(CN) - Shareholders cannot sue BioMimetic Therapeutics for its "rosy assessments" of a bone therapy device's prospects for FDA approval because the company believed its own statements, the 6th Circuit ruled.
MANHATTAN (CN) - The nation's pre-eminent stock exchanges cheated investors by letting high speed traders jump the line, manipulating the markets and diverting billions of dollars to themselves, the city of Providence, R.I., claims in a federal class action.
(CN) - A $1.6 billion merger between LIN Media and Media General was the result of a "flawed process" designed to favor Media General to the detriment of public stockholders, shareholders claim in a federal class action.
(CN) - Herbalife Ltd. is little more than a pyramid scheme reliant on "independent distributors" recruiting more distributors, shareholder claim in federal court.
(CN) - Aveo Pharmaceuticals and its board misrepresented the prospects of its cancer drug tivozanib, and the company's share price dropped more than 90 percent when the FDA unexpectedly declined to approve the drug, a shareholders claim in a derivative action.
(CN) - Sotheby's board of directors adopted a "poison pill" strategy to protect entrenched board members from being voted out, shareholders claim in federal court
NEWARK (CN) - The SEC charged two doctors and a third person with inside trading on confidential information about the failure of a biopharmaceutical company's prize drug.
MANHATTAN (CN) - Two Texas tycoons played a "global game of hopscotch" by hiding corporate assets in offshore accounts for 13 years, federal regulators told a jury.
(CN) - The Financial Industry Regulatory Authority is failing to provide adequate background checks of current and potential stockbrokers through its BrokerCheck disclosure system, a report by the Public Investors Arbitration Bar Association says.
(CN) - The Federal Reserve Board will give banks two extra years to divest from collateralized loan obligations as required by the Volcker rule.
(CN) - A new regulatory tool proposed by the Financial Industry Regulatory Authority is "massive" and "invasive," according to the Securities Industry and Financial Markets Association.