(CN) - Charles Schwab may be liable for over-investing its Total Bond Index Fund in mortgage-backed securities, allegedly costing investors millions during the 2008 financial crisis, a divided 9th Circuit ruled.
(CN) - Regulators properly blocked a planned merger of two financial powerhouses that would have controlled 90 percent of the global market for European exchange-traded derivatives, the EU general court ruled.
(CN) - King Digital Entertainment, the maker of the game Candy Crush Saga, made a public offering and insiders cashed out their personal shares before its stock price declined, shareholders claim in a class action.
(CN) - Saba Software Inc shareholders claim in court that company executives are moving ahead with an unfair acquisition deal with Vector Capital Management worth $268 million.
(CN) - A $3 billion merger between Aruba Networks and Hewlett-Packard is marred by conflicts of interest and shortchanges investors, shareholders say in a federal class action.
(CN) - Tech giant International Business Machines misled shareholders by grossly overvaluing its chip-manufacturing facilities before dumping them off to GlobalFoundries last year, a pension fund claims in a federal class action.
(CN) - The Securities and Exchange Commission filed an insider-trading lawsuit against a dentist who allegedly made a small fortune off call-option contracts in anticipation of Chicago Bridge & Iron Co.'s buyout of Shaw Group.
(CN) - Shareholders of online travel agency Orbitz are challenging its planned $1.6 billion merger with Expedia, claiming the deal rewards insiders while neglecting the interests of the company's investors.
(CN) - Stratasys Ltd. intentionally drove up stock prices to position itself for two separate mergers, shareholders claim in federal court.
(CN) - The Consumer Financial Protection Bureau submitted a 728-page study to Congress on mandatory arbitration practices prevalent in the consumer financial services industry but did not make any conclusions about the advantages or disadvantages forcing consumers to enter arbitration.
(CN) - Standard & Poor's will pay $1.4 billion to settle charges of inflating ratings of mortgage investments that collapsed in the 2008 financial crisis.
FORT WORTH (CN) - Life settlement provider Life Partners Holdings has filed for bankruptcy protection as it appeals the SEC's $46 million judgment against it.
(CN) - A SIFMA-commissioned report opposes findings made by a White House commission that conflicted investment advice costs investors billions each year, emphasizing the "pervasive" regulation of the financial advisory market.
(CN) - President Obama's proposed tax on big banks' liabilities would raise approximately $110 billion over the next 10 years, but is unlikely to reach the floor of a Republican Congress.