PASADENA, Calif. (CN) - The Ninth Circuit ruled that an investment group sufficiently pleaded its federal fraud case claiming it was scammed while trying to purchase pre-initial public offering shares of Facebook, reversing a federal judge's dismissal.
(CN) - The Delaware Chancery Court tossed out a shareholder lawsuit over a $1.2 billion buyout of medical tech company Volcano Corp., rejecting plaintiffs' claims that they were left uninformed about the closeout of the company's stock option deal with Goldman Sachs.
(CN) - A federal judge upheld claims against Virtus Investment Partners for telling investors its AlphaSector funds' performance was based on real returns - rather than merely hypothetical back-testing.
(CN) - The D.C. Circuit affirmed the Securities and Exchange Commission's decision not to restrict investment in small businesses under JOBS Act exemptions to investors with a certain amount of wealth or sophistication.
(CN) - Former Qwest CEO Joseph Nacchio cannot claim an $18 million credit for the taxes he paid on $44 million in profits earned through insider trading, the U.S. Court of Appeals for the Federal Circuit ruled.
(CN) - Qlik Technologies caved to an activist hedge fund's threats when it agreed to a $3 billion acquisition by private equity giant Thoma Bravo, a class of sharholders claims.
(CN) - Before voting to approve a $1.1 billion acquisition by Rovi Corp., TiVo investors want to know why two of the company's seven board members voted against it.
(CN) - Investors claim in court that Land O'Lake's $17 million bid for biotech firm Ceres will benefit Ceres executives at the expense of shareholders.
(CN) - Lexmark International hid information about a potential buyout that could result in hefty monetary rewards for the company's CEO, investors claim in court.
(CN) - Investors were forced to pay artificial prices for financial derivative transactions based on SIBOR and SOR benchmarks due to big banks' manipulation of the market, they say in a federal class action.
(CN) - An ERISA action against Oracle Corp. blasts company executives for continuing to offer Oracle stock to retirement plan participants before improper accounting practices came to light and hammered the firm's stock price.
(CN) - Shareholders joined the fray in the struggle for Viacom, claiming that both incumbent and ousted directors appeased Sumner Redstone to maintain their lucrative positions, even as he descended into dementia and drooled at the table.
(CN) - Billionaire investor Nicholas Schorsch, his company officers and financial auditor conspired to cook financial statements in the wake of several high-profile company acquisitions that netted them "hundreds of millions of dollars in fees," shareholders claim in a derivative action.
(CN) - In a shift from longstanding policy, the Financial Industry Regulatory Authority wants to expand its trade database to include information on Treasury bond transactions in the multitrillion-dollar secondary market.
(CN) - The Securities Industry and Financial Markets Association is voicing support of the controversial Trans-Pacific Partnership and its new policy ensuring the flow of cross-border data and information, though the agreement continues to face strong opposition.
(CN) - With the implementation of new crowdfunding rules this week, the head of the Securities and Exchange Commission told an international financial regulators' conference that improving startup companies' access to capital must be balanced with strong investor protections given the high failure rate of start-ups.
(CN) - Global stock markets lost more than $2 trillion in value on Friday after Briton's voted to leave the European Union, setting the stage for an uncertain and volatile week ahead in politics and finance.
BROOKLYN, N.Y. (CN) - A fresh count in the indictment charging Martin Shkreli with an $11 million securities fraud could not wipe the smirk from his mug as the so-called pharma bro entered a new not-guilty plea.
DALLAS (CN) - Texas Attorney General Ken Paxton professed his innocence of felony securities charges, in his most detailed comments yet on criminal and civil cases that he blames on President Barack Obama and political opponents.