A senior partner specializing in corporate and securities law with Davies Ward Phillips & Vineberg has moved to Carter Ledyard & Milburn LLP.
Beleaguered transportation and storage company Stolt-Nielsen SA will not be able to cross a shareholder lawsuit off its list of legal worries, after a judge denied the company’s motion to dismiss the class action.
Unable to leave the courtroom behind, American International Group Inc. has been hit with a new lawsuit by its largest shareholder for allegedly mishandling a $1.6 billion settlement with federal regulators related to the insurance giant’s purported multi-million dollar accounting fraud.
Two more lawyers are leaving Milberg Weiss Bershad & Schulman, the law firm indicted last month for allegedly paying kickbacks to lead plaintiffs in nearly 150 class action suits.
The U.S. Supreme Court has asked the Bush administration to weigh in on whether shareholders should be able to file antitrust claims against the world’s leading investment banks over their role in initial public offerings.
Sixteen former shareholders of Daimler-Benz AG, who together owned almost 2% of the company’s stock, may receive about €200 million to settle an ongoing lawsuit with auto maker DaimlerChrysler AG, according to a settlement proposal issued by a regional court judge in Stuttgart, Germany.
The head of Goldman Sachs and President Bush’s nominee for the U.S. Treasury Secretary has been subpoenaed in the lawsuit over the lucrative pay package of former NYSE Chairman Richard Grasso.
An investor in the crumbling Sphinx Managed Futures Fund has appealed the $263 million settlement between SMFF and bankrupt futures broker Refco Inc., claiming that the fund used money from defrauded investors to make the payment.
A federal judge has pushed off the sentencing for former Enron Corp. chief executives Kenneth Lay and Jeffrey Skilling, who were found guilty by a jury last month for the fraud and conspiracy that led to Enron’s nosedive into bankruptcy.
The International Securities Exchange can trade options without a license on two widely known exchange-traded funds without infringing on the funds’ trademarks, the Second Circuit unanimously confirmed on Friday.
Home Depot Inc. has joined the growing list of companies embroiled in questions about options practices, revealing that executives on three occasions were awarded options at below-market prices.
A federal court in Maryland has approved a $1.1 billion settlement agreement, bringing a 3-year old class action securities suit against Dutch retailer Royal Ahold N.V. to a close. U.S. shareholders filed the lawsuit in the wake of a massive accounting scandal that brought Royal Ahold to the brink of collapse in 2003.
Federal prosecutors opened their arguments on Thursday against two former high-profile traders at the New York Stock Exchange, accusing them of defrauding investors.
The flood of federal probes into options backdating continued this week, as three more companies received inquiries from the U.S. Securities and Exchange Commission.
Mortgage giant Fannie Mae's senior employees are facing scrutiny from a federal official, who told the U.S. Senate Banking Committee that the executives enriched themselves with bonuses based on manipulated accounting.
The sole conviction stemming from the massive fraud at HealthSouth Corp. has resulted in an eight-year prison sentence for Hannibal “Sonny” Crumpler, a former vice president at the medical services provider.
In what may add up to the most expensive defense in history, O’Melveny & Myers LLP, the Los Angeles-based law firm which has defended former Enron chief executive Jeffrey Skilling on civil and criminal charges since 2001, is reportedly waiting to collect tens of millions of dollars in legal fees.
A jury began deliberating Thursday afternoon over whether Richard M. Scrushy will serve jail time for charges stemming from a $500,000 payoff federal prosecutors argued secured him a seat on a state regulatory board. If convicted, Scrushy faces the possibility of decades in jail and hundreds of thousands of dollars in fines.
In a bid to bolster its securities practice in key business markets, the United States-based Reed Smith LLP said this week it plans to merge with U.K. firm Richards Butler LLP, creating one of the 20 largest law firms in the world.
In a blow to Refco Securities LLC, a U.S. judge has ruled that the unit of bankrupt brokerage giant Refco Inc. must follow a British court judgment and fork over $124 million to Russia's largest commercial bank.