Thomas Curran, Peckar and Abramson, discusses raised questions about SEC employee stock trades.» Read More
Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.
Charles Prince resigned on Sunday as chairman and chief executive of Citigroup, and the bank said it may suffer an $11 billion write-down for subprime losses.
Former American International Group chief executive and major stockholder Maurice "Hank" Greenberg said in a filing on Friday that he was considering "strategic alternatives" for the world's largest insurer.
Former Countrywide Financial Vice President Quan Zhu agreed to pay $108,840 to settle insider trading charges, the U.S. Securities and Exchange Commission said on Monday.
Two former officers at a company that supplies body armor to the U.S. Army face charges they inflated the company's stock price and made nearly $200 million in the process.
A U.S. securities regulator Tuesday warned investors to be wary of scams touting huge potential profits from energy-related stocks, when the onlypeople likely to make money are those running the schemes.
The Securities and Exchange Commission has opened an informal investigation into stock sales by Countrywide Financial’s founder and chief executive officer, Angelo Mozilo, the Wall Street Journal reported, citing people familiar with the matter.
I don’t own any stock. That’s not by choice, but by CNBC edict. I just want that out there. Reporters are not allowed to own stock, unless it’s GE (parent company) in the 401K, because we report on companies constantly, and there cannot be any appearance of bias for gain, etc. We report on companies, we do not run them. That’s my preface to this post.
On Tuesday, the U.S. Supreme Court is hearing an case that some say may alter the landscape of investing. The outcome potentially could strengthen shareholder confidence -- or stifle investment markets.
On Oct. 9, the U.S. Supreme Court will hear a case that some say may open the flood gates to a tidal wave of investor lawsuits. Legal experts joined CNBC to debate both sides of the issue.
US Airways Group said on Friday that it expects costs per available seat mile, or unit costs, to rise faster than earlier expected as its reins in capacity.
Texas oilman Oscar Wyatt pleaded guilty Monday to conspiracy to commit wire fraud, one of five counts against him for his role in the U.N. oil-for-food scandal.
The SEC said Alexander James Trabulse sent statements to investors in his Fahey Fund that inflated the fund's returns by as much as 200 percent.
A California appeals court on Tuesday declined to reinstate a long-running case against the Walt Disney over royalties it paid for its popular Winnie the Pooh character.
Electronic Data Systems has agreed to pay nearly $500,000 to settle an investigation into accounting irregularities alleged to have occurred from 2001 to 2003.
The U.S. Securities and Exchange Commission said on Wednesday that it has charged four more former officers at Canada's Nortel Networks with engaging in accounting fraud.
Recently I blogged about the hiring of a new CEO at ImClone Systems and the unique clause in his contract requiring him to buy half-a-million dollars worth of stock in the company. My suspicion was that ImClone Chairman and billionaire shareholder Carl Icahn had a hand in that.
The New York Post broke the news today that Biovail Corporation, Canada's biggest biotech, is dropping its lawsuit against a hedge fund, a research outlet, Bank of America Securities and its former specialty pharmaceuticals analyst David Maris. "60 Minutes" did a piece on the lawsuits last year. Shortly after being sued, Maris left B of A. He and the company never disclosed..
CNBC has learned that Maurice "Hank" Greenberg has received a subpoena from the SEC and will be giving his first deposition as part of the SEC’s continuing investigation into what role, if any, he played in alleged accounting improprieties at American International Group.
The Securities and Exchange Commission said Wednesday that Saks Inc. has agreed to settle a lawsuit that Saks Fifth Avenue understated sales to some vendors and didn't record markdowns properly, inflating its earnings.