Securities

  • February 12, 2007

    SEC To Spare Some Options Backdaters

    Some companies embroiled in the options backdating scandal will get off scot free, the U.S. Securities and Exchange Commission has admitted.

  • February 12, 2007

    10 Under 40: Fried Frank's Michael Levitt

    While some people find out about billion dollar deals from the daily headlines, Fried Frank Harris Shriver & Jacobson’s Michael Levitt often plays an important role in negotiating big-name—and big-money—capital markets transactions.

  • February 9, 2007

    Corporate Fraud Crackdown Still Needed: Study

    Even though the U.S. Securities and Exchange Commission and auditors have been finding more corporate fraud since the Sarbanes-Oxley Act was passed in 2002, they are still not doing enough, according to a new academic study.

  • February 9, 2007

    Convicted Westar CEO Freed On Bond

    The former chief executive of public utility Westar Energy Inc. has won his fight to be out of prison on bond while he appeals his two-year sentence for bank fraud.

  • February 9, 2007

    IRS Relieves Workers In Backdating Scandal

    Unsuspecting employees faced with hefty tax bills for backdated stock options have been offered a reprieve by the taxman.

  • February 9, 2007

    Hedge Fund Manager Pleads Not Guilty To Fraud

    A former hedge fund manager pled not guilty Thursday to securities fraud and other charges that allegedly resulted in about $88 million in investor losses.

  • February 9, 2007

    SEC Launches Formal Inquiry Into KLA-Tencor

    The U.S. Securities and Exchange Commission has opened a formal probe into KLA-Tencor Corp.’s stock options granting practices, continuing the company's backdating woes.

  • February 9, 2007

    10 Under 40: Sidley's Jose Sanchez

    Though Jose Sanchez’ career has taken him from legal aid programs in California to the U.S. Securities and Exchange Commission to a top-tier law firm one thing has remained constant: a commitment to public service.

  • February 8, 2007

    10 Under 40: Reed Smith's Roy Arnold

    When Roy Arnold first joined Reed Smith as an associate, he had the opportunity to work alongside several senior partners on an important class action case. Now, as partner in the firm, he has taken on a management role himself, as the deputy practice group leader for the securities litigation and enforcement group.

  • February 8, 2007

    Judge OK's $5M Amerigroup Settlement

    A district court judge approved a $5 million settlement Monday in a class action securities suit stockholders filed against managed health care company Amerigroup Corp.

  • February 8, 2007

    Family Charged In $3.7M Insider-Trading Scheme

    Federal regulators on Thursday charged seven individuals, including a New Jersey father and his three sons, for orchestrating a “brazen scheme of serial insider-trading,” which involved stealing information on FDA drug approvals.

  • February 8, 2007

    CFTC Socks N.Y. Hedge Fund Manager With Suit

    The U.S. Commodity Futures Trading Commission has hit a New York hedge fund manager with a lawsuit, alleging that he deliberately overstated the fund’s assets by tens of millions of dollars in order to defraud investors.

  • February 8, 2007

    Judge Denies Raines’ Motion To Accelerate Trial

    The trial of former Fannie Mae CEO Franklin D. Raines will not be moved up, after a federal judge denied Raines’ request that he push the court date to the end of February.

  • February 8, 2007

    LCD Maker Hit With Shareholder Class Action

    Already facing an antitrust lawsuit from consumers, technology display maker LG.Philips LCD now faces a class action suit from shareholders who say the company’s anti-competitive behavior led to a huge drop in its stock price.

  • February 8, 2007

    Court OK’s Ravelston Plea Bargain In Black Case

    The holding company once controlled by newspaper magnate Conrad Black has been given permission to plead guilty to fraud charges in conjunction with the criminal case pending against Black and his former associates.

  • February 7, 2007

    Judge Chides Parmalat Over Recovery Suits

    The New York federal judge presiding over a bunch of lawsuits stemming from Parmalat’s bankruptcy this week reproached the dairy giant for its tactics, adding he doubted the cases would ever go to trial.

  • February 7, 2007

    AG Urges Delay Of UnitedHealth Settlement

    The Ohio attorney general has sent a letter warning a committee overseeing the UnitedHealth Group’s options backdating case that the prospect of a rushed settlement with the company’s disgraced chief executive officer would be unfair to the company’s shareholders.

  • February 7, 2007

    Firm Fined $123M For Foreign Currency Swindle

    A court has imposed a $123 million fine on a Seattle financial services firm accused of involvement in a massive foreign currency fraud that allegedly scammed 25,000 investors.

  • February 8, 2007

    SEC Sues Over Insider-Trading In Energy Merger

    The U.S. Securities Exchange Commission on Tuesday filed an insider-trading suit against a former director of Magnum Hunter Resources Inc., alleging the board member bought company stock before a 2005 merger with Cimarex Energy Co.

  • February 8, 2007

    Regulators Target Hedge Fund For Web Site

    Hedge fund managers are said to be anxiously awaiting the outcome of an action by Massachusetts regulators against a fund accused of making an unregistered public securities offering via its Web site.