(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) - United Western Bancorp's 2009 opinion that mortgage-backed securities would rebound was genuine, even if it was "spectacularly wrong," the 10th Circuit ruled, dismissing a shareholder class action.
WASHINGTON (CN) - A federal judge ordered two government agencies to look harder for documents requested by a convicted white-collar criminal who believes evidence important to his defense was withheld by prosecutors.
MANHATTAN (CN) - A deal between Citigroup and regulators allowing the bank to settle $600 million mortgage fraud claims for a fraction of that amount must move forward, despite a federal judge's lament that an appellate court's insistence he approve the plan has left him with "nothing but sour grapes."
(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.
(CN) - A $6.2 billion merger between Rockwood Holdings Inc. and Albemarle Corp. fails to net shareholders the full value of their shares, they say in a Delaware Court of Chancery.
SAN FRANCISCO (CN) - The three top executives of Yelp sold more than $20 million of their own shares at prices inflated by false and misleading statements, and the stock price cratered by one-third when the truth came out, shareholders claim in a federal class action.
LOS ANGELES (CN) - Executives at GrowLife manipulated the company's share price to issue below-market shares to insiders, then dumped millions of shares in the market just before the company was suspended from trading, a shareholder claims in a derivative complaint.
(CN) - A $6.4 billion merger between International Game Technology and GTech S.p.A. is designed to avoid American taxes, shareholders allege in a class action.
(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.
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."
MANHATTAN (CN) - A federal jury found Rengan Rajartnam not guilty of the charges that brought down his older brother, Galleon Group founder Raj Rajaratnam.
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.
(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.