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.
In August, the U.S. Court of Appeals for the D.C. Circuit rejected a petition for review of a 2013 decision by U.S. Securities and Exchange Commission administrative law judges. The judges barred Raymond J. Lucia and his company from associating with a financial adviser, broker or dealer and revoked the company’s investment adviser registrations.
LAS VEGAS (Legal Newsline) — The Securities and Exchange Commission (SEC) has announced fraud charges against William J. Sears, Scott M. Dittman and Cliffe R. Bodden for their alleged scheme involving illegal stock sales and false financial filings of a company that makes containers for growing marijuana.
WASHINGTON (Legal Newsline) — Portugal Telecom SGPS S.A. will pay a $1.25 million fine after allegations it failed to properly disclose credit risk in its investments and debt instruments issued by companies of Portuguese conglomerate Grupo Espirito Santo, the Securities and Exchange Commission (SEC) has announced.