In a move that will move Refco Inc. closer toward emerging from bankruptcy, the commodities broker has reached an oral agreement with its main creditors, lawyers told a bankruptcy judge on Thursday.
Former New York Stock Exchange chief Richard Grasso won a delay Thursday for the start of his trial for excessive executive compensation, allowing for some pretrial appeals to be decided beforehand.
Bankrupt futures broker Refco Inc. has scored a small victory in its Chapter 11 case, after a judge granted the firm more time to seek removal of civil actions filed against it.
Fannie Mae’s chief regulator said Wednesday that his agency, the Office of Federal Housing Enterprise Oversight (OFHEO), will probably initiate lawsuits against former Fannie Mae executives who directed the company amid its $10.6 billion accounting misdeeds.
The regulatory wing of the NYSE Group Inc. fined three investment banks Wednesday over a laundry list of record-keeping and supervisory failures, with the group topped by Wachovia Corp.’s $2.25 million hit.
Bankrupt hedge fund Bayou Management LLC has filed a $30 million lawsuit against one of its investors, looking to recoup investments made and profits earned before Bayou collapsed.
In the wake of a broadening federal inquiry into Dell Inc.’s financial reporting procedures, Lerach Coughlin Stoia Geller Rudman & Robbins LLP has initiated a securities class action lawsuit accusing the world’s largest computer maker of artificially inflating its stock prices in a bid to “camouflage” its declining market share and sales growth.
Biopure Corp. won’t have to pay a cent to the Securities and Exchange Commission to settle allegations of issuing false and misleading public statements, though its general counsel wasn’t as lucky.
Federal prosecutors will not file criminal charges against government-sponsored mortgage giant Freddie Mac, bringing an end to a three-year investigation into allegations of accounting fraud at the company.
Months after tossing out a private class action against Cell Therapeutics Inc., a federal judge has dismissed a derivative lawsuit accusing the Seattle biopharmaceutical’s directors of making false statements regarding the success of its lung cancer drug XYOTAX.
A mutual fund firm hit with a $5 million fine for allegedly paying brokers to recommend certain funds is fighting back by appealing the National Association of Securities Dealers arbitration panel ruling.
Unconvinced that Richard Grasso will receive a fair trial, lawyers for the former New York Stock Exchange chairman have requested that a new judge be appointed to oversee the upcoming civil case brought by New York State Attorney General Eliot Spitzer.
Hewlett-Packard Co. announced Tuesday that chairwoman Patricia Dunn will step down in January amid controversy over her ordering an investigation into news leaks by the technology giant’s board.
Three weeks after being granted $600,000 from a company insurance policy to pay mounting legal fees, two members of the founding family of Adelphia Communications Corp. have been handed a second infusion of cash to help cover defense costs related to their civil fraud case.
A former HealthSouth Corp. chief financial officer was sentenced to three years in prison Tuesday just as news hit that his former employer would pay $17 million in legal bills for Richard Scrushy, the company’s former chief executive officer.
Valeant Pharmaceuticals International announced Monday that the U.S. Securities and Exchange Commission was investigating possible share trading irregularities surrounding the release of trial data for the company’s hepatitis C drug, Viramidine.
The Securities and Exchange Commission has denied that politics played a role in the agency’s investigation into possible insider-trading at one of the country’s largest hedge funds.
A New York hedge fund has come up short in its fight to regain more than $2 million in damages and restitution after claiming Tripath Technology Inc. inflated the price of its common stock in 2004.
Personal computer maker Dell Inc. will delay the filing of its second quarter financials because of a Securities and Exchange Commission probe into its finances, the company said on Monday.
The Frankfurt state prosecutor has expanded its probe into the former head of Deutsche Bank, months after a German court ruled that the top official could be held liable for remarks he gave in a television interview regarding German television mogul Leo Kirch's media empire.