(CN) - The Royal Bank of Canada must pay $76 million to Rural/Metro Corp. shareholders for advocating the company's sale to private equity firm Warburg Pincus without disclosing the bank's own interest in the deal.
PASADENA, Calif. (CN) - The 9th Circuit remanded a securities fraud class action against Corinthian Colleges after the for-profit school reached an agreement with the U.S. Department of Education's to close its campuses by the end of the year.
(CN) - A shareholder cannot seek records regarding alleged insider trading at Monster Beverage Corp. to support a second derivative action against the company because her claims are time-barred, the Delaware Chancery Court ruled.
(CN) - First dibs on Fannie Mae and Freddie Mac's burgeoning profits in the wake of a $188 billion government bailout belong to the U.S. Treasury, not investors, a federal judge ruled.
MINNEAPOLIS (CN) - A hedge fund manager and his companies will not get a retrial in a securities fraud case springing from Thomas Petters' $3.7 billion Ponzi scheme, a federal judge ruled. But they will not suffer civil penalties, and the manager's wife was dismissed as a relief defendant.
(CN) - A $927 Million merger between Viasystems Group Inc. and TTM Technologies is based on big payouts for top execs and undervalues stock prices, shareholders say in federal court.
(CN) - Arrowhead Research Corp. misled investors about a drug designed to treat hepatitis B, causing stocks to plummet, shareholders say in a federal class action.
(CN) - Digital advertising company Millennial Media failed to disclose functional problems with its products and services that were causing customers to jump ship, shareholders claim in court.
(CN) - 21Vianet Group shares plunged after a damning research report exposed the firm as "a Ponzi scheme of acquistitions," shareholders claim in a federal class action.
DALLAS (CN) - The court-appointed receiver of R. Allen Stanford's $7 billion Ponzi scheme cannot pursue legal malpractice claims against Chadbourne & Parke because they are too late, the law firm claims in court.
DALLAS (CN) - A U.S. subsidiary of Spanish banking giant Banco Santander failed to disclose in its initial public offering improper practices in its subprime car lending business that caused a drop in its stock price, shareholders claim in a class action.
MANHATTAN (CN) - An activist hedge fund manager trying to save his $200 million firm took aim in a federal complaint against the very foundation of the Securities and Exchange Commission.
(CN) - A merger between Bolt Technology Corp. and Teledyne Technologies Inc. is unfair to Bolt shareholders, a class claims in federal court.
(CN) - A Hong Kong-based company is operating a Ponzi scheme through a U.S. shell corporation designed to rip off investors, the Securities and Exchange Commission claims in federal court.
(CN) - Merck's $16.7 billion offer for chemical company Sigma-Aldrich is a "bargain basement price," shareholders say, seeking an injunction against the proposed deal.
SANTA ANA, Calif. (CN) - The former CEO of an Orange County medical supply firm was federally charged Wednesday with passing inside-trading tips to his friend, former professional baseball player Doug DeCinces.
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.
(CN) - With Burger King moving its headquarters to Canada, U.S. officials announced new steps to discourage corporate inversions that avoid U.S. taxes.
(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.