The credit rating industry could face major reforms in the near future as a result of the Credit Rating Agency Duopoly Relief Act, set for a vote this week.
Netting its second big catch in less than two months, international powerhouse DLA Piper Rudnick Gray Cary LLP announced that Craig Tanner has joined the firm’s corporate and securities group in the firm's San Francisco office.
Just one day before the extradition of three bankers implicated in the Enron fraud, the U.K.’s House of Commons will hold an emergency meeting Wednesday to debate the treaty that has landed the bankers in hot water.
As the U.S. Securities and Exchange Commission’s industry probe into options backdating gathers steam, the regulator opened informal investigations into two more companies this week, marking nearly half a dozen companies the agency has targeted in the past month over the practice.
A California pension fund that's investigating 23 companies over stock options backdating has begun its litigation campaign with a popular target—health care service provider UnitedHealth Group Inc.
Former hedge fund manager Kirk Wright, facing numerous charges of mail and securities fraud in connection with missing cash totaling more than $100 million, has pleaded not guilty.
The $100 million stumbling block that has been preventing money manager Mario Gabelli from settling antitrust charges brought by the Department of Justice has been removed, clearing the way for a deal to be finalized.
Having exhausted all legal avenues in their home country, three British bankers will be extradited at the end of this week to stand trial in Texas on Enron-related fraud charges.
Natural gas provider Nicor Inc. has agreed to pay the U.S. Securities and Exchange Commission $10 million to settle allegations that the company illegally inflated profits.
The insider trading case against former Qwest Communications chief executive Joe Nacchio hit a roadblock Friday, with a motions hearing postponed to allow the court more time to complete security clearances and determine procedures for viewing classified government documents that may become part of the fallen executive’s defense strategy.
A judge has entered a final judgment in a case brought by the U.S. Securities and Exchange Commission case against the former chief financial officer and chief accounting officer of a financial holding company, bringing to a close fraud allegations that stretch back more than six years.
Silvio Berlusconi, the former prime minister of Italy, was ordered Friday to stand trial in Milan over alleged widespread fraud at his family-owned media empire. Some of the charges threaten up to six years in jail.
The U.S. Securities and Exchange Commission wasted both time and money on its ill-fated hedge and mutual fund rules when it should have been tackling other issues, said SEC Commissioner Cynthia Glassman.
The U.S. Securities and Exchange Commission and the oversight agency for accounting firms pushed off distributing the board’s guidelines related to backdating stock options to auditors until the SEC fine-tunes a proposed rule to reform executive pay disclosure.
While many companies and associations agree that heightened regulation of European Union securities trading and post-trading may stimulate competition, some have questioned the need for increased intervention in the industry.
As technology and industry practices evolve, the SEC will vote Wednesday on an interpretive release that would change the guidelines regarding soft-dollar transactions.
Maurice “Hank” Greenberg defiantly continued the fight last Friday against the shareholders of his former company, American International Group Inc., who are suing him for allegedly inflating revenues by hundreds of millions of dollars.
Former investors in insolvent hedge fund Bayou Group will soon have to defend themselves in court, after receivers for the now-defunct fund filed 25 lawsuits seeking to redistribute proceeds paid to investors before the group’s collapse.
An insurer that allegedly helped embattled mortgage giant Fannie Mae reduce earnings volatility has become the latest target of Fannie’s investors, who have sued the company for its role in the massive fraud at the mortgage lender.
In a victory for Enron Corp.’s remaining estate, Merrill Lynch & Co. Inc. has agreed to pay the fallen energy trader $29.5 million to settle allegations that it helped plunge Enron into bankruptcy.