecting Argentina’s claims of sovereign immunity.