Tuesday, July 29, 2014 4:39 PM PT
By DAVID LEE 

     WASHINGTON (CN) - The court-appointed receiver for R. Allen Stanford's $7 billion Ponzi scheme cannot sue Proskauer Rose and Chadbourne & Parke in D.C. federal court because it lacks jurisdiction, the D.C. Circuit ruled. 

By LORRAINE BAILEY 

     (CN) - Two men who sold memberships in online shopping hub Big Co-op, and promised "rewards" based on customers' recruitment of other members, will serve more than 30 years in prison for securities fraud, a California appeals court affirmed.

By NICK DIVITO 

     NEW YORK (CN) - The so-called "Madoff 5" can't wriggle out of their convictions for helping Bernard Madoff run the nation's largest Ponzi scheme, the federal judge who oversaw their trial ruled.

By IULIA FILIP 

     FORT MYERS, Fla. (CN) - A broker must pay $1.3 million in disgorgement to the Securities and Exchange Commission for selling unregistered penny stock, a federal judge ruled. 

By LORRAINE BAILEY 

     (CN) - Expedia committed no misconduct by altering its executive compensation plan to allow a stock award to its CEO based on one target goal instead of two, the Delaware Chancery Court ruled. 

By DAVID LEE  

     WASHINGTON (CN) - Victims of Allen Stanford's $7 billion Ponzi scheme cannot seek compensation from the federally-mandated Securities Investor Protection Corporation, the D.C. Circuit ruled. 

By ADAM KLASFELD 

     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. 

By LORRAINE BAILEY 

     (CN) - Two executives at Apollo Group did not engage in short-swing trading by settling derivative contracts just months before selling shares on the open market, the 2nd Circuit ruled. 

By PHILIP A. JANQUART 

     (CN) - The 10th Circuit ruled shareholders cannot prove Chesapeake Energy Corp. and its officers intentionally withheld information to inflate the company's stock price. 

By NICK DIVITO 

     MANHATTAN (CN) - The Texas tycoons behind arts-and-crafts franchise Michaels Stores did not engage in insider trading on a $40 million off-shore deal, a federal judge ruled. 

By LORRAINE BAILEY 

     (CN) - Three banks that "fix" the market price of silver each day in a private conference call used their insider knowledge to manipulate the silver futures market to make "millions, if not billions" in profit, a class claims in court.

By NICKEESHA SWABY 

     
     (CN) - Cigarette manufacturer Lorillard Inc. is being sold on the cheap for $25 billion to rival Reynolds American, shareholders claim in Delaware Chancery Court.

By NICKEESHA SWABY 

     
     (CN) - A pair of investors are suing biopharmaceutical company Vivus Inc. claiming company executives were dishonest about the growth prospects of the obesity fighting drug Qsymia.

By PHILIP A. JANQUART 

     (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.

By PHILIP A. JANQUART 

     (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.

By PHILIP A. JANQUART 

     (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.

By LORRAINE BAILEY 

     (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.

By LORRAINE BAILEY 

     (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.

By LORRAINE BAILEY 

     
     (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.

     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." 

     
     BOSTON (CN) - The SEC charged five men with conspiring to manipulate the stock price of an empty shell company - which the FBI actually controlled, in a hunt for stock manipulators. 

By ADAM KLASFELD 

     MANHATTAN (CN) - A federal jury found Rengan Rajartnam not guilty of the charges that brought down his older brother, Galleon Group founder Raj Rajaratnam.

By NICK DIVITO 

     MANHATTAN (CN) - Bernard Madoff's ex-accountant pleaded guilty this morning to conspiracy and falsifying records during Madoff's $20 billion Ponzi scheme.

By TISH KRAFT 

     WASHINGTON (CN) - The Securities and Exchange Commission has issued a regulation to make money market funds less susceptible to redemption in times of economic stress.

By LORRAINE BAILEY 

     (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.

By LORRAINE BAILEY 

     (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.

By NICKEESHA SWABY 

     (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.