The 9th Circuit sided with the Securities Exchange Commission in an action against Heart Tronics Inc. and attorney Mitchell Stein, who fraudulently inflated the company’s stock price while working as its outside counsel.
Read moreShareholders claim in a federal class action that directors are selling FCB Financial Holdings too cheaply through an unfair process to Synovus Corp., in a 1:1.055 share swap, a $2.9 billion deal.
Read moreShareholders claim in a federal class action that directors are selling the medical-device company K2M Group Holdings too cheaply through an unfair process to Stryker Corp., for $27.50 a share or $1.4 billion.
Read moreA shareholder class action claims that shares of Pinduoduo fell below its July IPO price of $19 (for a total of $1.6 billion) after China announced it was investigating the Chinese e-commerce company for selling counterfeit goods and violating copyright.
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Essendant Inc. faces a class action from investors after terminating a merger agreement with Genuine Parts Co. in favour of an offer from Staples.
Read moreSetting the Republican congressman’s trial date for the year 2020, a federal judge overruled concerns Thursday about putting Representative Chris Collins on trial while he seeks re-election.
Read moreA federal judge ordered $7.5 million in disgorgement and penalties Tuesday against Payson Petroleum executives Matthew Carl Griffin and William Daniel Griffin, whom the SEC accused of securities fraud.
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(CN) – Shareholders claim in a class action that the acquisition of Sprint by rival T-Mobile for an estimated $59
Read moreThe SEC brought a federal complaint accusing Todd Elliott Hitt, 53, of Arlington, Va., of running his real estate companies, Kiddar Capital and Kiddar Group Holdings, as a $20 million Ponzi scheme “to support his extravagant lifestyle.”
Read moreShareholders brought a class action to challenge the sale of KMG Corp. to Cabot Microelectronics for $863 million, at $55.65 a share plus 0.2 shares of Cabot for each KMG share.
Read moreThe SEC claims in a federal complaint that a UK citizen who lives in France fraudulently sold $165 million in stocks through his company Wintercap.
Read moreShareholders brought a federal class action to challenge the sale of the office-supply company Essendant to Staples for $482 million or $12.80 a share.
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The Securities and Exchange Commission claimed victory in the 9th Circuit after an appellate panel affirmed a judgment against a financial planning corporation for selling unregistered securities, but a named defendant’s death during the appeal spared his estate of civil penalties.
Read moreCarlos Uresti, a Texas state senator who resigned this year after being convicted of 11 felonies, faces a federal SEC complaint. It says with, with help from Stanley P. Bates, of San Antonio, Uresti claimed to “buy and sell sand used in hydraulic fracking,” and defrauded investors of $11 million.
Read moreThrough his Montano Enterprises, Ronald C. Montano, 40, of St. Cloud, Fla., defrauded investors of $2.5 million through “illegal, off-exchange binary trading accounts,” the CFTC says in a federal complaint, claiming he was aided and abetted by Michael Wright, 64, of Seattle.
Read moreThe SEC brought federal complaints against Salix Pharmaceuticals and its CFO Adam Derbyshire , claiming they lied about stuffing supply chains for their drugs, and when sales predictably dropped, the share price dropped by 34 percent.
Read moreA federal securities class action claims that shares of Chegg Inc., a direct-to-student learning platform, dropped from $32.33 to $28.42 in a day when it was revealed that a data hack exposed 40 million users’ private information.
Read moreThe SEC claims in a federal complaint Russell Craig, 59, of Union City, Ga., defrauded real estate investors of more than $1 million through his company, OneStep Financial Services, of Atlanta.
Read moreElon Musk and Tesla will each pay $20 million to settle securities fraud charges, and Musk will resign as Tesla chairman for 3 years, for tweeting in August that he had the financing to take Tesla private for $420 a share, though he had nothing of the kind, the SEC announced Saturday.
Read moreThe Securities and Exchange Commission filed suit Friday against a Florida company that claims to make painkillers with cobra venom.
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