Securities

  • July 31, 2007

    SEC Brings Charges Against AspenTech, Execs

    The U.S. Securities and Exchange Commission on Tuesday charged software company Aspen Technology with inflating its revenues, and accused the company's former top officials with orchestrating the plot over a three-year period.

  • July 31, 2007

    Citing Tellabs, Circuit Court Hands Baxter Victory

    On Friday, Baxter International Inc. once again fended off a putative securities class action related to the healthcare giant's revisions of its earnings statements in 2004.

  • July 31, 2007

    Judge Merges Vonage Securities Class Actions

    A federal judge in New Jersey has agreed to consolidate 14 purported class action cases that accuse Vonage Holdings Corp. of making false statements with the U.S. Securities and Exchange Commission prior to its initial public offering.

  • July 31, 2007

    Baker & McKenzie Snags DOJ's No. 2 Attorney

    Baker & McKenzie LLP will be adding to its ranks the second-in-command in the U.S. Attorney's Office, who announced his resignation to the post in May amid the political uproar that came in the wake of the Department of Justice's firings of U.S. Attorneys.

  • August 3, 2007

    For Subprime Collapse Casualties, A New Practice

    Patterson Belknap Webb & Tyler LLP has launched an interdisciplinary subprime mortgage group in its New York office spanning members of the firm's litigation, corporate financial, real estate, bankruptcy, securities and white collar crime practices.

  • July 30, 2007

    Moody's Expands Dismissal Bid In MDL

    Moody's Investors Service Inc. has filed court papers pointing to two June developments to bolster its bid to have Lloyds TSB Bank PLC's claims alleging that the company violated securities laws dismissed, in a case that falls under the umbrella of the multidistrict litigation related to National Century Financial Services Inc.'s 2002 collapse.

  • July 30, 2007

    Conspiracy Claims Against Headwaters Remanded

    An appellate court on Friday overturned the dismissal of civil conspiracy claims against natural resources company Headwaters Inc., but upheld the dismissal of patent infringement claims.

  • July 31, 2007

    UnitedHealth CEO's Options Freeze Extended

    A judge has extended an order that blocks former UnitedHealth Group Inc. CEO William McGuire from exercising his stock options until a special litigation committee can determine whether the company should file claims against the ousted executive.

  • July 30, 2007

    Energy Co. Found In Contempt In SEC Investigation

    A judge has found energy and mining company International Energy and Resources Inc. in contempt of court for allegedly failing to turn documents over to the U.S. Securities and Exchange Commission, while the company has said that it has complied with the SEC's requests.

  • July 30, 2007

    SOX Cannot Revive Dean Witter Fraud Case: Court

    An appeals court has marked the fifth anniversary of the Sarbanes-Oxley Act by dismissing a securities fraud case against brokers Dean Witter Reynolds Inc., ruling the class action could not be revived even by today's more generous statute of limitations.

  • July 30, 2007

    Parmalat Deposition To Take Place As Scheduled

    The judge overseeing a securities class action against Parmalat SpA has ruled that the testimony of an Italian consultant will go ahead as scheduled this week, despite a letter from a Milan public prosecutor requesting otherwise.

  • July 30, 2007

    TXU's Buyers Pay Up To Silence Suits Over Merger

    The private equity firms that are angling for Dallas-based energy company TXU Corp. said Friday they will settle the slew of class action and derivative suits currently in federal and state courts—including the proposed class action shareholders filed on Thursday.

  • July 30, 2007

    Court OKs $36M Legal Bill In Bristol-Myers Suit

    Silencing the objections of a shareholder who decried the bill, an appeals court has approved a $36.6 million fee sought by attorneys at Labaton Sucharow & Rudoff for its work in negotiating a settlement with drug maker Bristol-Myers Squibb.

  • July 30, 2007

    Dismissal Of CIBC Suit Reversed—Again

    A putative class of investors suing two firms for allegedly aiding InterBank Funding Corp.'s securities fraud will get a third chance to persuade a district court that they have successfully pled their case.

  • July 30, 2007

    Deutsche Bank Sued In Louisiana Over Tax Shelters

    Deutsche Bank has removed a lawsuit against it from state to federal court, where it now faces allegations that it fooled investors into participating in illegal tax fraud while charging exorbitant fees.

  • July 30, 2007

    ConAgra Drops $4M To Settle Retiree Lawsuits

    ConAgra Foods Inc. has agreed to pay $4 million to settle a trio of class actions that accuse it of breaching its fiduciary duty by encouraging its retirees to imprudently invest in company stock as part of their 401(k) plans.

  • July 30, 2007

    FINRA Launches Regulatory Operations

    The Financial Industry Regulatory Authority, the new self-regulatory organization for U.S. securities brokers and dealers, opened for business Monday, promising to streamline oversight of public companies.

  • July 27, 2007

    $245M Suit Says Mayer Brown Aided Refco Fraud

    The buyout firm that once controlled Refco Inc. slammed Mayer Brown Rowe & Maw LLP with a suit Thursday that implicated the powerhouse law firm in helping Refco with the bad transactions and cover-ups that sent it into bankruptcy.

  • July 27, 2007

    Suit Against Worldcom Underwriter To Move Forward

    Plaintiffs suing the only WorldCom Inc. underwriter that has not resolved securities fraud allegations were handed a victory Wednesday, when an appeals court held that their claims were not barred by the statute of limitations.

  • July 27, 2007

    Judge Puts Kibosh On BofA Suit Against ABN Amro

    A district judge has dismissed Bank of America Corp.'s breach of contract lawsuit against ABN Amro Holding NV over the sale of LaSalle Bank Corp. after a Dutch Supreme Court cleared issues regarding shareholder authority over the deal.