[JURIST] In Wednesday's corporations and securities law news, the SEC is investigating Analog Devices Inc. over stock option awards given to officers and directors over the past five years. The Boston Business Journal has more.
In other news, the SEC has subpoenaed The Chubb Corp. for information regarding loss-mitigation insurance products. New York Attorney General Eliot Spitzer also has subpoenaed the company for similar reasons. The company is expected to fully cooperate in the inquiry. AP has more.... Federal regulators have submitted another inquiry to Adolph Coors Co. over its proposed merger with Molson Inc. The merger is expected to go to a shareholder vote in December or January. Molson and Coors have a website dedicated to the merger. The Canadian Press has more.... A US District Court in Charlotte has ordered Fannie Mae to forfeit $6.5 million in gains received from McLean's First Beneficial Mortgage Co. under fraudulent circumstances. Fannie also had its assets at the Federal Reserve Bank of New York temporarily frozen pending an investigation into whether the mortgage giant defrauded the US government. Dow Jones has more.... As previously reported on JURIST's Paper Chase, Mikhail Khodorkovsky, the former CEO of the Russian oil company Yukos, will remain in jail until February 14, the Moscow City Court ruled on Wednesday, rejecting an appeal from Khodorkovsky's legal team. Paper Chase has background information on Khodorkovsky's legal battle here. AP has more.... The Singapore Exchange, in an effort to limit the fallout from the surprise disclosure that China Aviation Oil had sought court protection after losing $550 million trading oil derivatives, has ordered a probe into the company. The financial scandal is the city-state's largest since 1995. The Financial Times has more.... Former New York Mayor Rudolph Giuliani has launched his own investment banking firm which will offer advice to companies on mergers, acquisitions and other major deals. AP has more.... Calpers President Sean Harrigan was ousted from the number one pension fund on Wednesday. Reuters has more.