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]
December 1, 2014
by Brittany Felder
Human Rights Watch (HRW) said Monday that the new UK Counterterrorism and Securities Bill infringes on human rights. The bill, presented by Prime Mininster David Cameron to Parliament last Wednesday, proposes temporary restrictions on travel, exclusion from the UK for suspicion of involvement in ...[read more]
September 30, 2014
by Dominic Yobbi
The US Supreme Court on Monday dismissed the case of Public Employees' Retirement System of Mississippi v. IndyMac MBS, Inc., a dispute involving the time allowed to file lawsuits claiming false information during the sale of securities. The dismissal means that the decision by the US Court of ...[read more]
August 21, 2014
by William Hibbitts
The US Department of Justice (DOJ) on Thursday announced a $16.65 billion settlement with Bank of America (BOA) to settle claims that it sold precarious mortgage-backed securities to investors. Of the $16.65 billion, $9.65 billion will be split among federal and state entities while the remaining ...[read more]
August 19, 2014
by Kimberly Bennett
A judge for the US District Court for the District of Minnesota on Monday approved a settlement for $62.5 million between Wells Fargo & Co and large institutional clients who lost money in an investment program known as securities lending. US District Judge Donovan Frank also awarded attorneys ...[read more]
July 15, 2014
by Taylor Gillan
Citigroup, Inc. on Monday agreed to pay $7 billion to settle a federal inquiry into mortgage-backed securities sold by the bank prior to the country's financial crisis. The deal, which involves one of the largest cash penalties ever paid to settle such allegations, includes a $4 billion civil ...[read more]
July 2, 2014
by Peter Snyder
A judge for the US District Court for the Southern District of New York on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the brother Raj Rajaratnam, the founder of the now defunct Galleon Group. US District Judge Naomi Reice Buchwald ruled that a reasonable jury would ...[read more]
June 23, 2014
by Jaclyn Belczyk
The US Supreme Court on Monday limited shareholders' class action suits for securities fraud. In Halliburton Co. v. Erica P. John Fund, Inc., the court declined to overturn its 1988 decision in Basic Inc. v. Levinson. Halliburton Co. has faced numerous lawsuits concerning allegations the company ...[read more]
June 21, 2014
by Ann Schober
The Securities and Exchange Commission (SEC) on Friday filed a lawsuit in the US District Court for the Southern District of New York hoping to compel Congress to comply with subpoenas it received requesting information on an insider trading case the commission is investigating. The subpoenas ask ...[read more]
May 20, 2014
by Peter Snyder
Swiss bank Credit Suisse pleaded guilty Monday to a criminal charge for its role in helping Americans avoid taxes, according to a speech from US Attorney General Eric Holder. Credit Suisse will pay a $2.5 billion financial penalty to the Department of Justice (DOJ), the Internal Revenue Service ( ...[read more]

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