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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Joseph Nacchio, the former CEO of troubled telecommunications company Qwest Communications International Inc., was sentenced on Friday to six years in prison and forced to pay a fine of $19 million as well as forfeit the $52 million profit he had amassed in illegal stock sales.
The U.S. Securities and Exchange Commission on Thursday granted approval to the merger of the National Association of Securities Dealers Inc. and NYSE Group Inc.’s regulatory bodies, creating one overarching organization that will oversee member firm regulation.
Offshore hedge Fund Veras Capital Partners has asked a court to dismiss a suit filed by one of its former investors, another offshore hedge fund called Gottex Value Added Market Neutral Master Ltd. Veras says claims made by Gottex are barred by an applicable two year statute of limitations.
A $35 million settlement between software company Veritas and disgruntled shareholders has been vacated by a U.S. appeals court, which ruled the investor class was misled by the terms of the deal negotiated by attorneys from the firm of veteran plaintiffs' lawyer Bill Lerach.
The Federal Energy Regulatory Commission slammed floundering hedge fund Amaranth Advisors LLC and two of its former heads with $291 million in fines and a show cause order Thursday, just days after one of them challenged FERC's jurisdiction in court.
A federal appellate court ruled Wednesday that a receiver appointed by a California district court must relinquish $1 million to plaintiffs in a securities action in an Illinois district court against hedge fund Piranha Capital LP.
A former executive of SafeNet Inc. was arraigned Thursday on charges stemming from an options backdating scandal that rocked the software company last year.
In response to recent concerns about cross-border takeovers, the European Commission will consider new legislation on allowing member state governments to step in and block takeovers if they determine national interest will be threatened by the deal.
In a two-pronged effort to stifle market manipulation, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission took on pipeline company Energy Transfer Partners LP Thursday, which they say exploited Hurricane Rita to force down natural gas prices in 2005.
Two months after agreeing to settle shareholder suits over its alleged securities violations for $600 million, Cardinal Health Inc. will be footing an additional $35 million payout to the U.S. Securities and Exchange Commission.