(CN) - The Delaware Chancery Court upheld the 2015 valuation of PetSmart at $8.7 billion, rejecting shareholder claims that, according to management's own projections, the company was worth substantially more.
(CN) - Shareholders of Banca Privada d'Andorra, dissolved after FinCEN declared it a suspect in a money laundering investigation, lacks standing to sue the agency now that the bank no longer exists, the D.C. Circuit ruled.
(CN) - A would-be investor class action against China Agritech, a Chinese company that allegedly defrauded investors by purporting to be a major fertilizer producer while its factories remained idle, is not time-barred, the Ninth Circuit ruled.
(CN) - A federal judge approved class certification in an investor suit claiming Virtus Investment Partners AlphaSector funds' stellar performance record was based on hypothetical trading results, not real returns.
(CN) - A class action filed against OneBeacon Insurance Group claims the proxy statement for the company's $1.7 billion merger with Intact Financial is deficient and misleading.
(CN) - Investors in global laboratory supplier VWR Corp. want to stop a $6.4 billion acquisition by Avantor Inc. which they claim significantly undervalues the company.
(CN) - Shareholders of Akorn Pharmaceuticals are taking the company to court to force it to release GAAP-compliant reports ahead of a vote on its proposed acquisition by Fresenius Kabi.
(CN) - Investors are challenging the $2.4 billion acquisition of luxury fashion brand Kate Spade & Company by rival Coach Inc. over allegedly inaccurate statements filed with the Securities Exchange Commission.
(CN) - After touting the success of clinical trials of a new hormone therapy drug, pharmaceutical company TherapeuticsMD Inc. saw more than $668 million in market capitalization wiped out when the U.S. Food and Drug Administration rejected the product, a shareholder derivative alleges.
(CN) - Investors in Eco Science Solutions Inc. are taking the company to court after its shares were suspended from trading over concerns about misinformation related to the acquisition of Ga-Du Bank Inc.
(CN) - Jive Software Inc.'s $462 million acquisition deal with Wave Systems Corp. has spurred an investor lawsuit that alleges the company withheld important information in statements filed with the Securities Exchange Commission.
WILMINGTON, Del. (CN) - Compounding antitrust liability at home and abroad, Qualcomm's misrepresentations about its microprocessor's overheating problems have sent the chipmaker's stock into a tailspin, investors claim in a federal class action.
(CN) - Intra-Cellular Therapies Inc. shareholders claim in court that the company's stock price was artificially propped up until studies revealed the company's schizophrenia drug showed toxicity in animals.
(CN) - General Motors Company unilaterally changed the terms of a warrant agreement, blindsiding holders when the company announced that the warrants were set to expire just days after being delisted on the New York Stock Exchange, a class action alleges.
(CN) - At the request of President Donald Trump, the Department of Treasury conducted a review of the U.S. financial regulatory system, and its June report blames the "obstacles" of the Dodd-Frank reforms for dragging down growth.
(CN) - The landmark Department of Labor fiduciary rule is now in effect, broadening the triggers for when financial professionals have the heightened responsibility of a "fiduciary" when dealing with clients' retirement plans.
(CN) - The Financial Industry Regulatory Authority has moved forward with proposals aimed at tightening regulation of brokers with records of professional misconduct.
(CN) - Veteran attorney Jay Clayton was sworn into office as the Chairman of the Securities and Exchange Commission on the heels of a contentious confirmation process marked by partisan dissent not typically seen in the approval of SEC commissioners.
(CN) - The SEC's acting enforcement director, Stephanie Avakian, will share the division's top post with Steven R. Peikin, a prominent corporate defense attorney, SEC Chair Jay Clayton announced.
McKINNEY, Texas (CN) - Texas Attorney General Ken Paxton got his wish Friday when the trial judge in his drawn-out criminal securities fraud case relinquished control to be replaced by another judge in Houston.
(CN) - The Financial Industry Regulatory Authority expelled a former Morgan Stanley trader accused of carrying out $190 million in rogue Venezuelan bond transactions.
SANTA ANA, Calif. (CN) - A federal jury convicted former Orioles and Angels third baseman Doug DeCinces of 14 counts of insider trading for raking in a $1.3-million profit based on illegal tips.