MANHATTAN (CN) - A JPMorgan Chase shareholder jumped the gun in filing a derivative lawsuit against CEO Jamie Dimon in connection with "six recent, high-profile settlements with government agencies and private litigants arising out of allegations of egregious misconduct," a federal judge ruled.
MANHATTAN (CN) - PricewaterhouseCoopers and Citco lack standing to contest the terms of a $50.3 million settlement that an investor class reached with a feeder fund linked to Bernie Madoff's enormous Ponzi scheme, the 2nd Circuit ruled.
(CN) - Bancorp Inc. failed to disclose that the bank was under-reserved for potential loan losses and that it's practices violated the Bank Secrecy Act, shareholders claim in a class action.
(CN) - Endocyte Inc. failed to inform investors it used a less stringent set of criteria while evaluating a new cancer drug, causing stocks to plummet when the news was revealed, shareholders claim in court.
(CN) - Liquidity Services Inc. officers inflated stock prices before selling their shares and then disclosed company troubles, causing stocks to plummet, shareholders claim in a class action.
(CN) - To thwart a hostile takeover attempt by activist shareholder Carl Icahn, Lions Gate Entertainment issued 16 million new shares without investor approval, resulting in an SEC fine and causing the studio's share price to fall more than 9 percent, shareholders claim in a class action.
(CN) - PowerSecure shares fell more than 62 percent when the company disclosed rising operational costs and decreasing profits, problems that it allegedly hid from investors ahead of a $42 million public offering, a shareholder class action claims.
(CN) - Kroger's $280 million offer for Vitacost does not account for the vitamin company's growth potential and falls below analysts' target price, Vitacost shareholders claim in a class action.
(CN) - Executives at Advance Emissions Solutions used accounting tricks to conceal declining revenues, causing the company's share price to decline 20 percent when the news hit the market, a derivative action claims.
LOS ANGELES (CN) - Directors of American Apparel endangered the company and failed to prevent CEO Dov Charney from securing a majority stake in the company after he was ousted, a shareholder claims in a federal derivative complaint.
(CN) - Shareholders claim in court that the acquisition price of 1st United Bancorp by Valley National Bancorp is too low.
(CN) - CytRx executives hired a public relations firm that promoted CytRx stock on investing websites without disclosing that it was paid to do so, leaving the company potentially liable for securities fraud, a shareholder derivative suit says.
(CN) - China Mobile knew its corporate officers were involved in a bribery scheme, but withheld that knowledge from investors until it fired nine executives at once, a class claims in federal court.
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."
MANHATTAN (CN) - A federal jury found Rengan Rajartnam not guilty of the charges that brought down his older brother, Galleon Group founder Raj Rajaratnam.
MANHATTAN (CN) - Bernard Madoff's ex-accountant pleaded guilty this morning to conspiracy and falsifying records during Madoff's $20 billion Ponzi scheme.
(CN) - SIFMA reiterated its opposition to the Department of Labor's proposed expansion of the fiduciary duty standard, claiming that it will harm everyday investors' ability to save for retirement.
(CN) - When it comes to regulatory cooperation, talk is cheap and only meaningful action can "ensure global financial stability while maintaining open markets," E.U. Commissioner for Internal Market and Services Michel Barnier told the Peterson Institute for International Economics in Washington D.C. this month.
(CN) - The U.S. Department of Labor's (DOL) plans to redefine the meaning of the word "fiduciary" in an effort to better standards of conduct for brokers has again been pushed back to January 2015 instead of August 2014 until key issues are further addressed.
(CN) - With the passage of the JOBS Act, the legislation may expose investors to a higher risk of fraud and Congress needs to focus on investor protection while considering amendments to the act and learn from past mistakes when easing securities regulations, says NASAA President-Elect William Beatty.