The SEC on Wednesday accused 18 traders, mostly based in China, of illegally making $31 million by manipulating thinly traded securities; in a parallel action, two traders, Jiali Wang and Xiaosong Wang, were criminally charged in Boston, the SEC said.
Read moreThe Commodity Futures Trading Commission brought a federal complaint against Rust Rare Coin, saying it defrauded people of $200 million in bogus silver investments.
Read moreTwo-thirds of the way through an 18-month sentence, the lawyer convicted of conspiring with imprisoned pharmaceutical wunderkind Martin Shkreli urged the Second Circuit on Tuesday to order a new trial.
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Outlining his “plan to end corporate greed and corruption,” Senator Bernie Sanders promised Monday that as president he would increase corporate tax rates, ban large-scale stock buybacks and give workers a stronger say in how their company operates.
Read moreFinding a rational jury could find a class of SeaWorld investors suffered harm when the park’s executives opined the documentary “Blackfish” had not affected attendance, a federal judge tentatively denied SeaWorld’s request for summary judgment this week.
Read moreOne hundred thirty-five plaintiffs from several countries claim in federal court that Jairo Enrique Sanchez and Dilia Margarita Baez, last known address in Bogota, Colombia, bilked them for more than $100 million in a foreign exchange Ponzi scam.
Read moreA union pension fund claims in a shareholder class action that Chemours “concealed the true extent of the massive environmental liabilities the company incurred from decades of producing and releasing a variety of chemicals that have been linked to cancer and other serious health consequences by DuPont, Chemours’ former parent company prior to its spinoff, and by Chemours itself,” in federal court.
Read moreA shareholder class action claims that Uber misrepresented its financial state during its IPO, causing the share price to drop from the $45 on May 10 to $39.05 on Aug. 9, knocking $1.1 billion off the market cap; they also sued the underwriters, in federal court.
Read moreTwo shareholder class actions claim Dropbox misrepresented statements on its IPO, causing its share price to drop from $21 to $17.53. knocking $143.6 million off its market cap, in federal court.
Read moreHis political future is far from certain, but the son of ex-Congressman Chris Collins followed in his father’s footsteps Thursday by pleading guilty to securities fraud.
Read moreLek Securities Corp. and CEO Sam Lek will pay $2 million to settle charges of “facilitating manipulative U.S. trading by a Ukraine-based firm over a three-year period,” SEC said Wednesday.
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The first member of Congress to endorse Donald Trump as the Republican Party’s candidate for president pleaded guilty Tuesday in an insider trading case.
Read moreA shareholder class action claims that SmileDirect made false or misleading statements in its $1.3 billion IPO, “specifically … the severity of the legal obstacles SmileDirect faces in 40 states,” causing the share price to drop from $23 to $13 in 15 days, in Davidson County Court.
Read moreRepresentative Chris Collins, the first member of Congress to endorse Donald Trump for president, is expected to plead guilty to insider trading Tuesday, averting a trial where his private emails would be disclosed.
Read moreBMO Harris Financial Advisors and BMO Asset Management Corp. will pay $37 million to settle charges that they failed to reveal that advisers selected investments in their retail investment advisory program which included the selection of more expensive investments from which BMO advisers profited, the SEC said Friday.
Read moreA shareholders class action claims that Overstock.com inflated its share price with false and misleading statements, enabling co-defendant CEO Patric Byrne to sell his shares for $102 million at inflated prices, in federal court.
Read moreThe SEC claims in federal court that Alkiviades David, founder and CEO of co-defendant Hologram USA Networks, fraudulently induced investors to buy securities by falsely claiming to have exclusive rights to stage holographic shows of famous dead performers such as Whitney Houston and Tupac Shakur, touting supposed partnerships they had not made.
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