The government's two-years-plus investigation into a $2 billion accounting fraud at Computer Associates reached a crescendo when the software maker agreed to pay $225 million to shareholders and former CEO Sanjay Kumar was charged with securities fraud.
San Francisco--A bold court ruling here could have a chilling effect on securities fraud litigation by raising the bar for how cases are pleaded. Fraud, already difficult to prove, will become more so if the decision is upheld, legal experts said.
Finkelstein, Thompson & Loughran has filed a securities fraud class action lawsuit against Merrill Lynch & Co., Inc. and the former head of its Internet group, Henry Blodget, on behalf of purchasers of iVillage Inc. securities between November 9, 1999 and May 7, 2001, inclusive.
In another move to hold corporations accountable, a grand jury for the U.S. District Court for the Southern District of New York returned an indictment charging one count of conspiracy to commit securities fraud, one count of securities fraud, and five counts of false filings with the Securities and Exchange...
NEW YORK -- Exide Technologies (NASDAQ: XIDE) and Deutsche Bank Securities were named in a lawsuit alleging fraud and violations of the Securities Exchange Act of 1934.
NEW YORK--The five former Adelphia Communications Corp. executives indicted on charges of conspiracy, securities fraud, wire fraud and bank fraud last week entered innocent pleas--and signaled that their defense strategy will be to place blame on t NEW YORK--The five former Adelphia Communications Corp....
Securities Fraud Not Covered, Court Says The California Court of Appeal has upheld a lower court ruling that an insurer does not have to defend or indemnify an insured under a business liability policy in a securities fraud action. The decision, wSecurities...
This article presents the findings of a study of the resolution of motions to dismiss securities fraud lawsuits since the passage of the Private Securities Litigation Reform Act in 1995.These circuits are the leading circuits for the filing of securities class actions and are generally recognized as representing two ends...
The Supreme Court's recent decision to review Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc. may finally clarity an important question in private securities fraud actions: the circumstances under which market participants who are not themselves selling securities or making statements to investors, such as attorneys, accountants, investment banks, or others...
Charges have been brought against America Online, Inc., AOL for aiding and abetting securities fraud in connection with transactions between AOL and PurchasePro.com. AOL has entered into an agreement with the government to defer prosecution for two years.
Tech support. Seriously, though, judging from consumer complaints, the most common way of getting e-ripped off is through online auction fraud. Forty-eight percent of complaints received in the first six months of operation at the FBI's Internet Fraud Complaint Center, established in May 2000, involved "auction fraud" (www.ifccfbi.gov). The runner-up,...
A federal judge in Baltimore heard brief opening statements yesterday in the trial of the U.S. Securities and Exchange Commission's $1 million securities fraud action against Baltimore- based publisher Agora Inc., one of Agora's newsletters and the newsletter's editor.
ST. LOUIS -- CKE Restaurants Inc., parent of the Hardee's, Carl's Jr. and La Salsa Fresh Mexican Grill chains, aided the federal government late last month in bringing criminal charges of extortion, wire fraud and securities fraud against a stock analyst, Clive Munro, publisher of the Javelin Research investment reports.
WASHINGTON -- Two Enron executives involved in the company's aborted video-on-demand venture with Blockbuster Video were arrested and charged by federal authorities on charges of securities fraud, wire fraud, conspiracy and making false statements WASHINGTON -- Two Enron executives involved in the company's...
This special presents three articles. The first article is titled “Neither A Purchaser Nor A Seller Be: The California Supreme Court Recognizes A Common Law Fraud Cause Of Action Where Stockholders Simply Hold Their Shares “. The second article is “Director Independence Standards: SEC, NYSE And NASD Rules And Proposals”...
Shalov Stone Bonner & Rocco LLP yesterday filed a securities fraud class action on behalf of all investors who purchased or otherwise acquired the common or preferred stock of Franklin Bank Corp. (NASDAQ: FBTX) (AMEX: FBK-P), between October 29, 2007, and May 1, 2008, inclusive. This is the only...
The law firm of Vianale & Vianale LLP commenced a securities fraud class action lawsuit on May 17, 2005, in Ft. Myers, Florida federal court on behalf of purchasers of the securities of FindWhat.com (NASDAQ: FWHT) between January 5, 2004 and May 4, 2005, inclusive. View the complaint on...
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