Tuesday, November 29, 2016 6:32 PM PT
By IZZY KAPNICK 

     (CN) - A federal appellate panel gave construction titan Tutor Perini the go-ahead to pursue claims against Bank of America's investment division for allegedly duping it into buying doomed auction rate securities amid the 2008 financial crisis. 

By LORRAINE BAILEY 

     
     (CN) - A client accusing Citibank of mismanaging $131 million is entitled to a new arbitration hearing after discovering an imposter sat on the arbitration panel, the Ninth Circuit ruled. 

By ADAM KLASFELD 

     MANHATTAN (CN) - There was nothing unfair about "lock-up agreements" that earned $100 million for major banks like Goldman Sachs, JPMorgan Chase and Morgan Stanley during Facebook's ill-fated initial public offering from 2012, the Second Circuit ruled. 

By LORRAINE BAILEY 

     
     (CN) - A fund controlled by the Libyan government may be immune from a receiver's attempts to claw back $50 million in payments it received from R. Allen Stanford's massive Ponzi scheme, the Fifth Circuit ruled. 

By IZZY KAPNICK 

     (CN) - A Delaware chancellor ruled that distressed asset mogul Lynn Tilton improperly withheld financial records from the firm that replaced her as collateral manager for the Zohar investment funds. 

By NICHOLAS IOVINO 

     PASADENA, Calif. (CN) - A Ninth Circuit panel resurrected claims that a pharmaceutical firm hid concerns from investors that its weight-loss drug caused cancer in rats prior to approval by the FDA. 

By LORRAINE BAILEY 

     
     (CN) - Capital One's board did not consciously disregard its responsibility to oversee the bank's compliance with anti-money laundering laws, the Delaware Chancery Court ruled in dismissing a shareholder derivative suit. 

By NICKEESHA SWABY 

     
     (CN) - Shareholders of biopharmaceutical company Dynavax Technologies Corp. claim the company's top officers lied about the U.S. Food and Drug Administration's approval of its leading hepatitis drug causing a disastrous stock price plummet when the truth came to light.

By IZZY KAPNICK 

     (CN) - A New York class action seeks to hold Brazilian mining company Samarco liable for investors' losses after its dam collapsed, killing residents of a nearby village and flooding the area with toxic sludge.

By DON DEBENEDICTIS 

     SAN DIEGO (CN) - Shareholders of Ligand Pharmaceuticals filed a federal class action accusing the company of overstating its assets and exaggerating its financial picture, causing its share price to plummet 5 percent in just two days once the problems came out. 

By IZZY KAPNICK 

     (CN) - Investors claim in a class action that Chinese online retailer Dangdang disregarded a third-party buyout bid so that Dangdang's controlling shareholders could take the company private in a lowball deal.

By LORRAINE BAILEY 

     (CN) - The proposed $465 million acquisition of Everyday Health by media conglomerate Ziff Davis is "tainted" by director self-interest, shareholders claim in a class action.

By LORRAINE BAILEY 

     CHICAGO (CN) - Allstate concealed that the expansion of its car insurance business significantly reduced its profit margin, keeping its share price artificially high while its CEO sold $33 million in stock, a securities class action claims.

By IZZY KAPNICK 

     (CN) - Shareholders are taking pharmaceutical giant Allergan to court over losses suffered in the wake of revelations that the company is being probed by the Department of Justice over accusations of generic drug price fixing.

By MATTHEW RENDA 

     REDWOOD CITY, Calif. (CN) - Twitter investors claim in court that poor structuring of employee pay has kept the company from flourishing and caused stock prices to drop.

By IZZY KAPNICK 

     (CN) - A Microsoft shareholder wants a federal judge to put the brakes on the software giant's upcoming board member re-election vote, on the grounds that a company proxy statement concerning executive compensation does not square with U.S. tax law.

By DAVID LEE 

     DALLAS (CN) - Undeterred by a federal judge's dismissal two weeks ago, the SEC filed an amended securities fraud complaint with four charges against Texas Attorney General Ken Paxton. 

By NICKEESHA SWABY 

     (CN) - Investors are taking meat producer Tyson Foods Inc. to court over market share loss when a competing meat producer sued the company for allegedly fixing the price of chicken.

By JOSH RUSSELL 

     MANHATTAN (CN) - A former executive claims in a federal lawsuit that Thomson Reuters fired him for speaking out against misleading financial information prepared for investors in a $3 billion deal.

By TISH KRAFT 

     WASHINGTON (CN) - The Securities and Exchange Commission approved a plan to create a comprehensive database known as the consolidated audit trail (CAT).

By ELLEN ROBINSON 

     (CN) - A trio of state Republican organizations have asked the 11th Circuit to overturn a Securities and Exchange Commission rule that places tight limits on political contributions from financial advisors and others in the industry. 

By TISH KRAFT 

     (CN) The Securities and Exchange Commission has approved a rule change that requires certain members of the financial sector to report transactions in U.S. Treasury securities to the Trade Reporting and Compliance Engine (TRACE) database, where more common transactions are reported.

By PHILIP A. JANQUART 

     (CN) - The North American Securities Administrators Association has thrown its support behind proposed changes to intrastate crowdfunding rules it says will benefit local, small businesses attempting to raise capital.

By LORRAINE BAILEY 

     (CN) - Mary Joe White announced plans to step down as chair of the Securities and Exchange Commission at the end of Obama's term, which will allow President-elect Trump to choose a successor.

By DAVID LEE 

     SHERMAN, Texas (CN) - Texas Attorney Ken Paxton asked a federal judge to dismiss the SEC's second lawsuit accusing him of ripping off investors in a tech company, saying it lacks legal basis. 

By MATTHEW RENDA 

     (CN) - With Hillary Clinton looking increasingly likely to secure the presidency, leaked emails show her willingness to accommodate Wall Street - a willingness that diverges sharply from her public pronouncements of being eager to take on the banking industry.

By BRANDI BUCHMAN 

     WASHINGTON (CN) - Voicing concerns about the proposed $85.4 billion merger of AT&T and Time Warner, a senator urged the Judiciary Committee to consider a public hearing before the lucrative communications merger goes forward.

By LORRAINE BAILEY 

     (CN) - Sen. Elizabeth Warren urged President Obama to remove SEC Chair May Jo White in what would be an unprecedented ouster, citing White's failure to adopt political spending disclosure rules.