(CN) - AbbVie Inc. stockholders are not entitled to records connected to a failed $54 billion merger transaction that cost the company hundreds of millions of dollars, the Delaware Chancery Court ruled.
(CN) - A federal judge erred in dismissing the Federal Guaranty Insurance Company's lawsuit claming it lost $900 million due to an financial management firm's allowing a hedge fund to manage a collaterlized debt obligation it was in the process of shorting, the 2nd Circuit ruled.
(CN) - Two auditors for Advanced Battery Technologies did not commit fraud by failing to cross-check the company's SEC filings with its equivalent filings with Chinese regulators, the 2nd Circuit ruled.
(CN) - The chief technology officer of a firm marketing supposed identity-protecting smart cards lied to investors and regulators as he and others at the e-Smart Technologies Inc. desperately tried to keep their foundering company afloat, a federal judge ruled.
(CN) - Chinese mobile game developer iDreamSky Technology faces an investor class action over allegedly false statements issued by the company in connection with its initial public offering.
(CN) - Shareholders claim in a class action that board members are looking for a quick cash-out in Microsemi Corp.'s deal to acquire Vitesse Semiconductor Corp. for $389 million.
(CN) - Shareholders claim in a class action that web communications company Sonus Networks propped up its stock price by falsely touting its ability to meet lofty earnings expectations in early 2015.
(CN) - Swiss lighting manufacturer TCP International Holdings misled investors in a registration statement and prospectus before its $73 million initial public offering, shareholders claim in a class action.
SANTA ANA, Calif. (CN) - Dozens of Pimco funds claim they suffered huge losses during the financial meltdown because American International Group put more than $27 billion into risky and misvalued "exotic securities."
WASHINGTON (CN) - A New York-based investment adviser and her four Patriarch Funds took nearly $200 million in fees to which they were not entitled, for managing collateralized loan obligations, the SEC claims in court.
(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) - 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) - The U.S. Department of Labor is seeking public comment on new rules intended to ensure financial advisers give retirement advice untainted by conflicts of interest.
(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.