WASHINGTON (CN) - Federal law does not preclude investors allegedly defrauded by R. Allen Stanford's $7 billion Ponzi scheme from attempting recovery via state class actions, the Supreme Court ruled Wednesday.
(CN) - Collateral estoppel bars a shareholder from litigating the same breach of fiduciary claims against oil and gas company Magnum Hunter that were dismissed in a Texas derivative action, a federal judge ruled.
MANHATTAN (CN) - Former New Jersey Gov. Jon Corzine must bear the brunt of another class action related to the "spectacular financial collapse" of MF Global, a federal judge ruled in a scathing, 79-page order.
(CN) - Keyuan Petrochemicals faces a shareholder derivative complaint accusing the company of issuing misleading audits and review opinions for its financial statements in 2010 and 2011.
(CN) - Actavis PLC's $25 billion offer to buy Manhatton-based Forest Laboratories Inc. is unfair and being "hastily" pushed through by company officers, investors claim in a class action.
DENVER (CN) - Western Union's board of directors recklessly abdicated their duties to prevent money laundering, drug trafficking and human trafficking, then lied about the costs of its fines, penalties and complying with consent orders -- all to prop up its stock price, an investment fund claims in a derivative complaint.
(CN) - Directors and senior executives of Intuitive Surgical Inc. misled shareholders about defects within the company's flagship product which has been linked to 70 deaths and numerous injuries, shareholders claim in court.
(CN) - Coty Inc. grabbed $1 billion from investors by lying about its financial status in a public registration statement, shareholders claim in a federal class action.
(CN) - Montage Technology fabricated profits by reporting sales to a shell distributor, inflating revenues by 50 to 75 percent, and causing major shareholder losses when the fraud was uncovered, a class of shareholders claims in federal court.
(CN) - Mutual Wealth is "an emerging, fraudulent pyramid scheme masquerading as an international investment firm," the Securities and Exchange Commission claims in court.
WASHINGTON (CN) - Arizona-based Clean Energy Capital, an investment adviser, and its founder-president misappropriated more than $3 million while committing a laundry list of securities violations - and there's a lot of dirty laundry, the SEC claims in court.
(CN) - Merge Healthcare's lack of internal controls allowed an employee to falsify contracts worth $15.2 million, and caused the company's stock to fall more than 50 percent, a derivative suit claims.
(CN) - Fairway Group Holding Corp. conned investors into buying stock shares by painting a rosy revenue picture for its retail stores, shareholders claim in federal court.
AUSTIN, Texas (CN) - A Wall Street investment banker made nearly $1 million by illegal inside trading in a former girlfriend's account, some of which he used to pay child support, the SEC claims in court.
(CN) - Shareholders filed a class action to put tht brakes on an acquisition deal for ArthroCare Corp. by medical technology company Smith & Nephew Inc.
LOS ANGELES (CN) - The SEC obtained an emergency order freezing accounts "holding money stolen from U.S. investors by Fleet Mutual Wealth Limited and MWF Financial - collectively known as Mutual Wealth," the agency said Wednesday.
(CN) - Securities and Exchange Commission employees make significantly above-average returns by selling stock ahead of a drop in price, a new study by a Emory University Professor and a Georgia State University Ph.D. student suggests.
WASHINGTON (CN) - Two Hong Kong firms will pay $11 million to settle inside-trading charges, the SEC said.
(CN) - A former Bank of America executive pleaded guilty Monday to conspiring to defraud investors in municipal bond derivatives, federal prosecutors said.
(CN) - An upcoming decision by the Supreme Court has the potential to overturn 25 years of securities precedent, says Nicholas Even, Chair of Haynes and Boone's securities and shareholder litigation practice.
MANHATTAN (CN) - A federal jury convicted former S.A.C. Capital executive Matthew Martoma on all three counts of securities fraud Thursday in connection to a $276 million insider-trading scheme involving an Alzheimer's drug.
(CN) - Plaintiffs filed 166 new federal class action securities cases in 2013, according to an annual report compiled by Cornerstone Research and the Stanford Law School Securities Action Clearinghouse.
(CN) - The North American Securities Administrators Association claims the Securities and Exchange Commission regulation A+ proposal, which preempts state regulators' authority, will prevent it from doing its job.