December 11, 2014
by Peter Snyder
The US Court of Appeals for the Second Circuit on Wednesday overturned the insider trading convictions of two former hedge fund traders. Defendants Todd Newman and Anthony Chiasson were convicted in May 2013 on charges of "conspiracy to commit insider trading and insider trading in violation of 18 ...[read more]
April 10, 2014
by Theresa Donovan
The US Securities and Exchange Commission (SEC) on Wednesday charged Hewlett-Packard (HP) with violating the Foreign Corrupt Practices Act (FCPA) by making improper payments to various government officials in order to obtain or keep contracts within certain countries. The US Department of Justice ( ...[read more]
February 21, 2013
by Brandon Gatto
Lockheed Martin Corp. (Lockheed) on Wednesday agreed to pay $19.5 million to settle a fraud class action claim alleging that the advanced technology company misled investors in violation of the Securities Exchange Act of 1934 (Exchange Act). Brought by the City of Pontiac General Employees' ...[read more]
January 29, 2013
by Dan Taglioli
The US Court of Appeals for the Ninth Circuit on Monday refused to reinstate a lawsuit against the US Securities and Exchange Commission (SEC) by investment fraud victims of disgraced financier Bernard Madoff. The investors had sued the SEC under the waiver of sovereign immunity in the Federal ...[read more]
August 14, 2012
by Max Slater
The US Securities and Exchange Commission (SEC) announced Tuesday that Wells Fargo will pay a $6.5 million fine for improperly selling high-risk mortgage securities to investors during the housing market crash in 2007. The SEC claimed that Wells Fargo did not adequately inform investors of the ...[read more]
March 27, 2012
by Julia Zebley
The US Supreme Court ruled unanimously Monday in Credit Suisse Securities LLC v. Simmonds that normal statute of limitations tolling applies to insider trading cases. The Securities Exchange Act of 1934 states that the statute of limitations begins "more than two years after the date such was ...[read more]
March 22, 2012
by Katherine Bacher
On March 22, 2011, the US Supreme Court ruled that a class action suit against the maker of Zicam Cold Remedy, Matrixx Initiatives, could continue. The suit was filed over shareholder claims that Matrixx failed to disclose potential harmful side effects of the drug. The Court held that this type ...[read more]
March 13, 2012
by Garrett Eisenhour
On March 13, 2009, a judge for the US District Court for the Northern District of Texas ordered the assets of financier Allen Stanford indefinitely frozen at the request of the US Securities and Exchange Commission (SEC). Stanford faced charges relating to his orchestration of a $8 billion ...[read more]
February 28, 2012
by Andrea Bottorff
The Bangkok Criminal Court on Tuesday convicted a leader of the royalist People's Alliance for Democracy Network, known as "yellow shirts," of corporate fraud. Yellow shirt movement founder and Thai media mogul Sondhi Limthongkul was sentenced to 20 years in prison without parole for violating ...[read more]
December 27, 2011
by Cynthia Miley
On December 27, 2010, global telecommunications organizationAlcatel-Lucent agreed to paymore than $137 million to resolve investigations into its sales practices by theDepartment of Justice(DOJ) andthe Securities and Exchange Commission(SEC). The DOJ filed charges in the US District Cour... ...[read more]

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