Wednesday, August 24, 2016 6:02 PM PT
By LORRAINE BAILEY 

     (CN) - The Sixth Circuit revived a bankruptcy trustee's attempt to claw back $17 million from a bank that allegedly assisted Ponzi schemers steal $215 million of investors' money. 

By LORRAINE BAILEY 

     (CN) - A federal judge awarded counsel 12.5 percent of the $4.9 million settlement against Smith Barney in a securities class action, less than half of the requested figure. 

By LORRAINE BAILEY 

     
     (CN) - The Federal Circuit sided with the government for shredding an executive's golden parachute when it took over Freddie Mac as part of the 2008 bailout. 

By MIKE HEUER 

     
     LAS VEGAS (CN) - A federal judge ordered the former CEO of a Montreal tech firm to pay $8.9 million for RICO violations in an insider-trading scheme. 

By IZZY KAPNICK 

     (CN) - Vacating a district court dismissal, the Ninth Circuit resurrected a lawsuit claiming credit union giant WesCorp was driven into insolvency by investment bankers who roped it into buying toxic mortgage-backed securities. 

By LORRAINE BAILEY 

     (CN) - Smith Kartzenstein & Jenkins and Purcell Julie & Lefkowitz will serve as co-lead counsel in a shareholder derivative suit accusing Investors Bank's 12 directors of giving themselves "grossly excessive" pay packages. 

By LORRAINE BAILEY 

     
     (CN) - The D.C. Circuit upheld a lifetime ban for Ray Lucia, host of a nationally syndicated financial talk radio show, from the investment industry for misleading investors with his "Buckets of Money" seminars. 

By LORRAINE BAILEY 

     (CN) - A man who bilked investors of more than $41 million, using some to fund a Ponzi scheme and the rest to finance his lavish lifestyle, must serve a 10-year sentence, the Third Circuit ruled. 

By KEVIN LESSMILLER 

     NASHVILLE (CN) - A class claims in court that Corrections Corporation of America didn't tell investors that the federal government was unlikely to renew its private prisons contract, causing stock to drop 39 percent when the news broke.

By LORRAINE BAILEY 

     
     (CN) - U.S. regulators cracked the whip on Deutsche Bank over a five-day systems outage, saying the beleaguered German lender is supposed to be prepared for such disasters. 

By ROSE BOUBOUSHIAN 

     (CN) - A "stock prospector" must face the Security and Exchange Commission's claims that he touted fracking in the North Dakota region for a shady penny stock firm, a federal judge ruled. 

By LORRAINE BAILEY 

     (CN) - Johnson Controls' planned tax inversion via its acquisition of the Irish-based Tyco International will leave U.S. shareholders with a huge tax bill and reduced equity in the new company, investors claim in a federal class action.

By NICKEESHA SWABY 

     (CN) - A pair of investment firms are accusing a group of Chinese nationals of luring them into a reverse merger and using their money to start a competing company in China.

By PHILIP A. JANQUART 

     . (CN) - Bristol-Myer Squibb illegally bribed Chinese officials to increase business and to line their own pockets, a shareholder claims in New York Supreme Court.

By EVA FEDDERLY 

     (CN) - Financial brokerage Global Transition Solutions and its executives bilked customers out of $13 million over an eight-year period by imposing hidden fees on transactions, the Securities and Exchange Commission claims in a lawsuit.

By JOSH RUSSELL 

     MANHATTAN (CN) -Kleenex parent company Kimberly-Clark Corp. aggressively marketed defective medical gowns during the 2014 U.S. Ebola crisis, a shareholder claims in court.

By LORRAINE BAILEY 

     
     (CN) - Investors lost everything after software company Code Rebel misrepresented its financial condition in its 2015 IPO and went bankrupt a year later, a class action claims.

By LORRAINE BAILEY 

     (CN) - Keryx Pharmaceuticals misled investors with its first quarter report, failing to disclose that it was running out of its kidney drug Auryxia while production problems would cause a supply gap, a shareholder class action says.

By IZZY KAPNICK 

     (CN) - A pension fund stockholder of Starz Networks sued the company over its pending merger, claiming billionaire cable pioneer John Malone orchestrated the deal without regard for common shareholders' interests.

By DAN MCCUE 

     DALLAS (CN) - A new rule imposing fiduciary duties on financial advisers closes loopholes for conflicts of interest and will save retirement investors up to $404 billion in the next 20 years, the Department of Labor told a federal judge. 

By IZZY KAPNICK 

     (CN) - In a shift from longstanding policy, the Financial Industry Regulatory Authority wants to expand its trade database to include information on Treasury bond transactions in the multitrillion-dollar secondary market. 

By NICKEESHA SWABY 

     (CN) - The Securities Industry and Financial Markets Association is voicing support of the controversial Trans-Pacific Partnership and its new policy ensuring the flow of cross-border data and information, though the agreement continues to face strong opposition.

By IZZY KAPNICK 

     
     (CN) - The Securities and Exchange Commission has begun seeking comments on regulations on incentive-based compensation for senior executives at large financial firms. 

     BROOKLYN, N.Y. (CN) - A decade after his indictment, an Israeli extradited from Namibia pleaded guilty Wednesday in New York to securities fraud charges.

By LORRAINE BAILEY 

     (CN) - The Securities and Exchange Commission is bringing charges against a hedge fund manager for allegedly making deals with terminally ill patients that netted him huge payouts when they died. 

     
     OAKLAND, Calif. (CN) - A bankrupt Bay Area man pleaded guilty to wire fraud Thursday, admitting he ran a $45 million Ponzi scam by selling "phantom wine" he'd never bought - and spent $900,000 of it on women he met online.

By DAN MCCUE 

     (CN) - Global stock markets lost more than $2 trillion in value on Friday after Briton's voted to leave the European Union, setting the stage for an uncertain and volatile week ahead in politics and finance.