Caesars Entertainment Shareholders Claim Crucial Info Lacking on $17.3B Merger with Eldorado Resorts
(CN) – Caesars Entertainment is set to be acquired by Eldorado Resorts for $17.3 billion in cash and stock to
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Securities and Exchange Commission
D.C. Circuit Tosses State Republicans’ Challenge of SEC Political Contributions Rule for FINRA Broker-Dealers
(CN) – The Court of Appeals for the D.C. Circuit denied the New York Republican State Committee’s bid to challenge the Securities Exchange Commission’s rule prohibiting broker-dealers acting as “placement agents” from accepting compensation for soliciting government business from candidates and elected officials.
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Shareholders Cry Foul on ‘Misleading’ Proxy Issued Ahead of EFI Inc. Merger
(CN) – Shareholders claim in a class action that digital printing technology firm Electronics for Imaging Inc. filed an incorrect
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Investors Say Falsehoods in SEC Docs Marred CVS-Aetna Merger
(CN) – Shareholders claim in a class action that CVS Healthcare Corp. misled investors about its merger with Aetna Inc.
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Class Claims Multi-Color Corp. Omitted Key Info on Acquisition Deal
(CN) – Commercial label maker Multi-Color Corp. faces a shareholder derivative class action for allegedly misrepresenting and omitting key information
Read moreEx-Theranos CEO Makes Court Appearance in Fraud Case
Disgraced former Theranos CEO Elizabeth Holmes made a court appearance in a criminal case against her Monday, navigating a phalanx of television cameras and a large media presence at the federal courthouse in San Jose.
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SEC Claims Corinthian Colleges Fudged Numbers to Access Student Loan Funds
(CN) – The Securities Exchange Commission claims in court that now-defunct Corinthian Colleges Inc. incurred unnecessary long-term debt in order
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Furious Pace of Post-IPO Acquisitions Put Forterra in Billion Dollar Hole, Shareholder Claims
(CN) – Shareholders claim in a derivative action that pipe manufacturer Forterra Inc. deceived investors with an initial public offering
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Second Circuit Vacates Securities Fraud Conviction Against Former JPMorgan Analyst
The Second Circuit vacated a judgment against JPMorgan Chase analyst Sean Stewart who was convicted in February 2017 of insider trading for feeding tips to his father.
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JCPenney Heirs Sue JPMorgan Over ‘Classic Conflict of Interest’
(CN) – Heirs to the JCPenney fortune are suing JPMorgan Chase Bank, claiming that the investment bank engaged in self-dealing
Read moreFifth Circuit Delivers Partial Victory to Class in Securities Fraud Case Against Hanger Inc.
Shareholders scored a partial victory on appeal of a previously dismissed securities fraud complaint against medical service provider Hanger Inc. and its former CFO George McHenry.
Read moreNew England Couple Accused of Insider Trading
The Securities and Exchange Commission claims the former head of a New Jersey payment processing firm gave his girlfriend $1 million to buy company stock ahead of a merger announcement, netting the pair more than $250,000 in profits.
Read moreJustices Say SEC Judges Must Be Appointed
The U.S. Supreme Court on Thursday held that administrative law judges at the Securities and Exchange Commission are “inferior officers” subject to the Appointments Clause of the U.S. Constitution.
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Investors Fire on OSI Systems Over SEC and DOJ Probes
OSI Systems Inc. faces a federal class action over a contract with the Albanian government that spurred investigations by the Securities Exchange Commission and the U.S. Department of Justice.
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Iovance Failed to Disclose Paid Shills Promoting its Stock, Class Claims
Investors claim they were misled when Iovance Biotherapeutics covertly paid a promoter to write articles and send emails pushing its stock until the Securities Exchange Commission stepped in with a cease-and-desist order.
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Valeant Tanked Billions in Shareholder Value, Investors Say
(CN) – Shareholders sued Canadian pharmaceutical giant Valeant after the company’s value plummeted on news it was manipulating drug-distribution channels
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OvaScience Sued by Shareholders for Over-Hyped Fertility Treatment
Shareholders claim in a class action that life sciences company OvaScience Inc.’s stock went on a free-fall when the company revealed that one of its fertility treatments was not as successful as originally touted.
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Investors Claim Info Lacking on Cisco’s Bid for BroadSoft
A shareholder class action in Maryland demands revisions to the proxy statement for Cisco’s pending $1.9 billion buyout of business-communication firm BroadSoft because the document allegedly lacks key financial projections and an explanation of its discounted cash-flow analyses.
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Shareholders Challenge $1.6 Billion Bid for Gigamon
Investors are challenging private-equity firm Elliott Management Corp.’s bid for network software company Gigamon Inc. for $1.6 billion over allegedly misleading statements filed with the Securities Exchange Commission.
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