Thursday, May 25, 2017 6:33 PM PT
By LORRAINE BAILEY 

     (CN) - A federal judge approved class certification in an investor suit claiming Virtus Investment Partners AlphaSector funds' stellar performance record was based on hypothetical trading results, not real returns. 

By IZZY KAPNICK 

     (CN) - The Delaware Chancery Court dismissed a shareholder lawsuit against directors of The Williams Companies over an attempt to stave off a takeover by fellow pipeline giant Energy Transfer Equity. 

By LORRAINE BAILEY 

     (CN) - No misrepresentations marred the $335 million acquisition of software maker Cyan Inc. by Ciena Corp., the Delaware Chancery Court ruled. 

By LORRAINE BAILEY 

     (CN) - Massey Energy shareholders lost their right to pursue derivative claims against the coal mining company for its flagrant and knowing safety violations leading to the deaths of 29 miners because they approved the company's sale to Alpha Natural Resources, a Delaware court ruled. 

By LORRAINE BAILEY 

     (CN) - The Second Circuit dismissed a Cayman Island investor's derivative suit against a shipping company because one board member's personal interest in an acquisition deal did not unduly influence the entire board. 

By LORRAINE BAILEY 

     (CN) - Lehman Brothers creditors are entitled to recover from the collapsed financial giant's bankruptcy estate ahead of former Lehman employees in possession of now-worthless restricted stock units, the Second Circuit ruled. 

By LORRAINE BAILEY 

     (CN) - The Fifth Circuit affirmed securities fraud convictions against two life insurance executives for hiding errors in Life Partners' premium calculations, but said the multi-million dollar penalties against them must be recalculated. 

By LORRAINE BAILEY 

     (CN) - The Delaware Chancery Court rejected a shareholder challenge to the $146 million merger of Coeur Mining and Paramount Gold and Silver in a dispute over an allegedly excessive termination fee. 

By LORRAINE BAILEY 

     (CN) - A federal court cannot reverse its decision granting a convicted fraudster a $1 million restitution credit on his $4 million bill, eight years after the fact, the Second Circuit ruled. 

By LORRAINE BAILEY 

     (CN) - Saba Software shareholders have a viable claim that the company's board accepted a measly $9-per-share acquisition offer in order to cash in their own stock options, the Delaware Chancery Court ruled. 

By NICKEESHA SWABY 

     
     (CN) - Intra-Cellular Therapies Inc. shareholders claim in court that the company's stock price was artificially propped up until studies revealed the company's schizophrenia drug showed toxicity in animals.

By NICKEESHA SWABY 

     (CN) - General Motors Company unilaterally changed the terms of a warrant agreement, blindsiding holders when the company announced that the warrants were set to expire just days after being delisted on the New York Stock Exchange, a class action alleges.

By NICKEESHA SWABY 

     (CN) -Senior officers of Live Ventures Inc. used misleading promotional campaigns to tout the company's stock causing it to jump 139% in six weeks, investors claim in a class action lawsuit.

By NICKEESHA SWABY 

      (CN) - Touting itself as the first and only mixed martial arts company on the NASDAQ, Alliance MMA Inc. will battle it out with investors who claim Alliance's stock price tanked after the company's top officers admitted certain 2016 financial statements were inaccurate.

By NICKEESHA SWABY 

     (CN) - Investors in DigitalGlobe Inc. claim in court that the company omitted pertinent information in SEC filings about a $2.4 billion buyout deal with MacDonald, Dettwiler and Associates Ltd.

By NICKEESHA SWABY 

     (CN) - Ocwen Financial Corp.'s legal woes continue to mount with a securities class action following on the heels of a lawsuit brought by the U.S. Consumer Financial Protection Bureau.

By NICKEESHA SWABY 

     (CN) - After winning $171 million in damages against El Paso GP Company LLC, an award reversed when the company was bought by Kinder Morgan, an investor is now challenging that acquisition in court.

By LORRAINE BAILEY 

     (CN) - Real estate investment trust American Realty Capital Properties knowingly overstated its financial performance in order to line its executives' pockets with hundreds of millions in fees and commissions, investors claim in court.

By NICKEESHA SWABY 

     (CN) - Shareholders claim in court that semiconductor manufacturer Exar Corp.'s looming acquisition by MaxLinear Inc. for $700 million is lacking considering the company's recent performance.

By NICKEESHA SWABY 

     (CN) - Investors are suing fertility company OvaScience Inc. claiming they were misled about the effectiveness of the company's only marketable drug before its trial methods came under fire from the Food and Drug Administration.

By NICKEESHA SWABY 

     (CN) - Investors claim in a class action that mattress maker Tempur Sealy lied about its current and future financial prospects while renegotiating a supply agreement with its largest customer.

By IZZY KAPNICK 

     (CN) - The Financial Industry Regulatory Authority has moved forward with proposals aimed at tightening regulation of brokers with records of professional misconduct.

By IZZY KAPNICK 

     (CN) - Veteran attorney Jay Clayton was sworn into office as the Chairman of the Securities and Exchange Commission on the heels of a contentious confirmation process marked by partisan dissent not typically seen in the approval of SEC commissioners.

By TISH KRAFT 

     (CN) - The U.S. Securities and Exchange Commission announced it had amended rules to increase how much money companies can raise through crowdfunding, to adjust for inflation. 

By IZZY KAPNICK 

     (CN) - The Securities and Exchange Commission would "benefit enormously" if at least one commissioner is required to have experience as a state regulator, according to North American Securities Administrators' Association policy director Michael Canning.

By IZZY KAPNICK 

     (CN) - The North American Securities Administrators Association wants Congress to fund regional investor-protection programs and require at least one member of the Securities and Exchange Commission to have experience as a state securities regulator.

By DON DEBENEDICTIS 

     SANTA ANA, Calif. (CN) - A federal jury convicted former Orioles and Angels third baseman Doug DeCinces of 14 counts of insider trading for raking in a $1.3-million profit based on illegal tips.

By CAMERON LANGFORD 

     HOUSTON (CN) - Texas Attorney General Ken Paxton asked a district clerk this week to assign a new judge to his criminal case to replace the presiding judge who declined to recuse himself, arguing a replacement is required by law.

By BARBARA LEONARD 

     MANHATTAN - A federal jury convicted legendary sports gambler Billy Walters on April 7 of an insider-trading scheme with the CEO of Dean Foods that netted him $43 million.

By DAVID LEE 

     McKINNEY, Texas (CN) - A Texas judge delayed the May 1 criminal trial of Texas Attorney General Ken Paxton and agreed to move it out of Collin County, as prosecutors requested, claiming Paxton's lawyers have tainted the local jury pool.

Privacy Policy       Terms of Use