A federal appeals court has largely overturned the convictions of four Merrill Lynch & Co. executives who were accused by the government of participating in a conspiracy to defraud Enron Corp. shareholders in the so-called Nigerian barge deal.
The Senate Banking Committee approved a bill Wednesday that aims to boost competition and oversight of credit-rating firms.
Natural gas provider El Paso Corporation has agreed to pay $273 million to settle a shareholder class action alleging securities fraud and the manipulation of markets.
A former research analyst has been ordered to shell out more than $2.3 million, a penalty stemming from allegations that he reaped millions of dollars from stock sales while issuing misleading reports.
The U.S. Securities and Exchange Commission has accused three former executives of Janus Capital Management LLC of violating securities laws by engaging in alleged improper market-timing and frequent trading of certain mutual funds.
A federal jury on Tuesday found Robert A. Scavone, Jr., a former trader at Van der Moolen Specialists USA LLC, not guilty of trading ahead of investor orders for his own profit, a process known as front-running.
Embattled Brooks Automation Inc., a supplier for the semiconductor industry, has restated its earnings over a nine-year period by a whopping $64.5 million after an internal investigation found widespread “errors” in stock option grants.
The U.S. Securities and Exchange Commission filed a lawsuit Monday against five former executives of bankrupt office and computer product distributor Daisytek International Corp. for allegedly overstating earnings between 2000 and 2002.
In the latest chapter in the industrywide investigation into bid-rigging in the insurance industry, St. Paul Travelers Companies Inc. has agreed to cough up $77 million to settle with policyholders as well as authorities in New York, Connecticut and Illinois.
The former chief executive of Impath Inc., an insolvent cancer-testing company, agreed Tuesday to pay $2 million to settle civil charges brought by securities regulators, adding to the three-month prison term she was given in a parallel criminal case.
Corporate boards are at fault for not reporting why chief executives sell off so much of their company’s stock—especially stock options—when times get tough, according to a report on CEO stock sales from a corporate governance group.
An accounting oversight board established by the Sarbanes-Oxley Act has issued guidelines for auditors on dealing with the manipulation of stock option grants, in the wake of SEC investigations, shareholder lawsuits, corporate restatements and even criminal charges stemming from options backdating.
A month after Utah legislators paved the way for hefty fines against so-called naked short-sellers with a new law, Wall Street’s prime trade association is suing the state government, saying the law illegally usurps the jurisdiction of federal regulators.
The last of five executives accused of IPO spinning has settled with New York State Attorney General Eliot Spitzer for $4.4 million.
In a boost for Citigroup Inc., a federal court has tossed the majority of class action claims against the investment giant’s Salomon Smith Barney unit as the aftershocks of the 2003 mutual fund scandal continue to reverberate.
Latham & Watkins LLP has lured to its New York litigation department a federal prosecutor whose securities and commodities fraud experience ranges from the prosecutions of Martha Stewart to the cases against former Adelphia Communications Corp. executives.
In a bid to block the proposed $21.3 billion purchase of HCA Inc. by three private equity firms, the hospital chain’s shareholders are taking legal action, this week filing a series of lawsuits against the nation's largest for-profit hospital operator.
Former WorldCom Inc. chief executive officer Bernard J. Ebbers lost his bid Friday to have his conviction overturned, one year after being sentenced to 25 years in jail for his role in the securities fraud that brought down the company.
A former principal and a former trader at Suncoast Capital Group Ltd. have been found liable for violating securities laws in an alleged kickback scheme between the defendants and an employee of New York Life Insurance Company Inc.
In a case that harks back to the scandal involving ImClone Systems Inc. and domestic diva Martha Stewart, the U.S. Securities and Exchange Commission has settled with a former director of drug development company Pozen Inc. and a former pharmaceutical executive who sold off shares after learning that the company's bid for a new migraine treatment would be denied by federal regulators.