(CN) - The Royal Bank of Canada must pay $76 million to Rural/Metro Corp. shareholders for advocating the company's sale to private equity firm Warburg Pincus without disclosing the bank's own interest in the deal.
PASADENA, Calif. (CN) - The 9th Circuit remanded a securities fraud class action against Corinthian Colleges after the for-profit school reached an agreement with the U.S. Department of Education's to close its campuses by the end of the year.
(CN) - A shareholder cannot seek records regarding alleged insider trading at Monster Beverage Corp. to support a second derivative action against the company because her claims are time-barred, the Delaware Chancery Court ruled.
(CN) - First dibs on Fannie Mae and Freddie Mac's burgeoning profits in the wake of a $188 billion government bailout belong to the U.S. Treasury, not investors, a federal judge ruled.
(CN) - Bankrate knowingly inflated revenues in its financial statements for the past three years, prompting the Securities and Exchange Commission to investigate, and the company's share price to fall over 10 percent after the news broke, a shareholders claim in a class action.
(CN) - Facing the expiration of a critical patent, PDL Biopharma intentionally misled the public about its financial status, artificially inflating stock prices, shareholders claim in court.
(CN) - A $1.8 billion merger between Gentiva Health Services and Kindred Health Care shortchanges shareholders, a class claims in federal court.
(CN) - A $927 Million merger between Viasystems Group Inc. and TTM Technologies is based on big payouts for top execs and undervalues stock prices, shareholders say in federal court.
(CN) - Arrowhead Research Corp. misled investors about a drug designed to treat hepatitis B, causing stocks to plummet, shareholders say in a federal class action.
(CN) - Digital advertising company Millennial Media failed to disclose functional problems with its products and services that were causing customers to jump ship, shareholders claim in court.
(CN) - 21Vianet Group shares plunged after a damning research report exposed the firm as "a Ponzi scheme of acquistitions," shareholders claim in a federal class action.
DALLAS (CN) - The court-appointed receiver of R. Allen Stanford's $7 billion Ponzi scheme cannot pursue legal malpractice claims against Chadbourne & Parke because they are too late, the law firm claims in court.
DALLAS (CN) - A U.S. subsidiary of Spanish banking giant Banco Santander failed to disclose in its initial public offering improper practices in its subprime car lending business that caused a drop in its stock price, shareholders claim in a class action.
MANHATTAN (CN) - An activist hedge fund manager trying to save his $200 million firm took aim in a federal complaint against the very foundation of the Securities and Exchange Commission.
(CN) - A merger between Bolt Technology Corp. and Teledyne Technologies Inc. is unfair to Bolt shareholders, a class claims in federal court.
SANTA ANA, Calif. (CN) - The former CEO of an Orange County medical supply firm was federally charged Wednesday with passing inside-trading tips to his friend, former professional baseball player Doug DeCinces.
MANHATTAN (CN) - Neither the philanthropy, devoted fatherhood or previously clean criminal record of former S.A.C. Capital executive Mathew Martoma dissuaded a federal judge on Monday from sentencing him to 9 years in prison - above prosecutors' expectations - for a $276 million inside-trading scheme involving an Alzheimer's drug.
WASHINGTON (CN) - Bank of America will pay nearly $17 billion to settle federal charges involving its sale of mortgage-backed securities before the 2008 financial crisis, the Department of Justice and SEC announced.
(CN) - With Burger King moving its headquarters to Canada, U.S. officials announced new steps to discourage corporate inversions that avoid U.S. taxes.
(CN) - The Securities and Exchange Commission adopted new rules to give investors detailed information about the loans underlying asset-backed securities.
(CN) - Nationally Recognized Statistical Rating Organizations (NRSROs) will have to follow new requirements for enhanced governance and accountability under new rules adopted by the Securities and Exchange Commission.