The U.S. Securities and Exchange Commission has filed a motion opposing a former Brocade Communications Systems Inc. executive's attempt to quash the subpoenas of Merrill Lynch and Deutsche Bank in his case.
Brazilian oil firm Petroleo Brasileiro SA may be in the clear over its acquisition of the country’s second largest fuel distributor, Grupo Ipiranga, after an internal commission didn’t find any proof of insider trading.
A federal judge has dismissed Grant Thornton’s spoliation counterclaim, handing Parmalat Chief Executive Officer Enrico Bondi a victory in his long-standing campaign to hold the underwriters of the Italian dairy giant accountable for its collapse.
The lead plaintiffs in the securities class action filed against now-defunct futures brokerage Refco Inc. have formally objected to a motion filed by some of the defendants asking the court to reconsider the allegations against them.
A federal judge on Wednesday threw out a shareholder's suit against America Online Inc. relating to its merger with Time Warner Inc., saying it exceeded the two-year statute of limitations.
Power company Allegheny Energy Inc. is just one step away from bringing an end to a long-running consolidated class action filed against the company over financial omissions and misstatements.
A news release in early May touting Morrison & Foerster LLP’s victory in defending Novellus Systems Inc. from a stock options backdating lawsuit proved weeks too early after a modified complaint with harsher allegations reappeared on Thursday.
The defendants in a consolidated securities suit against Xethanol Corp. filed a memorandum Thursday in support of their bid to have the case thrown out, arguing that the complaint fails to state a valid fraud claim under federal securities laws.
The U.S. Securities and Exchange Commission is reportedly investigating unusual trading activity involving Dow Chemical Co. related to accusations that two former top executives negotiated an unauthorized takeover of the company.
The U.S. Securities and Exchange Commission has issued new interpretive guidance for Section 404 of the Sarbanes-Oxley Act designed to help companies strengthen internal controls and lower compliance costs.
A district court judge on Tuesday dismissed a proposed securities class action suit against the Esteé Lauder Cos. Inc. and its executives, ruling that the plaintiff, a company shareholder, failed to show that he suffered an economic loss through the defendants’ alleged misstating of financial data.
A federal judge refused to toss a suit against Deloitte & Touche USA LLP, claiming it neglected to investigate allegedly improper accounting by insiders of a Pennslyvania-based healthcare finance company that collapsed into bankruptcy.
An investment banker from Pakistan will be indicted by the Department of Justice for allegedly trading on insider information in the days leading up to the $32 billion buyout of energy company TXU Corp.
The founder of Adelphia Communications Corp., John Rigas, and his son Timothy face years behind bars after an appeals court upheld all but one of their multiple convictions for an accounting fraud scandal that engulfed the cable company.
The U.S. Securities and Exchange Commission and several former executives of Collins & Aikman have agreed to allow the executives more time to answer the regulator's complaint accusing them of fraud.
Only two months after it went public, computer security company Sourcefire Inc. is facing a lawsuit in Maryland accusing it of offering IPO materials that were false and misleading.
A judge has denied uniform maker Cintas Corp.’s request to sanction a labor union and its counsel over a securities suit Cintas contended the union filed solely to harass the corporation.
Federal regulators have ordered Hewlett-Packard Co. to disclose disagreements which led to director resignations after former board member Thomas Perkins abruptly resigned over the computer giant’s handling of boardroom media leaks.
Investors in collapsed hedge fund Wood River Capital Partners LP have reportedly charged UBS AG, the fund’s prime broker, of fraudulently earning more than $100 million by misusing the knowledge of its trades.
The Supreme Court of New Jersey has rejected Citigroup Inc.'s attempt to move a $10 billion lawsuit brought by Parmalat SpA from the Garden State to Italy, Parmalat said Wednesday.