MANHATTAN (CN) - In a rare ruling from the bench, the 2nd Circuit unbound Argentina's economy from an injunction that prevented the republic from paying a $4.8 billion settlement in sovereign-debt relief.
(CN) - A federal judge ruled that personal notes written by attorneys for the Securities and Exchange Commission about the creation of the Empire State Realty Trust are subject to release under the Freedom of Information Act.
(CN) - Country Style Cooking Restaurant, a Chinese fast food chain, plans to go private in a deal that will cheat minority shareholders of the fair value of their shares, a pair of investors claim in court.
(CN) - Shareholders of PJT Partners claim in a class action that the elite investment bank's lax fraud-prevention measures made it possible for managing partner Andrew Caspersen to hatch an elaborate investment scheme.
(CN) - A $1.36 billion merger between Fresh Market and Apollo Global Management that would take the grocery chain private ignores stockholder interests while lining executives' pockets, shareholders claim in a class action.
(CN) - Cascade Microtech investors claim in court that company directors let them down by agreeing to a buyout with FormFactor Inc. for $352 million by failing to give the sales process its due diligence.
SHERMAN, Texas (CN) - The U.S. Securities and Exchange Commission sued embattled Texas Attorney General Ken Paxton on securities fraud claims related to a felony criminal case that could send him to prison for life if convicted.
(CN) - Dow Chemical's board of directors wasted corporate assets by fighting price-fixing allegations for 10 years before agreeing to a $835 million settlement, a shareholder claims in court.
(CN) - TransCanada's $13 billion acquisition of Columbia Pipeline Group undervalues the company and unfairly benefits its largest shareholder, JPMorgan Chase, a shareholder class action claims.
(CN) - LifeLock Inc. investors claim in court that the company "floods" credit bureaus with fraud alerts that degrade its effectiveness when it comes to protecting customers from identity theft.
(CN) - The North American Securities Administrators Association has "serious concerns" about new legislative proposals that could limit the authority of the Securities and Exchange Commission and open up "safe harbors" that could be used by fraudsters.
(CN) - The Securities Industry and Financial Markets Association has come out swinging against rules proposed by the SEC that the lobby group claims could "create perverse incentives for portfolio managers to invest in riskier, less liquid instruments and would restrict regulated funds from engaging in risk management and portfolio management activity that otherwise may be beneficial for investors."
DALLAS (CN) - Texas Attorney General Ken Paxton spoke at length for the first time about the felony securities fraud charges against him and implied that his bank accounts have been frozen, prompting his attorney to deny that Paxton ever had been audited or investigated by the IRS.
MANHATTAN (CN) - Bernard Madoff's massive Ponzi scheme has nothing to do with the civil rights movement, and the 2nd Circuit must consider now whether a prosecutor's conflation of the two issues helps boost five of the fraudster's former employees out of prison.
(CN) - Despite a backlash from the securities industry, a financial researcher is standing by his broker-misconduct study and its claim that a large portion of U.S. financial advisers have a history of professional impropriety.