Litigation

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E*TRADE Announces $79 Million Settlement Of Subprime Claims In Securities Lawsuit
Posted on 23 Dec 2011 by Timothy Raub

NEW YORK - (Mealey's) E*TRADE Financial Corp. has agreed to a $79 million settlement with investors to settle claims that it misrepresented the risk associated with its investment in subprime mortgage-backed securities in violation of federal securities... Read More

SEC Settles FCPA Claims With Oil Companies, Global Freight Forwarding Company For $237M
Posted on 8 Nov 2010 by Timothy Raub

WASHINGTON, D.C. -- The Securities and Exchange Commission has reached an approximately $237 million settlement with six oil service industry companies and global freight forwarding company Panalpina Inc., which are alleged to have bribed foreign officials... Read More

Law Firm To Pay $25 Million To Settle Nadel Ponzi Charges
Posted on 30 Aug 2012 by Michael J. Lello

TAMPA, Fla. - (Mealey's) A federal judge in Florida on Aug. 29 approved Holland & Knight LLP's agreement to pay $25 million to settle charges brought by the Securities and Exchange Commission that it helped hedge fund manager Arthur Nadel... Read More

2nd Circuit Rejects Judge Rakoff's Reasoning In Denying Citigroup Settlement
Posted on 16 Mar 2012 by Kevin M. LaCroix

In a sharply worded March 15, 2012 per curiam opinion ( here ), a three-judge panel of the Second Circuit granted the motions of Citigroup and the SEC to stay district court proceedings in the SEC's enforcement action against the company, so that... Read More

SEC Reaches $200 Million Subprime Settlement With Investment Firms
Posted on 22 Jun 2011 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) Investment adviser Morgan Asset Management Inc., broker-dealer Morgan Keegan & Co. Inc. and employees of both firms have agreed to pay more than $200 million to settle claims related to subprime mortgage-backed securities... Read More

Morgan Stanley To Settle Mortgage-Backed Securities Claims For $1.25B
Posted on 6 Feb 2014 by Timothy Raub

NEW YORK — (Mealey’s) Morgan Stanley will pay $1.25 billion to settle claims that it, certain of its subsidiaries and others misrepresented the investment quality in more than $10.58 billion in certificates in connection with 33 securitizations... Read More

The Week In Securities Litigation: $600 Million Insider Trading Settlement Reached
Posted on 22 Apr 2013 by Thomas O. Gorman

The Second Circuit's pending decision in the Commission's Citigroup market crisis case continues to loom as Judge Marreno approved the over $600 million insider trading settlement involving SAC Capital - conditioned on the outcome of Citigroup... Read More

SEC Reaches $137M Settlement With Bank Of America Subsidiary In Municipal Bond Investigation
Posted on 8 Dec 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) A former subsidiary of Bank of America Corp. that is now part of Merrill Lynch, Pierce, Fenner and Smith LLP on Dec. 7 agreed to a $137 million settlement of a Securities and Exchange Commission investigation into allegations... Read More

J.P. Morgan Securities Agrees To $228 Million Settlement In Muni Bond Reinvestment Action
Posted on 8 Jul 2011 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) J.P. Morgan Securities LLC (JPMS) has agreed to pay $228 million to settle charges brought by the Securities and Exchange Commission and other state and federal authorities in connection with its fraudulent rigging of... Read More

SEC Paying $755K To Settle With Fired Lawyer
Posted on 30 Jun 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) The Securities and Exchange Commission is paying $755,000 to settle a lawsuit with a former staff lawyer who accused the agency of blocking his investigation of a prominent hedge fund. The SEC settlement of Gary Aguirre's wrongful... Read More

Judge Rejects $21M Securities America Class Action Settlement
Posted on 21 Mar 2011 by LexisNexis Litigation Resource Community Staff

DALLAS - (AP) A federal judge in Dallas has rejected a deal that would have allowed brokerage Securities America Inc. to pay $21 million to settle a class action lawsuit alleging that the company didn't do proper due diligence on millions of dollars... Read More

SEC Reaches $25M Fraud Settlement With Diebold, Sues 3
Posted on 3 Jun 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) The Securities and Exchange Commission is pursuing fraud charges against three former executives of ATM maker Diebold Inc. after reaching a $25 million settlement with the company on Wednesday. The SEC filed civil charges against... Read More

Massey: West Virginia Mine Families Offered $3 Million Deals
Posted on 5 May 2011 by LexisNexis Litigation Resource Community Staff

CHARLESTON, W.Va. - (AP) Massey Energy Co. has offered families of the 29 miners killed in the Upper Big Branch coal mine explosion $3 million apiece to settle their claims, according to a document filed with the U.S. Securities and Exchange Commission... Read More