Wednesday, April 23, 2014 10:27 PM PT
By ADAM KLASFELD 

     MANHATTAN (CN) - Lululemon should not face securities fraud claims over its failure to have a live model test yoga tights that proved too sheer on the mat, a federal judge ruled. 

By JACK BOUBOUSHIAN 

     (CN) - Securities regulators cannot compel issuers to "confess blood on [their] hands," and declare whether their products are "DRC conflict free" on their websites, the D.C. Circuit ruled. 

By DAVID LEE 

(CN) - Victims of a $7 billion Ponzi scheme failed to show that federal regulators dropped the ball in not catching R. Allen Stanford earlier, the 5th Circuit ruled. 

By ELIZABETH WARMERDAM 

     (CN) - In seven-year battle over trading technology, a federal judge improperly gutted the claim of a patent owned by International Securities Exchange, the Federal Circuit ruled. 

By ADAM KLASFELD 

     MANHATTAN (CN) - Goldman Sachs need not face a $63 million case alleging that it helped clients pull off a fraud that sank a cable company more than a decade ago, the 2nd Circuit ruled. 

By LORRAINE BAILEY 

     
     (CN) - Shareholders cannot sue BioMimetic Therapeutics for its "rosy assessments" of a bone therapy device's prospects for FDA approval because the company believed its own statements, the 6th Circuit ruled. 

By DAN MCCUE 

     MANHATTAN (CN) - The nation's pre-eminent stock exchanges cheated investors by letting high speed traders jump the line, manipulating the markets and diverting billions of dollars to themselves, the city of Providence, R.I., claims in a federal class action.

By PHILIP A. JANQUART 

     
     (CN) - A $1.6 billion merger between LIN Media and Media General was the result of a "flawed process" designed to favor Media General to the detriment of public stockholders, shareholders claim in a federal class action.

By PHILIP A. JANQUART 

     (CN) - Herbalife Ltd. is little more than a pyramid scheme reliant on "independent distributors" recruiting more distributors, shareholder claim in federal court.

     
     
     NEW ORLEANS (CN) - A BP "senior responder" to the Deepwater Horizon oil spill illegally dumped $1 million of company stock based on inside information about the catastrophe, the SEC claims in court. 

By LORRAINE BAILEY 

     (CN) - Aveo Pharmaceuticals and its board misrepresented the prospects of its cancer drug tivozanib, and the company's share price dropped more than 90 percent when the FDA unexpectedly declined to approve the drug, a shareholders claim in a derivative action.

By PHILIP A. JANQUART 

     (CN) - Sotheby's board of directors adopted a "poison pill" strategy to protect entrenched board members from being voted out, shareholders claim in federal court

     NEWARK (CN) - The SEC charged two doctors and a third person with inside trading on confidential information about the failure of a biopharmaceutical company's prize drug.

     WASHINGTON (CN) - Hewlett-Packard will pay $108 million to settle SEC and federal prosecutors' charges of bribing officials in three foreign countries to get "lucrative public contracts." 

By ADAM KLASFELD 

     MANHATTAN (CN) - Two Texas tycoons played a "global game of hopscotch" by hiding corporate assets in offshore accounts for 13 years, federal regulators told a jury.

By NICKEESHA SWABY 

     (CN) - The Financial Industry Regulatory Authority is failing to provide adequate background checks of current and potential stockbrokers through its BrokerCheck disclosure system, a report by the Public Investors Arbitration Bar Association says.  

By LORRAINE BAILEY 

     (CN) - The Federal Reserve Board will give banks two extra years to divest from collateralized loan obligations as required by the Volcker rule.

By PHILIP A. JANQUART 

     (CN) - A new regulatory tool proposed by the Financial Industry Regulatory Authority is "massive" and "invasive," according to the Securities Industry and Financial Markets Association.