Federal prosecutors have recommended that the former financial chief of Qwest Communications International Inc. be awarded a lighter sentence for aiding the government in its investigation into the telecommunications giant’s massive accounting fraud scandal.
The creditors of a bankrupt auto parts maker said Thursday that they plan to use confidential information from a U.S. Securities and Exchange Commission probe to prepare for a lawsuit against General Motors Corp.
Fairfax Financial Holdings has slapped a slew of hedge funds with a $5 billion dollar lawsuit for allegedly hatching a plot to manipulate the insurer's shares.
A federal judge has shot down a bid by Jeffrey K. Skilling to overturn his fraud and conspiracy convictions, giving the green light to federal prosecutors to forge ahead in their case against the former chief executive of Enron Corp.
The U.S. Securities and Exchange Commission capped months of debate Wednesday after voting unanimously to approve bold changes to executive-pay disclosures for publicly traded companies.
Freddie Mac’s $410 million securities class action settlement is closer than ever to going into effect after the judge gave a nod for preliminary approval, the Ohio State Attorney General announced on Tuesday.
The U.S. Securities and Exchange Commission has suspended the former chief financial officer and chief accounting officer of Conseco Finance from practicing before the Commission for five years.
The number of securities fraud class action lawsuits has continued to drop this year amid signs that corporations are beginning to take corporate governance more seriously, according to a study by Stanford University.
Kenneth Langone’s attorneys have tried their best to poke holes in New York Attorney General Eliot Spitzer’s case against the Home Depot founder, but to no avail. A judge has refused to remove Langone from a lawsuit filed over former New York Stock Exchange Chairman Richard Grasso’s $187 million pay package.
HealthSouth Corporation has tapped a partner at a Birmingham, Ala.-based law firm, as the company looks to leave behind the massive accounting scandal that nearly bankrupted it.
A group of investment banks has agreed to fork over $99 million to settle an ongoing class action lawsuit against collapsed telecommunications company Global Crossing Ltd.
The top accountant at Electronic Data Systems Corp. is under scrutiny from the U.S. Securities and Exchange Commission—the latest development in a two-year probe into the millions of dollars the company paid to now-bankrupt auto supplier Delphi Corp.
Two former executives of the Baptist Foundation of Arizona (BFA) each face more than four decades in prison after their conviction Monday on charges stemming from their roles in the foundation’s collapse.
While the proposed $22 billion purchase of HCA Inc. by three private equity firms will put the company into private hands, it will not pull the hospital chain out of regulatory hot water.
An appeals court ruling last month that the Securities and Exchange Commission cannot regulate the hedge fund industry has left a regulatory void, SEC Chairman Christopher Cox told a Senate panel on Tuesday.
The U.S. Securities and Exchange Commission is investigating Par Pharmaceutical Companies Inc. following the company’s July 5 announcement that it will restate its financial results for the fiscal years 2004 and 2005, and the first quarter of 2006.
With a courtroom battle on the horizon, the legal bout between regulators and former management at the New York Stock Exchange Inc. is approaching its boiling point, with former director Kenneth G. Langone accusing New York Attorney General Eliot Spitzer in court documents of misconstruing evidence.
A solvent subsidiary of bankrupt commodities brokerage Refco Inc. has agreed to pay Refco's creditors $127.5 million, adding to a swelling reservoir of cash set aside to deal with creditors’ claims.
A California man accused of orchestrating a massive affinity fraud scheme has been ordered to pay $30 million in a final judgment by default handed down by a federal judge in Los Angeles.
A federal judge has reprimanded yet another former HealthSouth Corp. executive as part of the multi-billion dollar fraud the health care provider allegedly perpetrated over a 10-year span.