March 24, 2015
by Addison Morris
The US Supreme Court their ruled Tuesday in Omnicare, Inc. v. Laborers Dist. Council Constr. Industry Pension Fund that a statement of opinion does not qualify as an "untrue statement" even if the opinion ultimately turns out to be incorrect. The federal government filed a claim against Omnicare, ...[read more]
March 23, 2015
by Alison Sacriponte
A judge for the US District Court for the Southern District of New York gave final approval Friday to a $970.5 million settlement for shareholders of the insurance giant American International Group (AIG) to settle claims that shareholders were misled about the subprime mortgage exposure that led ...[read more]
February 3, 2015
by Addison Morris
The US Department of Justice (DOJ) announced Tuesday that, after two years of litigation, Standard & Poor's (S&P) on Monday reached an agreement to settle a series of lawsuits for $1.375 billion. The lawsuits accuse the credit rating firm of defrauding investors and sending out inaccurate ...[read more]
January 12, 2015
by Brittany Felder
The US Supreme Court on Monday rejected an appeal by Rajat Gupta, the former Goldman Sachs director convicted of insider trading. This rejection leaves in place a lifetime ban on serving as an officer or director of a public company and stems from the civil case against Gupta by the Securities and ...[read more]
December 28, 2014
by Bradley McAllister
The City of Providence, Rhode Island filed a class action suit against Brazil's state-run oil company Petrobras on Wednesday in the US District Court for the Southern District of New York. The complaint alleges Petrobras engaged in a fraudulent scheme to inflate the value of the company's net ...[read more]
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]

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