A magistrate judge has ordered NTL Inc.’s two reorganized companies, both defendants in a federal securities fraud case, to pay plaintiffs’ attorneys fees for tying up the discovery process and allowing key information to be destroyed.
The U.S. Securities and Exchange Commission has given investment bank Goldman Sachs Group Inc. permission to expand its client-commission arrangements to include a wider range of firms.
A shareholder of Clear Channel Communications has challenged the media company’s attempt to sell the company, saying the bidding process was rigged by top executives who are part of a group of investors that wants to take over the company.
Prosecutors for the United States government accused executives at America Online on Tuesday of conspiring with a now-defunct technology firm in Las Vegas to inflate the firm’s revenue using secret side deals and backdated contracts.
A hedge fund manager who deceived investors by manipulating the stock market and pocketing $40 million in performance fees has been jailed for three years.
An Italian judge on Wednesday said he would not let Parmalat SpA consolidate three lawsuits against the dairy company and its subsidiaries into a case that would have brought as many as 100 defendants into one trial.
Former Computer Associates executive Lloyd Silverstein, who was the first executive to plead guilty in the $2.2 billion scandal at Computer Associates, received no jail time in his sentencing Wednesday.
A New York federal judge has signed off on a $40.3 million settlement for mutual fund investors who claimed Merrill Lynch & Co. Inc. provided misleading analyst research about Internet companies to attract profitable investment banking business.
In an industry still reeling from accounting scandals from the late 1990s, the country's largest auditors have formed a nonprofit group which seeks to restore shareholders’ confidence by involving them in improving auditing procedures.
Qwest Communications International Inc. has reached a $47 million settlement with one of the country’s biggest pension funds over allegations that the telephone company swindled the fund out of $150 million.
Hoping to suppress evidence of stock option backdating, directors of Caremark Rx Inc. are choosing to take a deal that minimizes the profit for shareholders, Express Scripts Inc. charges in an amended lawsuit regarding its race with CVS Corp. to take over the pharmaceutical benefit company.
A judge has awarded Milberg Weiss & Bershad and other firms about a third of what they requested in fees and expenses for representing the plaintiffs in a lawsuit filed over the accounting scandal at Nortel Networks Corp., but attorneys will still get a paycheck of more than $37 million.
The U.S. Securities and Exchange Commission has approved a market-based system for evaluating employee stock options, marking the first time the agency has favored a market-based model over academic methods.
Calgon Carbon Corp. was awarded $10 million after charging three investment firms with negligent misrepresentation regarding the carbon company’s purchase of common stock of Advanced Separation Technologies Inc.
Two former executives of Cendant Corp. have been sentenced to probation for their roles in a $500 million accounting fraud scheme at the company, just days after the company’s former chairman was handed a 12-year prison sentence.
A former executive of investment firm SG Cowen & Co. LLC has agreed to pay the U.S. Securities and Exchange Commission $150,000 to settle insider-trading and fraud charges relating to a series of private investment in public equity (PIPE) transactions.
The French National Assembly will not debate a controversial proposal to introduce class action litigation in the country, after lawmakers removed the legislation from the Assembly’s schedule.
More than six months after the U.S. Securities and Exchange Commission launched an investigation into its stock options granting practices, KLA-Tencor Corp. restated its financial reports and said that its past practices violated its own policies.
The Securities and Exchange Commission has sent deficiency letters to at least a handful of mutual funds over their securities-lending practices.
Attorneys for the so-called NatWest three have asked the court to dismiss the charges against the former bankers, saying that the indictment is flawed because the grand jury relied on the honest-services provision.