Corporations & securities brief ~ Ken Lay's wife under investigation for Enron stock sale
In Wednesday's corporations and securities law news, federal officials are investigating former Enron Chairman Kenneth Lay's wife in connection with a $1.3 million Enron stock sale just days before the energy company went under. The couple's lawyer indicated the...
Pilgrim Baxter founders settle with SEC for 'unprecedented' amount
The SEC announced Wednesday that Gary Pilgrim and Harold Baxter, founders of Pligrim Baxter mutual funds, have agreed to pay $80 million each and be barred from associating with mutual funds in settlement of charges the SEC had brought...
Two senior insurance underwriters with Zurich Financial Services, the third-largest commercial insurer in the US, pleaded guilty Tuesday night to charges connected to NY Attorney General Eliot Spitzer's ongoing insurance bid-rigging investigation. Also Tuesday, Zurich reported receiving a subpoena...
Corporations & securities brief ~ Oracle, PeopleSoft fight for outstanding shares
In Tuesday's corporations and securities law news, Oracle's hostile bid for PeopleSoft Inc. has not been defeated as top shareholders in PeopleSoft are split on whether to accept the bid. Capital Guardian Trust Co. will tender its 10% stake...
Peter Henning, Wayne State University School:"The Subcommittee on Financial Management, the Budget, and International Security of the Senate Governmental Affairs Committee will be holding a hearing today (Nov. 16) on the state of the insurance industry in light of the...
Here's a run-down of law-related events, expected developments and live webcasts on JURIST's docket for Tuesday, November 16.On Capitol Hill, the US House and Senate both reconvene for legislative business today after being in recess since October. AP has...
Corporations & securities brief ~ Dow Jones settles Australian defamation suit
In Monday's corporations and securities law news, Dow Jones & Co. has settled a defamation suit with Australian mining magnate Joe Gutnick. The suit arose out of an online publication of a story which portrayed Gutnick as a schemer...
American Express announced Monday that it is suing fellow credit card giants Visa and MasterCard, along with eight banks, alleging anticompetitive practices which prevented American Express from issuing credit cards through US banks. American Express said that it would...
SEC to file civil fraud charges against former Hollinger CEO, president
The US Securities and Exchange Commission is likely to file civil fraud charges this week against former Hollinger International chairman Conrad Black and former Hollinger president David Radler, according to a Monday Wall Street Journal report . In...
FedEx Corp. stated Friday that it would challenge an order by the US Department of Transportation to pay back part of the federal money it received as a result of the post-9/11 Air Transportation Safety and System Stabilization Act...
