Securities

  • June 27, 2006

    Bank Investor Reaches Settlement Over WaMu Buyout

    An angry investor has reached a settlement with Commercial Capital Bancorp Inc., just one month after he filed a purported class action lawsuit against the lender over the company's announced merger with Washington Mutual Inc.

  • June 27, 2006

    SEC To Address Backdating

    The U.S. Securities and Exchange Commission plans to provide guidance this summer on the granting of stock options, in the wake of dozens of companies disclosing internal investigations, subpoenas and SEC inquiries into their options-granting practices.

  • June 27, 2006

    Wall Street Swats “Fly” With Infringement Suit

    The brokerage units of three of the world’s largest securities firms—Merrill Lynch & Co., Morgan Stanley and Lehman Bros. Holdings Inc.—are taking Web site theflyonthewall.com to court, alleging that the online provider of financial news is infringing on the firms’ proprietary equity research.

  • June 27, 2006

    Extradition Looms For U.K. Bankers

    Delivering a fatal legal blow, the European Court of Human Rights has refused to interrupt extradition proceedings against three British bankers facing trial in Texas on Enron-related charges.

  • June 26, 2006

    E-Mails Show AOL Execs Knew Of Overstatements

    AOL executives were under pressure beginning in 2000 to overstate revenues in order to hasten the company’s merger with Time Warner, according to recently unsealed e-mails sent and received by former AOL Time Warner chairman Steve Case.

  • June 26, 2006

    Law Firm Profile: Katten Muchin Rosenman LLP

    With a reputation for litigating tough accounting and restatement cases and a success rate far above the national average, it’s no wonder that clients are drawn to the securities litigation practice group at Katten Muchin Rosenman LLP.

  • June 26, 2006

    SEC Investigates Texas Energy Company

    The U.S. Securities and Exchange Commission is investigating Texas-based energy company Patterson-UTI Energy Inc., almost two months after Patterson’s former chief financial officer pled guilty to charges that carry a possible 30 year prison sentence.

  • June 26, 2006

    Adelphia Slaps Motorola With Fraud Suit

    Bankrupt Adelphia Communications Corp. is suing Motorola Inc., claiming that executives from both companies collaborated in a fraud scheme that drove Adelphia into bankruptcy.

  • June 26, 2006

    Lord Black Offers Stake To Key Government Witness

    The indicted former newspaper tycoon Conrad Black and his longtime business partner F. David Radler must have a strange relationship. While Radler has agreed to testify against Black in his criminal fraud trial in March, the two men are reportedly still doing business with each other.

  • June 23, 2006

    Hands Off Hedge Funds, Appeals Court Tells SEC

    The U.S. Securities and Exchange Commission’s authority to regulate the $1.1 trillion hedge fund industry has been struck down, with an appeals court calling the agency’s oversight of hedge fund managers “arbitrary.”

  • June 23, 2006

    Troubled Qwest Called Back Into Court

    The already long list of lawsuits against Qwest Communications International Inc. grew Wednesday, as Merrill Lynch & Co. filed its own claims against the besieged communications company rather than accept a $400 million class action settlement to be divided among numerous parties.

  • June 23, 2006

    Giant Hedge Fund Probed By SEC: Report

    Securities and Exchange Commission regulators are investigating one of the world’s top hedge funds for insider trading, according to a published report.

  • June 23, 2006

    Jail For Former Homestore CEO

    A federal jury has convicted founder and former chief executive of online real estate listings company Homestore Inc. of masterminding a $67 million accounting fraud, marking the latest in a string of former executives found guilty of similar charges in connection with the scheme.

  • June 22, 2006

    Judge Refuses To Toss Suit Against Ex-AIG Chairman

    A Delaware judge has thrown out a request by former American International Group Inc. chairman Maurice “Hank” Greenberg to stop a suit that alleged he reaped excessive payments from the company through a sham operation.

  • June 22, 2006

    Morgan Stanley To Appeal $1.58B Verdict Next Week

    Financial services powerhouse Morgan Stanley will be in a Florida appeals court next Wednesday at 10 a.m. to appeal a May 2005 verdict that awarded Revlon Inc. Chairman Ronald Perelman $1.58 billion, in a case that centered on allegations that Morgan Stanley was complicit in securities fraud.

  • June 22, 2006

    Scientific-Atlanta Settles Claims Over Adelphia Scandal

    Scientific-Atlanta Inc. will cough up $20 million to resolve charges brought by the U.S. Securities and Exchange Commission that it assisted cable operator Adelphia Communications Corp. in overstating its earnings by about $43 million.

  • June 22, 2006

    UnitedHealth Challenges AG’s Authority

    UnitedHealth Group is trying to stave off yet another lawsuit, challenging the investigation that the Minnesota Attorney General launched earlier this month into possible stock option grants and backdating.

  • June 22, 2006

    British Bankers Try To Resist Enron Extradition

    Still trying to ward off possible extradition to the U.S., three British bankers are mulling an appeal to the European Court of Human Rights as they continue attempting to escape standing trial in Texas on Enron-related charges.

  • June 21, 2006

    Ex-Computer Associates Exec Pleads Guilty

    A former executive of Computer Associates International Inc. pled guilty to obstruction of justice charges Wednesday, the latest domino to fall in the company’s $2.2 billion accounting scandal.

  • June 21, 2006

    Short Seller Gets Eleven Years

    Short seller Anthony Elgindy was slapped with 11 years and three months in prison and a $1.6 million fine by a federal judge yesterday for his role in manipulating stock using confidential government information gained from an agent with the Federal Bureau of Investigation.