Securities

  • January 25, 2007

    U.S., European Regulators To Step Up Cooperation

    In light of the pending union between exchanges Euronext N.V. and NYSE Group Inc., the Securities and Exchange Commission and a group of European regulators on Thursday signed an agreement aimed at ensuring oversight, investor protection and market stability and integrity.

  • January 25, 2007

    Law Firm, Lay Dropped From Enron Suit

    A Texas court overseeing a massive securities class action against Enron Corp. has granted the lead plaintiff’s request to dismiss several defendants, including the law firm Vinson & Elkins LLP and deceased Enron founder Ken Lay from the lawsuit.

  • January 24, 2007

    Hollinger Defendants To Be Tried Together

    A district court judge has ruled that all four former executives implicated in the accounting scandal at newspaper conglomerate Hollinger Inc. will be tried together in a trial set to begin in March.

  • January 24, 2007

    Insurance Co. Granted Request For NASD Arbitration

    A Pennsylvania insurance company has won a small victory in a securities and wrongful-termination case filed against the firm after a judge ruled that the company has the right to compel arbitration before the National Association of Securities Dealers.

  • January 24, 2007

    Shareholder Files Suit In Bid For Midwest Air

    Claiming that Midwest Air Group Inc. is trying to thwart its merger with Midwest Airlines, discount airline AirTran Airway filed a complaint in New York State Supreme Court Tuesday to compel the company to disclose its shareholder list.

  • January 24, 2007

    SEC OK's Updates To NASD Arbitration Code

    The U.S. Securities and Exchange Commission has approved several changes to the National Association of Securities Dealers’ arbitration code, which had been proposed by the self-regulatory association in an effort to make arbitration and mediation more transparent.

  • January 24, 2007

    Broadcom Blames Founder For Backdating

    One of Broadcom Corp.'s founders was partly to blame for the options backdating scandal that saw the semiconductor company reveal an extra $2.2 billion in expenses on Wednesday, the company said.

  • January 23, 2007

    Apple CEO Jobs Questioned By Feds

    Apple Inc.’s Chief Executive Steve Jobs was grilled last week by the U.S. Department of Justice and the U.S. Securities and Exchange Commission over stock options backdating practices at the company.

  • January 23, 2007

    Panel Hits Ex-Gemstar CEO With $93.6M Fine

    An arbitration panel has slapped the former chief executive of Gemstar-TV Guide International Inc. with a whopping $93.6 million fine, demanding that he shell out tens of millions of dollars in damages for engineering a vast accounting fraud scheme at the media giant.

  • January 23, 2007

    U.S. Steps Into Fray In IPO Antitrust Case

    Government regulators are asking the U.S. Supreme Court to exempt investment firms from antitrust laws in one of the most closely followed antitrust cases before the Supreme Court.

  • January 23, 2007

    SEC Delays Decision On Board Nominations

    The U.S. Securities and Exchange Commission has delayed a decision on whether to allow shareholders to nominate corporate board members.

  • January 23, 2007

    Heller Eyes Europe With Hire

    It has only been a week since Heller Ehrman LLP said it would soon open a London office, but the firm is already hiring up for its European strategy.

  • January 23, 2007

    SEC’s Proposal May Lure Foreign Companies

    As an increasing number of companies choose to list on foreign exchanges, the U.S. Securities and Exchange Commission has searched for a way to stem the flow of capital out of U.S. markets. The solution to this problem may come in the form of an SEC proposal that aims to loosen restrictions on foreign companies listing stock on U.S. exchanges.

  • January 23, 2007

    K&L Gates Nets Former Asst. U.S. Attorney

    Kirkpatrick & Lockhart Preston Gates Ellis LLP (K&L Gates) has tapped a new partner to round out the firm’s litigation and white collar/criminal defense practice in its Los Angeles, Calif. office.

  • January 24, 2007

    Parmalat Case Stays In Land Of Sinatra, Soprano

    Noting that New Jersey is as good a venue as anywhere in the world, a judge has denied Citigroup’s request to move its case against Parmalat to Italy, calling the financial group’s motion a “hastily cobbled together” and “barren” record that inadequately made its case.

  • January 24, 2007

    Former N.Y. Prosecutor Joins Bracewell & Giuliani

    A former head of the Major Crimes Unit in the U.S. Attorney’s Office for the Southern District of New York has joined Bracewell & Giuliani LLP’s white collar crime practice as a partner in its New York office.

  • January 22, 2007

    NASD Firms Approve Consolidation With NYSE

    The New York Stock Exchange and the National Association of Securities dealers are one step closer to creating a single self-regulatory organization, after NASD member firms voted to approve changes to the organization’s bylaws.

  • January 22, 2007

    Interlocking Boards Spread Options Scandal: Study

    A company was more likely to illegally backdate options if it had a director that sat on the board of another company that had already backdated options, according to a recent study.

  • January 22, 2007

    SEC Charges U.S. Foodservice Vendors With Fraud

    Thirteen former U.S. Foodservice Inc. vendors on Monday became the latest to be charged by the U.S. Securities and Exchange Commission for their roles in a fraudulent scheme to overstated company earnings by about $700 million in 2001 and 2002.

  • January 22, 2007

    Regulator Calls For Extension Of SOX Deadlines

    Smaller companies groaning under the accounting and disclosure requirements mandated by the Sarbanes-Oxley Act of 2002 may be in line for a dose of relief in the form of an extension.