January 9, 2013
The U.S. Supreme Court on Tuesday appeared poised to curtail the power of the top federal securities regulator to seek civil penalties after exceeding the usual time limit for fraud investigations. In oral argument, justices from across the ideological spectrum …
September 21, 2012
Facebook Inc. and most of its adversaries in a raft of lawsuits over its $16 billion initial public offering can agree on at least one thing: that the cases should be heard in a New York court. At a hearing …
May 23, 2012
The U.S. Securities and Exchange Commission was dealt a setback in its cases tied to the financial collapse when a federal judge dismissed large parts of its case against former executives at failed mortgage lender IndyMac Bancorp. In a verbal …
November 1, 2011
A lawsuit against Charles Schwab Corp. over auction-rate securities that was filed by former New York Attorney General Andrew Cuomo was thrown out by a state court judge. The 2009 lawsuit accused the San Francisco-based discount brokerage of fraud in …
May 26, 2011
Corporate whistleblowers could score multi-million-dollar payouts for reporting financial wrongdoing under a new program approved by U.S. securities regulators on Wednesday. A divided U.S. Securities and Exchange Commission voted 3-2 to finalize the measure that has grown into one of …
February 22, 2011
Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG, accusing the banks of causing losses by hiding the risks on more than $385 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home and auto insurer, has …
February 14, 2011
Lawyers are pushing for a $4.5 million fee for their work for investors challenging a corporate merger. The recovery for shareholders? Probably zero. The requested fee in a lawsuit challenging Unilever NV’s $3.7 billion takeover of Alberto Culver Co. is …
February 8, 2011
When companies are looking at bad earnings news, a new study from the University of Iowa suggests it’s best for executives to remember what they learned as kids. “If a child does something wrong and tells his mother about it, …
January 21, 2011
The number of securities lawsuits filed in 2010 edged above the record number of suits filed in 2009, despite an easing of litigation related to the credit crisis. The number of new suits related to the recent credit crisis fell …