(CN) - Already mired in multiple lawsuits accusing its credit-rating subsidiary, Standard & Poor's, of issuing fraudulently rosy ratings of mortgage-backed securities, McGraw-Hill has a newly emboldened shareholder action to worry about.
CHICAGO (CN) - The 7th Circuit affirmed the convictions of three men who turned a respected financial firm into a Ponzi scheme, using $200 million of investors' money to finance their lavish lifestyle.
MANHATTAN (CN) - PricewaterhouseCoopers must defend itself against a $1 billion lawsuit that claims its "improper accounting advice" caused former New Jersey Gov. Jon Corzine's MF Global Holdings to go belly up in 2001, a federal judge ruled.
(CN) - A federal judge awarded an investment firm a default judgment in Delaware against China MediaExpress, a Chinese advertising company accused of grossly exaggerating its value by more than $50 million.
(CN) - The Ontario Court of Appeal ruled that Canadian residents who purchased BP PLC stock on the New York Stock Exchange cannot sue the company in Canada after the disastrous 2010 Gulf of Mexico oil spill.
(CN) - A federal judge must reconsider the certification of a class against Regions Financial in a securities fraud case in light of the Supreme Court's recent ruling in Halliburton II, the 11th Circuit ruled.
(CN) -Shareholders of Kinder Morgan Energy Partners claim company directors imposed a hefty tax burden on them after entering into a deal to sell the company to Kinder Morgan Inc. for $42 billion.
(CN) - DreamWorks Animation SKG Inc. withheld losses from its film "Turbo," causing a firestorm of lawsuits and a Securities and Exchange Commission investigation, a shareholder derivative says.
(CN) - Rocket Fuel Inc. execs dumped $175 million in personal stock as questions surrounding the company's exposure to electronic ad fraud began to surface, stockholders say in federal court.
(CN) - Salix Pharmaceuticals shareholders want to halt the company's plan to merge with Cosmo Tech, a subsidiary of Cosmo Pharmaceuticals, claiming in a class action that the price for the firm is far too low.
(CN) - Shareholders sued Apple and its board after a federal judge rejected a $325 million settlement offer, in an opinion that shined a spotlight on Steve Jobs' central role in the alleged "gentlemen's agreements" between tech companies that served to keep tech industry wages low.
(CN) - Bally Technologies investors are challenging an acquisition of the company by smaller competitor Scientific Games Corp. for $3.3 billion in court.
MANHATTAN (CN) - A former manager sued Moody's in a qui tam complaint, claiming the ratings service cost the federal government billions of dollars by falsely evaluating mortgage-backed securities and collateralized debt obligations before the financial crisis.
(CN) - An $8.5 billion merger between Family Dollar Stores Inc. and Dollar Tree Inc. resulted from an unfair process giving shareholders an unfair price, they claim in a class action.
(CN) - The U.S. Securities and Exchange Commission charged a former bank executive and a long-time friend with insider trading in advance of the Eastern Bank Corp.'s purchase of another financial institution in 2010.
(CN) - Shareholders of Journal Communications, the publisher of the Milwaukee Journal Sentinel, want to halt the company's proposed merger with media giant E.W. Scripps Company.
(CN) - Trulia Inc. shareholders are getting short-changed in a deal with Zillow Inc. where both companies aer set to become subsidiaries of a parent corporation, they say in a class action.
(CN) - Penn West Petroleum Ltd., one of Canada's largest oil and gas exploration firms, is facing a $400 million class action alleging senior executives boosted the company's stock price with misleading financial statements.
MANHATTAN (CN) - Neither the philanthropy, devoted fatherhood or previously clean criminal record of former S.A.C. Capital executive Mathew Martoma dissuaded a federal judge on Monday from sentencing him to 9 years in prison - above prosecutors' expectations - for a $276 million inside-trading scheme involving an Alzheimer's drug.
WASHINGTON (CN) - Bank of America will pay nearly $17 billion to settle federal charges involving its sale of mortgage-backed securities before the 2008 financial crisis, the Department of Justice and SEC announced.
WASHINGTON (CN) - The SEC accused Kansas of securities fraud, claiming the state failed to disclose in bond offerings that its pension system was "significantly underfunded" and the unfunded pension liabilities created a risk for investors.
(CN) - U.S. taxpayers' share of the former finance arm of General Motors has declined from 74 percent in 2010 to 16 percent today, the Government Accountability Office said in a report on the Troubled Asset Relief Program, amid signs that the Great Recession that began in 2008 is starting to ease.
(CN) - AIG has reportedly agreed to pay $960 million to resolve a shareholder lawsuit stemming from the collapse of the company's value in the wake of its bailout by the federal government in 2008.
WASHINGTON (CN) - Former New Mexico Gov. Toney Anaya is one of four people the SEC charged Wednesday with concealing from investors that Natural Blue Resources, a microcap company, was run by "two lawbreakers."
(CN) - The Securities and Exchange Commission adopted new rules to give investors detailed information about the loans underlying asset-backed securities.
(CN) - Nationally Recognized Statistical Rating Organizations (NRSROs) will have to follow new requirements for enhanced governance and accountability under new rules adopted by the Securities and Exchange Commission.