(CN) - The 5th Circuit ruled for a bank executive accused of fraud in his challenge to FDIC penalties, ruling that the agency's process for hiring administrative law judges may violate the Appointments Clause.
(CN) - Likening himself to the Lady of Shalott character confined to a castle tower in an 1830s poem, Delaware Vice Chancellor Samuel Glasscock dismissed a shareholder class action over aerospace company Kreisler Manufacturing's merger, notwithstanding his constrained view of the facts around the deal.
(CN) - Bore-Flex Industries, a Missouri-based manufacturer of plumping pipes, won dismissal of a shareholder action alleging company directors improperly received payments on promissory notes issued to them.
(CN) - In an investor class action over mutual fund manager PIMCO's asset allocation strategy, the 9th Circuit axed various state-law claims while tackling the contentious legal question of whether a claims-dismissal under the Securities Litigation Uniform Standards Act should be without prejudice.
(CN) - Equifax shareholders were quick to file suit against the company after news broke that hackers accessed the personal information of millions of U.S. customers.
(CN) - The Commodity Futures Trading Commission is suing Monex Deposit Company for allegedly defrauding thousands of precious metals investors out of more than $290 million over a six-year period.
(CN) - A shareholder class action seeks to block the acquisition of regional Midwest bank Wolverine Bancorp by Horizon Bancorp, claiming the bank's proxy statement filed with the Securities and Exchange Commission is misleading.
(CN) - Volkswagen is being sued by investors who claim the company's stock price was artificially pumped up until allegations of collusion with other automakers to fix the prices of vehicle technology caused its stock price to crash.
(CN) - Shareholders of pharma firm SciClone filed a class action claiming the proxy statement for a pending $605 million buyout withholds key information about the deal and the negotiations that led to its approval by the company's board.
(CN) - LendingClub has lost nearly $100 million due to expenses stemming from its CEO's resignation in 2016 on the heels of an accounting scandal, shareholders claim in a derivative action.
(CN) - Specialty healthcare company Endo International PLC is under fire from investors who allege the company's share price fell when one of its opioid pain medications was removed from the market due to the drug's potential for user abuse.
(CN) - Investors claim in a class action that CDI Corp. is being sold to affiliates of AE Industrial Partners LLC too cheaply at $8.25 per share.
(CN) - Shareholders filed a class action against painkiller producer Depomed over the collapse of its stock price after news broke that the Department of Justice launched a probe into the company's opioid drug marketing practices.
(CN) - Staples shareholders claim in a class action that the proxy statement for Sycamore Partners' pending $6.9 billion buyout of the office-supply giant did not adequately disclose potential conflicts of interest among Staples board members who approved the deal.
(CN) - A shareholder derivative lawsuit claims industrial-distribution titan HD Supply's top executive improperly sold off more than $53 million worth of HD Supply stock shortly before the company's share price tumbled amid revelations that its financial projections were unattainable.
(CN) -The Department of Labor proposed to move enforcement of the 2016 fiduciary rule from Jan. 1, 2018 to July 1, 2019. The 2016 rule initially had an enforcement date of April 10, 2017.
(CN) - Federal financial agencies say they will coordinate a review of potential "unintended consequence(s)" of the Volcker rule, which could keep certain financial funds from investment trading in the United States.
(CN) - In response to Sen. Orrin Hatch's request, the Securities Industry and Financial Markets Association outlined its concerns for any future tax reform legislation, arguing that an increase in taxation on banking activities or capital gains will inhibit investment.
(CN) - The Financial Industry Regulatory Authority slapped a New York brokerage firm with a fine for letting a hedge fund client profit by opening joint accounts with terminally ill people and allegedly exploiting a survivorship clause that allowed the hedge fund to prematurely redeem investments in the accounts upon the sick persons' death.
BROOKLYN (CN) - Reviled "Pharma Bro" Martin Shkreli left a Brooklyn bond hearing Wednesday in the custody of two deputy U.S. Marshals, after a federal judge said his Facebook posts indicated he was a danger and risk to the community.
MANHATTAN (CN) - Known on the airwaves for gabbing about gambling, Craig Carton's habit features prominently Wednesday in a federal complaint charging the sports-radio personality with a $5.6 million securities fraud.
(CN) - KPMG LLP has agreed to pay more than $6.2 million to settle charges it failed to properly audit financial statements of an oil and gas company, which skewed its reported value, the Securities and Exchange Commission announced.