Securities

  • June 28, 2006

    Stay In Ruling Means Business As Usual For SEC, Funds

    Although an appeals court decision vacated the U.S. Securities and Exchange Commission’s hedge fund rule, hedge fund managers looking to deregister with the SEC will have to remain under the agency’s thumb for a little longer.

  • June 28, 2006

    Judge Orders Second Hearing On BAWAG Settlement

    A bankruptcy court has delayed the approval of a settlement between creditors of bankrupt futures broker Refco Inc. and Austria’s Bank Für Arbeit und Wirtschaft AG, pushing a hearing on the $675 million deal to the end of the week.

  • June 28, 2006

    Powerhouses Morgan Stanley and Perelman Face Off

    Lawyers for investment banking powerhouse Morgan Stanley asked a Florida appeals court Wednesday to overturn a verdict that would force it to pay mogul Ron Perelman $1.58 billion.

  • June 28, 2006

    Hedge Funds Under Fire At Senate Hearing

    Attorneys slammed the sparse regulations on the hedge fund industry on Wednesday at a hearing before the Senate Judiciary Committee, highlighting the growing concern after a federal appeals court ruled last week that the U.S. Securities and Exchange Commission cannot regulate the $1.1 trillion industry.

  • June 28, 2006

    NFL Players Throw Suit At League, Union

    Seeking to recover $20 million, a group of current and former National Football League players have sued the league and its union, demanding that the entities be held liable for the losses they suffered at the hands of hedge fund manager Kirk Wright.

  • June 27, 2006

    Judge Not About To Let Lord Black Off Hook

    Although a federal judge decided not to revoke Conrad Black’s bond Monday, she let the court know she plans to conduct a thorough review of the financial state of the indicted former newspaper mogul.

  • June 27, 2006

    Morgan Stanley To Pay SEC $10M

    Morgan Stanley will pay $10 million to end an enforcement action brought by the U.S. Securities and Exchange Commission that alleged the financial services powerhouse didn’t do enough to staunch the misuse of insider information.

  • June 27, 2006

    Senator Calls For Hedge Fund Hearings

    The U.S. Securities and Exchange Commission may not be able to govern hedge funds, but at least one senator is determined not to let the $1.1 trillion industry go unregulated.

  • June 27, 2006

    Ellison Begins Donations, Harvard Fears Exclusion

    Harvard University is still waiting for Oracle co-founder Larry Ellison to put his money where his mouth is. Ellison, who recently made the first payment in his $100 million settlement over insider-trading allegations, promised the University a $115 million donation, but has yet to follow through.

  • 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.