(CN) - The Securities and Exchange Commission cannot impose penalties authorized by the Dodd-Frank Act on a broker-dealer whose misconduct occurred prior to the law's enactment, the D.C. Circuit ruled.
(CN) - Winning an appeal in the Eighth Circuit, a group of investment and retirement funds has another chance to pursue claims that Medtronic paid off researchers in a scheme to manipulate clinical study results for its Infuse bone-regeneration product.
DENVER (CN) - The Securities and Exchange Commission illegally appoints administrative law judges in violation of the Constitution's Appointments Clause to render decisions and impose penalties, the 10th Circuit ruled.
(CN) - A D.C. federal judge upheld the Securities and Exchange Commission's implementation of credit risk retention rules mandated by the Dodd-Frank Act that require securitizers to keep a five percent interest in the securities they issue.
(CN) - The Supreme Court of Delaware upheld the Court of Chancery's dismissal of a complaint brought by the Employees Retirement System of the City of St. Louis related to the purchase of pipeline assets from TransCanada Corporation.
(CN) - Investors in biopharmaceutical company Inotek Pharmaceuticals Corp. claim in court that they were misled by the company's officers regarding the progress of its flagship glaucoma drug to prop-up Inotek's stock price.
(CN) - Harman International investors are suing to block Samsung Electronics' acquisition of automotive electronics company, claiming the $8 billion deal undervalues the company while other potential buyers were locked out.
(CN) - Natural product maker The Hain Celestial Group Inc. saw a one day downturn of almost 30 percent in market value due to incorrect accounting and inadequate internal controls, investors claim in court.
(CN) - A Florida company bilked foreign investors out of over $6 million with promises that their investments would qualify them for a U.S. visa and eventually a green card, federal regulators claim in court.
(CN) - PayPal Holdings Inc. and eBay Inc. are embroiled in a class action filed by investors who claim they were sold shares at rigged prices in connection with the safety of mobile payment app Venmo.
(CN) - Investors in rent-to-own company Rent-A-Center Inc. claim in court that a faulty point-of-sale system that led to a cover-up by the company's top executives caused a 30 percent drop in the company's stock price in one trading day.
(CN) - A shareholder lawsuit alleges that Wendy's top brass flagrantly mismanaged the fast food chain's cyber-security protocols, leading to a large-scale theft of customer debit and credit card information.
(CN) - Sunpower shareholders hit the company's management with a derivative action, claiming the board of directors should be held responsible for the company's accounting debacle.
(CN) - SEC Chair Mary Jo White gave her final speech on January 17, days before Trump takes over the White House, emphasizing the need to defend the SEC's independence against unthinking partisanship and praising the agency's post-2008 reforms, many of which face an uncertain future under the Trump administration.
After a year when the Financial Industry Regulatory Authority levied record fines, the agency's new president and CEO says he will strive to provide greater regulatory transparency to member firms.
(CN) - The House of Representatives passed the Creating Financial Prosperity for Businesses and Investors Act aimed at giving small business owners, entrepreneurs, and investors a boost in the new year by increasing economy and capital growth in the U.S.
WASHINGTON (CN) - The Securities and Exchange Commission approved a plan to create a comprehensive database known as the consolidated audit trail (CAT).
(CN) - A trio of state Republican organizations have asked the 11th Circuit to overturn a Securities and Exchange Commission rule that places tight limits on political contributions from financial advisors and others in the industry.
BOSTON (CN) - State Street Corp. has agreed to pay $64.6 million to settle charges that it defrauded customers by secretly tacking unwarranted commissions onto multibillion securities trades.
(CN) - Credit Suisse Securities agreed to pay a $16.5 million fine to settle a U.S. regulatory action for allowing illegal penny-stock trading in client accounts.
(CN) - Mary Joe White announced plans to step down as chair of the Securities and Exchange Commission at the end of Obama's term, which will allow President-elect Trump to choose a successor.