Top News

SEC announces settlement with United Airlines' parent company over flight reinstatement for public official

Mark Iandolo Dec. 7, 2016, 10:09pm

WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced Dec. 2 that United Airlines’ parent company will pay $2.4 million to resolve allegations that shareholders had to foot the bill for a public official securing convenient flights.

SEC files charges against Expedia employee for allegedly hacking executives

Mark Iandolo Dec. 7, 2016, 10:08pm

WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced Dec. 5 that it has filed insider trading charges against Jonathan Ly, an Expedia employee, for allegations of hacking senior executives in order to trade on company secrets.

SEC charges Onix Capital with fraud, freezes assets

Mark Iandolo Dec. 6, 2016, 9:41am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced fraud charges and an asset freeze Dec. 1 against Onix Capital LLC, an asset management company based in Miami Beach, Florida, and owner Alberto Chang-Rajii, a Chilean national who fled the country early this year.

SEC charges California movie producer, private equity executive with defrauding consumers

Mark Iandolo Nov. 17, 2016, 8:23am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Nov. 9 it has charged David R. Bergstein of Hidden Hills, California, with defrauding investors.

EZTD owes SEC $1.7 million after allegedly misleading investors into trading binary options

Mark Iandolo Nov. 17, 2016, 8:13am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Nov. 10 EZTD Inc. has been ordered to pay more than $1.7 million over allegations of misleading investors into trading binary options over the internet.

SEC Chairwoman White to step down as Obama administration ends

Mark Iandolo Nov. 17, 2016, 8:11am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Nov. 14 that Chairwoman Mary Jo White will step down at the end of the Obama administration.

Company paying $500K in 'standalone' whistleblower retaliation case brought by SEC

Robert Lawson Nov. 4, 2016, 12:45pm

WASHINGTON D.C. — The Securities and Exchange Commission (SEC) has closed its first case citing a whistleblower anti-retaliation mechanism without including securities-based charges.

Investment firm defamed pharma company to drive down stock price, lawsuit says

Taryn Phaneuf Nov. 2, 2016, 8:56am

LAS VEGAS (Legal Newsline) — A $20 million lawsuit involving a pharmaceutical company and the investment firm with a stake in the company is a battle for control, a University of Toledo professor says.

EEOC settles with Embraer for $205 million after corrupt practices allegations

Mark Iandolo Oct. 28, 2016, 8:52am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced a settlement this week with the U.S. Department of Justice and Brazilian authorities that requires Embraer SA, an aircraft manufacturer, to pay $205 million for Foreign Corrupt Practices Act (FCPA) violation allegations.

FMC Technologies to pay $2.5 million after allegations it overstated profits

Mark Iandolo Oct. 28, 2016, 8:47am

WASHINGTON (Legal Newsline) — FMC Technologies will pay $2.5 million after allegations it overstated profits in one of its business segments, the Securities and Exchange Commission (SEC) has announced.

Ernst & Young to pay more than $11.8 million for allegedly failing to detect accounting fraud

Mark Iandolo Oct. 28, 2016, 8:45am

WASHINGTON (Legal Newsline) — Ernst & Young LLP has agreed to pay more than $11.8 million after allegations related to audits of an oil services company that allegedly used deceptive income tax accounting to inflate earnings, the Securities and Exchange Commission (SEC) has announced.

SEC announces changes to modernize reporting for exchange-traded funds

Mark Iandolo Oct. 21, 2016, 2:08pm

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week it will adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds.

Forcerank to pay $50,000 after allegations related to fantasy stock trading games

Mark Iandolo Oct. 21, 2016, 2:04pm

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week that New York-based Forcerank LLC will pay $50,000 after allegations it offered illegal complex derivative products to retail investors through mobile phone games described as “fantasy sports for stocks.”

Consolidated complaint filed in securities fraud class action against diagnostics company Alere

Jessica Karmasek Oct. 20, 2016, 1:22pm

The plaintiffs in the proposed class action, originally filed in a Massachusetts federal court in April, argue they purchased Alere Inc. common stock and suffered damages as a result of the company’s alleged federal securities law violations and false and/or misleading statements and/or material omissions amid a failed merger with Abbott Laboratories Inc.

Anheuser-Busch to pay $6 million after allegations of FCPA violations

Mark Iandolo Oct. 19, 2016, 2:28pm

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced Anheuser-Busch InBev will pay $6 million after allegations it violated the Foreign Corrupt Practices Act (FCPA) and threatened a whistleblower who reported the misconduct.

SEC settles with UBS for $15 million after allegations of failing to properly train employees

Mark Iandolo Oct. 19, 2016, 9:01am

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced UBS Financial Services will pay $15 million after allegations of failing to adequately educate and train its sales force about its financial products.

Breach disclosure, class actions could affect Yahoo's price

Quinten Plummer Oct. 18, 2016, 12:37pm

NEW YORK (Legal Newsline) - When Yahoo opened up about what could be one of the largest cyber attacks to date, it might have reopened what had been a done deal with a prospective buyer. 

SEC announces deal with Weatherford after allegations of fraudulently inflated earnings

Mark Iandolo Oct. 17, 2016, 2:10pm

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced Weatherford International, an oil services company, will pay $140 million after allegations it inflated earnings through deceptive income tax accounting.

Artis Capital to pay nearly $9 million after allegedly failing to detect insider trading

Mark Iandolo Oct. 14, 2016, 2:33pm

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced this week that San Francisco-based Artis Capital Management and Michael W. Harden will settle allegations of failing to detect insider trading.

SEC files 868 enforcement actions in fiscal 2016, an all-time high

Mark Iandolo Oct. 14, 2016, 10:31am

WASHINGTON (Legal Newsline) — The U.S. Securities and Exchange Commission (SEC) has announced the filing of 868 enforcement actions exposing financial reporting-regulated misconduct by companies so far in fiscal year 2016.